July 8, 2019
MBARK Global acquired 4690 N. Oracle Rd. in Tucson, AZ. The 211,152-square-foot building is on a long-term lease to Comcast, and the New York buyer paid seller Oracle Realty Associates of Manhattan LLC $27.1 million for ownership rights.
The asset is in Tucson’s Limberlost neighborhood, and is situated across from the Tucson Mall. According to MBARK’s Daniel Gryfe, who spearheaded the transaction, the asset’s long-term value, and Comcast’s business strength, were major factors in the acquisition.
“This investment for MBARK Global marks the successful continuation of our acquisition strategy,” Gryfe said. “This office space is located within one of Arizona’s highest growth areas, and our proven financial model outperforms the corporate bond market while utilizing real estate tax benefits.”
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