TUCSON, ARION -- Labrador Capital, LLC (Robert Assenmacher, manager) purchased a 10,120-square-foot office building located in Camp Lowell Corporate Center, 4544 E. Camp Lowell Dr. (Building. K) in Tucson, from RLP Building, LLC (Rick Gregson, member) for $2.37 million ($234 PSF).
The two-story Class “A” office building is the signature property at Camp Lowell Corporate Center as it is situated at the entryway into the development. The property is situated in the robust East Central Office Sub-Market area which is considered one of the most desired office and/or medical locations in Tucson. This corporate headquarters styled building was fully leased with the main tenant occupying over 90% of the building since it was first built specifically for them in 2004.
The other tenant has been in the building for many years and is on a short-term lease should the anchor tenant need space to grow. This arrangement has been in place for many years.
The building was recently painted, carpeted and had all of the HVAC units replaced. It has been well maintained by the tenants. All of these recent upgrades were paid by the tenants in late 2018.
The investment sale occurred April 26, 2019
Brandon Rodgers, SIOR, CCIM, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, represented the buyer in this transaction. Mark Irvin, SIOR, CCIM with Mark Irvin Commercial Real Estate Services, LLC, represented the seller.
For more information Rodgers can be reached at 520.546.2714 and Irvin should be contacted at 520.620.1833.
To learn more, see RED Comp #6749.