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Thrive, make, innovate, create, explore, and accomplishPrepared By:
Neil DavisMike ChapmanJustin Lanné
8th AveLOFTSTucson’s Premier Live-Work Lofts
Table of Contents
04 Section 01 Property Maps
09 Section 02 Property Photos
15 Section 03 Property Information
23 Section 04 The Opportunity
28 Section 05 Tucson Overview
Disclaimer
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions prior to sale or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.
8th Avenue Lofts offers Tucson’s first in-novative live/workspace. These modern contemporary Lofts include minimalist
interior walls, stainless steel appliances, with large bedrooms and living space
for each tenant to make their own.
This urban setting plays out completely housed inside a sturdy, two story,
split face masonry structure just south of Downtown.
Every 8th Avenue Loft has the unique amenity that sets it apart from all other apartments.
Each resident gets an adjacent individual 200 - 300 square foot industrial styled warehouse workshop studio. Work-shops are entered either directly through the Lofts them-
selves, or via a short walk across the warehouse floor. Each workshop is constructed of heavy gauge steel mesh, framed with strong two inch structural square tube. Work-shops are home to whatever the tenant desires including anything from equipment storage to full blown art studio.
www.eighthavenuelofts.comTake a Virtual Tour of 8th Avenue Lofts
Click Web Link for Info & Gallery
section 01
Property Maps
section 01
Property Maps
Location Map
SUBJECT
section 01
Property Maps
Location Aerial
Sentinel Peak Park
W 22nd St
SUBJECT
Downtown Tucson
Barrio Viejo
Barrio Santa Rosa S
6th A
ve
Armory Park
section 01
Property Maps
Property Aerial
SUBJECT
W 24th St
S 9th
Ave
S 8th
Ave
W 23rd St
Assessor’s Map
section 01
Property Maps
section 02
Property Photos
section 03
Property Information
ADDRESS 1350 S 8th Ave
NEIGHBORHOOD Park/Ajo Submarket
OWNER Liberty Federal Fund LC
# BUILDINGS 1
STORIES 2
CONSTRUCTION Masonry & Steel Framing
BUILDING SIZE 17,726
# UNITS 14
YEAR BUILT Orig. 1991; Redeveloped 2018 & 2019
PARKING SPACES 21 paved and gated spots
COOLING HVAC
ELECTRIC METERS Individual
HOT WATER Electric
PIMA COUNTY ASSESSOR’S # 118-22-041A
PARCEL SIZE 0.70 Acres / 30,424 SF
REAL ESTATE TAXES (2018) $15,069
ZONING R-3 High Density Residential - City of Tucson
UTILITIES Police/Fire Protection/Sanitation: City of Tucson | Electric: Tucson Electric Power | Water: Tucson Water | Sewer: Pima County Department of Wastewater Management | Gas: Southwest Gas
section 03
Property Information
Property Information
section 03
Property Information
Unit Amenities • Walled with gated access• Polished concrete floors - 1st floor• Glazed tile floors or hardwood laminate - 2nd floor• LG Remote Controlled High SEER Room Specific Mini
Split Air Handling Systems• Exposed galvanized exhaust fans• Sliding glass doors• Exposed iron sprinkler pipes/system• Solid wood beam• 11’ ceilings - 1st floor (some)
• Dimmer controlled recessed lighting• Dual pane windows• Bathrooms with birdbath pedestal sinks, Kohler Flush
Engine toilets, exposed water heaters and one piece shower stalls
• Full sized Samsung stackable washers & dryers• Kitchens with stainless steel deep bottomed sinks with
attached drain boards, glass top electric ranges, full sized Frigidaire refrigerators, butcher block work islands on casters with lockable stainless steel drawers & cabinets (in select units)
• Modular bedroom closet shelving, shoe racks & stainless steel shelving
VALUATION YEAR
ASSESSMENT RATIO LAND FCV IMP FCV TOTAL FCV LIMITED VALUE LIMITED
