Douglas Johnson, Managing Director, CBRE Auction Services, today announced that + 5.95 acres with entitlements will be sold at online auction. The property is located on Thornydale Road, just north of Ina Road in Tucson, AZ. The online auction will be held on Tuesday, April 29th, 2014. The opening bid is $350,000.
“This is a unique investment opportunity in the Tucson, AZ metropolitan area which is just about shovel ready.” said Mr. Johnson. The site overlooks the intersection of Ina Road and Thornydale Road in unincorporated Pima County, Arizona. Thornydale is the main North/South arterial road that links traffic from the Northwest corridor to Central Tucson. The site is easily accessible to retail stores and restaurants located nearby, including two power centers and two neighborhood centers. The land is zoned TR, Transitional, by Pima County.
“The property’s elevation provides unequaled views of the Tucson Valley. Frontage along Ina Road provides excellent visibility for a variety of uses that may include office, medical, and multi-family residential.” added Patrick Connell, Managing Director, CBRE Auction Services.
The development plans yield approximately 50,702 square feet of office space comprised of five separate buildings. Approximately 1.19 acres of natural desert open space will divide the property into two distinct sections, allowing for phasing.
The online auction will open with bidding at $350,000. An initial earnest money deposit of $25,000 is required in order to participate. The online auction will be held on April 29th, 2014. Property inspections will be held on April 9th and April 16th by appointment only. CBRE representatives will be available to answer questions about the auction process, procedures, as well as the property. Detailed property information will also be available for review including the purchase and sale agreement. For this, and other information about the auction, including the terms and conditions of the auction and a brochure, prospective bidders should visit www.cbre.com/auctionservices, or call CBRE Auction Services at 800-815-1038.