Raytheon Technologies Tucson Campus Tucson, AZ

Tucson, AZ

Address:   3350 E Hemisphere Loop

Year Built:   2002

Building SF:   144,000 SF

Acquisition Date:   December 2023

Projected Hold Period:   3.0 Years


Acquire at an 8.10% cap on existing rent, $171 per rentable square foot (“rsf”) or an 8.91% cap with removal of the value of the adjacent land value.
  • Compelling opportunity to acquire a premiere R&D asset within the Tucson MSA.
  • 100% leased to an investment grade tenant with a weighted average lease term (“WALT”) of 8.5 years.
  • Strategically serves as Raytheon Technologies’ R&D facility for its Missiles & Defense systems and the Tenant is Tucson’s largest private employer which has had an embedded presence in Tucson since 1951.
  • Significant value unlocked by selling the adjacent vacant land during the investment period to reduce basis and dispose of the remaining property in 36-48 months for a ~6.50% cap rate (~$226 per rsf).
  • Value-add investment returns for core-plus type risk profile.

Overview – Projected Project Level Returns


Projected IRR


Equity Multiple

3.0 Years

Hold Period