X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TUCSON-A local investor with 1031 proceeds to spend has invested $3.1 million in a 21,473-sf, class B office building. The acquisition is the first office investment by Jenstarr LLC, which previously concentrated on multifamily assets.

Located at 17 W. Wetmore Rd. across from the Tucson Mall, the building received three solid offers during three weeks of marketing, says Josh Hirons, an investment broker with Marcus & Millichap Real Estate Investment Brokerage Co. He partnered with Thomas Montgomery and Dale Webber to represent the seller, BDL Tucson LLC of Phoenix, which holds a master lease for the first and third floors for the offices of its Diversified Human Resources company.

The 21-year-old, two-story building is fully occupied, with the seller in nearly half of the office space. Mike McClain of Marcus & Millichap represented the buyer.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.