TUCSON, ARIZONA – A freestanding office building, at 2918 West Ina Road in the Heritage Plaza in the Northwest Submarket of Tucson, recently sold to a California investor for $925,000 ($231 PSF). The 3,997-square-foot building, built in 1990, was last occupied as a Gental Dental Office. This was the buyer’s upleg in a 1031 exchange.
The building was vacant at time of sale and buyer purchased to re-tenant.
Richard M Kleiner, MBA, Principal, Office Specialist with Cusheman & Wakefield | PICOR and Paul Blum with West USA Realty, Inc. represented the seller, BFD Investments of Phoenix (Marshal Castille, manager). The investor, RR Properties I, LLC of Woodland Hills, CA (Renato Parada, manager) was self-represented.
For more information, Kleiner should be reached at 520.748.7100 and Blum can be contacted at 602.369.7575.
To learn more, see RED Comp #9709.
In a second transaction, nearby in La Cholla Corporate Center, 7618 N La Cholla Blvd. in Tucson sold for $360,000 ($196 PSF). This 1,833-square-foot office condominium was built in 2005 and sold to be owner occupied dba Maria Emma Sneddon, a CPA Firm.
The buyer was also in a 1031 exchange.
Jordan Simon and Karen Farrell with Venture West, developers of La Cholla Corporate Center, represented the seller, California Bill’s Automotive Handbooks, LLC (Howard Fisher, manager) and Kristy Kelley with Long Realty represented the buyer in this transaction.
For more information, Simon and Farrell should be contacted at 520.722.9292 and Kelley can be reached at 520.577.7400.
To learn more, see RED Comp #9722.