ASU Research Park Office Building Hits Auction Block

An affiliate of Rialto Capital Management has scheduled a foreclosure sale for River Corporate Center, a 133,225-square-foot office building at 8075 S. River Parkway in Tempe. The building is located within the tech-focused, 2.2 million-square-foot ASU Research Park, home to major tenants such as publicly traded electronics giant Avnet Inc., which has moved its global headquarters to the campus. Oaktree Capital Management obtained a ground lease for the building in 2015 and has fallen behind on mortgage payments.

The Phoenix Business Journal reports the scheduled foreclosure sale comes as the tenant has been behind on loan payments since March 2025. A court-appointed receiver was installed to manage the property in August 2025. The two-story property was built in 1998 and offers 775 workstations, 15 conference rooms, 32 huddle rooms and 31 phone rooms. Transwestern has been hired to market the property. The public auction is scheduled for Dec. 2 at 11:30 a.m., at the Maricopa Superior Court Building at 201 W. Jefferson St. in Phoenix.