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Presstek Inks $8.7M Sale-Leaseback in Marana

Lasertel Subsidiary to Continue Occupancy on 10-Year Deal
August 14, 2008
Presstek sold its 68,304-square-foot industrial facility at 7775 N. Casa Grande Highway in Marana, AZ, to the investment group 2030 East LLC, a company formed by Eddy Chernecki of Tucson, for $8.75 million, or about $128 per square foot

Lasertel, a Presstek subsidiary that uses the building for semiconductor laser manufacturing, will continue occupying 37,312 square feet under a 10-year leaseback. The space it will retain includes a clean room, offices on two stories and about 20,000 square feet of manufacturing space.

The buyer will market the remainder of the building for lease.

The deal also included seven acres of excess land, which the new owner will hold for future development.

Rob Fischrup of VAST Commercial Real Estate in Tucson represented the buyer. Tim Healy, Bill Divito and Howard Kong of CB Richard Ellis in Tucson represented Presstek and will handle leasing for the buyer.

For additional information on this transaction, please refer to CoStar COMPS #1559286.

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