Friday, February 24, 2017

3rd Quarter Sales

Wilmot Plaza $47.3M Sale Named Tucson’s 2016 ‘Deal of the Year’

TUCSON, Arizona -- As we look back over the 782 commercial transactions to-date for Tucson in 2016, with the help of our RED Comps database, the ‘Deal of the Year’ stands out as being the highest retail sale of the “trophy asset” Wilmot Plaza. Purchased in September 2016, by...

Mark Hall Apartments to be Repurposed into Student Housing in Tucson

TUCSON, AZ -- An experienced investor, SVP Holdings of Oro Valley (Vishal Patel, manager) purchased the Mark Hall Apartments, a 29- unit apartment building located 3 blocks from the University of Arizona sold for $2 million ($68,965 per unit) to be repurposed into student housing, located at 814 E...

Metro Tucson Homebuilders Acquire 172 Lots for Aggregate of $7.15 Million

TUCSON, AZ -- Three major homebuilders, Pulte, DR Horton and Richmond American, added to lot inventory this month. The following sales took place within metro Tucson over the past 30-days, totaling 172 lots and an aggregate sale price of $7.15 million. Pulte Home Corporation purchased 83 platted and engineered 50’x120’...

Tanque Verde Pediatrics Buys Building to Finish

TUCSON, AZ -- A stand-alone office building at 7507 E Tanque Verde Road in Tucson sold to TVP Real Estate of Tucson (Amelia Decker, member) for $675,000 ($93 PSF). The 2007 built building had 2,955-square-feet built out and 4,283-square-feet grey shell ready for build out. The seller, Herbert & Karen...

Swire Coca-Cola Acquires Coca-Cola Bottling in Tucson in Refranchising Agreement

TUCSON, AZ -- Swire Pacific Limited ("Swire Pacific"), a subsidiary within Swire Pacific's Beverages Division, completed the refranchising from The Coca-Cola Company of territories in Arizona and New Mexico, including the acquisition of eight sales and distribution facilities in these territories. Swire Coca-Cola’s operation of the territories commenced July...

Freddy’s and Native Grill Coming to Steampump Village in Oro Valley

Brenna Lacey and Dave Hammack of Volk Company in Tucson negotiated for the seller, Evergreen-Steam Pump, L.L.C. in the sale of two pads at Steam Pump Village in Oro Valley, Arizona for a total of $1.475 million: Steampump Native purchased approximately 58,072-square-feet of land at 11107 North Oracle Road...

One Tucson broker, three transactions, five multi-family properties sell for $5.64M

TUCSON, AZ -- One Tucson broker, Allen Mendelsberg of Cushman & Waakefield | Picor negotiated three transactions of five multi-family properties with 191-apartment units that sold for an aggregate price of $5.64 million. Tierra Luna and Sol Enterprises, LLC purchased two, multi-family apartment complexes from RPR E. 22nd Street, LLC. ...

Enlivant Expansion Includes Tucson Assisted Living for $12.25 Million

TUCSON, AZ -- Chicago-based Enlivant, one of the nation’s largest owners and operators of senior living communities, TPG, a leading global investment firm, and TPG Real Estate, the real estate platform of TPG, are acquiring a series of large, strategic portfolio acquisitions from several unrelated organizations. As part of...

Tucson Historic Preservation Foundation – New Stakeholder on Sunshine Mile

TUCSON, AZ -- Tucson Historic Preservation Foundation recently purchased the former Hirsh's Shoe Store building at 2934 East Broadway Blvd. in Tucson for $200,000 ($77 PSF). The Foundation plans to update the building through the use of grant money and private fundraising as well as a commercial partner for...

Old Vail Plaza Growing with another Out Pad Sale

TUCSON, AZ -- OVP Lot 10, LLC of Tucson (Kevin Morrissey, manager) purchased 0.26 acres of land at Old Vail Plaza for $715,000 ($62.36 PSF). Located on the Northeast corner of Houghton Road & Old Vail Road, across from Houghton Town Center, and adjacent to the Rita Ranch Vail...

Mesquite at Wrightstown Enters Phase II of Tucson Infill Project

Tucson Land and Cattle Company LLC (Jim Campbell, manager) exercised an option to complete Phase II at Mesquite at Wrightstown, a subdivision located southwest of Harrison and Wrightstown Road in Tucson. Phase I with 12 homesites is under construction by Mesquite Homes and Phase II will add an additional...

Berkadia Completes Two Tucson Apartment Sales worth $41.7 Million

TUCSON, AZ -- Scottsdale-based, Bascom Arizona Ventures, through affiliate Silverbell Property Investor LLC (Glenn Daiutolo and Jerry Finney, Managing Directors) bought The Springs at Silverbell Apartment at 7759 N Silverbell Road in Tucson for $31.5 million ($108,621 per unit). The Springs at Silverbell Apartment Homes is a 290-unit garden-style apartment...