Cushman & Wakefield | PICOR recently facilitated two noteworthy industrial property transactions in the northwest region of Tucson.
Transaction 1: 2425 W. Curtis Rd | $2,200,000 | Paul Hooker
In this deal, Western American Investments, LLC purchased 10,963 square feet (sf) of industrial space at 2425 W. Curtis Rd from Kassaboo LLC for $2,200,000, or $200.67 psf. Concurrent with the close of escrow for the sale, the property was leased to Core & Main, a prominent national distributor specializing in water, wastewater, storm drainage, and fire protection products. Core & Main will be relocating their local facility to this property. Paul Hooker, SIOR, Principal, Industrial Specialist with Cushman & Wakefield | PICOR, represented the buyer and the landlord in these transactions.
The property at 2425 W. Curtis Road, originally built in 1975, is situated in the northwest region of Tucson, specifically within the Oro Valley submarket and located within one mile of Interstate 10. It encompasses a 3,780 sf industrial building featuring four bays and six grade-level doors. It is accompanied by a 1,125 sf office space, a 1,500 sf service canopy area, and an additional 1,100 sf mezzanine storage area with an external forklift access. The property also includes a welding shop, three storage containers, and a suite complete with a full kitchen and bath. Moreover, it includes a large, fully paved, secured yard spanning 3.6 acres.
Transaction 2: 1901 W. Copper St | $1,532,210 | Robert Glaser
Copper Avenue Partners, LLC purchased 7.82 acres of land at 1901 W. Copper St from Arizona Lotus Corp for a total of $1,532,210, amounting to $4.50 psf. Robert C. Glaser, SIOR, CCIM, Principal, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller.
This parcel of land is conveniently situated within the highly desirable northwest Tucson submarket, specifically within the Grant Road Industrial Center. The property had recently been rezoned to Light Industrial (City of Tucson I-1) and was previously owned by Arizona Lotus Corp, a radio broadcasting station in Tucson. The new owner, Cactus Portable/PODS, is planning an approximate 100,000 sf warehouse facility which should be constructed within the next two years.