TUCSON, Arizona — EastGroup Properties of Phoenix purchased 21.76-acres of industrial land at 2850 East Drexel Road in Tucson for $2.844 million ($3 PSF). The property is located southeast of Tucson Blvd and Drexel Road, in the Tucson Airport Commerce Center, near Tucson International Airport.
As owner/developer, EastGroup plans to construct a 300,181-square-foot ground-up, build-to-suit distribution facility for the garage door manufacturer, The Chamberlain Group. Currently located at 6020 S Country Club Road, Chamberlain was interested in expansion and will lease the property from EastGroup. Ground breaking is expected to occur start of Q2, with delivery anticipated towards the end of 2017.
A few of the manufacturing and distributing companies nearby include Intuit, Caid Industries, Pepsi Cola Bottling Company, Modular Mining, Raytheon, Lisa Frank, Britannia, Cobalt Partners, FedEx, and Solar Industries.
Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the buyer and landlord in the transaction. Bill Divito and Jesse Blum with CBRE in Tucson represented the seller, Diamond Ventures in the transaction.
Allen Rogoway with Cresa Chicago and Mike Gordon with Cresa Phoenix represented the tenant, The Chamberlain Group.
For more information, Glaser should be reached at 520.546.2707; Divito is at 520.321.3339 and Blum can be contacted at 520.321.3335.
To learn more, see RED Comp #4436.