The property located at 3360 E Hemisphere Loop in Tucson’s International Business Center has been sold for $13.7 million. This office flex building spans 72,000 square feet and was purchased by Preissman Perris.
Originally constructed in 2008, this two-story building is situated on a spacious 9.3-acre lot with the potential for an additional five acres of expansion space. It was specifically designed to meet the needs of Raytheon Missile Systems and is approved by the Department of Defense.
Raytheon remains as the sole tenant and will continue to lease the property under a cap rate of 7.37%. The seller, represented by David Meir, Jack Minassian, and Alexis Metoyer from Peak Commercial in Woodland Hills, CA., was Scottsdale-based company LLC while Sheryl Dionne from eXp Realty acted as Arizona broker-in-charge.
The buyer Preissman Perris handled their own representation during this transaction process but it should be noted that they are associated with Ronald Preissman’s family who have extensive land holdings throughout Los Angeles’ metropolitan area.