ASSESSED
2019 RES OTHER (4) $502 $1,432,513 $1,433,015 $1,225,228 $122,523
2020 RES OTHER (4) $502 $1,438,076 $1,438,578 $1,286,489 $128,649
Assessor’s Valuation Data
Property Information
First Floor Plan
section 03
Property Information
329
8
410 11
12 13 14 15
Workshop Workshop Workshop Workshop Workshop
WorkshopWorkshop
Workshop
Workshop
W/S
Second Floor Plan
section 03
Property Information
10 11 12 13 14 15
769
5
Workshop
InteriorBalcony Interior
Balcony
InteriorBalcony
InteriorBalcony
InteriorBalcony
Workshop
Floor Plans
section 03
Property Information
Unit 2995 SF Total
806 SF Live / 189 SF Work1 Br - 1 Ba
Br
Unit 31,475 SF Total
1,272 SF Live / 203 SF Work1 Br - 1 Ba
Unit 4788 SF Total
592 SF Live / 196 SF Work1 Br - 1 Ba
Unit 51,298 SF Total
841 SF Live / 181 SF Storage & Stairs / 276 SF Work1 Br + Den + Storage - 1 Ba
InteriorBalcony
Unit 61,401 SF Total
1,113 SF Live / 156 SF Storage & Stairs / 100 SF Work1 Br + Storage - 1 Ba
Floor Plans
section 03
Property Information
Unit 71,705 SF Total
1,264 SF Live / 165 SF Storage & Stairs / 276 SF Work1 Br + Storage - 1 Ba
Unit 8326 SF Total
268 SF Live / 58 SF Under Stair StorageStudio + Storage - 1 Ba
Unit 9635 SF Total
502 SF Live / 133 SF Work1 Br + Den - 1 Ba
Unit 101,100 SF Total
998 SF Live / 102 SF Work1 Br + Den - 2 Ba
Unit 111,603 SF Total
1,157 SF Live / 234 Patio / 212 SF Work1 Br + Indoor Balcony + Den - 2 Ba
Work Space
Interior Balcony
Interior Balcony
Under Stairs
Storage
Floor Plans
section 03
Property Information
Unit 121,684 SF Total
1,238 SF Live / 234 Patio / 212 SF Work1 Br + 2 Dens + Indoor Balcony - 2 Ba
Unit 131,590 SF Total
1,144 SF Live / 234 Patio / 212 SF Work1 Br + Den + Indoor Balcony - 2 Ba
Unit 141,562 SF Total
1,116 SF Live / 234 Patio / 212 SF Work1 Br + Den + Indoor Balcony - 2 Ba
Unit 151,596 SF Total
1,150 SF Live / 234 Patio / 212 SF Work1 Br + Den + Indoor Balcony - 2 Ba
Interior Balcony
Interior Balcony
Interior Balcony
Interior Balcony
Work Space
Work Space
Work Space
Work Space
section 04
The Opportunity
Rent Roll/Unit Mix
section 04
The Opportunity
2 1Br-1Ba 806 - - 189 995 $950 $1.18 $0.95 9/1/20 10/31/203 1Br-1Ba 1,272 - - 203 1,475 $1,050 $0.83 $0.71 1/1/18 2/29/204 1Br-1Ba 592 - - 196 788 $895 $1.51 $1.14 9/1/19 9/30/205 1Br+Den+Storage-1Ba 841 - 181 276 1,298 $1,195 $1.42 $0.92 6/1/19 6/30/206 1Br+Storage-1Ba 1,113 - 156 100 1,369 $1,250 $1.12 $0.91 5/1/19 7/31/197 1Br+Storage-1Ba 1,264 - 165 276 1,705 $1,200 $0.95 $0.70 2/1/19 2/29/208 Studio+Storage-1Ba 268 - 58 - 326 $900 $3.36 $2.76 9/1/19 11/30/209 1Br+Den-1Ba 502 - - 133 635 $895 $1.78 $1.41 10/1/18 9/30/2010 1Br+Den-2Ba 998 - - 102 1,100 $1,200 $1.20 $1.09 11/1/18 12/31/1911 1Br+Indoor Balcony+Den-2Ba 1,157 234 - 212 1,603 $1,550 $1.34 $0.97 9/1/19 9/30/2012 1Br+2Dens+Indoor Balcony-2Ba 1,238 234 - 212 1,684 $1,600 $1.29 $0.95 11/1/19 10/31/2013 1Br+Den+Indoor Balcony-2Ba 1,144 234 - 212 1,590 $1,400 $1.22 $0.88 10/1/18 12/31/2014 1Br+Den+Indoor Balcony-2Ba 1,116 234 - 212 1,562 $1,450 $1.30 $0.93 9/1/19 10/31/2015 1Br+Den+Indoor Balcony-2Ba 1,150 234 - 212 1,596 $1,150 $1.00 $0.72 3/1/18 4/30/20
Total 13,461 1,170 560 2,535 17,726 $16,685 - - - -
Total SFCurrent
RentRent / Apt
SFRent /
Total SFLease Start
Lease End
Indoor Balcony SF
Unit # Unit Mix Apt SF Storage SFWorkspace
SF
Average 962 - - 181 1,266 $1,192 $1.24 $0.94 - -
Property ProForma
section 04
The Opportunity
NotesINCOME
Rental Income $200,220 Current Rent-November 2019 AnnualizedLess Vacancy/ Bad Debts ($12,013) 6.00% 100% Occupied with 12 Month Leases
Net Rental Income $188,207
