Our top sale last week was of a historical office building architecturally ahead of its time where one of our office specialists, Richard M. Kleiner, MBA, Principal, represented the seller. Our top lease was an industrial space from a local catering company that not only serves exceptional food but provides catering for emergency responders during crises. Paul Hooker, SIOR, Principal, Andrew Keim, and Molly Mary Gilbert represented the landlord in this transaction.
LRTucson, LLC purchased 1100 N. Wilmot Rd., the 11,379 square foot two-story office building nicknamed the “Upside Down Pyramid” due to its iconic architecture. The seller is Vantage West Credit Union, which continues to operate a branch on the first floor. The sale price was $2,250,000 ($197.73 PSF) and above the asking price. Richard M. Kleiner, MBA, Principal, Office Specialist with Cushman & Wakefield | PICOR, represented the seller and Scott Soelter with NAI Horizon, represented the buyer.
1100 N. Wilmot Rd is one of the most distinguishable historic buildings in Tucson, AZ. This unique office building was designed by the architect, Robert Swaim in the 1970s. According to KGUN9’s article by Pat Parris, the upside-down pyramid structure came to fruition when Western Savings needed more square footage on the upper level and wished to pursue an iconic image that would be instantly recognizable around town. Due to the unique angles and the lack of 3-D modeling technology in the seventies, it was undeniably a challenge to construct this steel and glass structure.
Richard M. Kleiner, MBA, Principal, Office Specialist with Cushman & Wakefield | PICOR, represented the seller, Vantage West Credit Union. However, C&W | PICOR’s relationship with the building goes much further into its history. For nearly twenty years C&W | PICOR occupied the second floor as their main office up until 2018. Richard Kleiner said, “It was very easy to tell people where were headquartered. It’s really a fabulous building. The second-floor space for an office user is really incredible because of the cantilevered walls." LRTucson and Vantage West will now occupy this iconic Tucson structure.
R & G Food Services, Inc., dba Latitude Catering, renewed their lease with Pegasus Tucson Owner LLC for 7,383 square feet of industrial space at Butterfield Tech Center II, 4650 S. Coach Dr., Suite 100-110 in Tucson. Paul Hooker, SIOR, Principal, Andrew Keim, and Molly Mary Gilbert with Cushman & Wakefield | PICOR, represented the landlord in this transaction.
Established in 2010, Latitude Catering is a premier caterer in Tucson and one of the largest mobile response caterers in the United States. They offer meals for emergency responders when they need it most, along with fine dining catering services to corporate and social events around Arizona. Latitude Catering renewed its lease at Butterfield Tech Center II along Coach Drive, where Tucson’s top high-tech businesses, teleservices, national distributors, hotels, and restaurants reside. It is a class A business park located in the heart of Tucson and has direct access to Interstate-10, downtown, and Tucson International Airport, where the majority of the city’s workforce is located. 4650 S Coach Drive has served Latitude Catering for over six years with a functional office and warehouse space to successfully run their local catering business.
Parris, Pat. “Reflecting on History of Tucson's Glass and Steel Upside-down Pyramid.” KGUN9, 31 May 2022, https://www.kgun9.com/.