Visit Phoenix Leases 24,722 Sqft At CityScape From RED Development In Phoenix, AZ
1 East Washington Street
Building Size
—
Asset Type
Mixed-use
Closing
Feb 6, 2025
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 1 East Washington Street in Phoenix, AZ. The leased space encompasses 24,722 square feet. CityScape spans a total of 1.2 million square feet and includes various amenities such as office space, retail, dining options, and a 27-story tower. Additional features of the property comprise conference rooms, a fitness center, and 2,670 parking spaces.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Address: 1 East Washington Street
- Market: Phoenix, AZ
- Landlord: RED Development
- Tenant: Visit Phoenix
- Brokers: Brett Thompson, Mike Gordon & Ryan Timpani - JLL
- Lease Date: 02/06/2025
The transaction involves Visit Phoenix relocating from their previous location at 400 E. Van Buren St. in 2025. The brokerage team representing the transaction includes Brett Thompson, Mike Gordon, and Ryan Timpani from JLL, facilitating the lease agreement between the landlord and tenant.
On the Map
Mixed-use
View full map
Players
Phoenix Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
Loading comparables…
Deal FAQ
Browse Phoenix mixed use leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93