This article has been archived, please login for access or subscribe now for a free trial.

The following sales were compiled from public records during Q2 2013 in the Central submarket. They have not been confirmed and are published for informational purposes only. See also https://realestatedaily-news.com/multifamily-sales-by-tucson-submarkets/

CENTRAL SUBMARKET
10-Units at 1124-1142 N Tucson Blvd, Tucson, AZ 85719 sold for[mepr-show rules=”58038″]$355,000 ($35,500 per unit) located SE of Helen Street & Tucson Blvd in Sam Hughes. The seller was Nathan Patrick & Leighton Ginn of Tucson and the investor was John & Marcia Orcutt of the Orcutt Family Trust of Studio City, CA. The 10-units are in a 4,880 sq. ft. building (built 1978) on .26 acre. Sale date was 5/31/2013.

Fourplex at 1630 E Adelaide Drive, Tucson, AZ 85719 sold for $325,000 ($81,250 per unit). The seller was the Gary Lee Fugua Trust of Portland, OR, and the investor Russell & Caroline Duff of Tucson. The property is 3,689 sq. ft. (built 1998) on .44 acre. The sale date was 4/1/2013.

5-Units at 2701-2709 E Sequoyah, Tucson, AZ 85716 sold for $275,000 ($55,000 per unit). The seller was William and Karen Meade for the Meade Family Trust of Tucson and the investor was Joan Fitz Simons of San Diego, CA. The units are in three buildings, totaling 3,376 sq. ft. (built 1956) on .46 acre. Sale date was 6/14/2013.

Triplex at 2633 – 2643 N Dodge Blvd., Tucson, AZ 85716 sold for $245,000 ($81,666 per unit). Valeria Ann Petchel of Garnet Valley, PA was the seller and the investor was Keith Pieper of Maple Plain, MN. The 2,500 sq. ft. building (built 1979) is on .21 acres. Sale date was 5/24/2013.

Duplex at 1143-1145 N Dodge Blvd., Tucson, AZ 85716 sold for $148,000 ($74,000 per unit). The seller was Nam and Saundra Van of Tucson and the investor, Watershed Management Group, Inc. (Kieran Sikdar, Chairman). The property is 1,578 sq. ft. (built 1971) on .18 acre. Sale date was 4/1/2013.

12-Units at 3127 – 3145 N Fontana Avenue, Tucson, AZ 85705 sold for 236,250 ($19,688 per unit). The seller was Tritex Real Estate Advisors c/o Trimont Real Estate Advisors in Atlanta, GA. and the investor, KMS Enterprises, LLC of Tucson (Kyle Mokhtarian & Matthew Skidmore, Members). The buyers are licensed real estate agents. The 6,746 building (eff. year built 1953) on .83 acre. Sale date was 6/17/2013.

Duplex at 547 E 4th Street, Tucson, AZ 85705 sold for $230,000 ($115,000 per unit). The seller was Irene Kondor of Santa Barbara, CA and the investor was Jean-Marc Cloney of Kailua, HI. The 2,046 sq. ft. building (built 1916) in West University neighborhood on .19 acre. Sale date was 6/25/2013.

Triplex at 1743-1747 N Palo Verde Blvd., Tucson, AZ 85716 sold for $210,000 ($70,000 per unit). The seller was Lori Kraft of Highlands Ranch, CO and the investor was Ye Guo of Tucson. The property is 2,692 sq. ft. (built 1981) on .28 acre. The sale date was 5/16/2013.

3-Units, a duplex and SFR at 734 E Pastime Rd, Tucson AZ 85719 sold for $170,000 ($56,666 per unit). The seller was William R & Carmen V Peak of San Diego, CA and the investor was Doy & Kendra Citron of Tucson. The two buildings total 2,674 sq. ft. (eff. year built 1962) with the duplex built 1962 and an SFR built 1942 on .24 acre. Sale date was 4/29/2013.

