LevRose CRE facilitates $6.8M sale of Midtown Phoenix office building

SCOTTSDALE, Ariz. (July 10, 2026) – LevRose Commercial Real Estate announced the successful sale of 702 E. Osborn Road, a ±35,346 SF, two-story office building in the heart of Midtown Phoenix, for $6.8 million.

Jason Reddington, CCIM, and Keri Davies, Partners with LevRose CRE, represented the seller, 702 E. Osborn LLC, in the transaction.

The sale is notable in today’s Valley office market and represents one of the larger recent owner/user office acquisitions in Midtown Phoenix. The property’s acquisition by an owner-user, combined with its existing in-place income stream, makes the transaction a meaningful benchmark for the Midtown Phoenix office sector and a relevant comparable sale for market participants evaluating office assets in the current environment.

Located at the prominent intersection of 7th Street and Osborn Road, directly across from the historic Phoenix Country Club, the property offers exceptional visibility, monument signage, structured parking, and convenient access to SR-51, I-10, and Loop 202. The asset was approximately 83 percent occupied at the time of marketing and featured a strong income profile anchored by long-term tenants.

“While the office market has faced challenges over the last several years, quality assets in exceptional locations continue to attract strong buyer interest,” Reddington said. “This sale, which generated multiple offers, demonstrates that well-positioned office properties offering a combination of occupancy flexibility and stable in-place income remain highly desirable. We believe this transaction will serve as a significant market comp for owner-user office acquisitions in Midtown Phoenix moving forward.”

Built in 1984, the two-story office building and adjacent lot/land includes 138 parking spaces, with a substantial portion consisting of covered and garage parking. The property has benefited from significant capital improvements, including updated common areas and renovated office suites, further enhancing its appeal to both investors and owner-users.

The Midtown Phoenix location places the property within walking distance of numerous restaurants and coffee shops, and business amenities, such as Starbucks, Gadzooks Enchiladas and Soup, and Taco Guild, while its proximity to major transportation corridors continues to make it one of the Valley’s most sought-after office submarkets.

The buyer, Maryam Parman of Avrek Law – AZ E Osborn LLC, was represented by Mike McQuaid and JD Marsh with Newmark.