1001 Building
1001 Central Avenue Phoenix AZ
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Property Pictures

Historical Performance Details
- Acquisition DateNovember, 1999
- Total Project Size98,817 SF
- Acquisition Price$4,650,000
- Add. Capital Costs$250,000
- Total Cost$4,900,000
- Cost PSF$49.59
- StatusSold - Jun, 2004
- Sale Price$6,400,000
- Sale Price / SF$64.77
- Ave. Annual Return20%
- Beautiful 9-story office building with a 3-story parking structure. Located just north of the Phoenix central business district
- Value enhanced by substantial renovations to elevator cabs, lobby, common areas and park structure
- Two major tenant leases were restructured within six months after acquisition
- NOI increased by $160,000 within 1 year after acquisition


