TUCSON, ARIZONA (Oct. 13, 2022) The Ajo / Evans Business Center at 1100 & 1200 E Ajo Way and 3819 & 3855 S Evans Blvd. in Tucson sold recently for $5 million ($140 PSF). Built in 1984, the flex industrial property is 35,688 square feet on 3-acres and can accommodate twenty-three tenants ($217,400 per unit).
Asking lease rates at time of sale were $9.60 per square-foot plus $3.60 CAM charges.
It sold to a California investor, FJM Investments of San Francisco c/o Mark Pirie and was 97% occupied at time of sale. Robert Buckley with Cushman & Wakefield in Phoenix represented the investor.
The seller, 15100 Family, Limited Partnership of Rancho Palos Verdes, California c/o Mark Dessy was represented by a related party, Brad Dessy of Hanley Investment Group in Corona Del Mar, California.
The transaction closed September 6, 2022.
The seller purchased the property in 2017 for $2.2 million.
For more information, Brad Dessy can be reached at 310.936.1050 and Buckley can be contacted at 602.954.9000.
To learn more, see RED Comp #10162.