The Tangerine Commerce Park at 7753 W Tangerine Road in Marana broke ground Tuesday. The new industrial / office park is block platted for 10-lots zoned F-Planned Development in Marana.

Rancho Palomita Associates, LLC of Tucson (Richard Spross, managing member) purchased the 50 acres of land in 2008, and in February 2012 split off and sold 16 acres to Republic Services of Arizona Hauling, LLC affiliate, Allied Waste Industries of Scottsdale, for a transfer station.

The remaining 33-acres will be known as Tangerine Commerce Park with lots from 1.3 to 5.55 acres available. The new industrial complex is located just off Interstate-10 on Tangerine Road. This is the only industrial development along the quickly developing Tangerine Corridor and offers utilities to lot line.

Tony Reed of Long Realty in Tucson has the assignment of marketing these lots. Reed had this to say, “We are very excited to be breaking ground at Tangerine Commerce Park. The timing seems right for an industrial project of this scope in business-friendly Marana. Being located at I-10 and Tangerine is a very desirable site for many businesses that want to be in the Northwest and have easy access to Interstate-10.”

Reed should be reached at (520) 918-5189.

High-end boutique commercial brokerage firm, Rein & Grossoehme of Scottsdale has established a new regional office in Tucson. Founded in 1993, the firm is celebrating its 20^th anniversary. Rein & Grossoehme specializes in the sale of shopping centers, office and industrial buildings, self-storage, single tenant triple net leased properties and commercial land & pads.  They also market shopping centers, office buildings and industrial buildings for lease and represent tenants in site selection.

Expanding its presence statewide, the Tucson office will help to better serve clients in Southern Arizona. The new office is located at 6363 N. Swan Road, Suite 200 in Tucson. Local agents include Associate Brokers, Bob Davis, Sandy Alter and Tom Hunt, all formerly with NGKF in Tucson.

Mark Rein, principal and designated broker, told us he sees the commercial real estate market on the verge of coming back. There are a lot of  similarities with today’s market and that of the early ‘90s. “We were just starting in 1993 and then all of a sudden commercial real estate took off and we became one of the market leaders in Phoenix,” Rein said.

Openings are available for experienced agents seeking high commission splits and a strong support structure. Perks include: very aggressive fee splits – escalating up to 90%, responsive support staff, comprehensive property databases, state of the art research & marketing tools, and a highly cooperative office environment.  Furthermore, Rein & Grossoehme is well known and has an excellent reputation; offering an alternative for either the seasoned veteran or someone relatively new to the business.

According to Rein, “Unlike many other commercial brokerages, our agents are very cooperative and synergistic. It is common for agents with different specialties to team up to best represent the interests of a client. We also work closely with other brokerage firms and make information on our listings easily accessible to them.”

“We pride ourselves on being flexible and adjusting to our clients’ needs. We are committed to maintaining the latest technologies in order to provide the highest level of service in the industry. As good as we are, we strive to improve our level of service and encourage our agents to ‘raise the bar’ when it comes to finding ways to do things better. This philosophy has allowed our company to compete at a very high level. Our clients are the ultimate beneficiary,” Rein added.

For more information on the firm, visit the Rein & Grossoehme website at www.high-yield.com Mark Rein can be contacted directly at (480) 214-9414. Sandy Alter, Tucson’s branch manager can be reached at (520) 275-3328. The main number for the new Rein & Grossoehme Tucson office is (520) 222-7302.

A multifamily investor, AHF American Homes Fund (USA), LP, an Arizona limited partnership, purchased a 50 Single Family Home Rental Portfolio in Phoenix for $4.4 million ($88,000 per unit). The Phoenix investment is the buyer’s third bulk single-family home purchase in the past 11 months.

The 50 Single Family Home Portfolio is comprised of fifty existing single-family detached homes located throughout metropolitan Phoenix. The rental portfolio consists of three, four and five bedroom homes, all had been recently updated and well maintained. Forty-eight (48) of the homes

were rented at time of sale.

Victoria Miachika, Natan Jacobs and Les Litwin, specialized in Multi Family Investment sales and Advisory Services, with the Vestis Group of Phoenix negotiated the sale of the fifty single family home portfolio for the buyer.

The seller was MGF Funding, Inc. of Mesa, Arizona (Brian A. Mortensen, president).

Miachika says the buyer is well capitalized and interested in additional bulk single-family home investment opportunities in the Metropolitan Phoenix area.

The Vestis Group team of Miachika, Jacobs and Litwin should be reached at (602) 387-5330.