This article has been archived, please login for access or subscribe now by going to the subscribe tab at the top of page.

A 21,500-square-foot warehouse facility sold to JCBP, LLC dba Tucson Business Interiors (TBI). The asset commanded a sale price of[mepr-show rules=”58038″] $530,000 ($25 PSF) for 990 S. Cherry Ave in Tucson is located in the central industrial market of Tucson. It offers approximately 19,500 square feet of industrial/warehouse space and approximately 2,000 square-feet of office space.

TBI is a locally owned and operated since 1994, specialized in smart changeable facilities that can be quickly adapted to the changing needs of an organization. The company uses environmentally friendly materials both inside and out, with LEED professionals on staff. TBI is a preferred Haworth dealer in Southern Arizona.

TBI is currently leasing space at 305 S. Euclid, where they have showroom and office and they own a building at 815 E 18th St. that they use for warehouse space. The company plans to move all warehouse operations to the newly purchased property and convert the current warehouse building to showroom and office space.

Tim Healy with CBRE’s Tucson office represented the seller, Tucson-based SAK Properties LLC. Tucson Business Interiors was represented by Russ Hall, SIOR, GSCS and Stephen D. Cohen, Principals and Industrial Specialists with Cushman & Wakefield | PICOR in Tucson.

Healy can be reached at (520) 323-5119. Hall can be contacted at (520) 546-2747 and Cohen is at (520) 546-2750.

———————————————–

A 14,900-square-foot industrial facility on 1.07 acres sold to William Ebert dba Sunwest Supply, Inc. at 602 West Rillito St. in Tucson. The asset commanded a sale price of $375,000 ($26 PSF). The building was constructed in sections from 1959 – 1968.

Since 1990, Sunwest has been a Tucson-based manufacturer and full service parts distributor of specialized new and remanufactured components to the mining industry world-wide. Focused on product development and machining, Sunwest purchased the property for expansion.

The company owns several other properties nearby although none adjacent to this new acquisition, 25 W Sahuaro and 618 W Flores are both owned and occupied by Southwest Supply.

Dan and Penny Gebhart of Re/Max Excalibur in Tucson represented the buyer and seller, Avtar, LLC of Tucson in the transaction.
Gebharts can be reached at (520) 977-7975.

———————————————–

A 3,807-square-foot industrial building at 2462 N Park Avenue on an 8805-square-foot lot in Tucson sold to Russell Moore for a new start-up business, Old Pueblo Car Wash Supply. The property commanded a sale price of $175,000 ($46 PSF).

Old Pueblo Car Wash will be formulating and distributing car wash supplies.

Brandon Rodgers of Cushman & Wakefield | Picor represented the seller, The Aronsson Group of Whitefish, MT in the transaction.

Rodgers can be reached at (520) 546-2714.

The aggregate sale price of these industrial properties was $1.08 million.[/mepr-show]

Login for additional information.

[ismember]990 S Cherry – sale date: 10/16/2013, down payment not available. conventional financing by Bank of Tucson.
602 W Rillito – sale date 9/23/2013, all cash transaction. Property zoned I-1, Tucson. APN: 115-15-146, 147 & 149.
2462 N Park Ave. – sale date: 9/13/2013, $25,000 down payment with a seller carryback. Property zoned C-2 (grandfathered). APN: 113-09-328A[/ismember]

Dallas-based Lincoln Property Company (LPC) and Carefree Partners of Phoenix are collaborating to attract corporate design/build projects to a major new, multi-employer 267 acre business park named Goodyear AirPark in Goodyear, AZ.

The announcement comes on the heels of a joint venture formed between LPC and property owner Carefree Partners Investments. LPC will be the project’s design-build developer, based on the firm’s national scope, local office accessibility and ability to deliver an array of high-end design-build products. Jones Lang LaSalle Managing Directors Anthony J. Lydon, SIOR, and Marc Hertzberg, SIOR, serve as the project’s exclusive marketing coordinators.

The project, at build-out, has the potential to add approximately 4,000 new jobs to the market.

“We’re on the front end of the next wave of industrial building,” said Lincoln Property Company Executive Vice President David Krumwiede. “It is the opportune time to capture employer interest and make very big, very positive, very lasting contributions to the Valley’s job growth.”

“Goodyear is the Valley’s gateway from Southern California. Employers seeking new space solutions in Arizona can take advantage of our 30 to 40 percent operational cost savings, and the 267 acres of shovel-ready land that Goodyear AirPark provides to respond to their demand,” said Lydon. “LPC also has the financial and construction expertise to build exactly what corporate employers need, whether it is office, industrial, flex or research space. That gives us tremendous leverage toward our mission: to attract businesses that will provide long-term value to the greater West Valley market.”

According to JLL, only 10 percent of Goodyear’s 189 square miles is currently developed, offering significant opportunity for site selection and design-build activity. Current nearby industrial employers include Amazon, Macys, SubZero, Cancer Treatment Centers of America and Dick’s Sporting Goods.

Goodyear AirPark is located just south of the southwest corner of Litchfield Road and the newly widened Highway 85, directly south of the Goodyear Airport. Its 267 acres include flexible/divisible lot sizes with Highway 85 frontage and direct access to I-10 (via the I-10 reliever highway), a bicoastal, federal corridor that serves as the metro area’s main transportation artery. The site is also in close proximity to I-8 and the proposed Loop 202 and under constructionLoop 303 freeways.

Goodyear AirPark offers variable zoning and is Foreign Trade Zone capable, which translates into a potential 75 percent reduction in real property tax and personal property (equipment) tax and duty deferral or elimination.

Lydon can be reached at (602) 282-6268 and Hertzberg should be contacted at (602) 282-6269.

Real Estate Daily News is sponsored by Stewart Title and Trust – The only title company named one of
“AMERICA’S MOST TRUSTWORTHY COMPANIES” in 2012 by Forbes®.
Contact Stewart Title & Trust of Tucson at (520) 327-7373 for your next closing.

Brixmor Property Group Inc, a shopping center operator owned by New York City-based private equity firm Blackstone Group LP, said in a regulatory filing that it expects its initial public offering to be priced between $19 and $21 per share, raising about $787.5 million.

At the top end of the expected price range, the REIT would be valued at about $4.61 billion. Brixmor, which first filed for an IPO in July, is offering 37.5 million shares.

Blackstone has recently moved aggressively to sell or take public its real estate assets. It filed in September to take U.S. hotel operator Hilton Worldwide Inc public and also registered hotel chain Extended Stay America Inc for an IPO.

Brixmor owns and operates 521 retail centers across the country from California to Maine, some 70 percent of which are anchored by a market-leading grocery store. Most of these are located in the Eastern U.S. and the Midwest

Brixmor’s holdings in Arizona include Glendale Galleria at 5800 West Peoria Avenue, Glendale, AZ 85302, and Northmall Centre at 4881 North Stone, Tucson, AZ 85704

The company intends to list on the New York Stock Exchange under the symbol “BRX”.

Bank of America Merrill Lynch, Citigroup, JP Morgan, Wells Fargo Securities and Barclays are among the lead underwriters for the IPO.