4-Units at 2302-2308 N 10th Avenue, Tucson, AZ 85705 sold for $157,000 ($39,250 per unit). The property was bank owned when it sold. Seller was Federal National Mortgage Association of Dallas, TX and the investor was Mohammad Atyani of Tucson. The 3,744 sq. ft. building (built 1963) on .17 acre. Sale date was 5/23/2013.

4-Units at 2552-2558 E Spring Street, Tucson, AZ 85716 sold for $155,000 ($38,750 per unit). The seller was Mindy S. Sonen of San Diego, CA and the investor, MBHE I, LLC of Tucson and affiliate of MBHE Holdings (Layne F Bogulas, Manger). The 1,870 sq. ft. building (built 1961) on .25 acre. Sale date was 4/5/2013.

Triplex at 3114-3118 N Winstel Blvd., Tucson, AZ 85716 sold for $145,000 ($48,333 per unit). The seller was Timothy and Lynette Donahoe of Payson, AZ and the investor was Tarek Khaled of Staten Island, NY. The 2,021 sq. ft. building (built 1984) on .21 acre. Sale date was 5/15/2013.

Triples at 2849 -2853 N Tyndall Ave, Tucson, AZ 85719 sold for $132,000 ($44,000 per unit). The seller was the Marionbetty K Klein Trust of Tucson and the investor was Dau Van Dao of Tucson. The 2,338 sq. ft. building (built 1958) on .21 acre. Sale date was 4/25/2013.

Duplex at 450 E Navajo Rd, Tucson, AZ 85705 sold for $120,000 ($60,000 per unit). The seller was John T and Margaret E Sandoval of Tucson and the investor, Raquel Rodes and Marina Escobar of Lake Forest, CA. The 3,245 sq. ft. building (built 1940) on .41 acre. Sale date was 6/11/2013.

Duplex at 1022 E Weymouth Street, Tucson, AZ 85719 sold for $120,000 ($60,000 per unit). The seller was Lynette Chapa of Tucson and the investors were Thomas and Rebecca B. Ho. The 1,747 sq. ft. building (built 1962) on .18 acre. Sale date was 5/7/2013.

Duplex at 44-46 W Elm Street, Tucson, AZ 85705 sold for $108,000 ($54,000 per unit). The seller was ST and Sons, LLC of Tucson (Salah M Sami, Managing Member) and the investor was Alfred F Mitchell of Tucson. The 1,872 sq. ft. building (built 1979) on .16 acre. Sale date was 5/30/2013.

Duplex at 3327-3329 E Blacklidge Dr., Tucson, AZ 85716 sold for $100,000 ($50,000 per unit). The seller was The Veragene Hardy Trust of El Cerrito, CA and the investor was Catalina Desert Properties, LLC of San Diego, CA. The 1,560 sq. ft. building (built 1978) on .15 acre. Sale date was 6/5/2013.

Duplex at 726 S 7th Avenue, Tucson, AZ 85701 sold for $90,000 ($45,000 per unit). The seller was Jose and Emma Lopez of Tucson, and the investor was Linoa, LLC of Tucson (David Lader, Principal). The property is 1,053 sq. ft. (built 1903) on .13 acre. Sale date was 6/25/2013.

Duplex at 3314-3316 E Presidio Road, Tucson, AZ 85716 sold for $82,000 ($41,000 per unit). The seller was Jeffrey Rockland of Tucson and the investor, Tucson Acquisition and Development Corp. of Tucson (Jeffrey S Utsch, Manager). The 1,560 sq. ft. building (built 1979) on .15 acre. The buyer is a licensed real estate agent. Sale date was 5/6/2013.

Duplex at 2660 N Winstel Blvd #1 & 2, Tucson, AZ 85716 sold for $46500 ($23,250 per unit). The seller was Jennifer Sunshine of Tucson and the investor, Mitchell H. Kurker of Tucson. The 1,288 sq. ft. building (built 1963) on .14 acre. Sale date was 4/18/2013.

