TUCSON, ARIZONA -- Rain Bird Corporation purchased the building at 6991 E Southpoint Road in Tucson, Arizona for $14.05 million ($52 PSF).
Built in 1989, the 270,665-square-foot warehouse / distribution building sits on 25.7 acres northwest of Kolb Road and Valencia Road, near Tucson International Airport. Rain Bird was a long-term tenant of the property prior to purchase.
Rain Bird Corporation is a privately held company, founded in 1933 during the agricultural boom in California. The company is a leading global manufacturer and provider of irrigation products and services. Since the beginning, Rain Bird has produced and offered the industry’s broadest range of irrigation products for farms, golf courses, sports arenas, commercial developments and homes in more than 130 countries around the world.
Over the past eight decades, Rain Bird has been awarded more than 450 patents worldwide, including the first in 1935 for the original horizontal action impact drive sprinkler, which revolutionized the food production industry and ushered in a new era in irrigation, worldwide.
The original impact sprinkler was designated a historic landmark in 1990 by the American Society of Agricultural Engineers.
Today, Rain Bird offers over 4,000 water-saving irrigation products and services and has offices around the world with a commitment to The Intelligent Use of Water™ .
Bob Davis and Tom Hunt, founders of Tango Commercial Real Estate represented Rain Bird in the transaction.
“This purchase shows the commitment of a world class corporation such as Rain Bird to the Tucson community,” Hunt said.
Robert C. Glaser, SIOR, CCIM, of Cushman & Wakefield | Picor represented the seller, EastGroup Properties, LP of Ridgeland, MS..
For more information, Hunt and Davis should be reached at 520.276.9779 and Glaser can be contacted at 520.546.2707.
To learn more, see RED Comp #7356.