TUCSON, ARIZ. (July 17, 2025) – FJM Investments and its affiliate, SBC Investors, a privately held real estate investment firm based in San Francisco, has acquired the Tucson Tech Park, a multi-building light industrial campus totaling 87,694 square feet on 5.56 acres, for $8,710,000 ($99 PSF). The sale closed on July 11, 2025.

The portfolio includes five addresses: 1622 E. 17th Street, 1665 and 1700 E. 18th Street, and 160 and 1662 E. Winsett Street, located in Tucson’s central industrial corridor. The seller was DeBell Investments, LLC, along with affiliated entities based in Paradise Valley, Arizona.

The acquisition marks FJM’s second industrial purchase in the Tucson market in 2025, further expanding its growing portfolio of small-bay, value-add industrial properties across the western United States.

Earlier this year, FJM acquired the Camino Martin Industrial Park in Marana, a 26,400-square-foot property located at 6898–6910 N. Camino Martin, for $2.5 million ($95 PSF). That transaction was brokered by Andrew Keim and Alex Demeroutis of Cushman & Wakefield | PICOR, with Max Fisher of BRD Realty representing the seller, Acorn Ventures.

Combined, the two purchases add more than 114,000 square feet of industrial space to FJM’s Arizona holdings, highlighting the company’s commitment to Tucson’s fast-growing industrial submarkets.

Built in 1979, Tucson Tech Park consists of small-bay flex and warehouse units designed to accommodate a mix of industrial, light manufacturing, and service tenants. Features include tilt-up concrete construction, multiple roll-up doors, evaporative-cooled warehouse space, and air-conditioned office areas. The site is zoned I-1 (Light Industrial) and features striped surface parking, underground utilities, and easy access to the downtown core and I-10, having been sold fully occupied.

Paul Boyle with Cushman & Wakefield (Phoenix) represented the buyer and Gordon Rasmussen with Martin Property Advisors (Phoenix) represented the seller.  Leasing for Tucson Tech Park will be handled by Andrew Keim and Alex Demeroutis of Cushman & Wakefield | PICOR, who have the leasing assignment for the property.

FJM Investments specializes in acquiring functional, small-to-mid-size industrial assets across high-demand, supply-constrained markets. With more than 2 million square feet under management, the firm’s portfolio spans Arizona, California, Nevada, Oregon, Texas, and Utah. FJM’s strategy centers on acquiring well-located properties below replacement cost and improving long-term performance through strategic leasing and capital upgrades.

In Tucson, FJM also owns the Ajo-Evans Business Park, reinforcing its focus on central infill submarkets poised for growth.

The acquisition comes amid continued interest in Tucson’s industrial sector, as rising demand, constrained inventory, and relatively low pricing per square foot attract private and institutional investors alike. With Tucson’s vacancy rates hovering near record lows and new construction limited to select Class A sites, value-add flex properties like Tucson Tech Park offer significant upside potential.

At approximately $99 per square foot, the Tucson Tech Park transaction aligns with recent comparable trades in the metro area’s light industrial category.

For additional information on this sale, please contact Boyle at 602.908.3979.

Source: RED Comp #11991

TUCSON, AZ (November 7, 2024) — A 2.1 acres of vacant land at 8790 – 8800 E Speedway Blvd in Tucson sold for $700,000 ($7.65 PSF).  The property was rezoned to C-2 while in escrow, and entitlements were obtained for a self-storage facility.

The buyer, JSF Speedway Blvd., LLC of Spartanburg, SC plans to build an Extra Space Storage.

The transactions occurred on September 19th.

Extra Space Storage is the largest operator of self-storage facilities and the largest third-party self-storage management company. Founded in 1977, it has grown to include more than 3,500 locations nationwide and has its headquarters in Salt Lake City, UT.

The assemblage was completed in two transactions owned by related sellers Kenneth and Joanne Tan, and Allan and Beverly Tong.

Kristy Kelly with Long Realty represented both sides in the transaction. For more information, Kelly can be reached at 520.954.1209.

To learn more, subscribers should refer to RED Comps #11491 and #11492.

TUCSON, AZ, USA, (October 31, 2024) — Mattamy Homes, the largest privately owned homebuilder in North America, has recently expanded its presence in the Tucson market with the purchase of 13.4 acres of land in Windmill Ridge at Mountain View Ranch, located in the sought-after town of Vail, Arizona.

The land was purchased for $1.14 million and closed on September 18, 2024.

This land acquisition represents Mattamy’s first lot take-down entrance into the larger Mountain View Ranch master-planned community. Mattamy will feature 50 single-story homes ranging from 2,278-3,056 square feet, situated on 3/4 to 1-acre lots. Select floorplans will also offer options for four-car garages or RV garages.

“We are delighted to bring the Mattamy Way to the Mountain View Ranch community,” said Anjela Salyer, President of Mattamy’s Tucson Division. “This location within Pima County offers breathtaking views of the Rincon Mountains and convenient access to top-performing schools, major employment hubs and natural preserves. We are eager to bring our high-quality homes to this community, and we believe it will be a valuable addition to our strategically located communities available across the Tucson region.”

One of the major draws of Mountain View Ranch is its location in the highly acclaimed Vail Unified School District. In addition, the community also offers convenient access to employment corridors at the University of Arizona Tech Park, Davis Monthan Air Force Base, and downtown, via Interstate 10.

As part of its commitment to preserving the natural beauty of the area, Pima County has been granted trail easements within the open space areas of the community for future planned trailways. The community is surrounded by natural desert open space, with stunning views of the Rincon Mountains to the east.

Residents of Mountain View Ranch will have easy access to the Cienega Creek Natural Preserve, a 4,000-acre preserve located just a 10-minute drive away. This community also connects to the 819-mile-long Arizona Trail, perfect for outdoor enthusiasts. Further north of the preserve is the Colossal Cave Mountain Park, where residents can enjoy horseback riding, hiking, camping and more.

Model homes for Mountain View Ranch are expected to start in Fall 2024, with sales beginning in the early 2025.