Monday, April 23, 2018

Real Estate Daily News

Three New Multifamily Mid Rise Projects Planned near Downtown Tucson

TUCSON, Arizona -- There are three multifamily projects in various stages of development that could bring as many as 1,000 new housing units near downtown Tucson. On Tuesday, the Tucson City Council gave its nod of approval for PAD rezoning of 213 N Fourth Avenue, to replace Maloney’s Tavern and...

Springstone Purchases 6.59 Acres in Gilbert for Future Behavioral Health Facility

Behavioral Health Company to Build Second Arizona Facility in Gilbert Medical Corridor Phoenix, Arizona– Kentucky-based Springstone will develop its second Arizona behavioral health facility on 6.59 acres located near the Loop 202 and Val Vista Drive in Gilbert. Springstone purchased the property from Willis & Melrose, LLC.  The land is situated...

Real Estate Daily News

Developmental testing completed on Small Diameter Bomb II

New weapon moves to operational testing prior to fielding TUCSON, Arizona -- Raytheon Company (NYSE: RTN) has completed developmental testing on the Small Diameter Bomb II, a key step toward bringing this new capability to fighter pilots. Government confidence testing, a prerequisite for operational testing, is scheduled to be completed...

Veteran Industrial/Office Services Group Joins Colliers International in Greater Phoenix

Halley/Gleason/Marks Trio Brings More than 60 Years of Experience to Firm Phoenix, Arizona –  The commercial real estate brokerage team of Brian Gleason, SIOR, Bonnie C. Halley, CCIM and Melissa Marks has joined the industrial/office services group at Colliers International in Greater Phoenix. “This outstanding team will expand our company’s client...

Real Estate Daily News

Phoenix Construction Costs Ranking

International property and construction consultancy firm Rider Levett Bucknall (RLB) has released its latest quarterly construction cost report for North America with data current to January 1, 2018 gathered from 14 cities across the United States and Canada, including Phoenix. Julian Anderson, FRICS FAACE, President of RLB North America and...

Marcus & Millichap Arranges sale of Santuario a 70-Unit Apartment Building...

TUCSON, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Santuario, a 70-unit apartment property located in Tucson, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix and...

Camelback Rd. & Central Ave. Office Property Sells for $14 Million

Cushman & Wakefield Negotiates Sale to Six Tenant-in-Common Investors PHOENIX, Arizona – Cushman & Wakefield announced that six tenant-in-common (TIC) investors purchased One Camelback, located at 1 E. Camelback Road in Phoenix, from One Camelback Inc. The six TIC companies – CD Camelback LLC, Randhurst Camelback LLC, KOT Camelback LLC,...

ABI Facilitates Another Tucson Deal for $2.6M, 60-Unit Apartment Complex

TUCSON, ARIZONA -- ABI Multifamily is pleased to announce the $2.6 million / $43,333 per unit sale of the Skyline Park Apartments located in Tucson, Arizona.  Completed in 1985, Skyline Park is a two story, garden-style apartment community that features 60 total units in 3 rental buildings, constructed of...

TAR: Home Sales Volume Pushed Up 33.47% in March

TUCSON, ARIZONA -- Tucson Association of Realtors (TAR) has released stats for March 2018. The average sales price decreased 1.04% this month to $246,514 from $249.095 in February, while total home sales pushed up 33.47% to $360 million from last month’s number of $270 million, per the Tucson Association...

Phoenix Industrial Vacancy Falls to 7.3%, new construction will ease supply...

PHOENIX, ARIZONA – JLL is reporting vacancy in the Phoenix industrial market fell to 7.3 percent, now just 100 basis points above its lowest point. With only 817,712-square-feet of new deliveries and 1.3 million square feet of net absorption, vacancy inched down a mere 10 basis points. Despite a...

Housing Center forum offers resources for former inmates, potential landlords

PIMA COUNTY -- Fifty years ago this week President Lyndon Johnson signed the Fair Housing Act into law. To recognize that achievement, the Pima County Housing Center, along with community partners, will host a forum geared for people re-entering society following incarceration and for property owners, managers and non-profit...

The Muller Company Phoenix office earns AMO designation

PHOENIX, ARIZ. – The Muller Company, a privately held real-estate investment, development and management firm, has earned the Accredited Management Organization (AMO) designation from the Institute of Real Estate Management (IREM). Jenny Blanchart, CPM, LEED GA, Director of Property Management for The Muller Company, will be formally awarded the AMO...

Tucson Lease Report April 9-13, 2018

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from April 9-13, 2018. INDUSTRIAL – 230 E. 27th ST., TUCSON Rosemont Copper Company leased 5,376-square-feet at 230 E. 27th St., Suite 101 in Tucson, from Tin Cup Properties, LLC.  Ron Zimmerman, Commercial Specialist...

ULI program to explore creating a new identity for the mall

PHOENIX, ARIZ. – Changes in consumer preferences, population dynamics, and real estate requirements have created opportunities for mall owners to respond with new design concepts, retail formats, public space, and amenities. Re-positioning and adaptive reuse of space, enhancement of experiences and entertainment, and intensification of uses can be witnessed around...

Sediment removal work in Alamo Wash begins April 16

PIMA COUNTY -- The Pima County Regional Flood Control District on April 16 will begin removing approximately 5,000 cubic yards of sediment in the Alamo Wash where it meets Rillito Creek just east of Swan Road. Work will take place Monday through Friday from 6:30 a.m. to 5 p.m....

Sun Mechanical HQ Sells for $3.65 Million in Tucson

TUCSON, Arizona -- The White Ohana LLC. an affiliate of Finisterra Corporation of Costa Mesa, CA purchased the 32,391-square-foot building at 3951 E. Columbia St. in Tucson for $3.65 million ($113 PSF). The property was built in 1994 in the Alvernon Rail Center on 4.26-acres, located southeast of Ajo and...