Thursday, June 27, 2019

2nd Quarter Sales

Two Owner User Units at Mesquite Corporate Center Change Hands

TUCSON, ARIZONA -- The River 5, LLC (Otto R Bohon, Jr., manager) purchased a 3,926-square-foot office condominium, Suite 208, located in Mesquite Corporate Centre, 1640 E. River Rd. in Tucson.  The class-A office condominium was purchased from the George and Jane Caughman Family Trust of California for $778,989 ($198...

Orange Grove I-10 Plaza One Lot from being “Sold Out” with...

MARANA, Arizona – Arizona Restoration Pros of Tucson (Paul Redman) purchased lot 9, a 24,059-square-foot lot, at Orange Grove I-10 Plaza for $140,745 ($5.85 PSF). The buyer plans to use the site for future construct of a building to be owner occupied by Arizona Restoration Pros, a company specialized in...

Scottsdale Investor Acquires End Cap at Harrison Plaza in Tucson

Tucson, Arizona – Majestyk Tucson, LLC (Michael Bennian, manager) of Scottsdale purchased the property located at 2530-2532 S. Harrison Road and 9425 E. Golf Links Road, Tucson, Arizona for $375,000 ($117 PSF).   The approximately 3,200-square-feet of retail space in Harrison Plaza was built in 1997 and is the end...

Favorable Multifamily Market Trends Continue in Tucson

Picor Handles $3.47 Million in Multifamily Sales Tucson TUCSON, Arizona -- Allan Mendelsberg with Cushman & Wakefield | Picor closed on an aggregate of 48-units for $3.465 million ($61,625 per unit) in Tucson recently in four transactions. California-based, Brad Land Investors, LLC and The Martin and Stacey Cohan Trust bought an...

Culver’s and Dutch Bros to Open at Shops on Valencia in...

TUCSON, Arizona – Kyle Kolsrud, a Culver’s franchisee, closed on a 41,387-square-foot lot at the Shops on Valencia for $1.3 million ($31.40 PSF). This will be the third Culver’s operated by Kolsrud in metro Tucson and to be located at Valencia and Headley in the Midvale Park area. The seller...

KFC Closes on Tucson Marketplace at the Bridges Site

TUCSON, Arizona – STRR Investments of Houston (Rehman Ahmed (manager) has closed on a 39,120-square-foot pad at Tucson Marketplace at the Bridges. For $675,000 ($17.25 PSF). The site in located north of the northeast corner of Kino Parkway and Tucson Market Place Blvd. KFC is joining Mister Car Wash, Discount...

Presson Corp. adds 29th Street Business Plaza to Porfolio for $3.075M

TUCSON, ARIZONA -- Phoenix-based, Presson Corporation (Daryl Burton, President) purchased the 29th Street Business Plaza, a 72,190-square-foot industrial zoned flex property located at 4901-5069 East 29th Street in Tucson for $3.075 million ($42.60 PSF). Built in 1976, the 60 warehouse / incubator style flex units were originally 1,200-square-feet each on...

National RV Central at Orange Grove I-10 Plaza Sells for $6.74...

MARANA, AZ --  The LeClaire Group of Marcus & Millichap (NYSE: MMI) of Denver brokered the sale of National RV Central, a 125,015-square-foot enclosed RV storage facility located at 6260 North Travel Center Drive in Marana, AZ for $6.74 million ($54 PSF). Located in the Orange Grove I-10 Plaza,...

HSL Adds Another Prime Parcel to Portfolio in Vail, Arizona

HSL continues to grow its eastside holdings with addition of prime Houghton road parcel TUCSON, Arizona – HSL Houghton Apartments, LLC, and affiliate of Tucson-based, HSL Properties (Omar Mireles, president) closed on a second site in the Vail submarket for $4.083 million from Mattamy Homes. The approximate 17 acre site is located...

Tucson’s Mixed-Use Project “Union on Sixth” Assemblage Closes for $5.5 Million...

Union on Sixth Brings 165 market rate apartments and 7,000 SF additional commercial / retail space to 4th Avenue TUCSON, ARIZONA – GEdR Union on 6th, LLC recently closed on an assemblage of 1.4 acres at the southwest corner of Sixth Street and Fourth Avenue in Tucson for $5.5 Million...

Miles Labeling Co. Moves Manufacturing to Oro Valley following Tucson Fire

ORO VALLEY, Ariz. – Miles Labeling Company (Paul J. Miles, president) purchased the building at 2300 E Vistoso Commerce Loop in Oro Valley recently for $1.125 million ($95 PSF) from Anthem Equity Group. Miles Labeling Company is a 107-year-old printing business that lost its building on North Business Park Drive,...

Dollar General Deals Still Strong Investments for Out-of-State Investors

TUCSON, ARIZONA -- Benson-DBS, LLC, a California investor from Rancho Mission Viejo, CA, purchased the brand-new Dollar General located at 28890 S. Nogales Highway in Amado, AZ.  The 9,100-square-foot Dollar General, that opened last week, was purchased from DCM Development Company, LLC for $1,642,800 ($180.53 PSF).  The store sits...