TUCSON, ARIZONA — Rick Borane of Volk Company in Tucson represented local investors, Brandon and Rich Rodgers, in their acquisition of Valencia Commerce Center, a 35,8256-square-foot building on 3 acres of land at 225 & 227 E Valencia Road. The property was acquired for $1.36 million ($38 PSF).
Built in 1986, Valencia Commerce Center is a mixed-use retail, office and industrial incubator space property in two buildings.
The office / retail property had 6,958-square-feet vacant on the office/ retail side at time of sale and 4,372 -square-feet available on the industrial side. The property was 68% occupied at time of sale. The office / retail portion had five tenants: 1st Chiropractic, Javier’s Salon, The People’s Choice Video Express, Orthodontic Professionals, and Bravo Services.
The buyers purchased for investment and intend to make improvements such as adding a fenced storage yard in back and additional parking.
Max Fischer with Cushman & Wakefield has the leasing assignment for the property and can be reached at 520.465.9989.
The seller, a family trust, was represented by Michael Stilb of M.A.S. Real Estate Services.
For additional information, Borane should be contacted at 520.326.3200.
To learn more, see RED Comp #7657.