Updated Dec 4, 2024
Bridge Investment Group Acquires Tucson Industrial Asset For $118.6M
3610 East Valencia Road
$118,600,000
$147/SF
Building Size
806,606 SF
Asset Type
Industrial
Closing
May 14, 2024
About this deal
AI
The Tucson Commerce Center, located at 3610 East Valencia Road in Tucson, AZ, spans across 47.5 acres. The industrial property consists of two multi-tenant buildings totaling 504,163 square feet, alongside a fully leased 302,443-square-foot building. The sale price for this transaction was $118,600,000, with a price per square foot of $147.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $118,600,000
- Buyer: Bridge Investment Group
- Buyer's Representative: Tim Healy & Joseph Orscheln - CBRE
- Seller's Representative: Dean Wiley, Kirk Kuller, Michael Matchett, Molly Hunt & Will Strong - Cushman & Wakefield
Bridge Investment Group, represented by Tim Healy & Joseph Orscheln of CBRE, acquired the Tucson Commerce Center for $118.6 million. Additionally, an undisclosed buyer purchased a fully leased 302,443-square-foot building within the center for $39.6 million.
Players
Tucson Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93