TUCSON, ARIZONA — The Townsend Medical Collaborative, a 60,000 – 100,000-square-foot spec Class A medical office building (MOB) is planned for the Pima Medical Institute Campus at 2121 N Craycroft Road in Tucson. Located southwest of Grant off Craycroft, the property is adjacent to Tucson Medical Center and TMC Medical Park.

The project is slated to be the first spec MOB in a very long time in Tucson. Rick Kleiner, MBA, principal and office specialist with Cushman & Wakefield | Picor pointed out that this is the first spec MOB that he could remember in that least 20 years.

The property owner, California-based Cypress West Partners, LLC, is specialized in healthcare properties across the Western United States.

Pima Medical Institute (PMI) Campus is already a dynamic example of a campus collaboration, anchored by a 75,000-square-foot training facility and corporate headquarter on approximately 20 acres with freestanding buildings ranging from approximately 5,300 – 100,000-square-feet.

Founded 1972 in Tucson, PMI is a local success story that has grown into eight locations in western states.

The PMI Campus has a 20,000-square-foot built-to-suit specialty medical practice that is currently in the design phase and being developed by Summit Development Partners.

An 11,716-square-foot Tucson Ear Nose & Throat office fronting Craycroft is also nearing completion.  There are two additional medical office building pads that total a potential 15,000-square-feet available for sale or build-to-suit.

The Townsend Medical Collaborative, named after the former Townsend Middle School that once stood here, was sold by Tucson Unified School District (TUSD) to Pima Medical Institute (PMI) in December 2017. See full story here.

PMI then sold excess land for build-to-suits and further campus enhancements.

The spec building is planned to begin construction with 50% pre-lease and is anticipated to break ground 4^th quarter 2020. Full build out of PMI campus is 150,000-square-feet in addition to the Townend Medical Collaboratve.

Rick Kleiner of Cushman & Wakefield | Picor represents the developer in the leasing of Townsend Medical Collaborative and Tom Nieman and Kleiner also represent the owner of the two additional medical office building sites.

For more information, Kleiner and Nieman should be reached at 520.748.7100.

GILBERT, Arizona – Located in the highly desirable town of Gilbert, on the southeast corner of Cooper and Ray Roads, Cooper Square sold for $2,827,500 ($183 PSF).  Comprised of two multi-tenant shop buildings totaling 15,462 square feet, the shop buildings are anchored by Leading Edge Academy, a K-12 Charter School, and Life Community Church.  Outparcels on the property are occupied by a Shell Fuel Station, Vantage West Credit Union and Greulich’s Auto Repair, adding a nice mix of service users that drive traffic to the center.

ORION Investment Real Estate’s Michael Achtman and Jennifer Eggert were the leasing broker at time of sale, and teamed with ORION retail specialist, Derek Buescher, to exclusively market this asset for the Nevada-based Seller, Cooper Square Center LLC.  Assisting ORION on the transaction was Velocity Retail Group.  The California-based Buyer, United Group, LLC, was represented Peak Commercial.

The property is located just three miles north of the Loop 202 Freeway with a full-diamond interchange at Cooper Road.  The shops were constructed in 1999 and have been diligently maintained, making Cooper Square an attractive sale.

Buescher noted, “Gilbert is one of the strongest retail submarkets in the Phoenix Metropolitan area attracting Cooper Square’s great core of tenants, with 40% of the tenants being in the center for over 10 years. The property was 90% occupied at close of escrow.”

TUCSON, ARIZONA — Cole Valley Partners, LLC purchased 1.14 acre at the NEC 22nd Street and Alvernon Way from Kettenbach, LLC  (Michael Kettenbach, manager) for $925,000 ($18.57 PSF).

The property was a former Shell Station and sold with 2,145-square-feet of improvements. The buyer intends to raze the existing improvements and redevelop the site with a Dutch Bros coffee shop.

This will be the sixth location for expansion-minded Dutch Bros in metro Tucson. Dutch Bros management announced at the start of 2019 it wants to grow to 800 shops in five years from around 300 stores now.

Scott Soelter and Ben Craney with NAI Horizon of Tucson represented the seller and Marty Olejarczyk (Marty O) and Jesse Rozio with GPS Retail Advisors of Phoenix represented the buyer in the transaction.

For more information, Soelter can be reached at 520.204.6969, and Craney is at 520.326.4500. Marty O is reachable at 602.762.0754 and Rozio is at 480.566.8640.

To learn more, see RED Comp #6898.