INDUSTRIAL SPACE – 1625 S EUCLID AVE., TUCSON
TMI Acquisition, LLC (Stephen Tooker, President) dba Tattoo Manufacturing International leased a 42,500 sq. ft. industrial building at 1625 S. Euclid Avenue in Tucson. Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant in the transaction while Rob Glaser, SIOR, CCIM and Russell W. Hall, SIOR, GSCS Principals and Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord, 1625 South Euclid Avenue, LLC (Michael & Linda Naifeh).

Tattoo Manufacturing International (TMI) is the world’s largest designer and manufacturer of non-toxic, hyporallergenic, FDA certified, temporary tattoos that comply with CSPC/CPSIA and ASTM requirements. TMI was recently named the 2013 Pacific Region Small Business Exporter of the Year by the U.S. Small Business Administration. The company was named the Arizona Small Business Exporter of the year in April by the state’s SBA office. Based in Tucson, TMI is an Arizona exporter that ships to more than 80 countries, including weekly exports to Australia, Canada, Denmark, Japan, New Zealand, the United Kingdom and South Africa. The company has more than 100 employees and prints seven million temporary tattoos every day in its Tucson manufacturing facilities. TMI has a 90 percent market share in North America and a 65 percent share globally. The company has partnered with more than 65,000 businesses and other organizations to provide custom and corporate temporary tattoos. TMI remains committed to manufacturing all of its products, including temporary tattoos, stickers, paint books and coloring posters, in the United States. The company designs and manufactures all of its products in Tucson, AZ. The company’s products have a worldwide reputation for quality.

Visit https://www.tattoosales.com or call 1-800-747-8016 for more information.

INDUSTRIAL SPACE – 1121 W GRANT ROAD, STE 405-409, TUCSON
SysTech International, LLC expanded their space to 6,000 sq. ft. at 1121 W. Grant Road, Suites 405-409 in Tucson. Systech and Environmental Systems Products (ESP) are merging to form Opus Inspection, the only fully vertically integrated company in the vehicle inspection industry. Stephen D. Cohen, and Russell W. Hall, SIOR, GSCS, Industrial Specialists and Principals with Cushman & Wakefield | PICOR, represented both the tenant and landlord Sloat Family Partnership, LLLP in this transaction, which also involved the relocation of Dynamic Foot Technologies (e-soles) to another space in the business park.

INDUSTRIAL / FLEX SPACE – 4605 S PALO VERDE RD, TUCSON
Paragon Space Development Corp. leased 4,980 sq. ft. at 4605 S. Palo Verde, Suite 605 in Tucson, from Presson Equity partners LLP (Daryl Burton). The space is 95% office with one grade level door. Rob Glaser, SIOR CCIM, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Dave Gallaher with Tucson Industrial Realty of Tucson represented the tenant.

Paragon was started essentially to bring together aerospace engineering and life sciences to develop life support and thermal control systems for extreme environments. Husband and wife team, Taber MacCallum and Jane Poynter, were both part of the Biosphere 2 experiment, living in isolation from 1991 to 1993, and the two founders of Paragon that started in Tucson at the conclusion of the Biosphere 2. MacCallum is involved in the design of life support and thermal control systems for commercially manned suborbital spacecraft, as well as hazardous environmental life support technology development for U.S. Navy divers. Poynter holds the patent for ‘Autonomous Biological System’, a payload life support technology that was used to support the life of aquatic animals in experiments that resulted in the first animals to complete multiple generations in space. She has logged more the three years of experiment time in space on the Shuttle, Mir and International Space Station, where she spent 18-months.

Today, the world’s first space tourist, multimillionaire Dennis Tito, has plans to send two humans to Mars and back on a nonstop, 501-day mission, with the launch envisioned for January 2018 and Paragon is at the center of this trip. The audacious project, which Tito is bankrolling out-of-pocket for the first two years, is driven by a mixture of motives: part America first, part research, and an enormous dash of what he and his partners hope will be inspiration to a nation whose government space program is caught between tight budgets and an unclear direction for its human spaceflight effort.

Paragon, based out of Tucson has additional offices in Houston, Texas; and Denver, Colorado.

INDUSTRIAL SPACE – 2001 E 14TH STREET, TUCSON
Chaos Elite, LLC, (Luis Ortega) formerly known as SCI Pride, leased 4,390 sq. ft. at 2001 E. 14th Street in Tucson. Chaos Elite, now sister gym to AZ Power is Tucson’s newest, biggest most innovative cheerleading, tumble, jazz and Hip-Hop training center. Brandon Rodgers, CCIM, Industrial Specialist, with Cushman & Wakefield | PICOR, represented the tenant in this transaction. Ash Tucson Properties, LLC the landlord was self-represented.

