March office sales totaled $8.9 million, and represented 43% of the office sales for first quarter 2017. The following is a few of those sales:
Siempre Juntos, LLC of Tucson purchased a 10,628-square-foot office building located at 3100 N. Campbell Ave. in Tucson, from Gibeault Office Company, LLC for $1,530,000 ($144 PSF). Property sold with 2,212-square-feet vacant and a long-term tenant, Leoni Wiring in approximately 8,200-square-feet.
Rick Kleiner, MBA, and Tom Nieman, Office Specialists with Cushman & Wakefield | PICOR handled the transaction. Rick Kleiner represented the seller, and Tom Nieman represented the buyer.
To learn more, see RED Comp #4693.
415 S. 6th Avenue, LLC of Tucson (Ron Schwabe, manager) purchased a 15,736-square-foot building situated on 1.0 acre at 415 S. 6th Avenue in Tucson for $1.5 million ($95 PSF). The seller was Saint Augustine Cathedral Roman Catholic Parish.
Pat Welchert, SIOR, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction. Ron Schwabe with Peach Properties HM, Inc. was self-represented in the transaction.
To learn more, see RED Comp #4685.
Vasquez Construction Company, Inc. of Tucson purchased a 5,440-square-foot medical office building located at 1575 N. Swan Rd. in Tucson, from The Sumwalt Living Trust for $800,000 ($147 PSF) for investment. The property was fully leased at time of sale to three tenants.
Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction and Chris Tsighis with Coldwell Banker represented the buyer.
To learn more, see RED Comp #4722.
Pinnacle Realty Investors, LLC of Tucson (Jarrett Reidhead, manager) bought the office building at 2430 E 6th Street in an REO sale from U.S. Bank for $495,000 ($77 PSF). The property was sold 75% occupied by LifeShare. Buyer plans to occupy the remainder of the 6,400-suqare-foot building.
Joe Kimaz of Madison Commercial Properties represented the bank and Tim Bott of Bott-N-Sold Realty was representing the buyer.
To learn more, see RED Comp #4667.
Nardelli Building, LLC of Tucson (Vic Williams, manager) bought the property at 1636 N Swan Road for $475,000 ($51 PSF) from American Cancer Society. The office building is connected the buyer’s adjoining property to the north. Both properties share a common courtyard, elevator and other amenities. Property was formerly occupied by the American Cancer Society and was 100% vacant at time of sale.
Ian Stuart and Wyatt Campbell with CBRE represented the seller in the transaction. Tom Nieman with Cushman & Wakefield is leasing the space for buyer.
To learn more, see RED Comp #4635.
38 Patents, LLC of Tucson (Mike Rollins, member) purchased the Medical Condominium at 1601 N Tucson Blvd. #38 at Tucson Medical Square for $117,500 ($100 PSF). The condo has two offices, kitchen, restroom and storage. Buyer purchased to owner occupy.
Tari Auletta with KW Commercial represented the seller, The Chen Family Living Trust. Kristy Kelley with Long Realty represented the buyer.
To learn more, see RED Comp #4690.