EXPENSES $/Unit/Yr.Management Fees ($15,057) ($1,075) 8% of Net Rental IncomeRepairs and Maintenance ($5,600) ($400) $400/Unit/YearCentral Alarm - sprinkler alarm monitoring ($660) ($47) $55/Month-ActualGrounds and parking maintenance ($1,536) ($110) $128/Month-ActualTurnover ($1,260) ($90) 30%/Year @$300/UnitMiscellaneous Charges ($600) ($43) $50/MonthElectricity- common area usage ($1,240) ($89) 11 Months November 2019 AnnualizedWater Meter #1 ($1,142) ($82) 11 Months November 2019 AnnualizedWater Meter #2 ($1,454) ($104) 11 Months November 2019 AnnualizedTrash Removal & Dumpster Rental ($1,032) ($74) $86/Month-ActualHazard Insurance ($3,796) ($271) Actual Real Estate Taxes ($15,069) ($1,076) 2019 Real Estate TaxesReserves for Replacement ($3,500) ($250) $250/Unit/YearTotal Expenses ($51,946) ($3,710)
NET OPERATING INCOME $136,261 $15,140
Proforma
section 04
The Opportunity
Sales Price $2,271,000$/Unit $162,214$/Sq. Ft. $128.12Capitalization rate 6.00%
Net Operating Income- Proforma $136,261
Income & Expenses Trailing 11 Months
section 04
The Opportunity
INCOMEUnit # Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19
11-Months 2019
2 - - - - $950 $950 $950 $950 $950 $950 $950 $6,6503 - $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $10,5004 - $875 $875 $875 $875 $875 $875 $875 $875 $895 $895 $8,7905 - - - - - - $1,195 $1,195 $1,195 $1,195 $1,195 $5,9756 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $13,7507 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $13,2008 - - - - - - - - - $900 $900 $1,8009 $895 $895 $895 $895 $895 $895 $895 $895 $895 $895 $895 $9,845
10 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $13,20011 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,550 $1,550 $14,80012 $1,550 $1,550 $1,550 $1,550 $1,550 $1,550 $1,550 $1,550 $1,550 $1,550 $1,550 $17,05013 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $15,40014 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,450 $15,45015 $1,150 $1,150 $1,150 $1,150 $1,150 $1,150 $1,150 $1,150 $1,150 $1,150 $1,150 $12,650
Total Income: $11,345 $13,270 $13,270 $13,270 $14,220 $14,220 $15,415 $15,415 $15,415 $16,585 $16,635 $159,060
EXPENSESCentral Alarm ($55) ($55) ($55) ($55) ($55) ($55) ($55) ($55) ($55) ($55) ($55) ($605)Grounds Maintenance ($128) ($128) ($128) ($128) ($128) ($128) ($128) ($128) ($128) ($128) ($1,280)Miscellaneous Charges ($52) ($52) ($52) ($156)TEP-Common use area ($105) ($97) ($91) ($77) ($64) ($66) ($63) ($58) ($60) ($192) ($264) ($1,136)Tucson Water Meter #1 ($77) ($78) ($92) ($82) ($78) $130 ($296) ($181) ($88) ($78) ($127) ($1,047)Tucson Water Meter #2 ($255) ($180) ($156) $156 ($164) $149 ($172) ($85) ($206) ($214) ($207) ($1,333)Republic Services ($86) ($86) ($86) ($86) ($86) ($86) ($86) ($86) ($86) ($86) ($86) ($948)Hazard Insurance ($3,796) ($3,796)2019 Real Estate Taxes $0Total Expenses: ($706) ($624) ($608) ($272) ($4,371) ($56) ($800) ($646) ($675) ($805) ($739) ($10,302)
NOI: $10,639 $12,646 $12,662 $12,998 $9,849 $14,164 $14,615 $14,769 $14,740 $15,780 $15,896 $148,758
*Prepaid
**Prepaid until May 2020
November 2019
section 05
Tucson Overview
section 05
Tucson Overview
Tucson MSA Demographics
section 05
Tucson Overview
#1#2#3#4
IMPRESSIVE TUCSON MULTIFAMILY MARKET
Record Breaking Rent Growth: Apartment revenue over the last year has increased 5.74% due to higher rents, lower vacancies (5.54%) and lower concessions (1.0%)
Tucson Rental Affordability: Tucson is amongst the most affordable market in the nation for renters when comparing median household income to average annual rent (18.1%)
Limited New Construction Supply: Tucson is virtually at the bottom of all major markets in the United States with <2% new construction growth for conventional market rate apartments.
