Nov. 4, 2013- CBRE has negotiated the sale of a 25,216-square-foot commercial property located at 222 E. 5th St. in Tucson, Ariz. The building, which sits on a 36,950-square-foot parcel, commanded a sale price of $1.5 million.
Buzz Isaacson with CBRE’s Tucson office represented the buyer, Tucson-based Michael R. Wattis, Inc. The seller, 222 Storage LLC of Tucson, was represented by Peach Properties.
Michael R. Wattis, Inc. is a real estate developer specializing in office and industrial projects. As previously reported by the Arizona Daily Star, Wattis plans to redevelop the property as the corporate headquarters for Tucson-based Mister Car Wash by next May.
The property lies within the Downtown Area Infill Incentive District, a compelling location for the tenant, who is looking to attract top, young talent. Mister Car Wash is hoping to draw on the dynamic area’s energy and amenities.
Built in 1952, the three-story steel and brick building is seven blocks from the University of Arizona, three blocks from downtown Tucson and two blocks from the planned 4th Ave. light rail system which will connect the University with downtown.