Investment Group Trades Tucson Office Complexes

Pima Professional Plaza

TUCSON, Arizona — EJC Properties LLC and 18 Central LLC of Tucson, investment groups formed by Eddy Chernecki, recently sold Pima Professional Plaza at 5700 E Pima Street in Tucson for $2.165 million ($108 PSF).

The medical offices in a campus-style setting were built in 1978, and have nine office spaces in 20,041-square-feet on 2.23 acres. Located minutes from Tucson Medical Center and St. Josesph’s Hospital in the northeast submarket of Tucson, the property was fully leased when it sold to a Gilbert, Arizona Trust.

Aubrey Finkelstein with Vast Real Estate Solutions handled the leasing for the property and Rob Fischrup and Jon O’Shea also with Vast Real Estate Solutions handled the sale transaction.

Dana Elcess, Property Manager with Cushman & Wakefield | Picor will be handling the management for new owner.

Broadway Proper

Chernecki and Associates then purchased a value-add 53,450-square-foot office complex, Broadway Proper, at 7650-7670 E Broadway Blvd in Tucson for $1.35 million ($25 PSF). The property was almost 50% vacant when it sold located on Broadway near Pantano in eastern Tucson submarket.

Built in 1985, the property consists of six buildings two- and three-stories with an elevator and offices with open air patios overlooking a courtyard, French doors along perimeter, attractive landscaping set in quiet surroundings

The seller, The Arizona State Retirement System was represented by Dave Volk and Bruce Suppes with CBRE in Tucson.

The buyer was represented by Rob Fischrup and Jon O’Shea with Vast Real Estate Solutions.

For more information, Finkelstein, O’Shea and Fischrup can be reached 520.624.9400. Volk and Suppes should be contacted at 520.323.5100.

To learn more, see RED Comp #4220 and #4298.