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.