TUCSON, AZ (December 12, 2024) -- The Tucson Industrial Development Authority (IDA) bought the 600 S. Meyer Ave. office building in Barrio Viejo for $2.5 million ($219 PSF). This will be the new home to the Tucson Industrial Development Authority’s Avanza Program, which supplies loans to small business owners underserved in the banking industry.
The seller, Haley & Aldrich of Burlington, MA, renovated the building as a solar-powered office after buying it for $900,000 in 2007. The 11,429-square-foot building was initially constructed in 1933.
Gordon Wagner, Justin Lanne, and Mike Chapman of NAI Horizon handled the sale on behalf of both buyer and seller.
"We are thrilled that the Tucson Industrial Development Authority has successfully acquired the property," stated Wagner. "Not only were they a pleasure to work with, but their plans align seamlessly with the historic character of both the neighborhood and the building. Additionally, the solar power represents a sustainable approach that looks forward to the future."
The seller occupied the building and will continue to temporarily lease back 1,900 square feet of space on the second floor from the buyer.
For more information on this transaction, Wagner can be reached at 520.326.2200, Lanne is at 520.907.3470 and Chapman is at 520.907.3470.
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