TUCSON, ARIZ. (July 17, 2025) – FJM Investments and its affiliate, SBC Investors, a privately held real estate investment firm based in San Francisco, has acquired the Tucson Tech Park, a multi-building light industrial campus totaling 87,694 square feet on 5.56 acres, for $8,710,000 ($99 PSF). The sale closed on July 11, 2025.
The portfolio includes five addresses: 1622 E. 17th Street, 1665 and 1700 E. 18th Street, and 160 and 1662 E. Winsett Street, located in Tucson’s central industrial corridor. The seller was DeBell Investments, LLC, along with affiliated entities based in Paradise Valley, Arizona.
The acquisition marks FJM’s second industrial purchase in the Tucson market in 2025, further expanding its growing portfolio of small-bay, value-add industrial properties across the western United States.
Earlier this year, FJM acquired the Camino Martin Industrial Park in Marana, a 26,400-square-foot property located at 6898–6910 N. Camino Martin, for $2.5 million ($95 PSF). That transaction was brokered by Andrew Keim and Alex Demeroutis of Cushman & Wakefield | PICOR, with Max Fisher of BRD Realty representing the seller, Acorn Ventures.
Combined, the two purchases add more than 114,000 square feet of industrial space to FJM’s Arizona holdings, highlighting the company’s commitment to Tucson’s fast-growing industrial submarkets.
Built in 1979, Tucson Tech Park consists of small-bay flex and warehouse units designed to accommodate a mix of industrial, light manufacturing, and service tenants. Features include tilt-up concrete construction, multiple roll-up doors, evaporative-cooled warehouse space, and air-conditioned office areas. The site is zoned I-1 (Light Industrial) and features striped surface parking, underground utilities, and easy access to the downtown core and I-10, having been sold fully occupied.
Paul Boyle with Cushman & Wakefield (Phoenix) represented the buyer and Gordon Rasmussen with Martin Property Advisors (Phoenix) represented the seller. Leasing for Tucson Tech Park will be handled by Andrew Keim and Alex Demeroutis of Cushman & Wakefield | PICOR, who have the leasing assignment for the property.
FJM Investments specializes in acquiring functional, small-to-mid-size industrial assets across high-demand, supply-constrained markets. With more than 2 million square feet under management, the firm’s portfolio spans Arizona, California, Nevada, Oregon, Texas, and Utah. FJM’s strategy centers on acquiring well-located properties below replacement cost and improving long-term performance through strategic leasing and capital upgrades.
In Tucson, FJM also owns the Ajo-Evans Business Park, reinforcing its focus on central infill submarkets poised for growth.
The acquisition comes amid continued interest in Tucson’s industrial sector, as rising demand, constrained inventory, and relatively low pricing per square foot attract private and institutional investors alike. With Tucson’s vacancy rates hovering near record lows and new construction limited to select Class A sites, value-add flex properties like Tucson Tech Park offer significant upside potential.
At approximately $99 per square foot, the Tucson Tech Park transaction aligns with recent comparable trades in the metro area’s light industrial category.
For additional information on this sale, please contact Boyle at 602.908.3979.
Source: RED Comp #11991