Atlanta, GA – Gray Television, Inc. (“Gray”) (NYSE: GTN) reached an agreement to divest certain television stations currently owned by Quincy Media, Inc. (“Quincy”) to Byron Allen’s Allen Media Broadcasting, LLC (“Allen Media”) for $380 million dollars in cash. Allen Media, which owns and operates local television stations in twelve markets, also owns 12 networks including The Weather Channel and the free–streaming service Local Now.  Allen Media Group was founded by Byron Allen in 1993.

The KVOA Station at 209 West Elm Street in Tucson recorded at $8,264,869.

Earlier this year, Gray reached an agreement to acquire Quincy for $925 million in cash. To facilitate regulatory approvals for this transaction, Gray agreed to sell to Allen Media the following
television stations currently owned by Quincy, each of which operates in a market in which Gray also owns and operates a television station:

• KVOA (NBC), Tucson, Arizona (Nielsen DMA Rank 64)
• WKOW (ABC), Madison, Wisconsin (DMA 81)
• WSIL / KPOB (ABC), Paducah, Kentucky– Harrisburg, Illinois (DMA 84)
• KWWL (NBC), Cedar Rapids, Iowa (DMA 92)
• WXOW / WQOW (ABC), La Crosse–Eau Claire, Wisconsin (DMA 129)
• WAOW / WMOW (ABC), Wausau–Rhinelander, Wisconsin (DMA 136)
• WREX (NBC), Rockford, Illinois (DMA 139)

Gray’s acquisition of Quincy sale and the foregoing Quincy stations to Allen Media closed simultaneously. As such, at no time did Gray own, control or operate any of the
divestiture television stations. Gray closed these transactions following receipt of regulatory and other approvals in August 2021.

“I truly appreciate Gray and Quincy, two of the best broadcast groups in the business, working with us to acquire and transfer these amazing assets. Over the past year–and–a–half, we’ve invested close to $1 billion to acquire best–in–class, top–tier, broadcast network affiliates,” said Byron Allen, Founder/Chairman/CEO of Allen Media Group. “We plan to invest approximately ten billion dollars to acquire more ABC, CBS, NBC, and FOX television stations over the next two years with the goal of being the largest broadcast television group in America. All of our media assets, including these broadcast television stations, will work in concert to amplify our free–streaming service, Local Now.”

“We are thrilled to facilitate the transfer of these fine Quincy television stations to Byron Allen and Allen Media Group, who we are confident will continue the strong commitments to journalism and localism that have distinguished these stations under Quincy’s outstanding stewardship,” said Gray’s Executive Chairman and CEO Hilton H. Howell.

PHOENIX, ARIZONA — CBRE announced the sale of a 56.5-acre development site in Mesa, Ariz.’s Elliot Road Technology Corridor for $16.6 million to Phoenix-based real estate investor and developer Eisenberg Company.

CBRE’s Barry Gabel, Chris Marchildon and Will Mast represented the institutional seller. This was the third disposition in Arizona since 2018, and the second one in 2021 the CBRE team helped facilitate for the seller. Steve Larsen with JLL represented the buyer.

“Eisenberg Company was tremendous to work with and executed seamlessly,” said Mast. “Redundant power, plus access to abundant water, natural gas and fiber, combined with a simplified entitlement process, are the reasons why the Elliot Road Technology Corridor is a highly sought-after location from investors, developers and tenants alike.”

The new owner has approved plans with the City of Mesa to begin immediate development on a five-building, 770,000 square-foot Class A industrial property, which will be known as MET202. The buildings will range in size from 77,000 square feet to 221,000 square feet and will offer 32’ clear height, both grade-level and dock-high loading, plus additional features.

The property, located at the northeast corner of Crismon Road and Elliot Road within Mesa’s Elliot Road Technology Corridor, sits adjacent to Salt River Project’s high-power transmission lines and is less than one block from the Browning Substation, which makes the site ideal for companies needing large amounts of redundant, dedicated power. It is also within proximity to the Loop 202 Freeway and provides nearly 2,200 feet of frontage along Crismon Road.

TUCSON, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Coronado Vista Courtyard, a 21,600-square-foot seniors housing property located in Tucson, Arizona.

According to Ryan Sarbinoff, regional manager of the firm’s Tucson office, the asset sold for $3,200,000.

“Insatiable buyer demand continues to be driven by a 14.6% increase in rental growth across Tucson year over year as net in-migration of new seniors from midwestern cities outpaces new deliveries,” explained Alex Snyder, investment specialist in Marcus & Millichap’s Tucson office. Snyder, Hamid Panahi and Lane Schwartz, investment specialists in Marcus & Millichap’s Tucson and West Los Angeles offices, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was procured by Snyder, Panahi and Schwartz.

“Tucson’s low cost of living and highly educated workforce keep it in a leadership position as one of the nation’s fastest-growing economies. Healthy job gains, favorable yields and value-add opportunities have been the main catalyst for investors moving capital into Tucson,” Panahi added.

Coronado Vista Courtyard is located at 1511 North Craycroft Road in Tucson, Arizona. Built in 1963, this 40-unit 55+ senior apartment community sold for $80,000 per unit.

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