TEMPE, ARIZ.– The Tucson office of engineering consulting firm Terracon presented a $10,000 check from its foundation to the University of Arizona College of Engineering.

It’s the second grant from the Terracon Foundation Board this month. It recently presented a $5,000 grant to the Southern Arizona Research, Science, and Engineering Foundation (SARSEF).

“The grant will be used to support graduate students studying Geotechnical and Civil Engineering Materials at UA,” said Derek Koller, Terracon’s Tucson Office Manager. “Specifically, the grant will go towards supplementing student research funding and to provide students with financial support.”

Terracon’s Tucson Office has a longstanding relationship with UA’s College of Engineering. Regional Manager Brent M. Borchers, P.E., has been an adjunct professor for the past 7 years and Terracon employees interact with the college through its involvement with the American Society of Civil Engineering (ASCE). Terracon Materials and Geotechnical Departments have employed several interns over the years.

“Our ability to award this grant to UA is a demonstration of our commitment to support such an important part of our community and the development of future engineers,” Koller said. “Terracon Foundation University Grants are competitive grants that allow employee-owners to advocate for the communities in which we work. We are to be a firm willing to invest in the future.”

The grant is the second the Terracon Foundation has awarded to UA in as many years. In 2017, Terracon provided a $5,000 grant for graduate students studying environmental health sciences at the College of Public Health.

“We are grateful for Terracon and the Foundation for their support,” said Dominic Boccelli, Department Head at, UA Civil and Architectural Engineering. “The grant funds will help to support our geotech graduate students and our future professional engineers.”

Terracon is an employee-owned consulting engineering firm with more than 4,000 employees providing environmental, facilities, geotechnical, and materials services from more than 140 offices with services available in all 50 states.

Terracon currently ranks 24th on the Engineering News-Record list of Top 500 Design Firms and is ranked No. 1 in Asbestos and Lead Abatement Design. To learn more about Terracon visit terracon.com/offices/tucson/

Oro Valley, Arizona – A single tenant medical building at 1856 E Innovation Park Drive in Oro Valley sold in an investment sale for $1.32 million ($233.46 PSF). The 5,654-square-foot building was purchased by California investor, La Mantia Family 2001 Trust, and was fully occupied by Oro Valley Pediatrics.

A group practice with a single location, Oro Valley Pediatrics specializes in Pediatrics with four physicians. The office offers separate sick and well waiting areas and provides a more home-like environment for families. Physicians offer traditional pediatric care as well as some alternative care including a referral base to traditional and alternative care pediatric providers.

Oro Valley is located north of Tucson. The Medical Office is adjacent to Oro Valley Hospital and Oro Valley Marketplace is anchored by tenants such as Walmart, Best Buy, Dicks Sporting Goods and more.

Tony Reed with Long Realty represented the seller, Roberts-Smith Properties, LLC Trust (Dr. Carl Robert, manager) in the sale leaseback transaction. Rick Kleiner of Cushman & Wakefield | Picor represented the investor.

For more information, Reed can be reached at 520.918.5189 and Kleiner should be contacted at 520.546.2745.

To learn more, see RED Comp #6400.

MESA, ARIZONA – Sonora Vista Apartments, located at 9736 East Balsam Avenue in Mesa, Arizona sold this month for $22,500,000 ($122,283 per unit).

The NorthMarq team of Bill Hahn, Trevor Koskovich, and Jesse Hudson represented both the seller and the buyer in this transaction.

Mesa Leased Housing Associates II, LLC and entity formed by Dominium of Plymouth, Minnesota were the buyers.

“Sonora Vista was a long-term investment for the sellers who were looking to liquidate in the booming Phoenix multifamily market place,” said Hudson. “The buyers believed it was a strategic acquisition with huge operational upside due to the fact that the affordable rental restrictions were removed and renovating and rebranding the asset will increase rents significantly.”

Two entities formed by Atlantic Development of Scottsdale, Arizona were the sellers.

The 184-unit Sonora Vista apartment community, built in 2001, comprises 38 percent two-bedroom units, 42 percent three-bedroom units, and 20 percent four-bedroom units. The property, located on the north side of Balsam Road east of Ellsworth Road, is situated in the East Valley Mesa submarket. Major employers in the immediate area include Boeing and Banner Health. The Mesa multifamily market has recently shown an uptick in development activity as strong vacancy compression and record rent growth have corresponded with apartment construction. Further, investors have been increasingly active in the submarket and consistently target value-add opportunities, pushing prices to all-time highs in 2018.