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21,473-SF Office Building Trades for $3M

TUCSON-A local limited liability company scoops up its first office investment, besting two other would-be buyers for a fully leased building across the street from the mall. The listing closes out in three weeks with the $3.1-million offer.

By Jennifer D. Duell | Updated on July 21, 2005

TUCSON-A local investor with 1031 proceeds to spend has invested $3.1 million in a 21,473-sf, class B office building. The acquisition is the first office investment by Jenstarr LLC, which previously concentrated on multifamily assets.

Located at 17 W. Wetmore Rd. across from the Tucson Mall, the building received three solid offers during three weeks of marketing, says Josh Hirons, an investment broker with Marcus & Millichap Real Estate Investment Brokerage Co. He partnered with Thomas Montgomery and Dale Webber to represent the seller, BDL Tucson LLC of Phoenix, which holds a master lease for the first and third floors for the offices of its Diversified Human Resources company.

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