Iconic Deconcini Building on Broadway Sells for $4.73 Million

image_pdfimage_print
DeConcini Building, 2525 E Broadway, Tucson, AZ

TUCSON, Arizona – The iconic DeConcini Building at 2525 E Broadway in Tucson sold for $4.725 million ($147 PSF).

The 32,160-square-foot building located on 2.08 acres at the northeast corner of Broadway and Tucson Boulevards was 100% occupied at time of sale and purchased by Broadway Executive Plaza (Robert Assenmacher, manager). The seller was Du Besh LLC (Ken Silverman, manager)

Leasing was handled by Frank Arrotta and Doug Richardson of Tucson Realty and Trust.

The DeConcini family built the building in 1988 and sold it about eight years ago to the seller. Half of the building continues to be occupied by the DeConcini Law Firm. Other tenants include Salinas Insurance, Tucson Realty & Trust, The Veteran’s Administration and Sunstreet Mortgage.

Tom DeSollar, Broker, of Arizona First Properties LLC, represented the sellers, a local group of investors.

“The property had good fundamentals to attract buyers,” DeSollar said.  “It is near downtown Tucson with easy access to the University and the airport. The Broadway widening project will add value to the entire area.”

Brandon Rodgers, CCIM, of Cushman & Wakefield | Picor represented the investors.

For more information, DeSollar should be reached at 520.400.2732.  Rodgers can be contacted at 520.546.2714.

To learn more, see RED Comp #6507.