Thursday, August 17, 2017

3rd Quarter Sales

Two Tucson Retail Properties Sold for $555,000

TUCSON, ARIZONA – Head Hunters Smoke Shop, LLC purchased the property located at 5830-5850 East Speedway Boulevard in Tucson, AZ for $275,000 ($20.74 PSF). The value-add property consists of an approximately 13,257-square-foot building on 34,407-square-feet of land. Buyer was a tenant prior to sale and will continue to occupy a...

Mission Palms Apartment in Northwest Tucson Sells for $37.25 Million

TUCSON, ARIZONA -- Berkadia recently handled the $37.25 million ($103.472 per unit) sale of Mission Palms, a garden-style multifamily property located in Tucson, Arizona. Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of the Tucson office represented both the buyer, ROC Senior Living, and the seller, Stoneweg...

NAI Horizon Tucson negotiates $1.14M retail deal on 4th Avenue

TUCSON, ARIZONA – Vice President David Blanchette, CCIM, of the NAI Horizon Tucson office negotiated the $1.14 million ($194 PSF) acquisition of a 5,874-square-foot retail property at 522 N. 4th Ave., in Tucson. NAI Horizon represented the seller, Stan S. Katz of Encinitas, Calif., in the transaction. Doug Jones of...

Epic Real Estate Partners Buys Ventana Village for $21.55 Million

TUCSON, ARIZONA – Epic Real Estate Partners purchased Ventana Village, a 110,116-square-foot grocery-anchored neighborhood center at 6860-6920 East Sunrise Drive in Tucson, Arizona for $21.55 million ($196 PSF). Strategically positioned at the intersection of Sunrise Drive and Kolb Road, Ventana Village is 90.8% occupied and anchored by a high-performing Basha’s...

Several Residential Developments Reach Final Takedown Phase This Month

TUCSON,  Arizona --  The Metro Tucson Housing Market continues to show signs of possibly its best year since 2008.  As home builders exercise options earlier than scheduled to keep up with demand in Northwest Tucson and get creative with infill projects at the same time. Pulte Home Company exercised its...

Arizona Auto Spa Sells To Colorado Group

TUCSON, ARIZONA – Arizona Auto Spa at 8687 E Golf Links Rd in Tucson sold to a  private Colorado group of car wash owners for $328,000 ($154 PSF). The 2,128-square-foot car was built in 1986 on a .46 acre lot located at Golf Links and Pantano Pkwy in the Eastern...

Multitenant Building at Tucson’s Gaslight Plaza Sells for $1 Million

TUCSON, Arizona – RBAZ LLC of Tucson (Rouben Beglarian, manager) purchase a free-standing retail / office building at 102-114 S Kolb Road in Tucson for $1 million ($121 PSF). This fully leased 8,237-square-foot property is conveniently located at the Southwest corner of Broadway and Kolb, in the Gaslight Plaza, which...

Steam Pump Freddy’s Sells in Net Lease Sale for $2.46 Million

Oro Valley, Arizona -- Freddy's Frozen Custard and Steakburgers at 11143 N Oracle Road at Steam Pump Village in Oro Valley sold in a net lease sale for $2.46 million ($673 PSF) to a California Investor, The Marsha A. Covert Trust. The 3,654 square-foot location seats 100 guests and has...

Delectables Transitions into Catering-Only Sells Downtown 4th Avenue Building for $1.48...

TUCSON, Arizona -- Delectables Restaurant & Catering (Donna DiFiore, owner) sold 533 N. Fourth Ave. in downtown Tucson recently for $1.48 million ($310 PSF) ending a 44-year run downtown. Difiore is transitioning the business into a catering-only business and paid $342,000 ($127 PSF) for the building at 427 E Limberlost...

Marcus & Millichap Negotiates Westwood Apartments Sale in Tucson for $1.32M

TUCSON, Arizona – Westwood Apartments at 714 East 10th Street in Tucson sold for $1.32 million ($69,474 per unit) in a value-add transaction. The 19-units in 15,668-square-feet on .42 acres were built in 1969 with a unit mix of two 1-bedroom, (16) 2-bedroom and (1) 3-bedroom units. The buyer, Vishal Patel...

Las Villas De Kino Apts. in Tucson Fetch $21 Million

TUCSON, Arizona -- Las Villas De Kino Apartments I & II, a 348-unit apartment community at 5515 S Forgeus Avenue in Tucson, AZ. The property is conveniently located close to I-10 and I-19, local schools, attractions, and entertainment and sold recently for $21 million ($60,345 per unit). The buyer is...

Raintree Apartments in Tucson Sold for $12.4+ Million

Colorado Investor Expands Arizona Portfolio with Multifamily Property Phoenix,  Arizona –  A Colorado investor has purchased the Raintree apartment community at 6450 E. Golf Links Rd. for $12.475 million ($34,272 per unit).  The company acquired the property as an expansion of its existing Arizona real estate portfolio. “This property offers the...