RSD Inc purchased 2101-2103 E 19th St in the downtown industrial sub market as a distribution hub for air conditioners and air conditioning supplies.
As the demand for residential and industrial real estate increases, the demand for HVAC products, electrical products, and plumbing products has been increasing quickly. This will be RSD's second distribution building in Tucson.
The downtown industrial market hit a small bump when COVID hit due to businesses that serve the downtown retail market closing or downsizing. Since then, the downtown industrial market has bounced back. Vacancy is around 2% now and rates are steadily increasing. We can expect the downtown industrial market to continue to improve from the demand for last mile distribution and the demand from construction contractors.
Max Fisher and Rob Glaser of PICOR Commercial Real Estate represented the seller and Cushman & Wakefield of Los Angeles represented the buyer.
RBEX Inc purchased 5951 S Wilmot for $1,750,000.
The industrial market continues to grow in a strong and steady direction as distribution and residential housing continues to grow quickly.
Arizona as a whole outpaces the rest of the country by far when it comes to unemployment rates, economic growth and real estate activity. Migration patterns continue to favor Arizona as residents migrate to Arizona from densely populated cities and states. Reasons for migration include COVID, real estate prices, taxes, regulations and climate. As this mass migration continues, the demand for the residential market continues to stay very strong. This demand is fueling the industrial market as residential developers spur more demand for industrial supply houses and trade related businesses.
Migration and the upcoming wave of demand from marijuana cultivators are going to slim the industrial inventory even more over the next year. We can expect lease rates and sale rates to increase.
Max Fisher of Cushman & Wakefield | PICOR handled this transaction
3224 N Freeway Industrial Loop
-8,400 SF available
-20+ parking spots
-14' roll up doors
-I-10 visibility and signage
-Frontage road access
-Custom build out per tenant's needs
Contact Max Fisher firstname.lastname@example.org or 520-465-9989
Listed by BRD Realty
Max Fisher, Industrial Properties Broker