Downtown Tucson and midtown along Campbell and Speedway are the office locations sponsors describe. Occupancy and rollover decide whether a bank, a life company, or CMBS will read the file. A building that is half empty is not a permanent quote. Capital Market Funds originates from Scottsdale. We do not publish a Tucson office vacancy rate or a coupon.
Arizona office tombstones name Chandler and Tempe: Price Road bridge $14,000,000, Chandler owner-user $15,600,000, and Tempe dental $745,000. A Columbus, Ohio life-company office and a Midwest bank office acquisition are not Arizona. The only Tucson card is multifamily, $28,000,000. Arizona office keeps the office cards. None of them is a Tucson office loan.
Downtown Tucson is not Price Road
Sponsors who know the Chandler bridge sometimes ask whether Tucson office can be quoted from that $14,000,000. It cannot. Different city, different building, and that loan was a bridge on Class A office in the Price Road Corridor. A stabilized Tucson building is a new file.
Medical suites inside a Tucson office building are still office unless the collateral is a standalone medical property, which is Tucson medical office. We are not a Fannie Mae DUS lender, and office is not an agency asset.
Bridge when the roster is the problem
If the business plan is to lease vacant Tucson floors, permanent credit may wait. Bridge, with a takeout, is the transitional structure. It is not construction, and it is not the interest-only feature on the multifamily card.
The desk is Suite 255 in Scottsdale. Pima County coverage does not add a Tucson street address to the site.
Capital for Tucson office
| Source | When it fits |
|---|---|
| Bank and credit union | Tucson office a portfolio lender will hold. |
| Life company | Selective, on occupancy and rollover. Not the Chandler cards. |
| CMBS | When a Tucson office needs conduit structure. |
| Bridge | A lease-up plan for vacant Tucson floors. |