TUCSON, ARIZONA, April 12, 2023 -- After 20 years at the downtown block of 29 thru 58 West Congress Street, Buck Baccus and Swain Chapman sold the property to Hazen Enterprises on April 7, 2023.
Brandt Hazen purchased the 17,179-square-foot retail and office space for $4,500,000 ($262.00 PSF).
Baccus and Chapman have owned the property adjacent to, and immediately west of, the historic Fox Theater since 2000.
"Although we have a lot of history with this property and a deep loyalty to the downtown community, the timing was right for us to sell. We know that Mr. Hazen will be a good steward of the property and supporter of the FOX as the Hazen family has called Tucson home for nearly as long as this iconic building has existed. They intend to honor its heritage,” said Swain Chapman.
Chapman Management Group will continue its commercial property management business as a tenant in the building. “We continue to be a staunch supporter of the downtown revitalization and look forward to future projects,” Chapman said.
The transaction was facilitated by Erik Chapman, CCIM®, CPM®, with Chapman Management Group representing the seller, and Bryce Horner, with PICOR Commercial Real Estate representing the buyer.
For more information, Chapman can be reached at 520.622.5544 and Horner at 520.546.2737.
To learn more, see RED Comp #10603.