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3350 E Hemisphere Loop 141,501 SF Office Building Tucson, AZ 85706 For Sale
EXECUTIVE SUMMARY
• Single-tenant, mission-critical defense R&D facility totaling ±143,650 SF.
• R&D facility is 100% leased to Raytheon, a wholly owned subsidiary of Raytheon Technologies Corporation (NYSE: RTX; S&P: A).
• ±6.5-year WALT
• Raytheon has occupied the building since 2002, delivering 20+ years of stable investment- grade tenancy.
• Raytheon extended their term through March 2032— the lease extension was executed more than three (3) years prior to the original term expiration.
• In 2022, Raytheon invested $3.24 million for a ±13,500 SF, classified ‘Dry Lab’ R&D space, further emphasizing their commitment to the asset.
• Current in-place rent is ±18% below market, providing superb upside potential while benefiting from stable cash flow.
• Minimal landlord obligations as a result of Raytheon’s NNN lease structure.
• ±5.78-acre adjoining I-1 zoned land parcel, presented in a separate offering, offers additional development or expansion opportunity and is located within an Opportunity Zone. The land parcel may be acquired independently or in bulk as a portfolio acquisition with 3350 E. Hemisphere Loop.
• Strategic location at the core of Tucson’s aerospace and defense corridor with proximity to Raytheon Missiles & Defense headquarters and U.S. Air Force testing facilities.
• Transportation-oriented location—two (2) of the city’s major freeways, the I-10 and I-19, and the Tucson International Airport are within five (5) miles.
• Unpriced
• R&D facility is 100% leased to Raytheon, a wholly owned subsidiary of Raytheon Technologies Corporation (NYSE: RTX; S&P: A).
• ±6.5-year WALT
• Raytheon has occupied the building since 2002, delivering 20+ years of stable investment- grade tenancy.
• Raytheon extended their term through March 2032— the lease extension was executed more than three (3) years prior to the original term expiration.
• In 2022, Raytheon invested $3.24 million for a ±13,500 SF, classified ‘Dry Lab’ R&D space, further emphasizing their commitment to the asset.
• Current in-place rent is ±18% below market, providing superb upside potential while benefiting from stable cash flow.
• Minimal landlord obligations as a result of Raytheon’s NNN lease structure.
• ±5.78-acre adjoining I-1 zoned land parcel, presented in a separate offering, offers additional development or expansion opportunity and is located within an Opportunity Zone. The land parcel may be acquired independently or in bulk as a portfolio acquisition with 3350 E. Hemisphere Loop.
• Strategic location at the core of Tucson’s aerospace and defense corridor with proximity to Raytheon Missiles & Defense headquarters and U.S. Air Force testing facilities.
• Transportation-oriented location—two (2) of the city’s major freeways, the I-10 and I-19, and the Tucson International Airport are within five (5) miles.
• Unpriced
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Building Size
141,501 SF
Building Class
B
Year Built/Renovated
1997/2009
NOI
$2,078,556
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
71,825 SF
Slab To Slab
10’6”
Building FAR
0.20
Lot Size
16.11 AC
Opportunity Zone
Yes
Zoning
I-1 - Industrial, I-1
Parking
730 Spaces (5.08 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Atrium
- Security System
- Signage
- Air Conditioning
- Balcony
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $2,798,638 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,798,638
CONTACTS
-
Christopher Toci -
Eric Wichterman -
Michael Coover -
Stephanie Adams -
Diana Hernandez -
Cushman & Wakefield
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3350 E Hemisphere Loop
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