INDUSTRIAL SPACE – 1639 W GRANT ROAD, TUCSON
Golden State Overnight Delivery Services, Inc. aka GSO, (Morley Chandler, CEO) leased 3,300 sq. ft. at 1639 W. Grant Road in Tucson from Rich Rodgers Investment, Inc. Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Dave Blanchette with CBRE of Tucson represented the tenant. GSO was founded in 1995 with a simple notion: that California companies should not be required to pay high national delivery rates for in-state shipments. Today, GSO offers guaranteed ground and priority overnight delivery to every address in California, and select metropolitan areas of Nevada and Arizona.

INDUSTRIAL SPACE – 2015 N FORBES BLVD., SUITE 10, TUCSON
Reliance Commercial Construction (Peggy Noonan) leased 1,920 sq. ft. lease at 2015 N. Forbes Boulevard, Suite 10 in Tucson from Forbes Tucson, LLC (Daryl Burton). Reliance will be relocating from 3540 S Campbell Avenue in Tucson. Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the Landlord in this transaction.

Reliance Commercial Construction is a General Contractor formed in 1995 when Peggy Noonan and Vince Barrtett partnered in Southern Arizona. Since its inception it has worked on numerous construction projects and have specialized in commercial and restaurant projects as well as food service design and equipment. From contemporary to green and sustainable, Reliance has been a company that has been thinking outside the box for over a decade.

A few of the current projects for the company is a remodel of the Ajo Retail Center at 12th Street & Ajo as well as TIs for a new Family Dollar store going in there. It was Reliance that re-imaged the Jack-in-the-Box restaurants recently.

RETAIL SPACE – 995 West 4th Street Ste D, Benson
Russell Cellular, Inc., a Verizon Wireless Premium Retailer, leased 1,472 sq. ft. at 995 West 4th Street, Suite D, in Benson. The space is located in a retail pad building in front of Walmart. The Landlord is Prickly Pear Corner, L.L.C. David Hammack and Brenna Lacey of Volk Company Commercial Real Estate handled the transaction.

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[ismember] 2015 N Forbes Blvd was reported leased at $1230/month/ IG, or $.64 PSF;  tenant pays electric [/ismember

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Aerie at Tanque Verde, an 85-unit detached luxury rental community, located at 2495 N Desert Links Drive in Northeast Tucson sold for[mepr-show rules=”58038″] $12.3 million, setting a new record of $145,000 per unit in the 40+ unit multifamily category. In all fairness,  smaller properties have sold for a higher price per unit in the past, and Aerie is not your typical apartment complex, this unique class-A community is a premier single family housing community.

The gated community has free covered parking, Ramada, swimming pool and spa. Unit amenities include granite counter tops, ten foot ceilings, stainless steel kitchen appliances, wood plank vinyl flooring, two-inch horizontal window blinds, and washer and dryer in all the homes. Sophisticated, state-of-the-art floor plans feature a bright, airy atmosphere with large low-E glass windows delivering spectacular mountain views.

The seller, Alta Vista Communities is a joint venture of Karber Holdings (Roger Karber) and Brav Holding Company (Garry Brav) and affiliate of BFL Construction, the contractor for the communities.

The detached homes were built in 2012, after Alta Vista acquired the 6.3 acres of infill property for $1.6 million from the Lewis family that owned it for generations. The community consists of 1, 2 and 3 bedroom single-story rental homes ranging in size from 635 sq. ft. to 1,244 sq. ft., all with private rear yards. Monthly rents range from $819 to $1,195 per month.

The community was reported to be 100% leased at time of sale with some two year lease terms.

Aerie has three other infill rental communities in the Tucson region: Aerie4050 (built 2012) at 4050 W Aerie Drive, Marana, AZ 85741 is now renting with plans to start construction across the street from this project on Aerie Drive. Aerie1000 at 1000 W River Road, Tucson, AZ is under construction for 68-detached homes, and one month away from opening. Aerie Preserve on Orange Grove at 2501 W Orange Grove Rd, Tucson, AZ 85741 is also under construction, with six homes completed at time of publication.

Aerie is also developing in the Phoenix area, at the northeast corner of Alma School and Pecos Road there is a 112-home community, “Aerie at Alma School & Pecos East” is scheduled to open October 2013.

The buyer for Aerie at Tanque Verde is Tanque Verde Holdings, LLC of Santa Barbara, CA (Bart Clemens, Manager) that was coming out of a 1031 exchange and purchased for a hands-free investment.

