Friday, February 24, 2017

1st Quarter Sales

Twin Peak Plaza Building in Marana Trades for $2 Million

TUCSON, Arizona -- Twin Peaks Plaza at 7555 West Twin Peaks Road in Marana sold for $2 million ($234 PSF). Situated at the new Twin Peaks and I-10 interchange in the Northwest submarket, the buyer traded up in a 1031 exchange. The 8,540-square-foot building is a portion of Twin Peaks...

Tucson Metro New Construction on Land Sales Totaling $3.75 Million

TUCSON, Arizona – Schoolhouse Oro Valley LLC of Queen Creek, AZ (Glenn L Way, manager) purchased approximately 8.6-acres at the southwest corner of Sunkist Road and La Canada Dr. in Oro Valley, from the DESCO Group of St. Louis for $1.5 million ($4 PSF). The property will be used for...

Tractor Supply Expands with 4th Store in Tucson metro

TUCSON, Arizona -- Tucson South Development Group LLC, an affiliate of Long Development Corporation (David Long, president) has purchased 5.34-acres located south of the southeast corner of Indian Agency Rd and Valencia Rd within the Midvale Park Shopping Center in Tucson, Arizona for $1.4 million ($6 PSF) for the...

Tucson Retail Sales – Hi Falutin, Boondocks, Window World Sold

TUCSON, Arizona -- Oakmark Properties of Scottsdale purchased the property at 6780 N Oracle Road in Tucson from Thomas and Ines Leonard  of Tubac for $850,000 ($258 PSF).  The investor is an experienced restaurant investor that owns approximately 25 leased properties. The property is leased to the popular Hi Falutin Rapid...

Two Tucson Industrial Investment Sell for Over $4.2 Million

TUCSON, Arizona -- Cushman & Wakefield | PICOR Industrial Specialist, Brandon Rodgers, general partner in two buying entities recently purchased two industrial investment properties. Friebus Investors, LLC purchased a 45,750-square foot industrial building located at 2301/2341 S. Friebus Ave. in Tucson, from Oak Properties for $1.75 million ($38.25 PSF). Built in...

HSL Buys The Enclave at the Foothills for $21.8 Million for...

TUCSON, Arizona -- Berkadia completed the recent sale of The Enclave at the Foothills, a 300-unit multifamily property in Tucson, Arizona. Representing the seller, Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of the Tucson office completed the $21.8 million sale ($72,666 per unit). The deal closed on...

Copart Tucson Buys Salvage Vehicle Auction Facility for $2.8 Million

TUCSON, Arizona – Dallas-based Copart, Inc. (NASDAQ: CPRT) acquired the 6,200-square-foot building and 4.6-acre salvage vehicle sales facility at 5600 South Arcadia Avenue in Tucson, Arizona for $2.8 million where they have leased for several years from DP Auto Salvage of Tucson (David Parri, CEO). Copart, founded in 1982, provides...

Equilibrium Acquires Cordova Village in Tucson for $8 Million

TUCSON, Arizona -- An affiliate of Equilibrium Fund II purchased Cordova Village Apartments for $8 million ($25,157 per unit), a community located at 2020 S Columbus in the eastern submarket of Tucson, Arizona.  The 147,000-square-foot complex in 18 buildings has 318-units on 9-acres and was built in two phases...

Rio West Buys Building for CODAC’s Relocation to Fort Lowell Office...

TUCSON, Arizona -- CODAC Behavioral Health Services will be relocating from 3100 N 1st Avenue in Tucson to Fort Lowell Office Plaza at 360-380 E Fort Lowell Road in Tucson. CODAC sold the building at 3100 N 1st Avenue for $1 million ($53 PSF). The 18,729-square-foot building on 2.02 acres...

North First Medical Plaza Central Tucson Sells for $1.95 Million

TUCSON Arizona -- North First Medical Plaza a multitenant complex, located at 4701-4747 North 1st Avenue in Tucson sold for $1.95 million ($75 PSF). The seller, Wetmore Land Corporation of Tucson (Gerald & Phyllis Altschuler) was the developer and builder of the 18 office condominiums that it self-managed and...

The Peaks at Redington Apartments in Tucson Sell for $14.5 Million

TUCSON, Arizona – A Scottsdale-based company recently purchased the Peaks at Redington, a multifamily property in Tucson, Arizona. Senior Managing Art Wadlund and Associate Director Clint Wadlund completed the $14.5 million ($48,173 per unit) sale, which closed on January 19. Berkadia represented the seller, PEM Investments, based in Scottsdale, Arizona....

Colliers Sells Two Tucson Multifamily Communities for $13+ Million

"Multifamily buyers beginning to move their money from the Phoenix market to Tucson, capitalizing on higher cap rates and lower per unit acquisition costs" Tucson, Arizona --  Colliers International in Greater Phoenix has negotiated the sale of two Tucson apartment complexes in transactions totaling $13+ million.  The properties were...