Improving Job Market: New job announcements, including Amazon, continue to support previous announcements of Caterpillar and Raytheon.
section 05
Tucson Overview
Strong Tucson Market Fundamentals! Year Deliveries Absorption Vacancy
Average Rent/Unit
% IncreaseAverage
Concessions
2014 663 827 9.8% $650 1.1% 5.6%
2015 539 1,145 8.7% $671 3.2% 4.3%
2016 606 1,254 8.0% $701 4.5% 3.3%
2017 44 1,274 6.4% $735 4.9% 2.3%
2018 397 297 6.1% $786 6.49% 1.2%
2019 584 599 5.54% $831 5.74% 1.0%
2,833 5,396
Source: Vailbridge Property Advisors & Real Data
section 05
Tucson Overview
Year-Over-Year Rent Growth Tertiary Markets
July 2019National Markets 2019 Forecast
YoY Change June 2019Overall Lifestyle
Tucson 5.8% 6.0% National - All Markets 2.6% 3.0%
Colorado Springs 5.7% 5.1% Las Vegas 5.4% 8.4%
Tacoma 5.2% 5.1% Phoenix 5.3% 8.1%
NC Triad 4.9% 5.9% Tucson 5.1% 6.1%
Albuquerque 4.9% 5.8% Tacoma 4.9% 5.7%
Central Valley 4.9% 1.1% Winston-Salem 4.7% 4.8%
Long Island 4.5% 4.1% Colorado Springs 4.3% 5.1%
Salt Lake City 4.0% 2.6% Long Island 4.3% 5.1%
San Fernando Valley 3.8% 3.0% Jacksonville 4.1% 4.1%
Louisville 3.6% 2.9% Nashville 4.1% 4.1%
Indianapolis 3.3% 2.8% SW Florida Coast 4.1% 1.0%
Bridgeport-New Haven 2.9% 3.5% Raleigh 4.0% 4.4%
Reno 2.7% 2.0% Orlando 4.0% 3.0%
St. Louis 2.6% 1.8% Milwaukee 4.0% 3.4%
Northern New Jersey 2.1% 1.4% Twin Cities 4.0% 4.0%
El Paso 1.9% 0.4% Seattle 3.9% 3.1%
Central East Texas 1.7% 2.8% Memphis 3.8% 3.6%
SW Florida Coast 1.2% 0.7% Sacramento 3.8% 5.3%
Austin 3.7% 4.9%
Inland Empire 3.6% 4.2%
St. Louis 3.6% 2.4%
Louisville 3.6% 3.4%
Knoxville 3.6% 3.6%
Columbus 3.6% 2.6%
Tampa-St.Petersburg 3.5% 3.1%
Los Angeles 3.5% 3.2%
Source: Yardi Matrix
section 05
Tucson Overview
Why Live In Tucson? Tucson GeographyTucson is situated in the eastern portion of Pima County, Arizona in one of the lushest valleys found in the Sonoran Desert. Surrounded by five unique moun-tain ranges, opportunities for outdoor exploration are endless. A quick drive along the Catalina Highway-Sky Island National Scenic Byway can take you from the lower elevations of the valley floor to the summit of Mt. Lemmon at 9,157 feet. In roughly an hour this scenic drive traverses seven of the world’s nine life zones—the span of ecosystems you’d see driving from Mexico to Canada.
