3350 E. Hemisphere Loop & 6300 S. Palo Verde RoadTucson, AZ 85706
Raytheon Technologies Corporation
Asset ClassOffice, Industrial, Land
Single-tenant, mission-critical defense R&D facility totaling ±143,650 SF
Overview
- 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).
- Raytheon has occupied the building since 2002, delivering 20+ years of stable investment- grade tenancy.
- ±6.5-year WALT, a rarity in the defense sector where short-term leases are typically the norm.
- 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.
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3350 E. Hemisphere Loop & 6300 S. Palo Verde RoadTucson, AZ 85706
Opportunity Contact Information
Listing provided by Revere CRE