TUCSON, ARIZONA (February 26, 2026) - Commercial Properties, Inc./CORFAC International (CPI), Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the successful sale of a 45,042 SF industrial asset located at 450 E. Irvington Road in Tucson, Arizona. The transaction closed for a total consideration of $4.9 million ($108.78 PSF).
Jeff Hays and Sam Rutledge of CPI represented the buyer, 450 Propco Tucson (Capital Bay Partners), in the acquisition. The purchase highlights the continued institutional and private demand for high-utility industrial assets within the Tucson South submarket. ” We’re excited to add this asset to our portfolio and continue expanding our footprint in high-demand industrial markets, stated Capital Bay Partners. “Thank you to Jeff Hays and Samuel Rutledge for getting this deal smoothly across the finish line.”
The property, situated on a sprawling ±10.9-acre site, features approximately 45,000 square feet of industrial buildings. Notably, the site is a well-established hub for building material distribution, currently 100% leased to Arizona Building Supply (a division of US LBM). Its strategic location provides exceptional logistical advantages, as it sits just one mile from Interstate 10 and approximately four miles from Tucson International Airport.
"This acquisition represents a significant opportunity for our client to secure a mission-critical industrial site with substantial outdoor storage—a commodity that is increasingly scarce in today's market," said Jeff Hays, Senior Vice President at CPI. "The combination of a long-standing tenant and the property’s proximity to major transportation infrastructure makes it a premier addition to Capital Bay Partners’ portfolio. We’d like to recognize Brandon Pike and Justin Smith with Capital Bay Partners and the Listing Broker, Mark Williams, with Preferred Real Estate Brokers."
The site’s features include a functional warehouse layout, an active rail spur, and extensive usable acreage zoned for Light Industrial (I-1) use. This sale follows a strong year of activity for the Hays/Rutledge team, which remains a dominant force in the Arizona industrial and Industrial Outdoor Storage (IOS) sectors.
For additional information, please contact Jeff Hays at [email protected] or (480) 889-25525, or Sam Rutledge at [email protected] or (480) 621-3292.
Source: RED Comp #12340