Top Commercial Deals this Week: From Apartments to Warehouses

TUCSON, ARIZONA, March 3, 2023 — The top commercial deals this past week at Cushman & Wakefield | PICOR was the sale of The Beverly on Fifth, a residential property in Central Tucson, and an industrial lease.  The Multifamily Team of Allan Mendelsberg, and Joey Martinez represented both parties in the sale transaction of The Beverly on Fifth. The top lease was of industrial space within Southwest Tucson, with Robert C. Glaser, Industrial Specialist, representing the landlord in the transaction.

Cushman & Wakefield | PICOR had a successful week with notable sale and lease transactions in the Tucson area. The Beverly on Fifth, a residential property located in Central Tucson, sold for $6.7M, $191,629 per unit, and $202 per square foot. Beverly On Fifth Owner, LLC purchased this 35-unit property from Dry Desert, LLC. Built in 1970 with recent renovations, the property has 35-units consisting of a mix of 1-3 bedrooms. The units come equipped with individual washers and dryers, dishwashers, stainless steel appliances, A/C, and private balconies with patios. The multifamily team, Allan Mendelsberg, Principal, and Joey Martinez, Principal, represented both parties in this transaction. 

The Beverly on Fifth is located in Central Tucson, making it an ideal location for tenants seeking employment, entertainment, and shopping options. The property is only a few miles away from Carondelet St. Joseph’s hospital, El Dorado Medical Center, and Park Place Mall retail trade area. Additionally, several K-12 schools are located within one mile of the property. With its prime location and range of amenities, the property is highly attractive to a large demographic of tenants such as families, retail staff, and medical professionals. 

In addition to the sale of The Beverly on Fifth, Cushman & Wakefield | PICOR’s Robert C. Glaser, SIOR, CCIM, Principal, Industrial Specialist, represented the landlord in this top commercial lease deal. Cactus Portable Storage, LLC renewed their lease with Stag Industrial Holdings, LLC for 64,303 square feet of industrial space at 6161 South Palo Verde Road, Suites B & C in Tucson. This warehouse/distribution facility is located in the Airport Submarket within close proximity to I-10, I-19, and Tucson International Airport. This attractive concrete tilt building is ideally suited for distribution purposes. 

To learn more about the sale transaction, see RED Comp #10491.

 

 

 



The Amazon Project – This Week at Pima County Real Estate Research Council

TUCSON, ARIZONA – Pima County Real Estate Research Council 3rd Quarter Meeting will be held August 16th and discussing The Amazon Project, how Amazon picked Tucson for one of its latest fulfillment centers.

Speakers will include Mike Levin, Executive Vice President of the Port of Tucson located in Century Park Research Center, Southeast of Tucson, Arizona where Amazon chose to build. Within the 767 acres of  Century Park is over 1.8 million square feet of existing warehousing, distribution and manufacturing facilities available. Build to suit with lease and purchase options are also available within Century Park.  Designated by the City of Tucson and Pima County as ‘Shovel Ready’ for custom built facilities such as Amazon. Century Park is also a designated and Active Foreign Trade Zone (FTZ 174, Site 2).  For companies that ship or receive goods internationally, there are tax and tariff benefits that can make your company more competitive in the global market another attraction for Amazon.

Daniela Gallagher,  Vice President, Economic Development at Sun Corridor. Daniela is responsible for the management of a wide range of economic development efforts, including location advisory to national and international companies looking to establish or expand their presence in Southern Arizona, such as Amazon. Before joining Sun Corridor Inc. in 2011, Daniela spent the majority of her career as a Certified Air Transport Manager and Logistics expert overseas. In this role, she coordinated day-to-day operations for international air carriers, including passenger and aircraft operations, by providing aeronautical science and air transportation principle expertise, a synergistic role with the Port of Tucson.

Carla Blackwell, Director of Pima County Development Services.The mission of Development Services is to contribute to our customers’ success in building and maintaining safe and sustainable communities by providing helpful, timely and quality services.

Broker Roundtable to include:
Dave Volk (CBRE) – Office
John Carroll (Land Advisors) – Land
Max Fisher (PICOR) – Industrial
Kevin Volk (Volk Company) – Retail

Pima County Real Estate Research Council 3rd Quarter Meeting will be held August 16th, 2018 at Tucson Association of REALTORS® office, 2445 N. Tucson Blvd., Tucson, AZ.  7:30am – Registration (Free continental breakfast!) and 8:00am – 10:00am – Program

Free to all PCRERC members. Non-members are welcome to attend ONE meeting for $50.00. Membership is required to attend ANY additional meetings. If a PCRERC member is unable to attend the meeting, a member of his/her organization may be substituted; just let us know info@pcrerc.com.

CLICK HERE TO REGISTER for the Amazon Project on Thursday, August 16th.

The  mission of Pima County Real Estate Research Council (PCRERC) is to be an effective provider of information, education, insight and data resources to the Southern Arizona residential and commercial real estate community within a setting that promotes social networking to its membership. PCRERC is a private, not-for-profit entity, featuring a diverse membership of Real Estate Professionals & Business Leaders.

 

 



Max Fisher Joins Cushman & Wakefield Picor Brokerage Team

Max Fischer, new associate at C&W | Picor

TUCSON, Arizona — Cushman & Wakefield | PICOR is pleased to welcome Max Fisher to its Tucson commercial real estate brokerage team.  Max specializes in the leasing and sale of industrial and business park properties, including flex/research and development, warehouse and distribution, and manufacturing space.

As a native Tucsonan, Max inherently understands what makes the community thrive.  He has been active in the Tucson real estate market since 2012, and his strong community ties and industrial focus make him a standout in the commercial/industrial arena. Max’s real estate career has earned him high praise from his clients. He is known for his strong focus on relationships, tenacious work ethic, and his communication and negotiation skills.

  • Certified Commercial Investment Member (CCIM) – Candidate
  • Juvenile Diabetes Research Foundation (JDRF) – Advocate and public speaker
  • Young Professionals Network Tucson – 2015-2016 Chair

Cushman & Wakefield | PICOR is Tucson’s leading independently owned, full-service commercial real estate company.  C&W | PICOR offers leasing, sales and property management for office, medical, industrial, retail, land and investment properties. C&W | PICOR’s service area encompasses Southern Arizona and Sonora, Mexico. Learn more and access quarterly market reports at www.PICOR.com.

To reach Max Fisher through the Picor office call 520.748.7100.