Monday, June 25, 2018

Real Estate Daily News

Cushman & Wakefield files for IPO

CHICAGO, ILL. — Cushman & Wakefield has filed registration with the SEC for an initial public offering (IPO). The number of shares to be offered and the price range for the proposed offering have yet to be determined. Chicago-based Cushman & Wakefield is among the largest real estate services firms...

Damages to Student Housing Construction Site Rises to $8-$10 Million

TUCSON, ARIZONA -- UPDATE to the fire at student housing construction site this week:  Tucson Fire Investigators worked with fellow public safety partners this week to determine the origin and a cause for Tuesday's early morning multiple alarm fire at the student housing construction site The Mark at Tucson...

Real Estate Daily News

Fort Lowell Realty & Property Management Exercises Option on Tucson Building

TUCSON, ARIZONA -- Fort Lowell Realty & Property Management, Inc. (James Collopy, director) purchased an office building located at 2026 E. Prince Rd. in Tucson, from Prince Road Professional Plaza, LLC (Ione Jitare, member) for $432,099 ($130 PSF) Tucson-based Fort Lowell Realty & Property Management was a tenant for two-years...

The Shoppes at Rogers Ranch Shopping Center in Phoenix Sell for...

PHOENIX, Arizona – CBRE has completed the sale of a 100 percent occupied shopping center located at the northeast corner of 51st Avenue and Baseline Road in Laveen, an urban village located within metro Phoenix. The nearly 34,575-square-foot retail property has a complimentary mix of tenants, including Jimmy John’s,...

Real Estate Daily News

Starbucks Campbell Corridor Grand Opening is a Big Deal for Tucson...

TUCSON, ARIZONA – Starbucks at 2807 N Campbell, the northwest corner of Campbell & Glenn, celebrated its grand opening Thursday. The opening was a special occasion for Developer / Landlord, Jason Wong, CCIM, of Crestline Properties who invited City staff, contractors, architects, engineers, and friends involved in the project to...

The Trinity Mixed-Use Project Ready To Begin Construction this Fall

TUCSON, ARIZONA – A joint venture between R+R Development, LLC (Randi Dorman and Rob Paulus, members) and Bourn Properties, LLC (Don Bourn, manager), Trinity Project Investors LLC, closed on the first takedown from Trinity Presbyterian Church of Tucson for $700,000 ($21 PSF). The 33,198-square-foot lot is located along University...

Major Road Projects move forward for SR 189, I-17 and SR...

PHOENIX, Arizona  – A major freight corridor in southern Arizona that moves trucks to and from Mexico for produce and other goods will undergo a full build-out of improvements over the next few years now that the State Transportation Board formally approved the funding for the project. The board approved...

Two Alarm Fire at The Mark at Tucson Student Housing Construction...

TUCSON, Arizona -- Tuesday morning's fire at The Mark at Tucson is estimated to have caused in excess of $1 million in damage. The fire destroyed major portions of the multi-story student housing building scheduled to open fall 2019 while still under construction, as well as significantly damaging/destroying construction...

Ally Bluechel joins NAI Horizon as Marketing Specialist

PHOENIX, ARIZONA – NAI Horizon, having just celebrated its 25th anniversary in the Valley in 2017, continues its growth in Arizona with the hiring of Ally Bluechel as Marketing Specialist. Bluechel will provide support to NAI Horizon brokerage teams by developing materials for marketing proposals. She will also create and...

ESL Completes Acquisition of Universal Avionics HQ in Tucson for $21.3...

TUCSON, Arizona -- Universal Avionics Systems Corporation (“UA”) completed its acquisition by Elbit Systems Ltd. (NASDAQ and TASE: ESLT) with the $21.3 million (133 PSF) sale of its headquarters at 3260 E Universal Way in Tucson. As part of the $120 million acquisition of the assets and operations of...

Raytheon receives U.S. Patent No. 10,000,000

Laser radar data system is latest innovation in company's near century-long history WASHINGTON, DC -- The U.S. government has granted the 10 millionth patent in the nation's history to Raytheon (NYSE: RTN). The patent covers a system for obtaining real-time readings on speed and distance from the data stream created by...

Rio Nuevo: TCC Improvements Under Discussion Include Arena Football

TUCSON, Arizona – A recent article on TIBO website is reporting Rio Nuevo is currently working on landing an Arena Football League (AFL) expansion team that would play at the Tucson Convention Center in Downtown Tucson.  At last month’s Rio Nuevo meeting, the board approved up to $400,000 in additions that...

Shenkarow’s 20-Story Speedway and Campbell Gateway Gets Nod of Approval

TUCSON, Arizona – Tuesday evening, the Tucson City Council approved the development of a 20-story mixed use tower at the northwest corner of Speedway and Campbell Avenue to be  developed by Richard Shenkarow and partners. The building could be completed by 2022 at an estimated cost of about $300...

Iconic Donut Shop, Le Cave Opening Across from Police Substation

TUCSON, ARIZONA -- Empty Box, LLC purchased a 2,515-square-foot former Jack in the Box, located southeast of Alvernon Way at 3950 E. 22nd St. in Tucson from an affiliate of 4-D Properties, 3950 E. 22nd Street, LLC for $637,500 ($253 PSF). Naomi and Chris Pershing purchased the Le Cave’s Bakery...

Texas Roadhouse, Starbucks and Iconic Restaurant Brand Sign Leases at...

More Retailers to be Announced Soon at Scottsdale’s Latest Shopping Destination Scottsdale, Arizona -- Starbucks, Texas Roadhouse and an additional, iconic restaurant brand have all signed leases this month to open restaurants at The Block at Pima Center, paving the way for vertical construction to begin.  Further lease announcements are...

O’Reilly Auto Parts Coming to Shoppes at Continental Ranch in Marana

Marana, Arizona -- O’Reilly Auto Enterprises, LLC, dba O’Reilly Auto Parts, purchased a 44,431-square-foot PAD located at 9090 N. Silverbell Road, Marana, AZ for $650,000 ($14.63 PSF). The PAD is in the Safeway anchored shopping center known as Shoppes at Continental Ranch at the southeast corner of Twin Peaks...