The top sale this past week at C&W | PICOR was of a 72-unit apartment complex located on Fort Lowell Road where Allan Mendelsberg, Principal, and Joey Martinez represented both the buyer and seller in this transaction. The top lease was of a 15,000 square foot (SF) warehouse/office space near I-10 where Robert C. Glaser, SIOR, CCIM, Principal, Industrial Specialist, represented the landlord in this transaction.
Cushman & Wakefield | PICOR recently sold the Tierra Alegre Apartments for $8,500,000, $118,055.55 per unit, and $225.56 per SF. The multifamily team, Allan Mendelsberg, Principal, and Joey Martinez represented both parties in this transaction. This 72-unit investment property was purchased by Equilibrium Cordova Village Tierra Alegre LLC.
Tierra Alegre Apartments is located at 3355 E. Fort Lowell Road and is comprised of an assortment of studio, 1-bedroom, and 2-bedroom units. This property is an investment opportunity primed for renovation and repositioning. It was built in 1982/1983 and includes luscious landscaping, a sparkling pool and hot tub, a BBQ area, and a shared laundry facility.
The top lease for the previous week was of a 15,000 SF industrial space at 1859 W Grant Road., Suite 101. This property is 20% office/showroom and 80% warehouse and is conveniently located near I-10. It was leased by GroundProbe North America LLC, a tech company that measures and monitors geohazards, from Walker Tucson Property, LLC, a California-based investor. Robert C. Glaser, SIOR, CCIM, Principal, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. Michael Coretz with Commercial Real Estate Group of Tucson LLC, represented the tenant.