The city is bordered on all sides by protected natural areas: Coronado National Forest, Catalina State Park, Ironwood Forest National Monument, and Sagua-ro National Parks East and West (the best places to see the giant saguaro cactus native only to Southern Arizona and Native Mexico).
Because of the variety of terrain and proximity to protected areas and parks Tucson is widely considered one of the world’s best destinations for activities such as hiking, cycling, rock climbing, horseback riding, and just about anything else you would want to do outdoors.
Tucson ClimateBoasting an average 350 sunny days a year and warm dry air, Tucson’s climate is ideal for outdoor recreation, with winter temperatures reaching average highs of 64-75°F. Summer days are often hot with low humidity—great for indoor activities like museums, art galleries, and shopping or relaxing indoor or poolside at one of the area’s world-famous spas or resorts. Cool mornings and evenings and long twilight hours throughout summer make for memorable cookouts, patio dining, and activities like hiking and horseback riding. Golf can be enjoyed year-round with a host of pro-level courses. In summer months both early morning and late afternoon tee times are available at reduced prices, making it even easier to hit the links.
Living in TucsonTucson is a destination that hosts nearly 7 million visitors a year; a place known for outstanding hiking and outdoor adventures, rich cultural traditions, a vibrant arts scene, world-class golf and great dining; and a thriving desert home to more than 1 million residents. Designated as the first UNESCO Creative City of Gastronomy in the United States, Tucson is also known worldwide for its culinary traditions and an amazing assortment of restaurants, including those that comprise The Best 23 Miles of Mexican Food - without a doubt the premier destination for Mexican Food in the entire U.S.
The second-largest city in Arizona and the county seat of Pima County, Tucson is centered around the smaller towns of Oro Valley, Marana, Catalina, South Tucson (an independent municipality just south of downtown), Sahuarita, Vail, and Green Valley.
Tucson is home to the University of Arizona—established as Arizona’s first university in 1885 and now a campus of more than 50,000 students and staff from around the world. Tucson also hosts a large number of annual events drawing participants and spectators from around the world, including The Tucson Gem, Mineral & Fossil Showcase, All Souls Procession, La Fiesta de los Vaqueros (Tucson Rodeo), Tucson Festival of Books, Tucson International Mariachi Conference, El Tour de Tucson road bike race, and Cologuard Classic, a Tucson PGA TOUR Champions Tour Event.
This desert oasis is not only a premier vacation destination but also a great place to live, work, and play – Tucson is the Southwest at its best.
section 05
Tucson Overview
Why Do Business In Tucson?
Tucson has what your business needs.
A diverse and welcoming community, Tucson offers an outstanding quality of life along with a low cost of doing business. Our manufacturers lead the way in inno-vation, in sectors as varied as aerospace, biotech, defense, healthcare, informa-tion technology, optics, solar, and water.
Tucson has the highest concentration of startups of any U.S. city its size and is ranked as a top five city for entreprenuers by Entrepreneur Magazine.
Just 60 miles from the Mexico border, with high-capacity border and transporta-tion infrastructure, Tucson is the natural choice for companies doing business in the U.S. and Mexico.
Education
Tucson is proud of the achievements of its primary and secondary schools which offer a wide variety of educational choices to area students.
The University of Arizona is the state’s premier research university, ranked among the top 20 of public research universities nationwide. With a global reputation for innovative research, University of Arizona faculty – including five Nobel Prize win-ners – are helping create the next generation of knowledge workers.
#1 ranked Geology Department, and is a top producer of Fulbright Scholars
#3 in the nation by the NationalScience Foundation for physical sciences research
More NASA grants for space exploration research than any other university
Pima Community College, with six campuses, four education centers, and several adult learning centers is one of the largest multi-campus community colleges in the U.S. It provides traditional and online instruction for over 144 programs, as well as workforce training, personal interest classes, and post-baccalaureate certificates.
Tucson has 2 of the best high schools in the nation: Basis High School and Uni-versity High School
The greater Tucson area has: 229 public schools in 17 districts in Pima County (many with open enrollment options) and 84 charter schools
section 05
Tucson Overview
Research Parks
UA Tech Park
• One of the nation’s premier research and development facilities offering a unique environment dedicated to the transfer of technology from the laboratory to the marketplace.
• Almost 2 million square feet of space featuring high tech office, R&D and laboratory facilities on 345 acres.
