TUCSON-A new office high rise could be on the horizon.
Cummings Baccus, an Austin, Texas-based real estate investment company, only needs a tenant looking for 50,000-sf of office space in the downtown area to green light construction of an office tower, says Dan Cooper, the company's partner for acquisitions.
Construction of a new office tower “will be a function of demand,” he says. “If someone comes along who wants 50,000 to 100,000 square feet, we'll consider building what they need,” Cooper says.
The new tower would be built on a 1.5-acre lot in downtown Tucson at 1 S. Church Ave.
In December, Cummings Baccus the Unisource Energy Tower, a 23-story, 230,000-sf office building on the parcel, purchased for $27.8 million. The new tower would be a twin in size and design of the existing one.
In the same purchase, Cummings Baccus purchased the Pueblo Parking Garage, retail space and a surface parking lot at the southwest corner of Broadway and Stone Avenue. Cummings Baccus also owns the former Pioneer Hotel building at 100 N. Stone Ave.
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