TUCSON, AZ — EG, LLC of Tucson (Joe Tarver, manager) purchased a 45,675-square-foot industrial building in Butterfield Business Park, 4700 S. Overland Dr. in Tucson, from Legacy Property Management, LLC of Phoenix (Terry Proctor, Manager) for $6.08 million ($133.11 PSF).

The Property is comprised of a single industrial manufacturing facility constructed of concrete tilt-up panels. It was a built-to-suit for the current occupant, Xeridiem, in 1999 on 3.5 acres. Office space is of high quality and the manufacturing areas have substantial power and are fully air-conditioned. Of the building area, approximately 28,451-square-feet, or 62%, is of finished and air-conditioned space. Approximately 14,000-square-feet is dedicated to the cleanrooms with about 14,400-square-feet of office space and approximately 17,280-square-feet of warehouse space.

The single-tenant building was purchased as an investment property and is fully leased to Xeridiem Medical Devices, a medical device contract manufacturer.

Xeridiem has been a proven expert in the design and manufacture of Minimally Invasive delivery and access devices for 25+ years, working closely with customers to help identify their core competencies. The company as an outsourcing partner with customers to develop device concept into a manufacturable design, utilizing extensive development, engineering, QA & RA and manufacturing capabilities. As a result, Xeridiem’s delivers quality products in a timely and cost effective manner and creates the necessary pathway to transfer the design into full scale production at its FDA ISP Class 8 Cleanroom for medical device assembly and manufacturing in Tucson, Arizona.

Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction.  Patrick Lindley, SIOR, with Cushman & Wakefield, Indianapolis, IN, represented the buyer.

For more information, Glaser can be contacted at 520.546.2707 and Lindley should be reached at 317.639.0457.

To learn more see RED Comp #4157.

TUCSON, AZ – Pier 1 Imports at 5919 East Broadway Blvd. in Tucson sold in a net lease sale for $3.782 million ($335 PSF) to a California investor, Barrett Associates of Castro Valley California (Kent Woodell, manager).

Pier 1 has operated at this location for 25 years, since 1990, and recently extended its lease thru May 2023.

The property benefits from its superb retail location immediately across the street from the Park Place Mall, a 1.1 million-square-foot General Growth Properties center with over 150 retail, restaurant and service tenants. Broadway Boulevard is a major east/west arterial in the trade area with over 53,000 cars per day, and more than 250,000 people in a 5-mile radius.

Nordstrom Rack will be opening (2016) nearby at the northeast corner of Broadway and Wilmot Road, joining Dick’s Sporting Goods, TJ Maxx, AT&T and Burger King.

Pier 1 also has great retail synergy with Peter Piper Pizza and Verizon, generating continuous traffic.

The corporate NNN lease with Pier 1 Imports (NYSE:PIR) which operates over 1,000 stores, has a market capitalization of approximately $333 million, 2015 revenue of $1.87 billion (5.3% sales growth in 2015), and a S&P rating of B+.

Nancy McClure with CBRE in Tucson and Philip Voorhees, Megan Wood and John Read with CBRE in Newport Beach California represented the seller, Burnham USA Equities of Newport Beach, CA

For additional information, McClure should be reached at 520.323.5117, and Voorhees is at 949.725.8521.

Login for additional information and to learn more see RED Comp #3994.

[mepr-show rules=”58038″]Property was 100% occupied with a NNN lease with Pier 1 Imports at time of sale and sold with an NOI of $299,105 and a 7.9% cap rate.[/mepr-show]

Tucson Screamers of Tucson (Bobby Sutton, manager) purchased the property at 1102 West Grant Road in Tucson in a lease purchase transaction for $1.3 million ($44 PSF) from Asset Builders of San Diego, CA (Joseph Oliver, manager).

Sutton said, “The building would have probably been a tear down, if I hadn’t leased it in 2009.” Sutton had a vision for the property, the former real slaughter house would become The Slaughterhouse Tucson, a haunted house amusement venue. Today, its claim as ‘Tucson’s scariest haunted house’ should not be underrated, with five twisted themes to choose from: Twisted Tree Mortuary, Cirque du Slay, The Boiler Room, City Meats and The Apocalypse.

The 26,140-square-foot main building was built in 1961 as a real slaughter house, and later converted to a cold storage warehouse.  There is also an additional 8,626-square-feet in out buildings on the property built in 1957 and 1965 certainly makes it the largest Haunted House sitting on 3.77 acres.

Sutton says he has spent over $500,000 in renovating the building since leasing it.

The Halloween season opens from September through October, but by 2017 Sutton told us he hopes to have a weekly Zombie Apocalypse at the Slaughterhouse.

Currently, Sutton’s professional cast is in demand globally delivering a Zombie Apocalypse experience. The company Apocalypse Global licenses its exclusive technology to the entertainment industry and travels with the popular Walking Dead fan club. It’s road crew travels the country with a 5,000 square foot mini maze, a state of the art weapons system, and of course a horde of the undead to shoot at. For the road show, Apocalypse has partnered with numerous Comic-Con style events like Walker Stalker Con, Heroes and Villains Fan Fest, and more!

In addition to the hauntings at the Slaughterhouse, concerts are held there 5-6 times per year. Check the event calendar at www.SlaughterhouseTucson.com for upcoming concerts and www. apocalypseglobal.com for additional information on the Zombie Apocalypse.

To learn more about this sale see RED Comp #3985.