Former Northern Trust Bank in Tucson Sells for $1.16 Million

The former Northern Trust Bank in Tucson – Wealth Management Division, at 6444 E Tanque Verde Road sold for $1.155 million ($105 PSF). This 10,963-square-foot Class A building was built in 2002 on a 1.37 acre lot by Northern Trust with a leasehold on the land. When the leasehold terminated the property with building was returned to the seller, PJC Investments LLC of Phoenix (Pat Cusack, managing member).

The Northern Trust Corporation is an American international financial services company headquartered in Chicago, Illinois. It provides investment management, asset and fund administration, fiduciary and banking services through a network of 85 offices in 18 U.S. states and 20 international offices in North America, Europe and the Asia-Pacific region.

The property was vacant when it sold and the buyer, Tanque Verde Square LLC of Tucson (Abraham Slilary, managing member) purchased the property, complete with vault remaining, to lease it..

David Montijo and Nancy McClure of CBRE in Tucson represented the seller.

Juan Teran, CCIM, with Chapman Lindsey Commercial Real Estate Services in Tucson represented the investor in the transaction.

“The building, having been built for the Wealth Management Division of Northern Trust, spared no expense in appeal as a corporate signature property,”  Teran said. “Located in the northeast quadrant of Tucson, the property is surrounded by offices and a myriad of restaurants, hospitals, and other amenities.”

To learn more contact Teran should be reached at 520.747.4000. Montijo and McClure can be contacted at 520.323.5100.

Additional information can also be found by logging in and referencing RED Comp #2822.

(Note: A typo in headline has been corrected to read $1.16, the actual sale prices was $1.155 million for this property.)