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1 East Washington Street

Updated Feb 6, 2025

Visit Phoenix Leases 24,722 Sqft At CityScape From RED Development In Phoenix, AZ
LEASEDMixed-use

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:

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.

Players

Michael Gordon

JLL

Broker

1 deal

Broker

Phoenix Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Lease transactions

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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

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