RRA financed the transformation of this industrial space into a dynamic office building in the heart of Tempe, Arizona. This single-floor, 50,000-square-foot property sits on four acres and is now a Hub of innovation, offering its tenants upgraded interior space, on-site solar panels and ground-level parking.

The property underwent a complete renovation in 2020, elevating it to a Class A creative office space. The sponsor’s vision turned what was once a functionally obsolete industrial building into a highly desirable workspace, catering to modern businesses in search of flexible, cutting-edge environments. The building’s unique ability to be demised into two separate spaces adds to its appeal, offering both single and multi-tenant leasing opportunities.

Strategically located near the I-10, one of Phoenix’s major highways, this property also offers easy access to Tempe, Chandler, and other surrounding areas

RRA Capital provided an $8.4 million non-recourse, interest-only loan with two extension options, structured to refinance the existing debt and serve as a bridge from the property’s conversion to lease-up. In addition to acquisition financing, RRA also provided follow-on funding to cover tenant improvements and leasing commissions, ensuring that the property remains competitive in the market.

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