Max Fisher, BRD Realty represented three lab transactions totaling 24,000 SF in September. The first, Ninyo & Moore Geotechnical and Engineering purchased an  11,443 SF concrete tilt industrial building at 3970 S Evans Tucson, Arizona for $1,725,000. Time Healy and Abi Robles of CBRE represented the seller, Znarf LLC.

Listings newly listed by Max Fisher, BRD Realty

Torch Props purchased equity in 96,000 SF of light industrial and business park property. Max Fisher, BRD Realty will handle the leasing and Eileen Lewis, Torch Props will now takeover the management.

Oracle Towers and Palmdale Industrial are the two properties that make up 96,000 SF and more than 40 tenants. Most bays have office/warehouse layouts with grade level roll up doors. Oracle Towers also has some office and retail build outs with retail frontage on North Oracle Road.

Tucson's owner occupied market, also known as "user buildings" is as strong as it's ever been. A lack of inventory combined with strong demand from business owner's wanting to own their own real estate has continued to strengthen the industrial/warehouse user market.

With construction costs for industrial above $200 per square foot and very few sub 10 acre industrial parcels available, buyers are still flocking to existing buildings rather than taking the leap and building ground up. Most user buyers are looking for fenced yards in addition to a building to store materials or fleets as they are having difficulty finding buildings with fenced yards for lease.

We are seeing most user buyers pay cash and often seeing buildings on the market for less than a few weeks and often with multiple buyers. Another factor affecting the user market is the re-development of existing buildings such as the new Casino at Grant & I-10 and the new interchange at Country club and I-10. There is more demolition than construction of industrial buildings in 2024. We expect more construction in 2025 but for multi-tenant, for lease industrial buildings with bays more than 10,000-20,000 SF.

The building above was just sold for $1,7250,000 to Ninyo and Moore Engineering. Max Fisher, BRD Realty represented the buyer and Tim Healy, CBRE represented the seller.