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April 15, 2024
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AZ Logistics Facility Goes for $451/sf


An unnamed California family trust acquired a 49.5k sf, logistics facility in Tucson in a recent $22.3 mil ($451/sf) transaction. The last-mile distribution property, located at 775 W. Silverlake Rd, is fully leased to a Fortune 10 global e-commerce company.

Situated on approximately 10.75 acres, the distribution facility features 15 loading docks and is strategically located near I-10 and I-19, and close to downtown Tucson. The Tucson International Airport is also within close proximity.

Andrew Bogardus, Douglas Longyear and Stephen Cohen with Cushman & Wakefield represented the seller, an East Coast investor, in the transaction.

“Tucson maintains a tight industrial market vacancy of just 2.5% and reported another 600k sf of occupancy growth during the fourth quarter of 2022, according to Cushman & Wakefield’s latest Q4-2022 market report. Demand has been driven by segments such as logistics, distribution, and manufacturing,” noted Cohen.

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