Rio 2100 — Sale in Tempe, AZ

  • Price: $30
  • Listing type: For sale
  • Asset type: Office
  • Location: Tempe, AZ
  • Size: 300,000 SF
  • Year built: 2018

Photos

Rio 2100 — Sale in Tempe, AZ, photo 1 of 6
Rio 2100 — Sale in Tempe, AZ, photo 2 of 6
Rio 2100 — Sale in Tempe, AZ, photo 3 of 6
Rio 2100 — Sale in Tempe, AZ, photo 4 of 6
Rio 2100 — Sale in Tempe, AZ, photo 5 of 6
Rio 2100 — Sale in Tempe, AZ, photo 6 of 6

Description

Jones Lang LaSalle, Inc. ("JLL"), as exclusive advisor, is pleased to present the opportunity to acquire Rio 2100 (the "Property"), a 300,000 square foot, two-building, Class A office campus located at 2114 and 2116 East Achieve Way in Tempe, Arizona. Delivered in 2018 and 2019 and situated on ±12.2 acres within the ±60-acre Rio 2100 master-planned business park, the Property is currently 100% leased to Achieve (formerly Freedom Financial Network) and NewRez — a wholly-owned subsidiary of Rithm Capital (NYSE: RITM) — under long-term, triple-net leases expiring concurrently on June 30, 2030. Situated within Tempe, Arizona's dominant office submarket — where Tier 1 and Tier 2 vacancy is a market-leading 11.6% and active tenant demand of 1.75 million square feet outpaces every other Phoenix submarket by 2.5x — Rio 2100 is one of a handful of true Class A, large-floor-plate campuses capable of accommodating a large corporate user. In-place rents of $30.40/SF NNN (FSG Equivalent: $36.90) are well below the Tempe Tier 1 and Tier 2 weighted average of $49.13/SF and present a 40.2% mark-to-market opportunity, the largest in Tempe. A 40-year Government Property Lease Excise Tax ("GPLET") structure sets property taxes for the next 32 years at no more than $1.87/SF. This set tax advantage creates a durable structural cost-of-occupancy advantage that is unmatched within the Tempe market. Rio 2100 provides investors with a unique combination of contracted NNN cash flow, substantial embedded rent upside, and a structural competitive advantage in an effectively supply-constrained market — available at a meaningful discount to both current market rents and replacement cost.

Market Context

This office in Tempe, AZ is listed for sale at $30 across 300,000 SF. The building dates to 2018. Compare it against other office listings for sale in Tempe, AZ — view the full market.

As of Q2 2026, the Phoenix office market showed a 23.4% vacancy rate, average asking rents near $31.67/SF/yr, and rents up 2.2% year over year. Source: multiple brokerage reports, Q2 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Office market FAQ

Is the Phoenix office market tightening or softening?
Vacancy is around 23.4%, with asking rents rising year over year (Q2 2026).

Contact

Explore this market

Similar Office for Sale in Tempe, AZ