Whispering Wind Corporate Center

Phoenix, AZ

Offering Memorandum

The Offering

Key Facts

Type Class A, two building office complex
Address 2205 & 2225 W Whispering Wind Drive Phoenix, AZ 85085
Building Area ±74,520
Land Area ±4.73 acres
Percent Leased 96%
Number of Tenants / WALT 6 / 4.7 years
Year Built 2007
Parking Ratio ±4.5 per 1,000 SF
Asking Price $17,100,000
Price PSF $229

Investment Summary

Colliers, as exclusive advisor, is pleased to present the opportunity to acquire the Whispering Wind Corporate Center (the “Property”), a ±74,520 square foot, class A suburban office complex that is 96% leased to six diverse tenants. This two-building office complex features dramatic lobbies, attractive architectural details and quality construction. Both W.L. Gore & Associates, a tenant since 2009, and Sherwin Williams, a tenant since 2019, recently extended their leases for 5 and 10 years respectively.

Strategically located in North Phoenix, just seven miles south of Taiwan Semiconductor Manufacturing Company’s (TSMC) $165+ billion fab plants, the Property offers exceptional access to area amenities, large employers, strong transportation infrastructure and outstanding population densities.

This Property offers investors a significant opportunity to acquire a modern, well-designed office complex that provides excellent stable cash flow from six creditworthy tenants. With current rents below market, the Property also offers promising future upside potential.

Offering Highlights

• SECURE INVESTMENT WITH STABLE CASH FLOW WITH UPSIDE - At 96% occupancy, Whispering Wind Corporate Center offers a secure cash flow from six institutional-quality tenants from diverse industries, with staggered lease expirations, which are at rental rates well below market.

• WELL-MAINTAINED BUILDINGS - Built in 2007 with distinctive building materials and design features, the project has been professionally maintained, minimizing near-term capital expenditures for the buyer.

• BELOW REPLACEMENT COST PRICING - With tenants paying below-market rates well under replacement cost, an investor can acquire the Property at a fraction of today’s construction cost.

• INSTITUTIONAL-QUALITY TENANTS - W.L. Gore & Associates (a leading manufacturer of thousands of advanced technology products for the electronics, fabrics, industrial and medical markets), and Sherwin Williams (which houses its regional sales and financial offices here), are joined by four other business, ranging from education, to engineering and logistics, to escrow services. These institutional-quality tenants range in size from 1,440 to 38,308 square feet.

• LARGE RANGE OF NEIGHBORHOOD EMPLOYERS - The area is home to dozens of private-entrepreneurial companies, along with numerous major employers such as Cigna, Farmers Insurance, USAA, W.L. Gore and Associates, Albertson’s/Safeway and PetSmart. These employers have been attracted to the deep labor pool and attractive rental rates.

• VERY FUNCTIONAL BUILDING FLOOR PLATES AND SITE PLAN - Each two-story building features efficient floor plates that can accommodate a full-floor user or be demised for two or more tenants. Currently one building is fully occupied by W.L. Gore, while suites in the other building range from 1,440 to 11,898 square feet. The improvements are thoughtfully designed, with all parking areas located within a short walk of building entrances.

• AMENITY-RICH GROWTH AREA - The convenient regional location has easy access to Interstate 17 via Happy Valley Road. Just north of Deer Valley Municipal Airport within the amenity-rich Deer Valley submarket, it is adjacent to more than 1.1 million square feet of retail, dining, hotel and shopping amenities near Happy Valley Towne Center and The Shops at Norterra. This infill location continues to aggressively expand.