Industrial Sales for the Week April 4-8

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Wholesalers Property Co, LLC an affiliate of WinWholesalers of Dayton, OH, the parent company of locally owned Tucson Winnelson Company (Tony Victorino, President) paid[mepr-show rules=”58038″]$1.17 million cash ($46 PSF) for the industrial building at 2565 N Huachuca Drive in Tucson on 2 acres at Grant Road Industrial Park from Tucson Bradley Group, LLC of Newport Beach, CA (Bryan Bradley, member) in a short sale transaction.

WinWholesale conducts business-to-business wholesale distribution of plumbing and heating supplies for commercial and residential new and remodel projects; it has been in Tucson for 35 years dba Tucson Winnelson. The 25,412 sq. ft. building (built 1977) will be used to consolidate Winnelson’s two current locations at 1057 E Mill Street and 3333 N First Avenue under one roof. Moving date was unknown at this time and dependent on the time for TIs.

Victorino commented, “Business is looking up these days, we have several high profile projects in the works such as One East Broadway and another 170-units in Oro Valley; but price and location were the primary reasons we purchased at this time.” The privately-held company consists of approximately 700 wholesaling locations in 18 states, which WinWholesale is an equity partner.

Rob Glaser and Paul Hooker with Cushman & Wakefield / Picor Commercial Real Estate Services in Tucson represented the seller, while Tim Healy and Bob Delaney of CBRE in Tucson represented the buyer in the transaction.

Modern Court Properties, LLC an affiliate of Reprocessing Products Corp in Tucson, AZ (Michael Honstein, partner) a private company that supplies and manufacturers physicians and surgeons equipment bought the industrial building at 1621 W Modern Court at the Shamrock Center from Tessman, LLC of Tempe (Ron Schuman, manager) for $485,000 or about $76 per sq. ft. on a 27,356 sq. ft lot was built in 2008. The seller was an owner/ user and the buyer occupied the building next door at 1623 W Modern Court prior to the sale. The buyer will use property for business expansion.

Ron Zimmerman of Newmark Grubb Knight Frank in Tucson represented the seller, while Paul Hooker of Cushman & Wakefield / Picor Commercial Real Estate Services represented the buyer.

JTM Investments, LLC of Tucson (Joe Middendorf, principal) bought 601 West Rillito for $160,000 ($39 PSF) in an all-cash transaction from Arizona Pipe Trades Joint Apprenticeship of Phoenix. The buyer is a local investor who purchased the vacant, free-standing building to renovate for lease. The building was built in 1963 on a 9,185 sq. ft. fenced lot.

Middendorf had recently sold a property at 618 W Flores in Tucson. See complete story here: https://arizonadailyindependent.com/2013/03/06/sunwest-mining-supply-growing-acquires-8500-sf-industrial-building/

Mark Biery of Prudential Commercial Real Estate of Tucson handled the Rillito transaction for both buyer and seller.

Victorino can be reached at (520) 624-8547. Glaser is at (520) 546-2707 and Hooker is at (520) 546-2704. To reach Zimmerman call (520) 248-0427. Healy can be contacted at (520) 323-5119 while Delaney is at (520) 323-5171. Honstein is at (520) 888-5550. Middendorf is at (520) 206-9175. Biery should be contacted at (520) 577-8333.

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