TUCSON, ARIZONA – Alain Hartmann of Hartmann Commercial Real Estate handled the sale of the iconic Sun building at 2030 E Speedway Blvd. in Tucson for $1.92 million ($163 PSF) before year end. The Heim family having owned the property for the past 40 years, sold the building in a 1031 exchange for the northern California family partnership with three decades of commercial property holdings including the well-known Seal Rock Inn.
Built in 1960, the office building was designed by famed architect Anne Rysdale, the only registered woman architect in Arizona during the 1950s, Rysdale’s work embraced popular stylistic trends of the era and include: the Tucson Inn on Drachman, the Old Spanish Trail Motel on Benson Highway, the Shelter Cocktail Lounge on Grant Road and the now demolished downtown Myerson’s Department Store on Congress Street.
The Sun Building features some unique rock and stone facades, ornate metal railings with a lush inner atrium filled with mature trees and shrubs, and a waterfall fed Koi pond in the courtyard. The Sun Building has long been known as an example of one of Tucson's premier mid-century modern office buildings.
The 13,386-square-foot building has a net leasable area of 11,804-square-feet located at the prime University of Arizona central crossroads of Speedway and Campbell Ave in the highly coveted Sam Hughes neighborhood.
“The Sun Building has enjoyed long-term quality tenancy for the past forty plus years and is currently 100% occupied,” said Hartmann. “Its proximity to the University of Arizona has in part been the reason why financial advisors and wealth managers like Bill Wescott and Przewlocki Horvath have been tenants in the building for more than 25 years. Its proximity to downtown has also been a factor, providing a home to Cypress Engineering.”
Fundamental building components and systems have been fully updated and most of the office spaces have been renovated with fresh finishes and custom designed floorplans.
Property management and leasing will continue to be handled by Hartmann Commercial Real Estate. For more information, Hartmann can be reached at 520.332.6000.
To learn more, see RED Comp #8351.