Crandell Glass & Aluminum Buys Tennessee Street Property, Tucson for New HQ
TUCSON, ARIZONA — Crandell Holdings, LLC (Aaron Crandell, manager) purchased 4349 E. Tennessee Street from Tucson Industrial Centers Inc. for $620,000 ($74 PSF).
The 8,400-square-foot industrial building was built in 1982 on 2.68 acres and has a large fenced storage yard. United Rental, a previous tenant, did a new buildout in 2009 to bathrooms, offices and meeting space. It was purchased to be owner occupied by Crandell Glass and Aluminum (CGA), a local company that specializes in commercial and residential glass and aluminum projects.
Aaron Crandell started Crandell Glass & Aluminum on May 18, 2010. A family owned and operated full-service glass & aluminum contractor. Using its 75 years of combined experience, CGA strives to bring personalized service and unparalleled results to every job regardless of size. From energy efficient sliding doors and windows, to automatic entrances and mirror and shower enclosures, Crandell Glass and Aluminum does it all with skillful design and expert craftsmanship.
Gary Emerson of GRE Partners, LLC in Tucson represented the buyer and Dave Gallaher of Tucson Industrial Realty represented the seller, Tucson Industrial Centers, Inc.
For more information Emerson can be reached at 520.777.4949 and Gallaher is at 520.294.1610.
South Dodge Business Center in Tucson Fetches $6.5 Million
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.
Several Tucson Industrial Investment Properties Sell for $10.9 Million
TUCSON, Arizona — CBRE facilitated the sale of Sierra Valencia at the northeast corner of Valencia and Hemisphere Loop in Tucson International Business Center to California investors for $6.314 million ($76 PSF). The 82,737-square-feet industrial flex building was fully occupied technically with two spaces with 9,000-square-feet soon to become available.
Built in 1990 on 5.5 acres near Tucson International Airport, the concrete tilt-up building features 16’ ceilings, 199 parking spaces with 44 covered, and fully sprinklered space for ten office / industrial tenants.
This versatile flex building covers a broad range of uses and can combine one or more uses in a single facility, including office space, research and development, showroom retail sales, light manufacturing research and development (R&D) and even small warehouse and distribution uses.
Tenant mix includes: Advanced Facility Design Architecture and Engineering, MC Technologies, Inner Step Printed Circuit Boards, 4D Technology Corporation, Protection One Security and Stratasys Direct Manufacturing.
The seller, Tucson Property Investors, LLC (Pat Lopez III, manager) was represented by the CBRE Team of Bob Delaney, Tim Healy, Michael Sandahl and Martin Encinas in Tucson.
The buyer, Sierra Valencia Properties LLC and the Tarazi Family Trust, of Tarzana, California purchased for it for investment. Delaney and Healy with CBRE are also handling the leasing of the property for the new owner.
For more information, Delaney, Healy, Sandahl and Encinas can be reached at 520.323.5100.
15100 Family Limited Partnership purchased Ajo/Evans Business Park, a 35,425-square-foot, multi-tenant industrial property located on 3.07 acres at 1100 & 1200 E. Ajo Way, and 3819 & 3855 S. Evans Blvd. in Tucson. The property was purchased for investment at $2.2 million ($62 PSF) from Ajo/Evans Business Park, LLC.
Pat Welchert, SIOR, and Jeff Zellet with Cushman & Wakefield | PICOR, represented the seller in this transaction. Welchert is now with Alpha Commercial Real Estate Service in Tucson. James Leonard with My Home Group, LLC in Tempe represented the buyer.
For more information, Zellet should be reached at 520.546.2739, Welchert is at 520.360.9394, and Leonard can be contacted at 480.685.2760.
TC Building, LLC purchased a 32,410-square-foot industrial building located at 840 – 850 E. 18th St. in Tucson, from KAR4 Properties Limited Partnership, Jay D. Farbstein Trustee of the 1995 Farbstein Arizona Trust for Jay Farbstein, and Ellen Farbstein, Trustees of the 1995 Farbstein Arizona Trust for investment at $1,617,720 ($50 PSF).
Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial specialists with Cushman & Wakefield | PICOR, represented the buyer in this transaction. Bob DeLaney and Tim Healy with CBRE, Inc. represented the seller.
For additional information, Cohen and Hall can be called at 50.748.7100 and DeLaney and Healy are at 520.323.5100.
Long Far Investments, LLC (Tom Kittle, manager) purchased a 5,940-square-foot industrial building located at 19 W. Ventura St. in Tucson for $289,500 ($49 PSF). The buyer is completely remodeling the property and has it on the market available for lease.
Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR represented the seller, 19 West LLC, in this transaction.
For more information, Hooker can be reached at 520.546.2704.