Renovated Investment Property Sells for $1.2 Mil, While a Warehouse Distribution Center Supports Nearshoring Manufacturing

The multi-family and industrial team produced the top sale and lease transactions last week at C&W | PICOR. Allan Mendelsberg, Principal, and Conrad Joey Martinez recently sold an apartment property near the University of Arizona. Across the border, Jose Dabdoub, Industrial Specialist, represented the tenant during the lease of a warehouse distribution center in Mexico.

Delo University Bungalow LLC purchased University Bungalows, a 2,410-square-foot investment property at 1647 N. Santa Rita Ave., in Tucson. The 7-unit apartment property was purchased from AZ 1647 Santa Rita, LP for $1,200,000.00 ($178,571.00 per unit). Allan Mendelsberg, Principal, and Conrad Joey Martinez, Multifamily Specialists with Cushman & Wakefield | PICOR, represented both parties in this transaction.

University Bungalows’ seven fully renovated units sit in the heart of the University Submarket. Comprised of 3 studio units & 4 1BD/1BA units. Each unit has gone through extensive renovations including ACs, flooring, cabinets, appliances, countertops, bathrooms, windows, doors, and shower surrounds. On the outside of the building, the upgrades include paint, facias, roofs, and landscaping.

All units at the property are furnished with quality and modern furniture which attracts the best tenants in the market. With the property’s attractive location near Banner Hospital and the University of Arizona, the tenant base is plentiful between students and young professionals/hospital employees.

Picture1MTD Consumer Products Mexico, S de RL de CV, a Subsidiary of Stanley Black and Decker, leased 129,600 square feet of industrial space at SECOMEX- Carretera La Colorada, KM 6, S/N, Parque Industrial Sonora in Hermosillo, Mexico, from Solucion E Importacion Sonoyta S.A de C.V. Jose Dabdoub, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction. 

MTD Consumer Products of Mexico, S de RL de CV, specializes in the agricultural implementation manufacturing industry. Their products can be found in home improvement, hardware, farm, and large retail stores. This warehouse and distribution center will assist in supporting their nearshoring manufacturing that’s returning from Asia. Companies across the U.S, similar to MTD Consumer Products of Mexico, have had to adapt to global supply chain disruptions and expand their warehouse space generating opportunities for industrial and logistic property owners.


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