TUCSON, Arizona -- Cushman & Wakefield | PICOR Industrial Specialist, Brandon Rodgers, general partner in two buying entities recently purchased two industrial investment properties.
Friebus Investors, LLC purchased a 45,750-square foot industrial building located at 2301/2341 S. Friebus Ave. in Tucson, from Oak Properties for $1.75 million ($38.25 PSF).
Built in 1984, the property was 89% occupied at time of sale and not on the market when it sold.
Tenants include: Heating & Cooling Supply, Caring Transitions of Southern Arizona, Masterlink Communications, Paragon Instruments, and Eiger Sportsware.
In a second transaction, Forbes Investors, LLC purchased two industrial buildings located at 2002-2010 N. Forbes Blvd. in Tucson. Comprised of 41,252-square-feet (built 1974), the property is located in the Broadbent Industrial Center and sold from Tucson North Forbes Ventures LLC, Red Bird Investments LLC and Scheer Investments LLC for $2.5 ($59.85 PSF).
Ron Zimmerman Industrial Specialist at Cushman & Wakefield | PICOR represented the sellers and Brandon Rodgers represented the buyer.
The property is a stabilized investment that sold 97% occupied with 4,000 SF was available at time of sale.
Tenants include national and local businesses: Optisource, Amerita Labs, Comfort Systems, Classy Closeys, Burns Pest Control and Lecroy Milligan.
Rodgers is handling the leasing of both properties.
For more information, Rodgers should be reached at 520.546.2714 and Zimmerman can be contacted at 520.546.2755.
To learn more, login and see RED Comp #4481 and RED Comp #4522.
[mepr-show rules="58038"] 2002-2010 N Forbes Blvd sold on 1/17/2017 for a precise sale price of $2,469,000 at an 8.8% stabilized cap rate.
2301-2341 S Friebus Ave sold on 1/30/2017 for $1,750,000 at an 8.3% cap rate.[/mepr-show]