Presson Corp. adds 29th Street Business Plaza to Porfolio for $3.075M

29th Street Business Plaza, 4901-5069 East 29th St., Tucson, AZ

TUCSON, ARIZONA — Phoenix-based, Presson Corporation (Daryl Burton, President) purchased the 29th Street Business Plaza, a 72,190-square-foot industrial zoned flex property located at 4901-5069 East 29th Street in Tucson for $3.075 million ($42.60 PSF).

Built in 1976, the 60 warehouse / incubator style flex units were originally 1,200-square-feet each on 5.48 acres northeast of Swan on 29th Street; over the years many of the units have been combined.  The mix of tenants include Marksman Pistol Institute, Old Pueblo Trophy, Evolved Behavior Health Services, Tasc Incorporated, Integra Custom Systems, Gus Mare Plumbing & Air, Advantage Medical Products, and Repower Old Pueblo Solar Heating.

Property was 80% occupied at time of sale.

The buyer was represented by Robert C. Glaser, SIOR, CCIM, Principal and Industrial Specialist with Cushman & Wakefield | Picor of Tucson. Jon Jump, Principal with Jump Ventures, Inc., represented the seller, Dybvig Pima County of Tucson (David Dybvig, manager).

The Presson Corporation primarily operates in the Commercial and Industrial Building Operation business / industry within the Real Estate sector and has been operating for approximately 30 years.

“The 29th Street Business Plaza represented a stable opportunity for the buyer,” said Jon Jump. “The property is in a great location in the heart of central Tucson, with the high occupancy and tenant mixture, and a low price per square foot, creates exceptional appeal for the incubator market.”

Cushman & Wakefield | Picor will handle leasing of the property for the buyer.

For additional information, Glaser can be reached at 520.546.2707 and Jump should be contacted at 520.733.0007.

To learn more, see RED Comp #6851.

South Dodge Business Center in Tucson Fetches $6.5 Million

South Dodge Business Center, Tucson, AZ

Tucson, Arizona — Presson Corporation of Phoenix (Daryl Burton, manager) purchased nine buildings totaling 124,863-square-feet at 3601, 3621, 3631, 3641-3681 E. 44th St. and 3200, 3210, 3220, 3230, 3250, 3300, 3320 S. Dodge Blvd.  in Tucson for $6,491,160 ($52 PSF).

The South Dodge Business Center is located near Butterfield Industrial Park, I-10 and Tucson International Airport and was approximately 68% occupied when it sold. It is also located less than 8-miles away from the future Amazon Fulfillment Center at Century Park Research Center that pulled building permits last month for the approximately 1.2 million-square-feet of warehouse and office space being developed by Seefried Industrial Properties.

Obviously, local suppliers will benefit from the Amazon facility in terms of lower shipping costs, avoidance of tariffs and duties and improved profit margin. Additionally, Amazon stands to benefit from the many products unique to southern Arizona, which have a worldwide appeal.

Amazon currently employs more than 7,000 in Arizona; new Tucson facility will employ more than 1,500 associates. Between 2011 and 2016, Amazon’s investments in Arizona contributed more than $900 million to the state’s economy, indirectly creating 18,000 additional jobs on top of the 7,000 the company employs directly.

According to the press release, Pima County and Sun Corridor Inc. played an active role in bringing the Amazon project to Tucson.

“Southern Arizona continues to attract industry leaders like Amazon seeking the ideal location for their next phase of growth,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “Amazon’s continued expansion throughout Arizona with this new operation in Tucson speaks to the company’s confidence in our state as an excellent place to do business.”

Rob Glaser, SIOR, CCIM Industrial Specialist with Cushman & Wakefield | PICOR, represented the buyer; Jonathan Jump with Jump Ventures, represented the seller, DFI Investments, LLC (Michael Danziger, member).

Glaser has the leasing contract for the property. For more information, Glaser should be reached at 520.546.2707 and Jump is at 520.733.0007.

To learn more, see RED Comp #5812.