TUCSON, ARIZONA -- Rockefeller Group sold the Rockefeller Group Distribution Center - Phase I industrial building / distribution center at 6855-6751 S. Lisa Frank Ave. in Tucson, AZ for $10.125 million ($89 PSF) to Harsch Investment Properties, a Portland-based real estate investment, development and management company.
Formerly known as Rockefeller Distribution Center, the building is 79% leased by two tenants and is less than half a mile east of Harsch Investment Properties’ fully leased 130,000-square- foot Tucson Airport Center.
“This state of the art LEED Silver Industrial Park marks our third acquisition in the Tucson Airport sub market and is a strategic move for us in the area,” said Harsch Investment Properties Senior Vice President and San Diego Regional Manager Bill Rodewald. “The fact that we can accommodate our growing tenant base in the projects currently available vacancy is a key advantage as is the potential to develop the two parcels of land for significant future expansions and build to suits.”
The 113,546-square-foot building sits on 21.5 acres in Pima County. It features 40 loading docks and four drive-in bays in addition to 7,000-square-feet of built-out office space. Both tenants at Tucson Airport Distribution Center are among the state’s fastest growing businesses. Safelite AutoGlass is the nation’s largest provider of vehicle glass repair and replacements services and their Tucson warehouse allows them to provide same-day or next-day service to local customers in Arizona and New Mexico. OnTrac is a parcel logistics company with operations throughout the Western United States, arranging overnight delivery at ground rates to more than 60 million consumers.
The development/construction team won the coveted AZRE RED (Real Estate Development) 2010 Award for the Best Industrial Project in Arizona. The team included The Rockefeller Group of Manhattan, New York, represented by Arizona regional director Mark Singerman; Chestnut Construction, 2127 E. Speedway, represented by Vice President Robert Sisley; and Cushman & Wakefield | Picor Commercial Real Estate, 1100 N. Wilmot Road, represented by President Mike Hammond.
The industrial building/distribution center is the Rockefeller Group’s first development project in Tucson. The structure’s envelope, lighting, heating/cooling system, reflective roof material, dual-glazed glass, and use of skylights and photo cells to control lighting all optimize the building’s energy efficiency. Altogether, the green features resulted in a 40 percent energy use reduction compared to normal design standards.
Rick Engineering, 3945 E. Fort Lowell Road, also worked on the award-winning project.
Rob Glaser, SIOR, CCIM, of Cushman & Wakefield | Picor Commercial Real Estate Services in Tucson and Mike Adey, Jeff Chiate, Jeffrey Cole, Edward Hernandez and Nico Napolitano of Cushman & Wakefield in Irvine represented both the buyer and the seller in the sale.
Rob Glaser and Stephen Cohen of Cushman & Wakefield | Picor Commercial Real Estate Services in Tucson will continue to handle the leasing.
To learn more, see RED Comp #5174.