• Home to six Fortune 500 companies: Citigroup, CH2MHill, IBM, Oracle, Optum RX (United Healthcare Group), and Raytheon, as well as several emerging tech-nology companies including NP Photonics, and DILAS Diode Laser.
• Home to the Arizona Center for Innovation, a technology business incubator.
• Home to two educational institutions - UA South and Vail Academy and High School.
UA Tech Park at The Bridges
• 65-acre park that is development ready in central Tucson
• Located two miles south of the University of Arizona Main Campus and within five miles of 40 biotech companies and organizations including three major research hospitals: University of Arizona Medical Center, University of Arizona Medical Center South Campus and Southern Arizona VA Health Care System.
• Designed as an urban park
• Accommodates up to three million square feet of development ranging from single story to six story buildings.
• Incorporates the best practices for sustainable development, including 15 acres of designated open space and significant linkages for community engagement.
• Part of Tucson’s newest mixed use development- The Bridges. At build-out, this dynamic community will include sophisticated biotechnology office and laboratory
space, a regional shopping center, and residential development.
section 05
Tucson Overview
Downtown Redevelopment Tucson’s vibrant downtown core is the place to experience the boundless cultural and outdoor festivals of the city. The Modern Streetcar links the downtown and the University of Arizona invigorating the area with activity day and night.
Tucson boasts a vibrant arts community with numerous museums, including the Arizona State Museum, the Tucson Museum of Art, and the Center for Creative Pho-tography. The Downtown Arts District is crowded with theaters, restaurants and performance spaces. The community supports a ballet, a symphony, an opera compa-ny, and a jam-packed calendar of live music and performing arts choices.
The City’s new Sun Link Modern Streetcar line runs from the west side of downtown through the heart of the City, along the popular Fourth Avenue shopping district, through the University of Arizona Main Campus, to the University Medical Center. Streetcar development has already brought over $600 million in private investment to downtown Tucson.
Transportation & Logistics Tucson is a vital transportation and distribution hub - Tucson’s unique location near Mexico and their deep-water ports, as well as its substantial transportation infra-structure, means excellent access for trade, connecting people and products in today’s competitive global marketplace.
Tucson sits at the crossroads of Interstate 19 and Interstate 10 - I-10 is one of only three coast-to-coast highways in the country, and I-19 connects directly with Mexico’s Federal Highway 15 through Nogales, Sonora, Mexico
Tucson established the first municipal airport in the United States - Tucson has long recognized the importance of air access, and Tucson International Airport (TIA) continues to meet the aviation demands of both business travelers and freight, and it is a cornerstone of the region’s tourism and economic development. TIA’s world-class facilities have a $3.2 billion economic impact and support approximately 35,000 jobs.
TIA plays a leading role in Tucson’s aerospace, industrial, logistics, transportation, and technology sectors - With over 3000 acres of developable land and only 6 miles south of downtown Tucson, TIA’s near-term plans focus on efficiency and sustainability, including development of an additional air-carrier runway and enhanced connectivity of multi-modal transit and freight facilities.
The Port of Tucson - The Union Pacific’s main line runs east to west through Tucson, giving the City an advantage in transportation and logistics. The Port of Tucson, a multifaceted rail facility, provides a wide variety of rail oriented transportation options including intermodal container handling, boxcar access, and team track.
Tucson AcclaimsTucson’s geographic location makes it an ideal destination for outdoor activities and use of solar technology. The four mountain ranges surrounding the city provide abundant hiking and cycling opportunities, while the 340+ days of sunshine a year has allowed the region to emerge as one of the leaders of technology development, manufacturing and solar power generation.
#1 Bike Town in the U.S. - Outside Magazine | #2 Entrepreneurial Hot Spot | #5 Best Place for Outdoor Activities | #7 Community in the Nation for Energy Star Homes
#9 Cities Best Suited for Fitness and Walking | #10 Healthy Lifestyle Top 10 Places to Retire
section 05
Tucson Overview
University of Arizona In addition to the economic benefits the region’s natural surroundings offer, Tucson is home to the University of Arizona which is responsible for some of the most recog-nized optics, astronomy, and medical industries in the nation. The University of Arizona was the largest regional employer in 2012 with 11,604 full-time employees and has an economic impact of approximately $2.1 billion annual. In 2014, the annual Academic Ranking of World Universities placed the University of Arizona at No. 46 among U.S. schools and No. 86 worldwide.
