TUCSON, ARIZONA, April 7, 2023 -- The first quarter of 2023 started with better-than-expected office sales in Tucson. While the leases continued to be small and for shorter terms on average, the sales volume stayed on par with 2022, while other markets, except industrial, slightly declined year-over-year.
The largest nonmedical office sale in Q1 was 130 S Scott Avenue which sold for $2,975,000 ($241 PSF) and closed on March 31st. The historic 12,366-square-foot building was built in 1964. A two-story building, with a courtyard, 34 offices, and two conference rooms that were all renovated in 2004.
The buyer was the adjacent Children’s Museum Tucson assisted by the Rio Nuevo District as reported recently and David Volk with VOLK Company represented the seller NSW Development Services of Tucson (Don Semro, Director).
The Children’s Museum Tucson is at 200 S. Sixth Ave. in Downtown Tucson, located in the historic Carnegie Library, with 17,000 square feet of space and 10 indoor exhibits, and a beautiful outdoor courtyard with lots of space for kids to play and imagine.
Children’s Museum also has an Oro Valley presence at Tohono Chul Preserve with indoor and outdoor exhibits. Daily activities and programming for kids and families there mesh with the natural focus of Tohono Chul gardens, with a focus on the culture, animals, and plants of our Sonoran Desert region.
The museum's expansion plans for 130 S Scott include a new café in partnership with El Charro and a new gift shop. The focus on retail, food, and beverage was welcomed by the Rio Nuevo Board, resulting in unanimous approval to invest just under $500,000. These funds helped the museum acquire the adjacent building for a café, classrooms, and museum administrative offices.
“We appreciate the opportunity to be here in the biggest moment in the museum’s history. We are about to launch an expansion that has been a long time coming. We’ve been considering how to grow and expand in our current location for years, and this is the moment in which we’ve finally found a way to be able to without leaving downtown,” said Hilary Van Alsburg, Executive Director at the Children’s Museum.
SOME UPCOMING EVENTS at the CHILDREN’S MUSEUM:
- Art After Dark
Saturday, Apr 8, 2023, 5:30pm - 7:30pm - Earth Day
Saturday, Apr 22, 2023, 9am - 1pm - 17th Annual TMC Meet Me Downtown 5k Night Run/Walk and Festival of Miles
Saturday, May 27, 2023, 5pm - 9:30pm
For more information, Volk can be reached at 520.326.3200.