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Infamous Tucson Highrise Sells for $3.8M
The Pioneer Building, one of Tucson’s most notorious structures, was sold at auction for $3.8 or $27.50 a square foot. Holualoa Arizona, sold it, and Pioneer Tucson, a California investor, bought it. The starting bid was $1.2 million. Ten-X, the auction broker, handled the transaction.
The 11-story office building, once a hotel, was the subject of Tucson’s deadliest fires. During Christmas week of 1970, 29 guests died.
The building was converted to offices after the fire. It does not have a historical designation because of multiple renovations, including restorations to restore the dining room to its original state in 2017. Buyers could rezone the more than 100,000-square-foot building and approximately half-acre site for office, commercial or residential uses.
The building is on .46 acres, has an on-site manager and building engineer, two free common area conference rooms and two restaurants in the lobby.
- ◦Sale/Acquisition