For Sale — Investment Opportunity

525 W 21st Street

525 W 21st Street, Tempe, Arizona 85282

Single-tenant industrial investment in Tempe Southwest / Airport Area — 135,531 SF on 5.44 acres, 100% leased to Lucid Group USA, Inc. through March 31, 2032 following a recently executed five-year extension. 36' clear height, ESFR, 12 dock-high doors, and ~15,000 SF surplus side-yard in one of Phoenix's most supply-constrained infill nodes.

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Investment Highlights

Mission-Critical Lucid Facility · Sky Harbor-Adjacent

525 W 21st Street delivers ~5.33 years of remaining NNN term through March 2032, institutional-grade functionality on irreplaceable Tempe infill land, and a recently extended lease to Lucid Group USA, Inc. supporting its Arizona manufacturing platform and western U.S. service network.

100% NNN Leased Through Mar 2032

Fully leased to Lucid Group USA, Inc. through March 31, 2032 following a recently executed five-year extension — providing contractual cash flow with ~5.33 years of remaining WALT on a triple-net basis.

Demonstrated Tenant Commitment

Lucid has occupied since April 2022 and renewed well in advance of expiration — extending total occupancy to ten years for parts distribution and collision repair supporting the Arizona platform and western U.S. service network.

Institutional-Grade Functionality

36' clear height, ESFR sprinklers, 1,200 amps at 277/480v three-phase, 40' × 40' column spacing, 12 dock-high doors with levelers, 2 grade-level doors, and a 110' secured concrete truck court. Roof coated 2023.

Sky Harbor-Adjacent Freeway Access

Approximately 5-minute drive times to I-10 (1.2 mi) and US-60 (1.3 mi), with Phoenix Sky Harbor International Airport about 13 minutes / 3.3 miles away in the supply-constrained Tempe Southwest / Airport Area submarket.

Irreplaceable Infill Yard

At 48.9% site coverage, the property includes ~15,000 SF of surplus side-yard and trailer parking — extremely challenging to replicate in Tempe today — plus 132 parking spaces (108 surface / 24 covered).

Passive Zero-Management NNN

Triple-net structure with tenant responsible for taxes, insurance, and operating expenses. One 5-year renewal option at FMV with 4% escalations. Lease guaranteed by Lucid Group, Inc.

Technical Specifications

Full Property Specs

Building Size	135,531 SF (inclusive of mezzanine)
Ground Floor Area	115,801 SF
Land Area	5.44 Acres (236,836 SF)
Site Coverage	48.9%
Year Built	1984
Configuration	Single-tenant, rear-load distribution
Office Finish	±9,438 SF
Mezzanine	±19,730 SF over warehouse speed bays
Clear Height	36'
Column Spacing	40' W × 40' D
Dock-High Doors	12, with levelers
Grade-Level Doors	2
Truck Court Depth	110'
Yard	Gated, secured rear yard; ~15,000 SF surplus side-yard
Parking	132 spaces (108 surface / 24 covered)
Power	1,200 Amps / 277–480v, three-phase
Fire Protection	ESFR
Lighting	LED
Warehouse Cooling	HVAC / HVLS fans
Roof	Coated 2023
Zoning	GID — General Industrial District
Market / Submarket	Phoenix / Tempe Southwest / Airport Area
Delivery / Available	Immediate (Leased through Mar 2032)

525 W 21st Street loading dock and truck court

Strategic Location

Tempe Southwest / Airport Area — Minutes to I-10 & Sky Harbor

525 W 21st Street sits in the heart of North Tempe / Airport Area — among the most supply-constrained infill industrial nodes in metro Phoenix — with approximately 5-minute drive times to both I-10 and US-60.

View larger map

I-10

Direct freeway access

~5 min / 1.2 mi

US-60 (Superstition Fwy)

Direct freeway access

~5 min / 1.3 mi

Phoenix Sky Harbor Intl

via I-10 / local

13 min / 3.3 mi

Downtown Phoenix

via I-10 W

8.1 mi

ASU / Tempe Town Lake

via local arterials

~6 min / ~2 mi

Lucid AMP-1 (Casa Grande)

via I-10 S

50 min / 45 mi

Tenant Profile

Lucid Group USA, Inc.

Lucid Group USA, Inc. is the operating subsidiary of Lucid Group, Inc. (NASDAQ: LCID), a Newark, California-headquartered designer and manufacturer of electric vehicles with its principal North American manufacturing facility (AMP-1) in Casa Grande, Arizona. This Tempe facility supports parts distribution and collision repair for Lucid's installed fleet and western United States service network.

Apr 2022

Occupied Since

Mar 2032

Lease Expiration

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Current Base Rent

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Tenant Financials

Mission-critical parts distribution & collision repair — purpose-outfitted and geographically tethered to Lucid's Casa Grande AMP-1 production facility and Phoenix-area customer base.

Recently executed five-year extension through March 31, 2032 — demonstrating commitment and extending total occupancy to ten years. [Financial details available upon CA execution]

Lease guaranteed by Lucid Group, Inc. — parent company credit behind the lease obligation. [Financial details available upon CA execution]

One 5-year renewal option at FMV with 4% escalations and 9–12 months' notice — additional term optionality for ownership.

In-place rent at market — no residual above-market rent risk at expiration. [Financial details available upon CA execution]

~45 miles / 50 minutes to Lucid AMP-1 in Casa Grande — reinforcing the facility's role within Lucid's Arizona manufacturing and service platform.