TUCSON, Arizona – Twelve office condominiums in four buildings at Plaza Campana sold in an REO auction sale for $2,336,250 ($83 PSF). The 12 condos totaling 28,068-square-feet were built in 2002 and sold in bulk at auction through Ten-X.com for US Bank, NA., the lender.
The buyer, a local investment group is also an occupant in the complex, dba Wellbeing Center, and purchased the units for investment. Buyer plans to retain the current leases and market the individually-parceled vacant units for sale.
John Yarborough and David Carroll with Romano Real Estate represented the buyer in the transaction and have been retained to market the office condo units for sale. In the past, these condos had been available for lease, but the new ownership group is now offering the vacant condos for sale on an individual basis.
The condos range in size from 1,537- to 7,000-square-feet in various condition, some in gray shell and some finished, upstairs and on ground floor, fronting Oracle or not. There is even a 4,204-square-foot freestanding building located at the southwest corner of the project at 6861 N Oracle.
At this point, there are no plans to lease any of the vacant spaces; they are only being offered for sale in this Class A complex with year to date submarket occupancy levels above 90%. Plaza Campana, near the upscale Catalina Foothills in Northwest Tucson / Oro Valley submarket, has excellent visibility and accessibility from Oracle Road with over 90,000 vehicles per day.
For more information, Yarborough and Carroll should be reached at 520.577.1000.