Last Available Office Condo at Ina Road Professional Center Sells for $1.15 Million

Approximately 7,462-square-feet of office space at 1631 West Ina Road sold in shell condition with a 6,854-square-foot building pad for $1.15 million ($154 PSF) at Ina Road Professional Center, located on Ina Raod west of La Canada and east of La Cholla in the Northwest submarket.

The buyer was Dr. Jeanette K Wendt, a neurologist and Research Director of NNS Clinical Research, currently located nearby at 5910 N La Cholla Blvd. NNS participates in neuroscience research as part of an ongoing effort to improve care and enhance lives. The staff at NNS Clinical Research is involved in numerous clinical trial studies with a focus on Alzheimer’s Disease, Multiple Sclerosis and Parkinson’s Disease.

The office space will be built out as a neurological research and testing clinic and the adjoining fully improved building pad held for future expansion up to 14,496-square-feet. The center has front door parking 1:139 ratio and outstanding access and signage along Ina Road.

NNS Clinical Research will be in the west end of the building shared with BodyBasics in 1631 W Ina Road, Suite 111.

Dean Cotlow of the Cotlow Company in Tucson represented the seller, Amigo Properties LLC of Tucson (Mike Kelley and Mike Evans, members).

The Ina Road Professional Center was first developed as a medical center by a group of physicians, but it developed with portions as leased fee interest and others fee simple, it was complicated and very difficult to manage as a condominium complex. Cotlow told us that all the mixed forms of ownership have since been cleaned up at the Center, something that long needed to happen to improve the centers’ desirability in this great Northwest location.

Currently there are two building pads, each 6,700-square-feet, ready for building and a back 2.5 acre CR-1 zoned pad still available in the center.

Doug Marsh with Oxford Realty Advisors in Tucson represented the buyer in the transaction.

To learn more Marsh can be reached at 520.232.0200. Cotlow should be contacted at 520.241.0180.

[mepr-show rules=”58038″]Sale date: 12/5/2014. All cash transaction. Escrow time was 45-days. No additional conditions other than building was in shell condition.[/mepr-show]