The Pioneer Building, one of the first high-rise buildings in Tucson, will go to auction next month.
The starting bid for the 11-story building, currently owned by Holualoa Companies, is $1.2M.
The Pioneer Building, located at 100 N. Stone Ave., was constructed in 1929 as the Pioneer Hotel. It was later converted to office space and is currently approximately 50% occupied, according to auction documents.
Auction Broker Ten-X is handling all the auction marketing and details.
Because of multiple renovations, including restorations after a fire in 1970 and efforts to restore the dining room to its original state in 2017, the building does not have a historical designation. Buyers could be able to rezone the more than 100KSF building and approximately half-acre site for office, commercial or residential uses. A new owner could make changes “without concern of preserving architectural characteristics.”
The auction is scheduled to run from May 14-16. (Source)