One Papago Hills — Lease in Tempe, AZ

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: Tempe, AZ 85288
  • Size: 35,162 SF

Description

The property includes a two -story building with 46,000 square foot floor plates and a free standing 10,500 square foot data center. The building features 12’ dropped ceiling height throughout the entire facility. Onsite amenities include a cafeteria and work out facility with showers. The property is located conveniently in the heart of Papago Park Center, just minutes from Sky Harbor International Airport and Metro Phoenix Light Rail. There is easy access to the Loop 202 Freeway via the full diamond interchange at Priest Drive. The building is expandable to 131,000 square feet.

Market Context

This office in Tempe, AZ is listed for lease across 35,162 SF. It has been on the market for 53 days. Compare it against other office listings for lease in Tempe, AZ — view the full market.

As of Q1 2026, the Phoenix office market showed cap rates around 7.2%. Source: multiple brokerage reports, Q1 2026.

Office market FAQ

What is the typical cap rate for office in Phoenix?
About 7.2% as of Q1 2026, per multiple brokerage reports.

Estimated Market Rate

$2.85/SF/mo – $3.85/SF/mo

Mid: $3.35/SF/mo

Estimated total for 35,162 SF: $117,793 per month

Cost-of-business estimate only; rate estimator unavailable.

Based on comparable properties in similar markets rather than local sales.

Contact

Explore this market

Similar Office for Lease in Tempe, AZ