TUCSON, ARIZONA – Single tenant net-leased investments, whether retail, office, or industrial properties have become one of the most in-demand type of property investments. Ron Zimmerman of Cushman & Wakefield | Picor tells us he had four offers on the following property within 24 hours of listing it.
Santa Ana California investor purchased the 17,428-square-foot industrial building, occupied by Empire Southwest, located at 3830 N. Highway Dr. in Tucson, from William Lee, LLC for $1,938,571 ($111 PSF).
The property consists of two buildings, fenced and gated, built in 1974 with eight grade level roll up doors on 2.4 acres.
The tenant, Empire Southwest is a division of Caterpillar, that sells, rents and provides product support services for Caterpillar equipment. Empire ranks among the top Caterpillar dealers in the world with operations in Buckeye, Flagstaff, Kingman, Lake Havasu, Nogales, Phoenix, Prescott, Safford, Show Low, Tucson and Yuma, Ariz.; and Imperial, Calif. The company offers operator and technician training programs. The company has more than 1,600 employees.
Ron Zimmerman, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller; Christopher Coyte with Lee & Associates, Newport Beach, represented the buyer.
For more information, Zimmerman should be reached at 520.546.2755 and Coyte is at 714.647.9100.
To learn more, see RED Comp #6897.
Southwest Empire Company video here: