Single-Tenant Net-Leased Property for Sale

Honeywell Aerospace Glendale DSES Campus 19019 N 59th Ave Glendale, AZ 85308

  • 252,300 Square Feet
  • Industrial Office Technical
  • For Sale

Summary Description

Opportunity to acquire the Honeywell Aerospace Glendale DSES Campus, a ±252,300-square-foot corporate campus that includes offices, clean rooms, R&D labs, and assembly areas all on ±45 acres at 19019 N. 59th Avenue in Glendale, Arizona. Property is 100-percent leased to Honeywell International Inc.  

Visit our property website to view the offering memorandum.

The Property is located just south of Loop 101, in the heart of the world-renowned master-planned community of Arrowhead Ranch, and just south of the 150-acre medical school campus of Midwestern University. This fully-stabilized Property offers investors an opportunity to purchase a critical research & development and assembly facility of an investment-grade global technology leader that also offers excellent upside.

Honeywell’s presence at this site for more than 30 years has shaped the quality of the surrounding community where its highly-educated, technology-oriented workers have set down their roots.

Investment-grade credit tenant—a leader in its industry

This facility is a part of Honeywell’s Aerospace division. Headquartered in Phoenix, Aerospace employs 35,000 in 80 R&D facilities worldwide, of which 8,300 are employed at their Arizona facilities.

Honeywell International Inc. is a Fortune 100 software-industrial company that invents and manufactures technologies that address some of the world’s most critical challenges around energy, safety, productivity and global urbanization. 

With approximately 131,000 employees, with an S&P credit rating of A, Honeywell has 40,000 active patents/applications and generated $40.5 billion in sales in 2017. (Source:

Stable cash flow with considerable upside

Having occupied this facility for more than 30 years, Honeywell recently renewed its lease through July 15, 2024, at a rate that is a fraction of the equivalent rental value of a new facility.

Lot Size: 45.17 Acre

Building Size: 252,300 Square Feet

Area Available: 252,300 Square Feet

Year Built



2.6/1,000 (660 spaces)


  • Tenant: Honeywell International Inc. (NYSE:HON)
  • Investment-grade credit rating: A, outlook stable (Standard & Poor’s)
  • Lease expiration: July 15, 2024
  • Today, the rent is dramatically below replacement cost rent
  • The replacement cost today for the Property would be dramatically more than the estimated trading price
  • Strategic in-fill location, with no large parcels of developable land nearby
  • Glendale and the Northwest Valley have become a hub for major employment of skilled workers and large corporate campuses
  • With Honeywell leading the list, there are 22 businesses within five miles of the Property that occupy from 100,000 to 1.2 million square feet per company, including USAA and American Express

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