City, State

FOR SALE / INVESTMENT OPPORTUNITY

3481 East Michigan Street Tucson, Arizona

picor.com Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

Property Highlights

Single Tenant Triple Net Investment located in Tucson, Arizona.

Tenant: Paragon Space Development Corporation

Lease Term: 7 years

• Triple Net Lease – Tenant responsible for all maintenance (including roof, parking lot, and structure), insurance and real estate taxes.

• Price: $2,250,000 ($117/SF)

• Cap Rate: 7.2%

• Original building constructed in 1990; 3,000 SF added in 2013

Robert Glaser, CCIM, SIOR Principal, Industrial Properties +1 520 546 2707 rglaser@picor.com

Brandon Rodgers, CCIM, SIOR Principal, Industrial Properties +1 520 546 2714 brodgers@picor.com

PICOR Commercial Real Estate Services

5151 E Broadway Blvd, Suite 115

Tucson, Arizona 85712

phone: +1 520 748 7100

SINGLE TENANT INVESTMENT

19,231 SF – Triple Net Leased Investment

Sale Price: $2,250,000

mailto:rglaser@picor.commailto:rglaser@picor.com

City, State

FOR SALE / INVESTMENT OPPORTUNITY

3481 East Michigan Street Tucson, Arizona

For more information, contact:

picor.com

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

Rent Roll

FINANCIAL INFORMATION

Robert Glaser, CCIM, SIOR

Principal, Industrial Properties

+1 520 546 2707

rglaser@picor.com

Brandon Rodgers, CCIM, SIOR

Principal, Industrial Properties

+1 520 546 2714

brodgers@picor.com

PICOR Commercial Real Estate Services

5151 E Broadway Blvd, Suite 115

Tucson, Arizona 85712

phone: +1 520 748 7100

Since 1993, Paragon has committed to developing innovative new solutions to fill life support and thermal control technology gaps in the ever evolving space, defense, and commercial marketplaces.

Paragon has worked on every major human space flight program since 1993 and its hardware has flown on NASA spacecraft (Orion, Space Shuttle, and the International Space Station), foreign spacecraft (Soyuz and Mir) as well as commercial spacecraft.

As a leading technology and aerospace company, the majority of Paragon’s business is with U.S. federal government agencies, such as NASA, Department of Defense, SOCOM, United States Navy, and Naval Sea Systems Command, as well as major primes including Boeing, Lockheed Martin, Raytheon, and Sierra Nevada Corporation.

The company is profitable, has a good balance sheet, and is interested in a long term tenancy in this building. Financials are available to serious investment groups who execute a confidentiality agreement.

Visit https://paragonsdc.com/ for additional information on the company.

Lease Term* Rent/SF Monthly Rent Annual Rent

Year 1 $0.700 $13,461.70 $161,540

Year 2 $0.718 $13,798.24 $165,579

Year 3 $0.735 $14,143.20 $169,718

Year 4 $0.754 $14,496.78 $173,961

Year 5 $0.773 $14,859.20 $178,310

Year 6 $0.792 $15,230.68 $182,768

Year 7 $0.812 $15,611.44 $187,337

Annual NOI $161,540

Tenant Overview

* Lease commencement upon close of escrow.

mailto:first.lastname@picor.commailto:rglaser@picor.comhttps://www.paragonsdc.com/

City, State

FOR SALE / INVESTMENT OPPORTUNITY

3481 East Michigan Street Tucson, Arizona

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

PROPERTY DESCRIPTION Building Specifications:

Site Features:

Size: 19,231 SF

Construction: 8” x 8” split-face block and light steel

Roof: Low-slope, built-up system over steel truss supports

Fire Protection: Sprinklered

Heating and Cooling: 100% climate controlled

Power: Minimum 1,200 amp, 3-phase

Year Built: 1990 and 2013 (3,000 SF addition)

Loading: Grade (2)

Clear Heights: 20’ or higher in R&D portions

Mezzanine:

1,222 SF fully enclosed, high security

storage with access via lift plus 1,350 SF

open mezzanine.

Site Size: 1.35 acres

Fencing: New

Parking: 64 spaces

Zoning: CI-2 (Pima County)

City, State

FOR SALE / INVESTMENT OPPORTUNITY

3481 East Michigan Street Tucson, Arizona

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

INTERIOR PHOTOS

City, State

FOR SALE / INVESTMENT OPPORTUNITY

3481 East Michigan Street Tucson, Arizona

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

LAB/WAREHOUSE PHOTOS

City, State

FOR SALE / INVESTMENT OPPORTUNITY

3481 East Michigan Street Tucson, Arizona

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

AERIAL PHOTOS AJO WAY

City, State

FOR SALE / INVESTMENT OPPORTUNITY

3481 East Michigan Street Tucson, Arizona

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

FLOOR PLANS

City, State

FOR SALE / INVESTMENT OPPORTUNITY

3481 East Michigan Street Tucson, Arizona

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

SITE PLAN

City, State

FOR SALE / INVESTMENT OPPORTUNITY

3481 East Michigan Street Tucson, Arizona

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

LOCATION MAP

City, State

FOR SALE / INVESTMENT OPPORTUNITY

3481 East Michigan Street Tucson, Arizona

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

Population and Demographics (Source: Applied Geographic Solutions, 4/2019)

Tucson is the second-largest city in Arizona with a population of

540,357. It is the largest city in Pima County, which totals 1.029 million

residents. Located 60 miles from the U.S.-Mexico border, Tucson is

expected to grow to 568,590 residents by 2024 (1.083 million in Pima

County).

• Median age is 33.5 years (2019)

• Median household income is $43,658 (2019)

• Median household income projection is $50,886 (2024)

Economic Development

Innovation is a key word when it comes to Tucson economic

development. Forbes has called it one of America’s Most Innovative

Cities. Tucson has the highest concentration of startups of any U.S.

city its size and is ranked as a Top Five City for Entrepreneurs by

Entrepreneur Magazine. Metro Tucson is a hub for optics and science.

Biotech and other science clusters flourish in the UA Tech Park,

BioPark and Innovation Park. Tourism is a key economic driver as well.

Tucson is known for its world-class health spas, more than 20 golf

courses, and numerous natural attractions, museums, missions and

cultural history.

Greater Tucson was recently

named the third fastest-

growing metro by Bloomberg.

1 out of 3

3rd Largest The forecasted economic

impact of recent employment

announcements.

$3 Billion

States in the U.S.

experiencing year-over-

year construction job

growth.

MAJOR TUCSON EMPLOYERS

Agero ManTech

Amazon MineSight

Arizona Community Physicians Modular

Asarco Group Mexico Northrop Grumman

Ascent Aviation Services The Offshore Group

Banner Health PSE Archery

CAID Raytheon

Carondolet Redar

Caterpillar, Inc. SAIC

Cox Communications Sargent Aerospace & Defense

CyraCom Sundt

Freeport-McMoran Copper & Gold Texas Instruments

General Dynamics Tucson Medical Center

HomeGoods Union Pacific

Honeywell Universal Avionics Systems Corp.

IBM University of Arizona

Intuit Walbro

TUCSON, ARIZONA OVERVIEW