Triplex at 360 N Highland Avenue, Tucson, AZ 85719 sold for $37,500 ($12,500 per unit). The seller was Albert and Vita Veliz of Tucson and the investor, Tentoz, LLC of Tucson (Russell A Hudson). The 3,232 sq. ft. building (built 1996) on .24 acre. Sale date was 4/30/2013.

An SFR and Duplex at 3502 N Stone Ave and 19 E Yavapai Rd, Tucson 85705 sold for $145,000 ($48,333 per unit). The seller was Deep Canyon, LLC of Tucson (Angus & Lori Maughan, members) and the investor, Jeffry Couch also of Tucson. The 2,601 sq. ft. in two buildings (built 1947 & 1951) on .70 acre. Sale date was 6/26/2013.

Two SFRs at 3624 E Bellevue Street, Tucson 85716 sold for $220,000 ($110,000 per unit). The seller was the Resner Family Trust of Pam Desert, CA and the buyer was Community Partnership Housing (Neal Cash, managing member) of Tucson. The two 1,239 sq. ft. SFRs (built 1953) on .28 acre. Sale date was 6/28/2013.

Duplex at 2621-2623 E Copper Street, Tucson 85716 sold for $150,000 ($75,000 per unit). The buyer was Community Partnership Housing of Tucson (Neal Cash, managing member) and the seller was Jody Watkins of Tucson. The 1,560 sq. ft. building (built 1981) on .14 acre. Sale date was 6/28/2013.

Duplex at 832-834 W Glenn Street, Tucson 85705 sold for $139,900 ($69,950 per unit). The seller was Dwayne Koval of Tucson and the buyer was Ashley Barrett-Meyer of Tucson. The 2,109 sq. ft. building (built 1979) is on .20 acre. Sale date was 6/28/2013.

Duplex at 2550-2552 E Sequoyah Street, Tucson 85716 sold for $159,000 ($79,500 per unit). The seller was Buda Investments, LLC of Tucson (Judith Buda) and the buyer was Joan B. Fitzsimons of San Diego, CA. The 1,788 sq. ft. building (built 1984) on .14 acre comprised two-bedroom units. The sale date was 6/28/2013.

[/mepr-show]

RETAIL SPACE – 2928 E BROADWAY, TUCSON

Axé (pronounced Ahh-Shay) Capoeira Tucson was established in 2009, when student Aquil Joel Hameed, AKA “Sombra”, came to Tucson with the goal of sharing the martial-art, dance, and culture of capoeira and expanding the Axé Capoeira group. A direct student of Jay “Camara” Spain, and under the instruction of Maestre Barrao, Sombra has developed and implemented a kid, teen, and adult curriculum to provide the community an alternative means to develop self-confidence, encourage health and fitness, and promote cultural awareness and experiences through interactive and challenging capoeira and Brazilian dance classes.

Studio 5 leased 1,700 sq. ft. at BV Shoppes at 2928 East Broadway for his new studio. Located at the northeast corner of Country Club and Broadway, the BV Shoppes other tenants include Yikes Toy Store, Picante Boutique, and Hi*End Tight Barbershop.

Studio 5’s Axe Capoeria classes explore the limits of the contemporary evolution and modern applications of capoeira in martial-arts, music, dance, and self-exploration.

Perfect for action-seekers of all ages, a month of capoeira-infused classes will have you working the ginga and spinning aúzinho toward better health and high-flying self-confidence.

David Hammack of Volk Company Commercial Real Estate in Tucson represented the Landlord, LMG Investments, LP. Opening date for Studio 5 is yet to be determined.

RETAIL SPACE – 6450 N ORACLE RD, TUCSON 

Lifetime Martial Arts #1, Inc. dba Karate 4 Kids marital arts studio leased 2,100 sq. ft. for relocation from 7607 N Oracle Road in Oro Valley to Plaza del Oro Shopping Center at 6450 N Oracle Road in Tucson, at the northeast corner of Oracle and Orange Grove Roads. The owner, Wan Joo Choi, expects to open July 8^th.

