TUCSON, ARIZONA (June 14, 2023) -- TAD IV Holdings LLC recently acquired the 5th Ave Apartments in Tucson for $1 million, with the expertise of Allan Mendelsberg and Joey Martinez, Principals and Multi-Family Specialists at Cushman & Wakefield | PICOR, while Richard M. Kleiner, MBA, Principal, and Medical/Office Specialist at Cushman & Wakefield | PICOR, successfully negotiated a lease for a medical office on behalf of Tucson Medical Center.
Recently, Multi-Family closed a deal where 5th Ave Apartments, a 5,125-square-foot investment property in Tucson, was purchased for $1,000,000 ($90,909 per unit) by TAD IV Holdings LLC, an affiliate of J&R Frawley Family Trust of Santa Monica, CA. Allan Mendelsberg and Joey Martinez, Principals and Multifamily Specialists with Cushman & Wakefield | PICOR, represented the seller. Situated in the southern region of Tucson, 5th Ave Apartments offers an excellent residential opportunity. This property has 11 units, featuring a mix of 1 Bed/1 Bath and 2 Bed/1 Bath layouts. The units come with private backyards, enhancing the comfort and privacy of their residents.
Built in 1959, 5th Ave Apartments has undergone recent renovations, combining classic charm with modern upgrades. The property's prime location near the airport and the renowned Davis-Monthan Air Force base makes it an ideal choice for military families and traveling professionals alike.
In addition to this noteworthy sale, Richard M. Kleiner, MBA, Principal, and Medical/Office Specialist, successfully completed negotiations on behalf of Tucson Medical Center with landlord Desert Dendrite, LLC, for lease of 5860 N. La Cholla, a 10,105-square-foot medical office.
Our dedicated team at Cushman & Wakefield | PICOR consistently strives to find the perfect match for our clients, ensuring their needs are met and their businesses thrive.