Real Estate Daily News
BP Bridges Partners, an affiliate of Bourn Companies, closed on 112 acres of land at the Bridges for $18 million ($160,650 per acre) and began to move dirt the same week for a new 200,000-square foot multi-level office building on 20-acres near 36th Street and MLK Jr. Way, at the The Bridges planned master site in Tucson. The seller was U.S. Home Corporation.
As a condition of sale, the developer had to rezone for commercial development approximately 112 acres at The Bridges. GEICO, the second-largest private passenger automobile insurance company in the U.S., will be the first corporate employer to locate in the development. With this move, GEICO plans to add 700 jobs in Tucson over time.
