Tucson, AZ, (June 5, 2024) –Larsen Baker is pleased to announce the sale of Building G, the freestanding 4,998 sf office building in the El Dorado Square office campus at 1200 N El Dorado Place. The buyer, Lerdal 1200, LLC, an affiliate of Chapman Management Group, purchased the building intending to occupy a portion.

The building sold for $780,300 ($156 PSF).

Larsen Baker purchased the nine-building office complex at the beginning of the year with the strategy of upgrading the landscaping, roofs, HVAC, and other systems, backfilling the vacancies with high-quality office/medical tenants at competitive market rates, and reserving up to three buildings for sale for owner/user or investor. Only two buildings are left available for sale with the sale of Building G.

Isaac Figueroa, CCIM, SIOR, with Larsen Baker, represented the seller, and Erik Chapman, with Chapman Management, represented the buyer.

For more information, contact Figueroa at 520.296.0200 ext 218, or Chapman at 520.622.5544.

TUCSON, AZ (June 4, 2024) —  The Menlo Townhouses at 1331-1349 West Pennington Street in Tucson sold fro $1.34 million  ($134,000 per unit) at the corner of Pennington and Silberbell Road in the Menlo Park area.

Built in 1978, the 10 units, totaling 7,074 square feet, sit on .69 acres zoned R-2. The unit mix includes six recently remodeled units: (4) 1-bedroom/1 bath units and (6) 2-bedroom / 1 bath units. The property has 20+ parking spaces in the rear with street parking, all 5 minutes from downtown Tucson and 10 minutes from UArizona. The units have individual parcels and could be sold individually.

Rob Lamb with Long Realty Company represented the seller, Phelps Western Investments of Los Altos, CA, and Allen Mendeslberg and Joey Martinez with Cushman & Wakefield | PICOR represented the buyer Menlo Townhomes, LLC of Redondo Beach, CA.

For more information, Lamb should be reached at 520.444.4411 and Mendelsberg is at 520.546.2721, while Martinez can be contacted at 520.546.2730.

To learn more, see RED Comp #11288.

TUCSON, AZ (May 31, 2024) – Elm Street, LLC (Daniel Duke, manager) of Tucson made a significant move in the real estate market by purchasing the industrial property at 4550 South Country Club Road in Tucson for $1,175,000 ($235 PSF).  Duke is a large investor in Gem Show properties in the Tucson market.

Built in 1964, the 5,000-square-foot building on 1.29 acres was occupied by a single tenant, Phoenix Welding Supply Tucson, at time of sale and sold for investment.

The seller was PAR-TECH, LLC of Phoenix c/o L. Michael Dye Family Trust.

In a second transaction, the same buyer, under Michigan Street, LLC (Daniel Duke, manager), purchased 0.28 acres of industrial land at 3433 and 3441 E Michigan for $175,000 ($11.25 PSF). The buyer also owns the adjoining property at 3417 E Michigan Street and has assembled approximately one acre at the corner of Michigan and Milber Street.

The seller was The Price Trust c/o Mary L Price as trustee.

Both transactions closed on May 3, 2024.

Kameron Norwood, an Investment Sales and Leasing Specialist with Cushman & Wakefield | PICOR, played a pivotal role in these transactions, representing the buyer and handling the deals professionally.

For more information, Norwood should be reached at 520.546.2792.

To learn more, see RED Comp #11284 and #11323.