Friday, March 24, 2017

2nd Quarter Sales

Pier 1 Tucson Sells in Net Lease Sale for $3.8 Million

TUCSON, AZ - Pier 1 Imports at 5919 East Broadway Blvd. in Tucson sold in a net lease sale for $3.782 million ($335 PSF) to a California investor, Barrett Associates of Castro Valley California (Kent Woodell, manager). Pier 1 has operated at this location for 25 years, since 1990, and...

Slaughterhouse Tucson Sells for $1.3M – Anticipates Zombie Apocalypse 2017

Tucson Screamers of Tucson (Bobby Sutton, manager) purchased the property at 1102 West Grant Road in Tucson in a lease purchase transaction for $1.3 million ($44 PSF) from Asset Builders of San Diego, CA (Joseph Oliver, manager). Sutton said, “The building would have probably been a tear down, if I...

Plaza Centro in Downtown Tucson Sells for $8.7 Million

The mixed-use, Plaza Centro, at the heart of Downtown Tucson’s revitalization was sold to Crow Holdings of Dallas, Texas (Daniel Feeney, VP) for $8.7 million ($367 PSF). Located at the core of the heartbeat of downtown, 4th Avenue and Congress Street is the entertainment, dining and nightlife epicenter. The property’s...

Cushman & Wakefield | Picor Releases Q2 Market Reports

Cushman & Wakefield | Picor has released its market reports for the first half of 2016. Preliminary Bureau of Labor Statistics data reported that Metro Tucson added 15,636 jobs year-over-year through May 2016, with total employment of 455,312 and a second quarter unemployment rate of 5.0%. Due to recent high-quality...

Richmond and DR Horton Acquire SFR-Lots in Tucson

Richmond American (Rick Morris, Land Acquisition) purchased 50 platted and engineered lots at Mountain Vail Estates for $1.501 million ($30,000 per lot). This is the first half of approximately 94 lots being re-platted by the seller, MC 140 LLC, an affiliate of Diamond Ventures. Buyer will develop the lots for...

Industrial Building Sells at 1140 N Rosemont Blvd. in Tucson

Charges 2 LLC (Brandon Rodgers, member) purchased a 5,000-square-foot industrial building located at 1140 N Rosemont Blvd in Tucson from Richmond Hills Investments LLC (Jesse Chen, trustee) for 343,000 ($69 PSF). The buyer purchased to lease property. Built in 1998 the industrial warehouse building is on a 19,424-square-foot lot zoned...

Golf Cars of Arizona Expanding 22nd Street Location

Golf Cars of Arizona (Dereck Makowski, manager) bought the property at 4924 East 22nd Street in Tucson for $170,000 ($71 PSF). The former BAP Import Auto Parts consists of a 2,400-square-foot metal building is on a 13,601-square-foot lot. Buyer purchased the property to occupy it for expansion of Golf Cars...

Willis Metal Crafts Expanding in Tucson

TUCSON, AZ – Represented by Tom Hunt of Tango Commercial Real Estate, Willis Metal Crafts has purchased 15,200-square-feet of land with 5,000-square-feet of improvements formerly occupied by Scott Supply Services at 3214 East 46th Street in Tucson, Arizona for $200,000 ($40 PSF). The company plans to complete its move...

Two Hacienda Del Sol Office Condos Sold Separately

Two office condominiums at Hacienda Del Sol Office Complex recently sold in separate transactions within days of each other. Hacienda Del Sol Office Complex is located south of River and east of Campbell Avenue in Tucson. In the first transaction, Neuron LLC (Francisco Vildivia, member) purchased a 3,425-square-foot office condominium...

Two Pads Sell for Construction at New Fry’s Center on Valencia

Two pads sold at the Fry’s center under construction at Valencia and Valley Indian Agency Road in Tucson for an aggregate sum of $987,363 ($5.63 PSF). The hard corner pad located at the southwest corner of Valencia and Valley Indian Agency Road is 71,025-square-feet and was purchased by Steamroller Pad...

Rio Nuevo Closes on Land for Tucson’s New Greyhound Bus Terminal

The Rio Nuevo Multipurpose Facilities District closed on the purchase of a 46,107-square-foor land parcel at 801 East 12th Street in Tucson for construction of the new Greyhound Bus Terminal. The property commanded a sale price of $575,000 ($12.47 PSF). The Rio Nuevo Board announced at its February 2nd meeting...

Hilton Tucson East Hotel at the University Sells for $9.27 million

$8 Million Property Renovation Planned to Transform Hotel Back to Original Glory Caliber Hospitality, a division of Caliber-The Wealth Development Company, acquired the 7-story, 232-guestroom, Hilton Tucson East in Tucson, AZ, for $9.27 million ($39,947 per room). Located at 7600 E Broadway Blvd. in Tucson’s business district, the property features...