TUCSON, ARIZONA – Local investment group, Equilibrium Villas LLC, (Sofonias Astatke, managing partner) has purchased the 10,800-square-foot office building at 4067 East Grant Road in Tucson for a sale price of $995,000 ($92 PSF). This was the buyer’s upleg in a 1031 exchange.
The seller, Walnut Grant, LLC is Phoenix-based (Bryan Bailey, manager).
Equilibrium Realty represented the buyer and Doug Marsh and Lori Casey of Oxford Realty Advisors represented the seller in the transaction. Nick Tomko with Equilibrium Realty, LLC, represented the investor.
Equilibrium Villas has been actively investing in Tucson this month. In February, the group purchased the 4,589-square-foot, stand-alone retail building, formerly known as The O Oracle Comedy Lounge, on a 0.74-acre land parcel from Looks Properties, LLC.
The property located at 2000 N. Oracle Rd. in Tucson was purchased for $495,000 ($108 PSF) to be redeveloped and leased for a new concept opening around June.
Ron Zimmerman and Dave Hammack, Principals with Cushman & Wakefield | PICOR, represented the seller in this transaction. Vanessa Lane with Equilibrium Realty, LLC, represented the buyer.
For more information on these transactions, Marsh and Casey should be reached at 520.323.0200, Tomko and Lane are at 520.250.8977 and Zimmerman and Hammack can be contacted at 520.748.7100.
To learn more, see RED Comps #8529 and #8560.