These five owner/ user retail sales in Tucson, listed by submarket, have a combined total of $1.6 Million. Only one was a distress sale. All represent business owners who decided it time to take the leap into property ownership.

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[mepr-show rules=”58038″] NORTHEAST SUBMARKET
L & L Pool Services of Tucson (Lonnie Lominac) purchased a 2,400 square foot retail building on a 13,000 square foot lot at 2900 N. Country Club Road in Tucson from Complete Landscaping, Inc. of  Tucson (Billy Gibson) for $425,000 ($177 PSF). The property is zoned C-1 and previously occupied by seller for a landscaping business, complete with fenced yard. This move represents a substantial expansion, and consolidation for L & L Pools. Russell W. Hall, SIOR, GSCS and Stephen D. Cohen Principals and Industrial Specialists with Cushman & Wakefield | PICOR of Tucson, represented the buyer in this transaction while Fernando Acevedo with KW Commercial of Tucson represented the seller.

Old Pueblo Industrial Products, LLC of Tucson (Amanda Tobak) acquired Industrial Chemical of Arizona of Tucson (Leslie Smith) business and real estate at 5302 E Pima Street in Tucson. The 3,360 square foot building at 5302 E Pima was purchased for $220,000 ($65 PSF) and the business purchased separately. Industrial Chemical of Arizona is a cleaning supplies specialist, focusing on the maintenance and restoration of carpets, natural tile, concrete, wood, clay and brick for the kitchen, restroom and showroom. The business has been selling cleaning products in Tucson, Arizona for over 36 years, since 1977. They provide products of over 200 vendors. The financing was handled by SBA.

EAST SUBMARKET

Pyramid Glass, LLC of Tucson (Eugene Zavala), a newly formed business, purchased 6,185 square feet at 2011 S. Alvernon Way in Tucson from Vantage West Credit Union for $162,000 ($26 PSF) in an REO sale. Brandon Rodgers, CCIM, and Aaron LaPrise, Commercial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

Ker Haus, Inc. of Tucson (John Stanek, President) dba Mercedes-Benz Repair by Benztek Automotive, purchased the property that it was occupying as a tenant at 4610 East 1st Street in Tucson for $275,000 ($68 PSF). The 4,020 square foot concrete block building (built 1986) on a 16,800 square foot fenced lot was sold by Malco Enterprises of Las Vegas, NV (John Mallo, President).

Bucking Bronco, LLC of Tucson (Al and Bonnie Bianco) purchased the 7,916 square foot retail building known as “Al’s Ace Hardware” at 4010 E 29th Street in Tucson for $554,120 ($70 PSF). Built in 1986, the property was previously leased by the buyer. The seller was JAB 29th Street Corporation as successor in interest to J.A.B. Corporation of Tucson (Gary Fletcher, President). Al’s Ace Hardware is locally owned and operated since 1988.

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2900 N Country Club: sale date 8/16/2013. Down payment was $28,800., Zoned C-1, Tucson.
5302 E Pima St: Sale date 7/2/2013. Down payment was $15,400. Zoned C-1, Tucson
2011 S Alvernon Way: ale date 8/29/2013. Down payment was $8,000. Zoning C-2(AE), Tucson.
4610 E 1st Street: Sale date: 8/9/2013. Down payment was $98,250. Zoned C-2, Tucson
4010 E 29th Street: Sale date: 7/31/2013. All cash deal. Zoned C-2, Tucson [/mepr-show]

Weidner Investment Group of Kirkland, Wash., acquired the 220-unit Paradise Falls, located at 15434 N. 32nd St. in Phoenix, for $10.4 million, or $47,272 per unit. The seller was Aslan Realty Group of Irvine, Calif.

Paradise Falls is a two- and three-story community consisting of 15 buildings on 7.91 acres with 181,374 net rentable square feet. The majority of the property was built in 1986. In 1997, the property was expanded. The unit mix is approximately 55 percent one-bedroom and 45 percent two-bedroom, ranging from 564 square feet to 1,164 square feet. Approximately 23 percent of the apartments have wood-burning fireplaces.

Common amenities at Paradise Falls include two swimming pools, a spa, fitness center, business center, a lounge area with a large screen television and outdoor barbecues. The complex has 220 covered parking spaces, plus 127 open parking spots.

Mentor Properties of Scottsdale acquired the 288-unit Canyon Place, located at 4715 N. Black Canyon Highway in Phoenix, for $7.6 million, or $26,496 per unit. The seller was Canyon Place Apartments LLC of Los Angeles.

Canyon Place is a two-story apartment community consisting of 18 buildings on 9.98 acres with 192,600 net rentable square feet. Built in 1985, the unit mix is approximately 13 percent studios, 50 percent one-bedroom and 37 percent two-bedroom, ranging from 450 square feet to 950 square feet.

Common amenities at Canyon Place include two swimming pools, a spa, playground area, two laundry facilities and outdoor barbeques. The complex has 288 covered parking spaces, plus 45 open parking spots.

Bill Hahn, Jeffrey Sherman and Trevor Koskovich of the HSK Multifamily team at Colliers International in Greater Phoenix represented all parties in both transactions.

Hahn had this to say about the Paradise Falls sale, “The opportunity to make small capital improvements combined with the property’s good physical condition and high occupancy rate of 95 percent attracted Weidner to Paradise Falls as a solid investment.”

“Canyon Place represents a high-quality rental property and strong value for residents in the immediate submarket. In addition, recent capital improvements including new roofs, covered parking and air conditioning units drew Mentor Properties to Canyon Place,” Koskovich said.

Hahn, Sherman and Koskovich specialize in the sale of multifamily investment real estate in the Southwest. Colliers HSK Multifamily is positioned within the marketplace as a service intensive operation serving the private and institutional capital markets.

Hahn can be reached at (602) 222-5105, Sherman should be contacted at (602) 222-5109 and Koskovich is at (602) 222-5145.

TORONTO, Sept. 16, 2013 – Augusta Resource Corporation (TSX/NYSE MKT: AZC) has been informed that the US Forest Service (USFS) has announced a completion date of November 2013 for the Final Environmental Impact Statement (FEIS) for its Rosemont Copper project.

Rosemont’s Record of Decision (ROD) will be released following a new USFS rules process that will come into effect on September 27, 2013. The new process stipulates a resolution period as opposed to an appeals period for the ROD. Under the former process, after a ROD is signed, appeals may be filed and final resolution of appeals would take up to 105 days. Under the new process for Rosemont, when the FEIS is released, a draft ROD will be issued for public comment. The new process is statutorily limited to a 90-120 day period, which is comprised of 45 days during which parties may provide objections to the draft ROD, followed by a 45-day resolution period for the USFS, with the option of one-30 day extension, after which the final ROD will be issued with no subsequent appeal period.

It should be noted that only parties that have provided substantive comments to the record during prior public comment periods will be given standing to comment, and only those comments that have met a certain level of significance will be moved into the resolution period. All comments filed by the public will be reviewed and responded to according to the USFS.

The Army Corps of Engineers’ Clean Water Act 404 Permit is expected to be released subsequent to the issuance of the FEIS, in the fourth quarter of 2013.

“We are pleased to see the USFS move the FEIS and ROD documents towards completion and provide a certain process with dates for finalization,” said Gil Clausen, Augusta’s President and CEO. “The new regulations provide a more defensible process and remove the administrative appeal process, while following a similar time frame. This allows us to commence construction at Rosemont according to our planned project schedule when project debt financing is in place and detailed construction engineering is at least 75% complete.”