The former Geico building on the city’s east side has been bought for possible redevelopment.
The Gateway Center at East Speedway and North Kolb Road has been purchased by local developers for possible redevelopment.
Larsen Baker, through its affiliate Gateway Center Associates LLC, bought Gateway Center at 930-950 N. Finance Center Drive for $2.7 million.
The three-building complex with 129,000 square feet is at the corner of East Speedway and North Kolb Road. Geico Insurance operated its Tucson office there from 2002-20.
“Larsen Baker is ready for the challenge to reposition Gateway Center into its next successful iteration,” said Isaac Figueroa, who represented the buyer in the sale. “We like the property’s versatility as a campus, a company headquarters, a multi-tenant, multi-owner complex, or an adaptive reuse project.
This map shows the layout of Gatewood Center on Tucson's east side.
“We’re excited to get to work.”
In 2018, local developer Don Bourn started work on a new office building for Geico at The Bridges, near Park Avenue and Interstate 10, when the insurer was considering leaving Tucson for lack of office space.
Other local commercial activity includes:
• Richard and Mary Werschky Family Trust and Graham Sutton bought a 25,200-square-foot warehouse at 625 W. Rillito St. from Postcraft Co. for $1.8 million for gem show-related needs. Gary Emerson and Randy Emerson, of GRE Partners LLC, represented the seller.
• 3213 Blacklidge LLC bought the 5-unit Blacklidge Apartments at 3213 E. Blacklidge Drive from AMT Real LLC for $520,000. Allan Mendelsberg and Joey Martinez, with Picor, represented both parties.
• Base Met Labs US Ltd., which performs metallurgical testing services for the mining industry, leased 10,995 square feet of industrial space at 546 E. 25th St. from BLW Holdings LLC. Paul Hooker and Andrew Keim, with Picor, handled the lease.
• The Tohono O’odham Legislative Branch leased 9,800 square feet of office space at 340 N. Commerce Park Loop from United Way Capital Corp. Kameron Norwood, with Picor represented both parties.