#1 Ranking College of Science among observational, theoretical, and space astronomy programs in the U.S. – National Science Foundation
#1 Largest optics program among U.S. institutions – College of Optical Sciences
#1 Among U.S. business schools in the amount of federal grant support attracted by college faculty – Eller College of Management
#4 Ranking of the School of Art MFA Photography program among public institutions – U.S. News & World Report
19th in research and development expenditures among public universities with $650 million in federal funding – National Science Foundations
section 05
Tucson Overview
Opportunity to Capitalize on Growing Tucson Workforce! Caterpillar, Inc. has selected Tucson for as its new location for its Surface Mining and Technology Division. The Tucson facility will create more than 600 new high paying jobs over 5 years.
Raytheon Company plans to expand its Southern Arizona operations by adding near-ly 2,000 jobs at the Missile Systems business headquarters over a five-year period. The company plans to hire workers at all skill levels with an emphasis on engineering and other higher-wage, technical positions.
Banner Health has broken ground on the 9-story 670,000 sq. ft. University Medical Center Hospital and the 240,000-sq. ft. Banner Health Center outpatient and imaging facility along with a 962-space parking garage at the Arizona Cancer Center. The cost of said develop-ments is $500 million.
ADP is a well-known fortune 500 global provider of cloud-based human capital management systems. The company plans to hire 450 employees. Total economic impact is $485 million.
Creative Machines is a multi-disciplinary firm whose ablities span exhibition design, ball ma-chine sculptures and monumental public art. Creative Machine is adding 20 employees to its Tucson facility. Capital expenditure is $2.1 million, resulting in a $35 million economic impact.
Lucid Motors has selected Casa Grande/Pinal County as the site for its new electric car manufacturing facility, with 2,213 new jobs and a $700 million capital investment. This is Arizona’s first auto manufacturing operation the project represents a $1.7 billion economic impact to the state.
Vector Space Systems, a micro satellite space launch company, is locating its manufac-turing facility in the Poma County Aerospace, Defense and Technology Business & Research Park, and adding 200 high-wage jobs. The company’s expansion is expected to have an estimated $290 million economic impact over 5 years.
Global Equity Finance has a unique business model of banking and brokering loans that al-lows them to focus on finding the best loan and the best rates for their clients. The Company is expected to hire 82 new employees, resulting in a $96 million economic impact.
Mainstreet offers a unique design concept in Healthcare for the growing senior population. The company is expected to hire 90 new employees, resulting in a $53 million economic impact.
Bombardier aerospace is adding 27 employees at its Tucson Airport facility, due to a steady growth in work orders. Capital expenditure is $3.5 million, resulting in an $17.4 million eco-nomic impact.
Arcadia Custom Windows and Doors is a high-end window and door manufacturer locat-ed in Tucson’s south east side. The company recently purchased its facility and plans to add 150 jobs. Capital expenditure is $6.2 million, resulting in a $80.4 million economic impact.
Worldview Enterprises is a space and exploration company with many commercial appli-cations that will establish a new headquarters, utilizing 25 acres on the Pima County A & D Part property. Three to five year projections anticipate 448 new high-wage and $40 million in capital expenditure. Estimated economic impacts are $384 million.
Geoworld is an Italian-based educational toy company looking to relocate their World Head-quarters from Italy to southern Arizona. The new world headquarters in Tucson will bring 25 jobs and estimated impacts are $28 million.
Arizona Turbine Technology is an energy-production technology created by Tucson Embed-ded Systems. The company plans to hire 22 employees. Economic impact is estimated at $48 million in the next 5 years.
Truly Nolen is a pest control company that is Tucson-based. Employees attend a compa-ny-established state of the art training facility in Tucson. The company expects to hire 70 employees, with an economic impact estimated at $34.4 million.
International Towers produces and erects towers and antennas for cellular providers, gov-ernments and broadcasters worldwide. The company’s projected hiring of 130 employees will create an estimated economic impact of $170 million.
Applegate Insulation Technology, the world’s largest family-owned manufacturer of cellu-lose insulation products, is expected to hire 50 employees, with an economic impact of $69 million.
