TUCSON, ARIZONA -- Rancho California Center, LP of Los Alamos, NM purchased a sale/leaseback investment property located at 6885 E. Southpoint Rd. in Tucson for $11.25 million ($119 PSF) in an all cash transaction. The single-tenant, triple-net leased investment was purchased from Teritom Holdings, LLC of Tucson (Tom Regina, manager).
Built in 1992, the property is 94,831-square-feet of Manufacturing/Warehousing (95,605-square-feet including mezzanine office), with 10,400-square-feet of office (including 3,158-square-feet mezzanine area). With two 2,000 Amp, 277/480 Volt, 3 phase entrances, this single tenant triple net leased investment is leased to American Openings, a window and door manufacturer and sits on 12.11 acres in the SouthPointe Industrial Park at the northwest corner of Kolb and Valencia Roads.
The asset sold with a five-year lease term from closing date, August 18, 2021.
American Openings is a family-owned, 3rd generation Tucson business, started in 1992. It manufactures top-quality replacement windows and doors here in Tucson with 100% USA-made parts.
American Openings windows are constructed of Low-E, double-pane glass, an argon gas insulating layer, Envirosealed WindowsTM spacing materials, and your choice of vinyl or aluminum frames. American Openings also sells fiberglass exterior or patio doors, which are more energy efficient and durable than wood. The company also builds sliding patio doors with either aluminum or vinyl frames.
American Openings can also do its own installations for commercial window and door installations
Stephen D. Cohen, Principal, and Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction. Ronald King, SIOR, and Joseph McDermott, with Kidder Mathews of California, represented the buyer.
For more information, Cohen should be reaches at 520.546.2750 while King can be contacted at 858.369.3011 and McDermott is at 858.369.3012.
To learn more, see RED Comp #9073.