Lee & Associates facilitated the sale of a 72,000-square-foot former Raytheon Missile Systems flex office building at 3360 E. Hemisphere Loop, Building M10, Tucson for $10,500,000. Price-per-square-foot was calculated at $145.83.
Lee Principals Jerry Marrell and Dave Johnson negotiated on behalf of DCG IV, LLC, a Seattle-based investment firm. Lee Principal Pete Batschelet procured the buyer, 3360 E. Hemisphere Loop, LLC, Scottsdale.
Built in 2008, the single-tenant, two-story, building sits on approximately 4.45 acres with an additional 4.92 acres of land available for expansion. The building features 4.67/1,000 parking, two split system A/C systems and a contemporary architecture in a business park setting. It is a Department of Defense approved facility and was a built-to-suit for Raytheon Missile Systems. The property is close to the I-10 Freeway and Tucson International Airport.
Raytheon Missile Systems is headquartered in Tucson and is the largest non-governmental employer in the city. This business unit specialized in advanced weaponry development and is a critical defense industry contractor. Raytheon Co. is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. Founded in 1922, the company provides state-of-the-art electronics, mission systems integration, capabilities in C5I (command, control, communications, computing, cyber and intelligence), sensing, eff ects and mission support services. Raytheon Co. is headquartered in Waltham, Massachusetts.
