TUCSON, ARIZONA -- Harsch Investment Properties, LLC purchased 14.19 acres of industrial land at 3761 E. Ajo Way in Tucson, for $2,148,167 ($3.50 PSF) for construction of a 151,840-square-foot speculative building for this site.
Harsch acquired its first property in Phoenix in 1963. In June 2020, it opened its Tucson regional office and now owns and operates over 1 million-square-feet of space in Arizona, as well as 134 acres of well-located land in the Phoenix Metro and 46 acres in Tucson, which could be developed on a build-to-suit basis.
Harsch Investment Properties, a privately-owned real estate Portland-based firm, has been building large spec industrial buildings in Tucson since 2020. The first 157,500-square-foot building, located at the Tucson Airport Distribution Center, became at the time the first large spec industrial real estate project built in metro Tucson since 2009. With easy access to I-10, I-19, Tucson International Airport (TUS) and the Port of Tucson, the site is ideal for companies in the distribution, fulfillment and logistics industries. The project proved successful and Harsh continued with other commercial spec projects.
- 57,263 SF at Butterfield Corporate Plaza
- 153,500 SF at Medina Commerce Center
- 45,500 SF at Oro Valley Commerce Center
- 130,000 SF at Tucson Airport Center with another 141,000-square-feet coming in Phase II, scheduled for Q3 2022
- 271,046 SF at Tucson Airport Distribution Center
- 184,080 SF on 12.77 acre site at Drexel & Tucson Boulevard is also planned for Q3 2022
Harsch acquires, manages and develops properties for its own portfolio. The company owns and operates 28 million square feet of office, multi-tenant industrial, multi-family and retail properties in six western states. Harsch has regional offices in Portland, Seattle, the San Francisco Bay Area, Sacramento, Las Vegas, San Diego and Arizona.
In September, Harsh welcomed Imperial Brown, a leading manufacturer of custom walk-in coolers and freezers, to open a 99,000-square-foot stand-alone building at the corner of E. Medina Road and Brosius Avenue on a 6.73 acre site. Construction of the state-of-the-art facility is set to begin Q1 2022. Imperial Brown has already relocated staff to the Tucson area, to assist with pre-construction and construction phases. Once completed in 2023, the company plans to hire approximately 100 employee-owners at the new location at Tucson Airport Distribution Center. The economic impact of the new operation will be $225 million over the next 10 years, according to Arizona Commerce Authority.
“We are big believers in Tucson and Southern Arizona as a strategic location to continue to grow our business,” said Jordan Schnitzer, Harsch’s president. “Tucson has great success with attracting new businesses and this speculative building will continue to push the region forward as a leader in distribution and logistics operations.”
Gordon Wagner with NAI Horizon represented the seller in this latest acquisition on Ajo Way, Ruby Holdings, LLC . Jesse Blum, Industrial Specialist with Cushman & Wakefield | PICOR, represented the Harsch in the transaction.
For more information, Wagner can be reached at 520.326.2200 and Blum can be contacted at 520.546.2772.
To learn more, see RED Comp #9266.