Venture capital firm Trinity Capital Inc. recently announced the lease of an office space in The Department, a seven-floor property located at 1 N. 1st St. in Phoenix. The company plans to relocate to the newly leased office from its current headquarters in Chandler, Ariz., by the spring of 2021.
Trinity Capital specializes in lending to technology companies in the growth stage and recently surpassed $1 billion in deployments. As part of the firm’s plans to increase its reach in the Phoenix area, its future headquarters will also feature an auditorium space for hosting sessions with tech industry experts and real estate professionals.
The Department is a mixed-use property in the city’s downtown, situated at the corner of N. 1st St. and E. Washington St. — one of the most popular areas for innovative companies searching for office space for rent in Phoenix — that also offers good commuting options with multiple entertainment and dining venues nearby. The building features state-of-the-art creative office suites, as well as retail spaces, and underwent a complete makeover this past summer.
By establishing a stronger presence in the metro, Trinity Capital is demonstrating its interest in the area’s booming tech sector and rich startup environment, which led to Phoenix being occasionally dubbed “Silicone Desert.” Trinity Capital specializes in loans and equipment financing for developing companies that are looking for capital while maintaining the same leadership structure.
“Moving to downtown Phoenix is an exciting next step in building a strong future for Trinity and contributing to the growing entrepreneurial ecosystem in the valley,” said Kyle Brown, president and chief investment officer of Trinity Capital. “The location being right in the heart of the city also has a lot more to offer, including public transportation, walkable amenities, engaging entertainment and a spirit of innovation. It’s the right spot for us.”