Tucson Real Estate: Caterpillar leases additional space downtown

Caterpillar is moving into Tucson’s tallest tower as the transition of employees from other locations continues at a brisk pace.

The company has signed a lease through April 2019 to occupy 26,093 square feet on the first and second floors at 1 S. Church Ave. The headquarters for the Surface Mining & Technology division is expected to be complete in March 2019 on Cushing Street, west of Interstate 10.

The temporary office space at 97 E. Congress St. is full, a human resources manager said.

“We are excited to welcome Caterpillar to our building,” said Zach Fenton, managing partner of 1SC Partners, the building’s owner. “We think they are a great addition to the downtown Tucson community.”

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Jeff Casper, with CBRE, represented the landlord, and CBRE’s Buzz Isaacson represented Caterpillar, along with Traci Payette and Gary Fazzio of CBRE’s Chicago office.

Other recent commercial transactions include:

• 840 N. Alvernon Way LLC bought Peachtree Apartments, a 42-unit complex at 840 N. Alvernon Way from Ridgeway and Starr Family Trust for $1.7 million. Allan Mendelsberg and Daniel Leibsohn, with Picor, represented both parties.
• The Block on H LLC bought Las Colinas Apartments, a 16-unit complex at 1488 E. Hedrick Drive from Las Colinas Apartments LLC for $1.2 million. Allan Mendelsberg and Daniel Leibsohn, with Picor, represented both parties.
• 5590 E. River Plaza LLC bought one acre of vacant land in the Rio Verde Shopping Center, 5590 E. River Road, to build a Southern Arizona Urgent Care facility. The parcel was sold by Craycroft / River LLC for $1 million. Aaron LaPrise, with Picor, represented the buyer.
• Cox Property Management LLC bought an 8,116-square-foot office building at 635 N. Craycroft Road from UCPSA LLC for $825,000. Rick Kleiner, with Picor, represented the seller, and Dale Bidegain, with Bidegain Realty, represented the buyer.
• Rincon Flower Properties LLC bought a 12-unit apartment complex at 3525 E. Flower St. from CD Gemini Investments LLC for $707,000. Allan Mendelsberg and Daniel Leibsohn, with Picor, represented both parties.
• Marless Saguaro LLC bought a 5,215-square-foot restaurant at 4499 W. Ina Road for $680,000. David Lee, of David Lee Real Estate, represented himself as the buyer. Nancy McClure, of CBRE, represented the seller.
• Fairview Investments LLC bought an 18-unit apartment complex at 3700 N. Fairview Ave. from Fairview Enterprises AZ LLC for $600,000. Allan Mendelsberg and Daniel Leibsohn, with Picor, represented both parties.
• Orange Grove Off Condo Ent LLC bought about an acre of vacant land at 1288 W. Orange Grove Road from First Credit Union for $300,000. Tom Nieman, with Picor, represented the seller, and Craig Courtney, with Courtney Realty and Investment Co., represented the buyer.
• Bowman Consulting Group LTD leased 4,082 square feet at 3280 Hemisphere Loop. Michael Coretz, of Commercial Real Estate Services, represented the tenant. Tim Healy and Bob DeLaney, of CBRE, represented the landlord, Sierra Valencia Properties.
• Twin Peaks Pizza has leased 1,448 square feet in Twin Peaks Plaza, 7575 W. Twin Peaks Road. Craig Finfrock, of Commercial Retail Advisors, represented the tenant, and the landlord, 7575 W Twin Peaks LLC, was represented by Gary Heinfeld, of Advisors in Real Estate.