FOR IMMEDIATE RELEASE
Harsch Investment Properties Builds Portfolio in Arizona, Acquires Two Properties Totaling 190,000 Sq. Ft. of Office and Flex-Industrial Space in Tucson
TUCSON, AZ. – Oct. 14, 2015 – Harsch Investment Properties, a Portland-based real estate investment, development and management company, has acquired a 190,000-square-foot office and flex-industrial portfolio in Tucson, Arizona. The acquisition consists of the 60,000-square-foot Butterfield Corporate Plaza, a high-end office/R&D flex property, and the Tucson Airport Center, a 130,000-square-foot project with office and industrial tenants. Both properties are in fabulous locations, in close proximity to the Tucson International Airport and Interstate 10.
“Both Butterfield Corporate Plaza and Tucson Airport Center were extremely attractive to us as high-quality and ideally located properties, offering top-notch space options for the industrial and office tenants we have so much experience working with,” said Harsch Investment Properties Southwest Regional Manager, Bill Rodewald. “Our motivation to acquire these properties is to provide the highest level of service and best real estate experience that we can for our current and future tenants. These Tucson properties fit our business model. We are excited about an expanded presence in Arizona’s fast-growing Tucson market and look forward to working with our tenants and the community.”
Jordan D. Schnitzer, President of Harsch Investment Properties, said, “Our company has owned property in Arizona since 1958. For many years we have followed the real estate market in Tucson and felt now is the appropriate time to expand our portfolio to include these Tucson properties. With the addition of these properties, we have acquired approximately 2 million square feet of flex-industrial projects during the last twelve months, and that brings our flex-industrial portfolio in excess of 18 million square feet.”
The Butterfield Corporate Plaza is 100 percent occupied by four tenants, three of which are publically traded companies and the fourth being a regional 100-year-old private company. The Tucson Airport Center is a traditional business park providing quality office and industrial spaces. The property is located a quarter of a mile from the Tucson International Airport, which is one of the reasons why the property has continued to stay fully occupied for many years.
About Harsch Investment Properties
Harsch Investment Properties is a privately-held real estate company that acquires, manages and develops properties for its own portfolio. Founded in 1950, the company owns and operates 22 million square feet of office, multi-tenant industrial, multi-family and retail properties in six western states. Headquartered in Portland, Oregon, Harsch has regional offices in Seattle, Portland, the San Francisco Bay Area, Sacramento, Las Vegas, and San Diego. More information can be found by going to http://www.harsch.com.
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Harsch Investment Properties