• $12,900,000

    Asking Price

  • 8.00%

    Cap Rate

  • 100%

    Occupancy

  • 5.07 Years

    WALT

  • Industrial

    Property Type

  • 71,059

    Square Feet

$12,900,000

Asking Price

8.00%

Cap Rate

100%

Occupancy

5.07 Years

WALT

Industrial

Property Type

71,059

Square Feet

Description

The property will be auctioned on December 7th-9th on the RealINSIGHT Marketplace. Use the following link to see the auction page:
rimarketplace.com/auction/767/100-occupied-industrial-tuscan-az

Newmark Knight Frank (NKF) is pleased to present the opportunity to acquire 7775 N Casa Grande Hwy (the “Property”), a 71,059-square-foot industrial building located in the Optics Valley region of Tucson, Arizona. The building is currently 100% leased to two tenants: Leonardo US Electronics (88%) and Palese Proto Tech, Inc (12%).

Leonardo US Electronics (formerly known as Lasertel) has occupied the Property since 2008 and recently renewed its commitment to the site by extending its lease through July 14, 2026. Over the last two years alone, Leonardo has invested more than $15 million improving their space with highly specialized equipment, including over 14,000 square feet of clean room space. Since 2008, they have invested upwards of $50 million on their buildout, and they are currently expanding the parking area of the building at their own cost. Leonardo’s Lasertel business unit, which operates at the site, is the largest laser diode supplier to military laser systems. The company is a subsidiary of Leonardo SpA, which is the ninth largest defense contractor worldwide.

Palese Proto Tech, Inc. is an established full-service product development and precision engineering machine shop that has been in business for more than 25 years and considers the Property its headquarters since taking occupancy in 2012.

7775 N Casa Grande Hwy is situated in the popular Northwest submarket of Tucson’s Optics Valley, which boasts a five-year average industrial vacancy of just 3.0%. As the market continues to tighten, demand for high-quality space will continue to grow, putting upward pressure on rents.

The current owners have meticulously maintained the Property and have invested over $700,000 in capital improvements over the last three years, including a new 20-year roof that was installed in 2017.

The Property offers investors a secure cash flow stream from a well-positioned, credit-worthy tenant with a deep history at the Property that has heavily invested in their space and considers it a mission critical facility for their business.

The property will be auctioned on December 7th-9th on the RealINSIGHT Marketplace. Use the following link to see the auction page:
rimarketplace.com/auction/767/100-occupied-industrial-tuscan-az

Newmark Knight Frank (NKF) is pleased to present the opportunity to acquire 7775 N Casa Grande Hwy (the “Property”), a 71,059-square-foot industrial building located in the Optics Valley region of Tucson, Arizona. The building is currently 100% leased to two tenants: Leonardo US Electronics (88%) and Palese Proto Tech, Inc (12%).

Leonardo US Electronics (formerly known as Lasertel) has occupied the Property since 2008 and recently renewed its commitment to the site by extending its lease through July 14, 2026. Over the last two years alone, Leonardo has invested more than $15 million improving their space with highly specialized equipment, including over 14,000 square feet of clean room space. Since 2008, they have invested upwards of $50 million on their buildout, and they are currently expanding the parking area of the building at their own cost. Leonardo’s Lasertel business unit, which operates at the site, is the largest laser diode supplier to military laser systems. The company is a subsidiary of Leonardo SpA, which is the ninth largest defense contractor worldwide.

Palese Proto Tech, Inc. is an established full-service product development and precision engineering machine shop that has been in business for more than 25 years and considers the Property its headquarters since taking occupancy in 2012.

7775 N Casa Grande Hwy is situated in the popular Northwest submarket of Tucson’s Optics Valley, which boasts a five-year average industrial vacancy of just 3.0%. As the market continues to tighten, demand for high-quality space will continue to grow, putting upward pressure on rents.

The current owners have meticulously maintained the Property and have invested over $700,000 in capital improvements over the last three years, including a new 20-year roof that was installed in 2017.

The Property offers investors a secure cash flow stream from a well-positioned, credit-worthy tenant with a deep history at the Property that has heavily invested in their space and considers it a mission critical facility for their business.

Read More...

Pricing

  • Asking Price$12,900,000
  • Price PSF$182
  • WALT5.07 Years
  • Cap Rate8.00%
  • NOI$1,030,262

Details

  • Property TypeIndustrial
  • Property StatusOn Market
  • Square Feet71,059
  • Year Built1997
  • Year Renovated2018
  • Building ClassB
  • Building(s)1
  • Stories1
  • Parking Ratio2.52/1,000 SF
  • Acres6.09
  • ZoningLight Industrial
  • APN226-35-002G
  • TenancyMulti
  • Tenant(s)2
  • Occupancy100%
Read More...

Offering Summary

Pricing

  • Asking Price$12,900,000
  • Price PSF$182
  • WALT5.07 Years
  • Cap Rate8.00%
  • NOI$1,030,262

Details

  • Property TypeIndustrial
  • Property StatusOn Market
  • Square Feet71,059
  • Year Built1997
  • Year Renovated2018
  • Building ClassB
  • Building(s)1
  • Stories1
  • Parking Ratio2.52/1,000 SF
  • Acres6.09
  • ZoningLight Industrial
  • APN226-35-002G
  • TenancyMulti
  • Tenant(s)2
  • Occupancy100%

Deal Team

Sean Fulp

Executive Managing Director

CA RE Lic. #01389064

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Ryan Plummer

Managing Director

CA RE Lic. #01765854

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Mark Schuessler

Director

CA RE Lic. #02033871

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Ryan Tetrault

Associate

CA RE Lic. #01996711

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