The property located at 3360 E Hemisphere Loop in Tucson, part of the Tucson International Business Center, has been sold for $13.7 million. This office flex building spans over 72,000 square feet and was purchased by Preissman Perris.
Originally built in 2008, this two-story building is situated on approximately 9.3 acres of land with an additional 5 acres available for future expansion. It was specifically designed to meet the needs of Raytheon Missile Systems and is approved by the Department of Defense.
Raytheon will continue to lease the building under a long-term agreement with 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 served as Arizona’s broker record.
The buyer Preissman Perris represented themselves during this transaction. They are part of Ronald Preissman’s family who owns significant amounts land throughout Los Angeles metropolitan area.
