The Pioneer Building, a well-known structure in Tucson, has recently been sold at auction for $3.8 million or $27.50 per square foot. The building was previously owned by Holualoa Arizona and purchased by Pioneer Tucson, a California-based investor. The starting bid for the building was set at $1.2 million and the transaction was handled by Ten-X.
Originally built as a hotel, this 11-story office building has a dark history as it was the site of one of Tucson’s deadliest fires in 1970 which claimed the lives of 29 guests during Christmas week.
Despite its past tragedies, the building underwent multiple renovations over time and does not hold any historical designation currently. In fact, just last year in 2017 it underwent restorations to bring back its original dining room design. With over 100,000 square feet available on approximately half an acre of land , potential buyers have options to rezone this property for various uses including office space or commercial/residential development.
Situated on .46 acres with an onsite manager and engineer available , this property also offers two free conference rooms and two restaurants located within its lobby area . For more information about this sale please visit Connect CRE.