New Holland Agriculture is a global brand of agricultural machinery (tractors, combine harvesters, etc.), which is expected to hire 25 employees with estimated economic impact of $20 million.Source: SUN CORRIDOR, Inc. - www.suncorridorinc.com
section 05
Tucson Overview
Opportunity to Capitalize on Growing Tucson Workforce! Cont.Sheffield Lubricants LLC uses proven technology to recycle used lubricating oil into valu-able commodities like diesel fuel and gasoline and is expected to hire 30 new employees with an economic impact estimated at $82.9 million.
Samsung Smart Things lets you control your smart devices with a simple tap and automate your home with your own personal preferences. The company plans to occupy space in downtown Tucson with 80 new employees. Economic impact is projected at $38.6 million.
HTG Molecular develops proprietary gene expression assays for various tissue types and diseases. The company is expected to hire 13 new employees, with economic impact pro-jected at $66.9 million.
Bayview Asset Management is a mortgage investment firm specializing in mortgage credit investments. The company is expected to hire 95 new employees, with economic impact of an estimated $139.8 million.
Mathematica’s main focus is the innovation of programs to evaluate policy research. The Company is expected to hire 75 new employees. Economic impacts are estimated at $35 million.
GW Plastics is a global leader in plastic injection molding. The company plans to add 70 em-ployees to their Tucson operations. Economic impact is estimated at $38 million.
Otto Environmental Systems, a manufacturer and service provider in the collection and container industry, is estimated to hire 32 new employees. Total economic impact of nearly $9 million.
AAA of Arizona is adding 97 employees at the Tucson facility.
Ascensus adding 192 employees at new Tucson office.
Ernst & Young opened national executive support center with 125 jobs.
Hexagon Mining is relocating and expanding North American headquarters to downtown Tucson with 140 jobs and adding 119 jobs over the next 5 years.
Innovation Manufacturing Solutions is adding 65 new jobs to its facility.
Monsanto opening a new research facility near Marana, AZ with 60 new jobs. Northwest Medical Center is opening a new freestanding emergency department in Marana
with 25 new high-paying jobs.
Arconic Fastening Systems Tucson expansion of a new product line which will create 70 new jobs.
Amazon is building a new 855,000 SF high-tech fulfillment center at the Port of Tucson with 1,500 new jobs.
Atlas Copco will add 20 new employees to serve Arizona & New Mexico.
Burns McDonnell a full-service engineering, architecture, construction and consulting firm is opening a new Tucson office with 20 employees.
Citi Tucson: Citigroup will be adding 639 new positions to support new contracts and plans a capital investment of $5 million.
Convergys will be adding 150 new employees at the Tucson location to support new con-tracts.
GEICO has 2,100 existing employees and will build a new regional office at the Bridges, a mixed-use development located near I-10 and Kino Parkway, and hire an additional 861 employees.
Mister Car Wash is expanding it Tucson-based headquarters with an additional 47 new employees.
Northwest Healthcare has announced a new 18-bed hospital and expanded medical ser-vices on the southeast corner of I-19 and Sahuarita Road which will add 156 new jobs.
TuSimple an autonomous commercial vehicle technology company based in China has opened a new facility in Tucson that will serve as a hub for testing autonomous semi-trucks. The company anticipates creating 100 new jobs which will primarily be advanced engineering positions, in addition to truck drivers and operators.
AXISCADES, one of India’s leading technology solutions providers, announced its expan-sion into Tucson, where it will create hundreds of jobs primarily in mechanical and electrical engineering.
Texas Instruments to build a $29M facility on the last vacant parcel at the Williams Centre in Tucson and add 35 high-paying jobs.
Source: SUN CORRIDOR, Inc. - www.suncorridorinc.com
For More Information Contact:
Neil Davis Justin Lanné Mike ChapmanMultifamily Specialist Managing Director Senior Vice President [email protected] [email protected] [email protected] 398 4984 520 907 3470 520 591 5188
2900 N Swan Rd, Suite 200Tucson, AZ 85712
520 326 2200 naihorizon.com
8th Avenue Lofts Tucson, AZ TUCSON’S FIRST INNOVATIVE LIVE/WORK SPACE
This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of 8th Avenue Lofts, 1350 S 8th Avenue, Tucson, AZ.
This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Owner or the Property, to be all-inclusive or to contain all or part of the information that prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market con-ditions, competition, and other factors beyond the control of the Owner and NAI Horizon. Therefore, all projections, assumptions, and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. Neither the Owner nor NAI Horizon, nor any of their respective directors, officers, affiliates, or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents.
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