FPG Arizona, dba Bring Funeral Home, an affiliate of Florida-based FPG (Brad Rex, CEO), a leading provider of end-of-life transition services, sold 236 S Scott Avenue in Tucson for $1 million ($72.23 PSF) to 236 South Scott, LLC (Ron Schwabe and Marcel Dabdoub, partners).
This historic downtown landmark held its final service on December 1, 2014 after being at this location since 1928. Bing Funeral Home then consolidated its business and crematory to its other location at 6910 E. Broadway Blvd in Tucson. FPG owns and operates 40 funeral homes and six cemeteries in 13 states, and is actively seeking to expand its services throughout the U.S.
The two-story, 13,845-square-foot building (built 1928) had a major addition to it in 1942. The building sits on three parcels with a total lot size is reported as 22,003-square-feet. It adjoins the new 20,490-square-foot lot that Stone Avenue Homes, an affiliate of Holualoa Companies purchased in March for a row housing construction project.
Subsequent to closing on the Bring Funeral home, Schwabe split off and resold the 4,607-square-foot back portion of the lot to Stone Avenue Homes for $350,000 ($76 PSF) for assemblage to the new housing project site.
Plan for the former funeral home is to redevelop it as office space, located within walking distance to Modern Streetcar, restaurants, government buildings and other downtown amenities. Schwabe told us that they have already had several tenants show an interest in the prime downtown space.
Buzz Isaacson, First Vice President, and Jeff Casper, Associate, with CBRE in Tucson represented the seller, FPG Arizona of Orlando, FL in the sale of the Bring Funeral Home property.
Ron Schwabe with Peach Properties of Tucson represented 236 South Scott, LLC in the purchase and then the resale of the lot to Holualoa.
To learn more Schwabe can be contacted at 520.798.333. Isaacson should be reached at 520.323.5151, and Casper is at 520.323.5181.
For additional information see also RED Comps #2712, #2798 and #2800.