Capital Hall Partners (Brad Hall and Michael Bronska) partnered with Blue Vista Capital Management to acquire the former ASML R&D facility located in the prestigious ASU Research Park, Tempe, Arizona. The 113,000 square foot building was constructed in 2002 and served as the global training facility until 2017. The building is equipped with fixed and flexible classroom and training rooms, a 150-person auditorium, and a 20,000 square foot clean room with support function areas.
“This property was an appealing investment for Capital Hall and Blue Vista Capital Management due to the location, building infrastructure, and excellent market fundamentals. With marquee tenants such as Amazon, Go Daddy, Edward Jones, and ViaSat, this is a great opportunity to redevelop one of the foremost large vacant office buildings in the ASU Research Park. Finding a vacant building of this quality in the southeast valley is unprecedented,” said Michael Bronska, managing partner for Capital Hall Partners.
Bronska shared the team’s proposal to modernize the interior, which is currently partitioned with training rooms, offices and corridors, and generate an open and light filled creative office, a re-imagined building entry, increased ceiling height, and expansive windows showcasing the adjacent lake. The exterior will receive functional and aesthetic enhancements to include a newly designed landscape theme, employee-centered outdoor amenities, and a parking structure. “Due to the attractive discount to replacement cost, we are proposing a redevelopment plan to draw a quality tenant to one of the leading business parks in the valley,” Bronska said.