1917-1965 West 1st Street, Tempe, AZ 85281
A rare opportunity to acquire a 100% leased, 33,400 SF freestanding industrial asset in the infill Sky Harbor / Broadway submarket of Tempe, Arizona. Leased on a true NNN basis to AV Concepts, an established audio-visual and event-technology company, with in-place rent meaningfully below current market — creating a clear path to mark rents to market. Two concrete tilt-up buildings (1994 & 1999) on ±2.06 secured acres, minutes from Phoenix Sky Harbor International Airport, I-10, and SR-143.
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Investment Highlights
1917-1965 West 1st Street delivers a 100% leased, NNN cash-flowing industrial investment with meaningful mark-to-market upside, in one of Metro Phoenix's most established and supply-constrained industrial submarkets.
Fully leased to AV Concepts, an established audio-visual and event-technology company, on a true NNN basis. The tenant covers CAM, taxes, insurance, and admin/management reimbursements.
Current in-place rent is meaningfully below the submarket's $1.30 NNN market rate, with 4.50% contractual annual escalations — creating a clear opportunity to mark rents to market at renewal or re-lease.
33,400 SF across two concrete tilt-up buildings (1917 W 1st St, built 1994; 1965 W 1st St, built 1999) on ±2.06 secured acres. 20' clear height, 5 dock-high doors, 2 grade-level doors, full warehouse HVAC, LED lighting, and 74 parking stalls.
Located minutes from Phoenix Sky Harbor International Airport with direct access to I-10 and SR-143 (Hohokam Expressway) — one of the most established and consistently well-performing industrial submarkets in Metro Phoenix.
Virtually no available land remains to build comparable small-bay industrial product in this infill location. Today's construction and labor costs make the asset effectively impossible to recreate.
The Sky Harbor submarket carries a healthy 5.9% vacancy rate, with average asking NNN rates up from $0.99 to $1.15 over the last two years and projected to rise another 10.7% over the next year.
Technical Specifications
| Building Size | 33,400 SF (Two Buildings) |
| Addresses | 1917 W 1st St (1994) & 1965 W 1st St (1999) |
| Land Area | ±2.06 Acres |
| Office Space | ±20% of NRA |
| Clear Height | 20 Feet |
| Construction Type | Concrete Tilt-Up |
| Dock-High Doors | 5 |
| Grade-Level Doors | 2 |
| Auto Parking | 74 Stalls |
| Yard | Secured |
| Zoning | I-1 (Tempe) |
| Warehouse Cooling | HVAC |
| Fire Protection | Sprinklered |
| Lighting | LED Throughout |
| Roof | Coating Applied 2021 |
| Roof Warranty | Through 5/13/2031 |
| Parcel Numbers | 124-38-249A & 124-38-251A |
| Market / Submarket | Phoenix / Sky Harbor – Broadway Industrial Park |
| Delivery / Available | Immediate — Existing NNN Investment |
Property Photos
Strategic Location
1917-1965 West 1st Street sits in one of Metro Phoenix's most established infill industrial corridors — minutes from Phoenix Sky Harbor International Airport with direct access to I-10 and SR-143, and within a one-day truck drive of Southern California, Las Vegas, and the Southwest.
Mileage and drive time for Phoenix Sky Harbor Airport is from public listing data for this property; mileage and drive time for all other destinations are estimated driving distances.
Tenant Profile
AV Concepts has spent more than 35 years bringing cutting-edge technology and audio-visual solutions to the event-technology industry. Through close collaboration and a highly customized approach to every engagement, AV Concepts listens to each customer's goals and delivers differentiated, technology-driven experiences — investing heavily in R&D, team infrastructure, and internal process to ensure the highest quality of service.
Leon Industrial is a Dallas-based industrial real estate platform focused on acquiring and operating well-located logistics and manufacturing facilities across high-growth Sun Belt markets, including Metro Phoenix and beyond. Every asset is managed to institutional standards with long-term value creation at the forefront.
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