PHOENIX, Arizona – CBRE has arranged the sale of Decco 109, a 40-unit garden-style apartment community located near Arizona State University at 109 E. Broadway Road in Tempe, Ariz. The property commanded a sale price of $4.8 million ($120,000 per unit).

Brian Smuckler, Jeff Seaman, and Bryson Fricke represented the seller, 5C Onyx Tempe, LLC, and the buyer, B&R Capital Partners and Capital Allocation Partners, in the transaction.

The unit mix is comprised of spacious one- and two-bedroom floorplans that range from 650 to 850 square feet. Renovated in 2014 with premium finishes, the property features wood-style vinyl flooring, contemporary kitchen finishes, full-size appliances and modern bathroom vanities. Exterior renovations include a smooth stucco façade with a two-toned paint scheme, resurfaced parking, dual-pane windows and a new bistro area with gas barbeque grills.

Decco 109’s central location provides immediate access to Fortune 500 employment, an eclectic mix of shopping and dining options in the historic Mill Avenue District, Arizona State University, and Tempe Town Lake, known for outdoor festivals, art shows, concerts and recreation.

The Consumer Price Index for All Urban Consumers rose 2.5 percent from October 2017 to October 2018. Consumer prices for food rose 1.2 percent during that period. Prices for food at home changed little over the year (up 0.1 percent), while prices for food away from home rose 2.5 percent. Energy prices were 8.9 percent higher in October 2018 than a year earlier.

Consumer prices for all items less food and energy rose 2.1 percent from October 2017 to October 2018. Apparel prices were down 0.4 percent over the year, while prices for new vehicles were 0.5 percent higher. Consumer prices for shelter rose 3.2 percent over the year.

These data are from the Consumer Price Index program and are not seasonally adjusted. To learn more, see “Consumer Price Index — October 2018.” We also have more charts on the latest Consumer Price Index news release.

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from November 12 thru 16, 2018.

OFFICE – 1650 N. KOLB RD., TUCSON
Guild Mortgage Company leased a 2,538-square-foot office space located in Kolb Executive Plaza at 1650 North Kolb Road, Suite 118 from Kolb Executive Park, LLC. Jeff Casper with CBRE’s Tucson Office represented the landlord. [mepr-show rules=”58038″]Asking lease rate: $17.50 SF/YR Modified Gross[/mepr-show]

RETAIL – 7825 E. GOLF LINKS RD., TUCSON
T&R Leon Ventures, LLC leased a 2,000-square-foot free-standing Dairy Queen located at 7825 East Golf Links Road. Pete Villaescusa and Jesse Peron of CBRE’s Tucson Office represented the landlord, Simone’s Children’s 2004 Trust.

OFFICE – 2730 E. BROADWAY BLVD., TUCSON
Claussen Law Offices leased a 1,560-square-foot office space located at 2730 East Broadway Blvd, Suite 240 from 2736 Associates, LLP. Jeff Casper of CBRE’s Tucson Office handled the transaction. [mepr-show rules=”58038″]Asking lease rate: $17.00 SF/YR Full Service; Tenant Phone: 520.327.5000[/mepr-show]

INDUSTRIAL – BUTTERFIELD BUSINESS CENTER, TUCSON
Sunrise Engineers of Fillmore lease 1,500-square-feet of industrial space at Butterfield Business Center. Signing date: 8/17/2018. TIs “as-is” data upgrades $2,000 with a 3-year term. Rob Glaser, CCIM, with Cushman & Wakefield | Picor represented the landlord and James T Lavery, CCIM, of Realty Executives represented the tenant. [mepr-show rules=”58038″]Asking lease rate: $0.75 PSF/MO Modified Gross; Tenant Phone: 520.274.3900[/mepr-show]

OFFICE – 1650 N. KOLB RD., TUCSON
Skin Narrative leased a 1,108-square-foot office space located at Kolb Executive Plaza at 1650 North Kolb Road, Suite 136 from Kolb Executive Park, LLC. Jeff Casper of CBRE’s Tucson Office represented the landlord. [mepr-show rules=”58038″]Asking lease rate: $17.50 SF/YR Modified Gross; Tenant Phone: 520.982.9200[/mepr-show]

RETAIL – 1011 N CRAYCROFT RD., TUCSON
Military Assistance Mission has leased an 837-square-foot space at Craycroft Plaza, located on Craycroft Rd. just south of Speedway Blvd. The Premises will be used for general office and client training services. They are scheduled to open for business December 2018.  Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker, while Ian Stuart, of CBRE, represented the tenant. [mepr-show rules=”58038″]Asking lease rate: $9.00 SF/YR NNN; Tenant Phone: 602.246.6429[/mepr-show]

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