PHOENIX, ARIZONA -- CBRE has arranged the $11.4 million ($193 PSF) sale of the Republic Services Recycling Center, a 59,041-square-foot industrial facility located at 3780 East Ajo Way in Tucson, Ariz.
Bryce Horner and Tim Healy of CBRE in Tucson represented an undisclosed seller from California in the transaction. Allen C. Buchanan and Joshua K. Harper of Lee & Associates – Orange represented an undisclosed buyer completing a 1031 exchange.
“In these volatile past few months, quality industrial investment product has remained incredibly resilient throughout many capital markets nationally,” said CBRE’s Horner. “As a “pandemic-proof” investment, the Republic Services Recycling Center provides its new owner stable and secure cash flow from a reputable tenant for many years to come.”
Located at the southwest corner of Ajo Way and Alvernon Way in Tucson’s South-Central and Airport submarket, the standalone property is occupied entirely by Republic Services. Built in 2012, the property serves as a premier recycling facility serving the greater Tucson area.
Republic Services Recycling Center includes 53,783-square-feet of warehouse space and 5,258-square-feet of office space. Features include 32-foot clear height, four dock-high doors and five grade-level doors.
The facility offers convenient access to the Tucson International Airport and Interstate 10, and is adjacent to Butterfield Business Park, a premier southern Arizona business park.
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