Long Realty Handles Net Leased Investment Office Condo Sale for $1.42 Million

TUCSON, ARIZONA — Butkus Ventures, LLC of Tucson (Chris Kemmerly, manager) sold the net leased building at 4578 North First Avenue, Suites 140 & 160 in Tucson to a Phoenix investor for $1.415 million ($147 PSF).

Built in 2003, the 9,603-square-foot space in two condominiums is in the Rillito Business Park Condominiums. The property was fully leased to Watermark Retirement Communities.

Watermark Retirement Communities, Inc. is headquartered in Tucson and is part of the Nursing Care Facilities (Skilled Nursing Facilities) Industry. Watermark Retirement Communities, Inc. has 1,528 total employees across all of its locations and generates $109.93 million in sales. There are 26 companies in the Watermark Retirement Communities, Inc. corporate family.

Tony Reed and Kelly Doty with Long Realty represented the seller.  Andrew Ostrander with Keller Williams Professional Partners in Glendale represented the investor.

For more information, Reed can be reached at 520.918.5189 while Doty should be contacted at 520.603.3491. Ostrander is at 623.939.8900.

To learn more, see RED Comp #9050.