Craig Finfrock of Commercial Retail Advisors in Tucson represented the tenant. Paul Schloss formerly with CBRE and now with Bourn Advisory Services in Tucson and Dave Dutson of CBRE in Tucson represented the landlord, Plaza del Oro, LLC.

For more information on Studio 5 opening and class schedules, contact “Sombra” at (520) 990-1820. Choi at Lifetime Martial Arts should be reached at (520) 219-0880. Hammack can be contacted at (520) 326-3200. Finfrock is at (520) 290-3200. Schloss can be reached at (520) 323-1005 and Dutson is at (520) 323-5118.

To submit sales or leases email us at [email protected]

Login for additional information for subscribers.

[ismember] Lease rate for the 1,700 SF space at 2928 E Broadway was $10 PSF/NNN with $3/PSF NNN charges. We were unable to determine lease rate at the other. [/ismember]

This article has been archived, please login for access or subscribe now for a free trial.

The medical / administrative building at 4881 E Grant Road in Tucson was purchased by Hazen Enterprises through affiliates for[mepr-show rules=”58038″]$4.3 million ($284 PSF) from BP Crossroads Investors, LLC (Don Bourn, managing member). The two-story, 15,000 sq. ft. building is located on just under an acre in The Crossroads Festival Center, at the northeast corner of Swan and Grant Roads.

The seller, an affiliate of Bourn Partners, developed the property in 2008 as a build-to-suit and sold it fully occupied to Genesis OB/GYN, the parent company of Crossroads OB/GYN. The second floor serves as administrative headquarters for Genesis with medical space for seven OB/GYN doctors on the ground floor.

Genesis is the parent company to over a dozen OB/GYN, Diagnostic Imaging and Maternal Fetal Medicine centers in the region.

Tucson-based Hazen Enterprises began as Hazen Brothers Construction in 1981, a family owned and operated enterprise, the construction company built townhomes. In 1986, that portion of the business was halted when tax laws changed and Hazen Enterprise continued its property management and commercial real estate investments in the community. Brandt Hazen, son of Paul Hazen and nephew to Steve and Jeff Hazen the company founders, took over the business about 12 years ago. Hazen currently manages 426 townhomes in 30 locations and approximately 200,000 sq. ft. of office space.

The investor recently sold another office building at 3160 E Transcon Way in Tucson to Infinity Insurance for its new Tucson location. This transaction was the buyer’s up-leg in a 1031 exchange. Additional information on this prior sale is available to subscribers here.

Hazen pointed out that there was more involved than just doing a tax deferred exchange when deciding to purchase a property. Hazen explained, “It’s about relationships and that means the people involved, not just the property. We look for relationships, not just properties. It’s more than a leased building to us, it’s a new partnership with Genesis.” Hazen takes as much pride in the relationships as the townhomes his company has built in Tucson.

Genesis is the parent company to over a dozen OB/GYN, Diagnostic Imaging and Maternal Fetal Medicine centers in the region.

Michael Sandahl, Senior Vice President of Investment Properties and David Montijo, First Vice President, at CBRE in Tucson handled the transaction for both parties.

Hazen can be reached at (520) 795-8429. Bourn is at (520) 323-1005. Sandahl can be contacted at (520) 323-5115 and Montijo is at (520) 323-5136.[/mepr-show]

[ismember]The precise sale price was $4,265,000. Property sold at a reported 9.14% cap rate, a lease rate of $26 PSF/ NNN. There was a 30-day look and 30-day close. The building SF was reported by the buyer per appraisal survey at time of sale as 15,000 SF, this differs slightly from the County Assessor number of 14,771 SF. Broker reported that the property was off-market when it sold. Land area is 43,180 SF, or .99 acre.[/ismember]