TUCSON, ARIZONA - Thorinson, LLC and partners (Robert Elam, manager) of San Rafael, CA traded into two Tucson properties recently, an office building at 6303 E Tanque Verde Road and multitenant retail at 4322-4328 E Speedway Blvd. in Tucson. Both transactions were the buyer’s upleg in a 1031 exchange.
A multitenant office building at 6303 E Tanque Verde Road sold for $3.3 million ($110.50 PSF). The approximately 30,000-square-foot two story building was built in 1985 on a 1.55-acre lot located at the northwest corner of Tanque Verde and Pima Street.
The investment sold with 13 tenants and 94% occupied at time of sale.
Michael Gross with Tucson Realty & Trust represented the seller, 6303 Tanque Verde, LLC (Forest Metz, manager) of Tucson.
“It’s a great property in a great location for access and views of the Catalinas,” said Gross. “It has a good mix of tenants with some long-term and some newer tenants so there is some upside potential making it a great investment.”
Tucson Realty & Trust will continue to manage the building and Gross will continue to handle leasing for the new owner.
For more information, Gross should be reached at 520.577.7000.
To learn more, see RED Comp #8728.
In a second transaction, the same investor, Thorinson, LLC purchased 10,480-square-feet at 4622-4628 E Speedway Blvd. in Tucson for investment from Speedway Swan Plaza, LLC, (Azzam Taleb, manager) for $1.1 million ($105 PSF).
The two-tenant building was built in 1963 and completely renovated in 2013. Exceptional visibility and signage on Speedway Blvd and covered parking Approximately 44,000 VPD with almost 180 feet of frontage on Speedway and 3 curb cuts.
Two tenants in the property when it sold were: The Blind Guys and Dwight Glass & Tint.
The Blind Guys is a local window fashions dealer offering the full selection of Hunter Douglas custom window treatments, including horizontal blinds, vertical blinds, roman shades, roller shades, sheer shadings, honeycomb cellular shades, woven woods, plantation shutters, motorized blinds and shades, and ultrasonic blind and shade cleaning services. Its showroom is located at 4622 E Speedway Blvd. in Tucson where they serve Tucson and surrounding area.
Dwight Glass & Tint is the premier provider of window tinting and auto detailing services in Tucson and the nearby areas. Since 1986, it has been the number one source for quality auto windshield repair and replacement services. Whether you are interested in tinting your home windows or you need mobile auto glass replacement, Dwight’s can provide the best solutions. It is located at 4628 E Speedway Blvd. in Tucson as well as three other locations in MSA Tucson.
Robert Nolan of Oxford Realty Advisors represented the seller in this transaction,
For additional information, Nolan can be reached at 520.232.0200.
To learn more, see RED Comp #8722.