- For sale
Zanjero Falls, a multi-use investment property, is offered for sale. Located at 7410 N. Zanjero Boulevard in Glendale, Arizona, the property was originally constructed in 2008 as a medical/ office condominium project. However, when the Great Recession occurred, the interior of the property was never built-out.
Buildings total ±158,597 square feet, with additional ±73,772 square feet of underground parking, for a property total size of ±232,369 square feet. Land area consists of ±7.50 acres.
Click here to download the offering memorandum.
Zoning is PAD (Planned Area Development). Zoning uses include healthcare, senior housing, hospitality, education, offices, and good and personal services. A conditional use permit would be required for apartments, condos, co-ops, workforce housing, student housing and 55-plus apartments.
Currently buildings A, B and C are vacant and in shell condition. The project offers a Spanish Colonial architecture style design and appeal with balconies, arches and towers, Cantera stone and wrought iron, balconies and breezeways and extensive landscape and water features.
The property has rare underground parking and the potential to accommodate a full range of parking requirements, with a competitive 5.0/1000 parking ratio and the potential to increase parking on excess land. The property was designed with extensive electrical, water, sewer and HVAC distribution.
The property benefits from being in the heart of Glendale’s shopping and entertainment district, adjacent to the new Desert Diamond Casino, Phoenix Coyote hockey arena, Arizona Cardinal’s State Farm football stadium and super-regional Westgate City Center mixed-use retail and entertainment complex.
This offering represents a unique and rare opportunity for an incoming developer or investor to acquire a high-quality property at a significant discount to development cost in a market with rapid growth and need for additional services, particularly healthcare and lodging.
The site adjacent to the east is also for sale and could be purchased for future expansion. Click here to view that property listing.