TUCSON, ARIZONA -- Hughes Federal Credit Union purchased 79,072 square feet of industrial flex space at 3301 - 3321 E. Global Loop in Tucson. The property was purchased from Global Loop Tucson, LLC, Mercator Properties, LLC, and RSD MT Marathon, LLC c/o Dire Wolf Ventures of Anchorage, AK for $13,893,950 ($176 PSF).
The class A brand new interior build out has multiple bathroom cores, break areas, coffee stations, wellness rooms, and conference rooms of various sizes. Power up to 8,000 amps of electrical that is fully redundant, serviced by two separate substations. Generator existing fenced pad with conduit to the interior electrical room, new 300-ton water cooled chiller, and a clear height minimum of 22 feet. High density parking (8+ to 1,000 SF) is expandable. The property is also located in an Opportunity Zone.
The transaction closed May 9, 2022. Hughes Federal Credit Union purchased the property for administrative back office support use for the credit union.
Hughes Federal Credit Union was formed in 1952 in Tucson to serve the financial needs of Hughes Aircraft Company (now Raytheon) employees and their families. In 1992, it merged with Arizona Transportation Credit Union, which served Union Pacific Railroad employees and more than 400 other select employee groups in Phoenix and Tucson. In 2001, the National Credit Union Administration approved Hughes Federal Credit Union to serve the underserved community in Tucson providing membership eligibility to anyone who lives, works, worships or attends school in Tucson. In 2020, it merged with APC Employees Federal Credit Union, which served Arizona Portland Cement and Cal Portland employees and their families in Arizona.
Today, Hughes Federal Credit Union serves more than 169,000 members and has more than $2 billion in assets.
Jesse Blum and Stephen D. Cohen, Principals and Industrial Specialists with Cushman & Wakefield | PICOR, represented the seller in this transaction. Brian Harpel with Velocity Retail Group, Tucson, represented the buyer.
For more information, Blum can be reached at 520.546.2772, Cohen can be contacted at 520.546.2750 and Harpel should be reached at 520.721.7999.
To learn more, see RED Comp #9864.