Larsen Baker Acquires Tucson / Phoenix Portfolio for $8 Million

TUCSON, AZ (March 28, 2025) — Larsen Baker has acquired a five-property portfolio of mostly industrial and some retail properties from California-based Sydco Realty Company. The portfolio, comprising assets across Central Tucson and one in Phoenix, sold for $8 million. It totals 126,878 square feet at approximately $63 per square foot.

The properties include:

• Tucson:
  • Industrial properties at 526 & 576 E 16th Street
  • Industrial property at 505 E 17th Street
  • Retail properties at 3952 & 3996 N First Avenue
  • Retail property at 712-714 N Stone Avenue
• Phoenix:
  • Industrial property at 3836 & 3840 N 28th Avenue

Tenants occupied all the buildings, and Larsen Baker plans to improve and gradually stabilize the properties.

“Larsen Baker is pleased to take over this well-maintained legacy portfolio from it’s a long-time owners,” said Melissa Lal, president of Larsen Baker. “We see continued upside in well located industrial buildings at well below replacement costs.”

The seller was self-represented in the transactions, and Isaac Figueroa and Frank Arrotta, with Larsen Baker, represented the buyer.

For more information, contact Arrotta and Figueroa at 520.296.0200.

Subscribers should refer to RED Comps #11808, #11813, #11810, and #11809 to learn more.

PHOTO: 5226 E 16^TH Street, Tucson