TUCSON, ARIZONA – Cox Communications Corporate Office at 1440 East 15th Street in Tucson sold in a net lease transaction for $8.15 million ($263 PSF). The 28,591-square-foot building on 4.86-acres was built in 1988 as a built-to-suit for another television station and was later used for a local radio station.
The radio tower continues to be leased separately to another company.
The nation’s 4th-largest cable provider, Cox services residents of Tucson, South Tucson, Davis-Monthan, Patagonia, Green Valley and parts of Sahuarita. Since 1994, Cox has offered broadband, digital cable, cable and Internet services and PPV along with several local specialty channels, including the City of Tucson channel and several public-access channels.
Property was fully leased to Cox Communications that will continue to occupy it in a net leased investment sale that sold at a 5.9% cap rate.
Mindy Korth of Colliers (Phoenix) represented the seller, Net2 Cox, LLC of New York and the investor, 1440 E 15th Street, LLC of Irving, Texas.
For more information, Korth should be reached at 602.222.5005.
To learn more, see RED Comp #9790.