Contact:
Jen Olewinski/Kristin Kiena
Brower, Miller & Cole
(949) 509-6551
jolewinski@browermillercole.com
VOIT COMMERCIAL BROKERAGE CLOSES $13.3 MILLION SALE OF MIDWAY BUSINESS PARK IN TUCSON
TUCSON, Ariz. (November 1, 2007) – Presson Corporation, a Phoenix based investment group, has acquired Midway Business Park, a 181,364 square-foot mixed-use business park located at 4500 East Speedway Boulevard in Tucson, Ariz., for $13.3 million.
“Tucson is an attractive market that is home to more than 931,000 residents and major corporations like Raytheon, IBM and Texas Instruments,” said Mike Hefner, senior vice president of Voit Commercial Brokerage’s Anaheim Metro office. “Midway Business Park is centrally located in the growing metropolitan area and offers excellent potential for continued rent growth.”
Midway Business Park offers a combination of retail, office, industrial and self-storage units ranging in size from 800 square feet to 6,000 square feet. The business park has major street exposure on Speedway Boulevard and is located in the heart of Tucson just three miles from the University of Arizona and four miles from the David-Monthan Air Force Base.
Presson Corporation has plans for significant renovation of the business park, which was constructed between 1977 and 1978.
Mike Hefner of Voit Commercial Brokerage’s Anaheim Metro office and Robert Glaser of PICOR Commercial Real Estate represented both the buyer, Presson Corporation, and the seller, Tucson Midway Business Park, in the transaction.
Voit Commercial Brokerage, a member of CORFAC International, is a full-service brokerage firm that specializes in the sales and leasing of office, industrial and retail properties, in addition to investment property sales. Since the firm’s inception, it has completed sales and lease transactions valued in excess of $13 billion. A subsidiary of The Voit Companies, Voit Commercial Brokerage has offices in Irvine, Anaheim, Chula Vista, San Diego and Las Vegas.
The Voit Companies can be reached at www.voitco.com.
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