TUCSON, ARIZONA (June 19, 2023) – An industrial property at 3151 E Drexel sold for $2.52 million ($85 PSF) for investment recently.
Built in 1972, the corner building sits on a large, fully fenced lot, features 12 parking spaces, eight offices, six in the front with HVAC and two in the back section, column spacing 40’ x 31’, and 3 phase, 1200 AMPS power. A 1200-square-foot Vault Door Secured Room with HVAC, three dock-high doors, and three grade-level doors, all ADA Compliant.
The seller, MRK Global Network (Mr. John Kra, manager), a wholesaler of gems, minerals, beads, pearls, jewelry, and gift items, will continue to occupy the property until the business and inventory are sold, doing a short-term sale-leaseback.
The buyer, RedSwell, LLC is based in San Diego and purchased the property to re-lease.
Jake Arnold and Omer Kreso with Realty Executives Arizona Territory in Tucson handled the transaction for both buyer and seller.
For more information, Arnold can be reached at 707.293.5281 and Kreso is at 520.247.7480.
To learn more, see RE Comp #10696. The transaction closed on May 25, 2023.