TUCSON, ARIZONA – The Arena Building in Tucson at 6969 E Sunrise Drive sold for $2.6 million ($278. PSF). Built in 1997, the 9,340-square-foot, two-story, office building is located on .75 acre in Ventana Canyon Office Park at the northeast corner of Sunrise Dr. and Kolb Rd.
The asset closed on May 17, 2022.
The seller, a local developer, Arena Real Estate Development, LP (Nan Arena, general partner) constructed the building and occupied a portion of it until retiring. There were four tenants in seven office spaces at time of sale with two suites vacant.
The buyer, Drachman Holdings, LLC, an affiliate of Drachman M&A Co. (Max Drachman), of Tucson plans to occupy approximately 3,500 square feet.
Other tenants in the building include Spectrum Real Estate Services, Arizona Hearing Specialists, Farmers Insurance – Don Cox and Hopman Financial Planning Group.
Buzz Isaacson with Buzz Isaacson Realty represented the seller and Roy Drachman of Roy Drachman Realty Company represented the buyer.
For more information, Isaacson can be reached at 520.529.1300 and Drachman should be contacted at 520.748.8400.
To learn more, see RED Comp #9883.