Oracle Realty buys Comcast building for $22.9 million

Real Estate | 5 Dec, 2017 |

Oracle Realty Associates, LLC of Manhattan, purchased the Comcast building located adjacent to the Tucson Mall at 4690 N. Oracle Road in Tucson. The 211,152 square-foot, single-tenant office building was purchased from The Tanager Company, LLC for $22,900,000.  Greg Furrier, Principal, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller and the buyer in this transaction. 

The original building was converted to a regional Comcast Contact Center in 2015. The conversion was a bold one and an example of an adaptive re-use of a retail property to an office environment.  Formerly known as the Tucson Galleria, 4690 N. Oracle Road was constructed in the mid-1980s as a retail mall anchored by Oracle View Theater, Bally Total Fitness, and Studebakers Night Club.  From 1992 until 2008, the building was occupied by American Home Furnishings. The building includes a multi-level parking garage with 1,000 covered parking spaces.

The building is currently a state-of-the art Customer Contact Center facility for Comcast. The facility consists of product training labs, training rooms, video conference facilities, cafeteria, movie theaters, and a fitness center.  In addition to the modern interior upgrades, the building’s location provides vast amenities within the Tucson Mall trade area such as: restaurants, public transit facilities, public parks/recreational facilities, retail stores and the Tucson Auto Mall.  Of note, the facility is adjacent to “The Loop”. The Tucson Loop currently totals 100-plus miles of bicycle, running and fitness trails which link Marana, Oro Valley and Metropolitan Tucson to its many parks and other public amenities.

Other recent Cushman & Wakefield | PICOR deals include:

• Elite Roofing Supply purchased a 12,800-square foot industrial building, located at 5455 S. Nogales Hwy. in Tucson, from Redyns Development, LLC for $1,100,000.   Elite Roofing Supply’s new Tucson location is destined to be a go-to for service and solutions for the roofing contractor community and do-it-yourselfers.  Elite was founded in Arizona and prides itself on partnering with roofing professionals to put roofs above the heads of businesses and families.  Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented the seller and Ron Zimmerman, Industrial Specialist with Cushman & Wakefield | PICOR, represented the buyer. 

Leases:

• Pro Box Portable Storage, LLC leased 1.72 acres of land at 3825 and 3841 N. Highway Dr. in Tucson from JH Associates, LLC.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Robert DeLaney with CBRE, Inc. represented the tenant.

• Allied Building Products Corporation renewed their lease for 24,596 square feet at 3525 E. 34th Street in Tucson from BD 34th Properties, Inc.  Rob Glaser, SIOR CCIM, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Mark Urbanowicz with Mohr Partners, Inc., represented the tenant.  

• Bison Engineering, Inc. leased 6,358 square feet in Alvernon Business Center, 3865 E. 34th St., Suite 102B, 103, and 105 in Tucson, from AP & D Investments, LLP.  Rob Glaser, SIOR, CCIM, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Tim Healy with CBRE, represented the tenant. 

• Veterans Housing Agency, Inc. leased 4,070 square feet at 720 E. 46th St. in Tucson, from El Gato Investment Two, LLC.  The team of Russell W. Hall, SIOR, GSCS, Stephen D. Cohen, and Kelly Fickle, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord and Phillip Fileccia with Realty Executives Tucson Elite, represented the tenant.

• Karlus Owagoke leased 2,954 square feet in Midpoint Business Plaza, 3949 E. 29th St., Suites 701-705 in Tucson, from Presson Midpoint, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Principals and Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

• Nuanced Media, LLC leased 2,604 square feet of office space at 100 N. Stone Ave., Suite 305 in Tucson, from Holualoa Pioneer, LLC.  Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the tenant and Bruce Suppes with CBRE, Inc., represented the landlord.  

• Desert Luna Realty, LLC leased 2,160 square feet in Ruthrauff Commerce Center, 2420 W. Ruthrauff, Suite 100 in Tucson, from Presson Scottsdale, LLC.  Rob Glaser, SIOR, CCIM, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction.

• Frederic Miracle dba Miracle Honeybee Corporation leased 1,700 square feet in Gateway Business Park, 3720 S. Park Ave., Suite 605 in Tucson, from William Lee, LLC.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

• B2B Delivery, LLC renewed their lease for 1,500 square feet at 3534–3538 N. Romero Rd., Suite 190 in Tucson, from Costa Verde Investments, LLC.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  

• Wise Guys in Ties, LLC leased 1,243 square feet of office space at 3131 N. Country Club, Suite 209 in Tucson, from Spirits, LP.  Isaac Figueroa, Office and Investment Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

• Trimillennium Corporation leased 1,240 square feet in Clairemont Plaza, 1664 S. Research Loop, Suite 228 in Tucson, from Clairemont Partners, LLC.  Rob Glaser, SIOR, CCIM, and Max Fisher, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

• Sylvr Threads Designs and Sweet Nola Baby Boutique leased 1,200 square feet in Commerce Plaza, 245 S. Plumer Ave., Suite 28 in Tucson, from Plumer Partners, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction. 

• Arizona Technical Services, LLC leased 1,200 square feet in Commerce Plaza, 245 S. Plumer Ave., Suite 25 in Tucson, from Plumer Partners, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord and Gary Andros with Andros Properties, represented the tenant. 

• J & C Carpet Specialists, LLC leased 1,200 square feet in Midpoint Business Plaza, 3933 E. 29th St., Suite 506 in Tucson, from Presson Midpoint, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Principals and Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

• Insomnia Cookies leased 1,004 square feet in Plaza Centro Shopping Center, 345 E. Congress St. in Tucson, from Crow / Plaza Centro, LLC.  Greg Furrier, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord, and Michael Laatsch with CBRE, Inc. represented tenant.  

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