North Carolina-based Old Dominion Freight Line (David Congdon, CEO) bought 8.6 acres of land at 3375 E. Corona Road in Business Park of the Desert for $1,181,647 ($3.15 PSF) from Business Park of the Desert LLC (Stephen Cohen, manager).
The price was based on a price per square-foot for the original size parcel of 9.4 acres that had to be adjusted for common area while sale price remained the same.
The property is located between two new distribution facilities operated by HomeGoods and FedEx Ground. The site was purchased for future growth by Old Dominion Freight Line. Specific building plans were still under discussion when we spoke to the buyer.
Old Dominion is a less-than-truckload (LTL) carrier that is more than 80 years old and provides regional and national distribution, as well as logistics services.
It’s Tucson service center is currently at 2202 North Dragoon Street, west of Interstate 10 and Grant Road. It also has service centers in Phoenix and Flagstaff.
Pat Welchert, SIOR, Industrial Specialist with Cushman & Wakefield | Picor, represented the buyer and Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | Picor, represented the seller in this transaction.
For additional information, Welchert can be reached at 520.546.2748. Cohen should be called at 520.546.2750 and Hall is at 520.546.2747.
To learn more, see RED Comp #3887.
Other recent industrial sales completed at Cushman & Wakefield | Picor included the sale of 818 South Plumer Avenue and 2135 East Eastland Street in Tucson to 818 Plumer LLC of Tucson (Martin Smith and Norman Record, Jr. members) for $317,000 ($59.54 PSF).
The 5,324-square-foot industrial building on .39 acres was purchased to be owner occupied by Record Enery Concepts, an HVAC serrvice company and consists of a 3,578-square-foot office (built 1982) and a 1,746-square-foot showroom/warehouse (built 1984).
Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | Picor handled the transaction.
For more information, Rodgers can be contacted at 520.546.2714
To learn more, see RED Comp #3876.
Long Far Investments LLC purchased a 6,212-square-foot industrial building located at 3311 N Chapel Avenue in Tucson form Burt E Lake and Billie Louise Lake Revocable Living Trust for $240,000 ($38.63 PSF).
The property was vacant at time of sale and sold to lease by buyer after renovations into a two industrial units each with fenced yards. Built in 1982 and 1984, the building can be split for dual occupancy; the property is located west of Alvernon Way and north of Fort Lowell.
Paul Hooker, Industrial Specialist with Cushman & Wakefield | Picor handled the transaction and will handle the leasing of property for new owner.
For more information, Hooker should be reached at 520.546.2704.
To learn more, see RED Comp #3878.