MEB Management Services of Tucson, with also a Phoenix office, handles the management and leasing for all the Aerie Communities and has been retained by the new owners for Aerie at Tanque Verde.

The transaction was negotiated by Art Wadlund of Hendricks-Berkadia in Tucson for the seller.

Karber can be reached at (520) 977-5456. Brav with BFL can be contacted at (520) 882-4800. Clemens is at (805) 963-0669. Wadlund should be reached at (520) 299-7200. MEB can be contacted at (520) 620-1640 for rental information at any of the Aerie communities.[/mepr-show]

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[ismember]Sale date: 7/2/2013. Sale price $12,300,000 with $3,524,209 down payment and a loan assumption. This was the buyer’s upleg in a 1031 exchange. Exact price per unit: $144,706.

Income: GPI annualized as of May, 2013 was $1,058,734. Rental loss ($144,415), with a total GSI of $914,319. Miscellaneous income was $77,763, total collected income was $992,082. Operating expenses including $200 per unit reserves were $297,823. Property sold with an NOI of $694,259 and at a 5.64% cap rate based on annualized income at time of sale.

The unit mix is 18 (21%) one-bedroom (635 SF),  38 (45%) two-bedrooms/ 2 bath (922 SF) and 29 (34%) three-bedrooms/ 2 bath (1,244 SF). Total buildings size: 82,542 SF on 6.3 acres.

Escrow opened April 15 and closed July 2. Market time was about 60 days.[/ismember]

A new joint venture has been inked between Mark Taylor, Inc. of Scottsdale (Scott Taylor, President) and the Kitchell Development Company of Phoenix (Jeffrey Allen, President) for a new destination retail and luxury apartment complex in Oro Valley. Mark Taylor and Kitchell have partnered in the past for other Phoenix projects, but this is the first for the Tucson area.

The project deemed “San Dorado” will be at 10706 N Oracle Road in Oro Valley, located at the southeast corner of First Ave and Oracle, backing up to La Reserve and Pusch Ridge views on approximately 25 usable acres. On this site, Kitchell will be building a unique, walkable shopping destination on the southerly portion of the property, while Mark Taylor is developing a 275-unit luxury apartment complex to the north.

Chris Brozina, Vice President at Mark Taylor, Inc. said, “We are very pleased to be partnering with Kitchell on another venture. The retail portion of this project will be upscale, like nothing Oro Valley has seen before, with resort-style landscaping and pavers that lead to fountains at the entry. It will be very exclusive with smaller boutiques, and a destination shopping center for the region.”

Kitchell, an employee-owned company, was established in 1950. During the past decade, it has built more than five-million-square-feet of retail space, both as a developer of community and neighborhood shopping centers and as a builder of large regional malls and lifestyle centers.

Mark-Taylor is an award-winning company excelling in apartment development, building, and management. The privately-held Arizona-based company was established in 1990. To date, it has developed more than 15,000 apartment units in Arizona and Nevada where its communities deliver a lifestyle as well as beautifully appointed apartment homes.

As with all of Mark Taylor’s apartment homes, the San Dorado will be a gated community with such luxury amenities as a lagoon pool, gym, granite counter tops, clubhouses and a sand volleyball area. The rental units will have attached garages and be housed in two- and three-story buildings, designed for each unit to take full advantage of the Pusch Ridge views. The unit mix will be one- two-and three-bedrooms ranging in size from 770 sq. ft. to 1,420 sq., ft., and on average, 1,100-square-feet. The Oro Valley complex will be similar in design and floor plans to the recently competed ‘San Capella’ in Tempe.

The whole project has been in the works with the Town for over a year, between rezoning and approvals needed. “Today,” Brozina told us, “we received the grading permit to proceed with the project and if all goes as planned we expect to be preleasing by January 2014, with first building ready for occupancy sometime in May.”

This is not the first development in the area for Mark Taylor. It developed San Ventana Apartments, now called Veranda at Ventana Condominium at 5751 N Kolb Road, at Kolb and Sunrise, back in 1996. Built as rentals, the property was a condominium conversion in 2005.

Brozina says the company will act as its own general contractor on the project and hiring locally for management when complete. The company is also open to more development opportunities in the Tucson region.

Brozina can be reached at (480) 991-9111.

[ismember]Non-arm’s length transfer was 7/10/203 Brozina reported that it has been 18 months working with the Town of Oro Valley to reach permit stage. Mark Taylor acts as its own General Contractor and will manage property itself. Kitchell transferred the 27.82 gross acres of land at a $2 million value ($1.65 PSF) into the joint venture entity, Villas at San Dorado, LLC in a non-arm’s length transaction. [/ismember]