TUCSON, Arizona – Harsch Investment Properties, a Portland-based real estate investment, development and management company, continued its aggressive growth in Tucson, Arizona with the purchase of Oro Valley Commerce Center for $5.625 million ($124 PSF). A 45,490-square-foot high-tech, R&D industrial property, the recent acquisition puts the company’s industrial portfolio at over 300,000-square-feet in the Tucson metropolitan area.
“We are very pleased to have completed another purchase in Tucson and are looking for more acquisition and development opportunities in the area,” said Jordan Schnitzer, President of Harsch Investment Properties.
Formerly known as Matrixx Business Center, Oro Valley Commerce Center occupies approximately 3.66-acres located at 10831 North Mavinee Drive, off Highway 77 in Oro Valley. Tenants include Roche, Icagen, Freeport McMoRan, Honeywell, NetMedia, and Merle’s Automotive Supply. Shortly after closing, Arbico Organics finalized a lease for 12,039-square-feet here.
“We were attracted to Oro Valley because of the proximity to central Tucson, the growing housing supply and the proximity to some of the region’s best high tech and bio tech companies in the western United States,” said Harsch Investment Properties Senior Vice President and San Diego Regional Manager Bill Rodewald. “The very limited inventory of multi-tenant industrial and flex product was another factor in selecting this market for investment and growth.”
Robert Glaser of Cushman & Wakefield | PICOR Commercial Real Estate Services in Tucson represented the seller in the acquisition.
For more information, Glaser should be contacted at 520.546.2707.
To learn more, see RED Comp #5692.