The property occupied by Camping World of Tucson at 4700 South Palo Verde Road in Tucson sold to Cambridge Investors One LP, an investor from Southern California, for $5.9 million ($231 PSF). Camping World is the camping and recreational vehicle enthusiast’s one-stop-shop for everything they need to enjoy living in and traveling in their RV. The 25,578-square-foot building sits on 6.31 acres and has been occupied by Camping World SuperCenter since 2013.

Camping World is America’s Largest RV Dealership. Starting as a retail site for accessories in Tucson it has expanded to include selling new and used RVs, Travel Trailers, Motorhomes and 5th Wheels. With close to 100 dealers nationwide, it provides RV Parts, RV Service and RV Accessories now all across the US. Camping World offers exclusive benefits and discounts to Good Sam Club’s 1.5 million members, plus a full line of unique ancillary services, including emergency road service, specialized RV insurance, extended vehicle warranties, RV loans and more.

You could never miss Camping World of Tucson, known by its massive 40-feet-by-80-feet American flag on the 130 feet tall pole placed in honor of our country and veterans. Although the flag here is taken down for repairs every three weeks or so, the manager at Camping World Tucson told us.

When Marcus Lemonis, chairman and CEO of Camping World and Good Sam first installed the flags in the SuperCenters said, “By making this proud statement, our goal is to bring local communities together in celebration of everything that has been accomplished by veterans for our country.”

Camping World plans to open 15 new stores this year.

The seller was Honda Camping Group, an affiliate of Larsen Baker of Tucson (George Larsen and Don Baker). Andy Seleznov, CCIM, and Melissa Lal, CCIM, with Larsen Baker handled the transaction.

To learn more Seleznov and Lal should be reached at 520.296.0200.

See also RED Comp #2515 for more information or login in here.

[mepr-show rules=”58038″]Sale date: 2/3/2015. Down payment was $2,655,000 and balance financed with new loan(s). APN #132-20-002Z and 153[/mepr-show]

Tempe, AZ –ORION Investment Real Estate is pleased to announce that Palm Terrace Apartments and affiliate of Vestis Group (Principals Natan Jacobs and Les Litwin) have completed the sale of Palm Terrace Apartments, a 44-unit multifamily community located at 1133 West 5th Street, just west of the Farmer Arts District in Downtown Tempe, Arizona for $3,050,000 ($69,318 per unit).

Joseph Dietz of Orion Investment Real Estate in Scottsdale, Arizona represented the buyer and the seller in the transaction.

“This was a great acquisition for our group,” says Les Litwin, Principal at Vestis Group and a partner in the buying entity, “The property is well located just west of the trendy Farmer Arts District in Downtown Tempe, on the campus shuttle line, near Mill Avenue, the Valley Metro Light Rail, restaurants, bars and entertainment. We intend to put out a high-end rental product, in-line with our other MODE Apartments communities, using contemporary styling and adding modern amenities to compliment the neighborhood.”

Palm Terrace Apartments, is a 44-unit, garden-style, two-story, apartment community located in a strong rental area of north Tempe, just west of Mill Avenue, Arizona State University and the Farmer Arts District in Downtown Tempe. The property was built in 1973 of concrete block construction and is individually metered for electricity. The garden-style community has a swimming pool, covered parking and outdoor barbecue area. The units are extremely spacious two-bedroom/one-bath at 916 square-feet, and have private balconies/patios, refrigerators, dishwashers and disposals. The total site area is 2.08 acres.

A major renovation is planned for Spring 2015. Planned exterior improvements include; refinishing of the second floor exterior with new stucco and trim with metal accents, including a screen wall for the rooftop HVAC. New windows throughout the property, extensive HVAC replacement. Repair and replace the exterior stairway and terrace railings. Upgrades to landscaping and common areas, remodeling the existing laundry and maintenance room to become a poolside gym room and adjacent leasing office. Repair and re-coat the parking lot, upgrade pool area. Planned interior renovations will include an additional bath, washer/dryers in each unit, new cabinetry throughout, new appliances, a kitchen bar/counter that opens to the dining area, new flooring, electrical fixtures and fans.

Palm Terrace Apartments is located in north Tempe, along 5th Street and Beck Avenue, just west of Hardy Drive, in close proximity to Arizona State University, Mill Avenue, Farmer Arts District, Tempe Town Lake, Orbit Shuttle and the Valley Metro Light Rail. The property is located in a quiet residential neighborhood just west of Downtown Tempe, within close proximity to the Loop 202 Freeway, allowing easy access to Sky Harbor International Airport, Downtown Phoenix, Scottsdale, the valley freeway system and numerous employers. The property is individually metered for electricity and master metered for water. The property owner is responsible for the cost of water, sewer, and trash pickup, and the residents are responsible for the cost of electricity in their units, including the cost of heating and air conditioning.

The buyer is a private investment group from Phoenix specializing in acquiring, remodeling and operating multifamily investment real estate. The buyer plans to spend approximately $1,600,000 ($36,364 per unit) to renovate and improve the project.

The seller was Palm Terrace Tempe, LLC of Phoenix, Arizona.

To learn more Dietz should be contacted at 480.689.4107 or email [email protected]

TUCSON, AZ – Three high-performing commercial real estate brokerage professionals at Cushman & Wakefield | PICOR in Tucson have earned company ownership and been promoted to Shareholder. Joining the existing ten C&W | PICOR principals in January 2015 are Allan Mendelsberg, Brandon Rodgers, CCIM, and Rob Tomlinson.

Brandon Rodgers, CCIM, an industrial specialist, came to C&W | PICOR from CBRE in 2011. Brandon’s area of focus is industrial property in the Tucson Metro area. He provides both landlord/seller as well as tenant/buyer representation services. His clients include local companies as well as large regional and national firms. He has a current emphasis on dispossessions of bank REO assets. Rodgers is 2015 Chapter President of CCIM Southern Arizona, serves on the board of the Pima County Real Estate Research Council, and is a Cub Scout Den Leader.

Allan Mendelsberg joined the firm in 2009 and specializes in the sale of Multifamily and Investment properties. Allan previously worked for Marcus & Millichap before joining C&W | PICOR. Allan’s clients range from small private investor to large REITS. He contributes his success to being a client first broker that looks one step ahead in the transaction process. Allan’s real estate career has earned him high praise from his clients, and he is known for his strong work ethic, strong communication and negotiation skills, and strong relationships in the real estate and banking (mortgage) industries. He serves on the board of Special Olympics and the Cystic Fibrosis Foundation and was the Investment Division leader in 2014.

Rob Tomlinson has been with C&W | PICOR since 2005, with a focus on landlord and tenant representation for both retail and religious properties. Rob volunteers his time with the Catalina Council Boy Scouts and has served on the Tucson and Sahuarita Planning Commissions, as well as on numerous land use and planning committees. Rob has been an active commercial real estate broker since 1996. His experience in assemblages coupled with his education in Urban Geography, Site Analysis, and Land Use Planning has helped him to add value to challenging sites. As a CCIM Candidate and a member of the International Council of Shopping Centers (ICSC), Rob has made the extra effort to add value to transactions.