Picor Commercial Real Estate is moving into the former Tucson College space at 5151 E. Broadway. It has outgrown the space at Speedway and Wilmot (the upside-down glass building) where it has been located for 20 years.

Ron Medvescek / Arizona Daily Star

Realtors at Picor Commercial Real Estate have put themselves in their clients’ shoes as they prepare to move out of the glass building at Speedway and Wilmot Road, where the company has been for 20 years.

“This building is really iconic and people know where it is,” Picor President Barbi Reuter said. “But it’s time for a new generation for our firm.”

The uptick in Tucson’s economy and investor activity has resulted in Picor adding brokers.

“The move and expansion locally is really because of dynamics in the market right now,” said Picor office specialist Rick Kleiner. “We’re undertaking it with the hope that Tucson continues its growth.”

Picor has signed a 10-year lease for 10,597 square feet in the former Tucson College building at 5151 E. Broadway, at the corner of Rosemont Boulevard. Its current space is 7,500 square feet.

Reuter said the new building is largely open, so Picor will build-to-suit the interior with flexible workspace and a conference room. She expects to move in by the first of the year. The firm has 17 brokers and expects to add three or four more this year.

5151 E. Broadway is Tucson’s largest office building with 261,000 square feet and 17 stories.

Kleiner and colleague Tom Nieman represented both Picor and the building owner, Kent Circle Partners, in the lease.

Other recent commercial transactions include:

  • HZ Props RE Ltd. purchased 0.64 acres at the northeast corner of Speedway and Stone Avenue from Speedway Stone Associates LLC to build a
  • Popeyes
  • Louisiana Kitchen. Rob Tomlinson, with Picor, represented the seller, and Dave Cheatham and Darren Pitts, with Velocity Retail Group LLC, represented the buyer in the $800,000 sale.
  • El Tortillero LLC bought a 20,620-square-foot industrial building at 4617 S. Third Ave. from JPAC LLC for $760,000. Brandon Rodgers, with Picor, represented the seller, and Juan Teran, with Realty Executives Tucson Elite, represented the buyer.
  • HLH Enterprise LLC bought a 15,489-square-foot industrial facility at 4617 S. Contractors Way from Scaramella Family Revocable Trust for $750,000. Picor’s Rob Glaser and Paul Hooker represented the seller, and Peter Canacakos, with Long Realty Co., represented the buyer.
  • SCM 10X Tucson 6565 LLC bought a 4,479-square-foot retail building at 6565 E. Grant Road from Chemnic LLC for $710,000. Aaron LaPrise, with Picor, represented the buyer, and Mark Irvin, with Mark Irvin Commercial Real Estate Services LLC, represented the seller.
  • Margaret Lannon LLC bought an 8,380-square-foot office building at 4625 E. Fort Lowell Road from Almonte Associates LLC for $625,000. Rick Kleiner and Isaac Figueroa, with Picor, represented the seller, and Gary Lovelace, with Spectrum Real Estate Services, represented the buyer.
  • Euclid 35 LLC bought a 15-unit apartment complex at 50-64 N. Euclid Ave. from Andrew C. Pongratz for $585,000. Allan Mendelsberg and Daniel Leibsohn, with Picor, represented both parties.
  • Jaime and Maria Reyes bought the former Disabled American Veterans building at 3455-3551 S. Wilmot Road for $625,000. The building is approximately 13,400 square feet on 2.47 acres and will be called The Ambassador Event Center. It will be used for private parties and special events. Ian Stuart and Bruce Suppes, of CBRE, represented the buyer, and CBRE’s Pete Villaescusa and Jesse Peron represented the seller, Disabled American Veterans Dept.
  • Saguaro Aquatics bought a 3,360-square-foot building for a swimming-instruction facility at 5302 E. Pima St. for $225,000. Ian Stuart, of CBRE, represented the buyer, and CBRE’s Michael Laatsch represented the seller, Old Pueblo Industrial Products.

Information for Tucson Real Estate is compiled from records at the Pima County Recorder’s Office and from brokers. Send information to Gabriela Rico at grico@tucson.com