TUCSON, ARIZONA — The following commercial real estate transactions totaling $3.3 million created a lot of conversation at the July meeting of the Southern Arizona CCIM Chapter, in case you missed it, we’re publishing them here as part of our CCIM Conversation Corner.
Jade Bossert with Tierra Antigua represented the buyer, Erna K Kaplan and the seller, Antonio S Moreno, in the sale of Menlo Park, a 14-unit, 9,512-square-feet apartment building at 1204-1233 W Cedar Street in Tucson for $951,000 ($67,929 per unit / $100 PSF). The property is on a 33,541-square-foot lot located 4 blocks away from the new Caterpillar headquarter. Judy Kaiser with Fidelity National was the escrow agent. To learn more see RED Comp #5921.
James P Robertson, Jr., CCIM, and Omer Kreso, CCIM Candidate with Realty Executive Tucson Elite represented the seller, Caroline Duff of Tucson and the buyer, Ann Boyce of Bakersfield, California. The 8-units in 7,378-square-feet sold in an all cash transaction for $780,000 ($97,528 per unit / $106 PSF). Vicki Relich of Pioneer Title Company was the escrow agent. To learn more, see RED Comp #5930.
Craig Finfrock, CCIM, of Commercial Retail Advisors, LLC represented the buyer, Surf Thru, Inc, and Rob Tomlinson and Isaac Figueroa of Cushman & Wakefield | Picor represented the Seller, Altima Investments, LLC, in the sale and purchase of land at 6307 E Grant Road. This is the third Surf Thru site in the Tucson. The Bakersfield, CA based quick service carwash chain paid $700,000 ($14.90 PSF) for 46,986-square-feet of land. Located at the northeast corner of Grant and Wilmot Roads adjacent to Carl’s Jr. and Costco. This will be the 16th location for Surf Thru Express Car Wash, with four locations under construction. Surf Thru is expanding throughout the Southwest, including Southern California, Arizona, Nevada, New Mexico, and Texas. To learn more, see RED Comp #5816.
James P Robertson, Jr., CCIM, with Realty Executive Tucson Elite handled the sale of 4610 E Speedway Blvd. in Tucson for $308,000 all cash ($197.82 PSF). I Chief, LLC of Mesa was the seller and Chelton, LLC of Tucson the buyer. The property will be converted to food and beverage service. To learn more, see RED Comp #5978.
Brandon Rodgers, CCIM, at Cushman & Wakefield | Picor and James T Lavery, CCIM, at Realty Executives Tucson Elites handled the sale of 2.8 acres at 4980 E Canada Street in Tucson for $215.964 ($1.75 PSF). Zoned I-2, the buyer, John Dorris, purchased it for expansion and outside storage space. Judy Kaiser with Fidelity National was the escrow agent. To learn more, see RED Comp #6032.
James P Robertson, Jr., CCIM, with Realty Executive Tucson Elite sold the property at 3228 S 12th Avenue in Tucson for $175,000 ($64.41 PSF) to The Harty Family Living Trust of Phoenix. The property will be converted to a medical office clinic. Vicki Relich of Pioneer Title Company was the escrow agent. To learn more, see RED Comp #5924.
Mark Hayes of Tierra Antigua handled the sale of 1.18 acres land northwest of River Road and Oracle Road for $110,000 ($2.14 PSF) in an all cash estate sale. Bob Camino Principal, LLC (Bob Zhang, manager) was the buyer who plans to re-zoned for development of four SFR lots. Bob Zhang, with Neal Manning Real Estate in Tucson, was self-represented in the transaction. To learn more see RED Comp 6031.