TUCSON, Arizona – Holualoa Global Loop, a subsidiary of Holualoa Companies, (I Michael Kasser, member) sold the fully leased building at 3301 E Global Loop in Tucson for $13.5 million ($167 PSF) to a group of investors from Anchorage, Alaska.
The 80,600-square-foot building was built in 1998 at Tucson International Business Center, off Palo Verde and Hemisphere Loop, near Tucson International Airport. The property had 28,210-square-foot of offices build out and the rest warehouse with 22 feet clear height on 13.2 acres. Property sold with Raytheon as tenant of the whole building in a net lease sale.
Holualoa Companies is a Tucson-based real estate investment firm focused on the acquisition, repositioning, redevelopment and disposition of underperforming real estate assets. Its investments span the United States and Europe and include office, retail, industrial, multi-family, hotel and mixed-use investment properties.
With offices in Tucson, Phoenix, Los Angeles, Kailua-Kona, HI; Paris, France; and Geneva, Switzerland the Company claims its size as an asset, small enough to maintain a responsive, entrepreneurial spirit, but large enough to commit appropriate resources to opportunities.
The industrial brokerage team of Bill Divito and Jesse Blum with CBRE Tucson office represented the seller, Holualoa, in the transaction.
For more information, Divito and Blum should be reached at 520.323.5100.
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[mepr-show rules="58038"]Sale date 6/30/2017. APN: 140-29-029, -028 & -012, lots 3,19 & 20 of Tucson International Business Center with easements. Property sold at a reported 8.75% cap rate.[/mepr-show]