TUCSON, ARIZONA (January 26, 2023) -- 8500 S Rita Road, LLC, an affiliate of Chrome Hearts, LLC apparel and accessories of Los Angeles purchased the 116,898 square-foot building on 13.83 acres at 8500 S Rita Road for $13 million ($111 PSF). The property adjoins the 38.92 acres of industrial land purchased in November, 2022 for $2.5 million ($64,234 / acre), bringing the assemblage to approximately 53 acres for this project.
While it began in an LA garage, the brand, Chrome Hearts, now occupies three blocks in Hollywood, a 250,000-square-foot campus that includes thirteen buildings, eight factories, and this new industrial site in Tucson for an undisclosed use.
Rob Glaser, SIOR, CCIM, and Jesse Blum of Cushman & Wakefield | PICOR represented the seller, Mithril Real Property Inc. of Tucson and Gary Emerson of GRE Partners with Robert Cohen of Newmark Knight Frank in Los Angeles represented the buyer.
For more information, Glaser and Blum can be reached at 520.748.7100 and Emerson should be reached at 520.777.4949.
To learn more, see RED Comp #10432 and #10295.