John Jacobs El Parador Restaurant and Cantina announced its closure Thursday after serving Tucsonans for 40 years at 2744 East Broadway in Tucson.

Beginning in 1946 on Miracle Mile with Club 21, John Jacobs Mexican food to the Tucson community. John’s children, Loretta, Donald and Daniel, continued his legacy at El Parador. The children said in a statement released on Thursday, “We are grateful to the Lord for the continued health of our parents, John and Cecelia, at age 90. Their experience, vision, knowledge and entrepreneurial spirit guide us still today.”

The family thanked the community for placing “their trust and faith in us hosting their wonderful family celebrations. Also, special thanks to the many businesses and professional groups that met weekly and monthly at El Parador. We have enjoyed serving you, our guest; in our beautiful Tropical Garden restaurant. It is a blessing to have been a part of your lives.”

Honored as one of ‘Tucson’s Treasures’ by Arizona Highways in 2010 that said, “no other place exemplified the warmth of Tucson like El Parador… it’s floor to ceiling plants adorned with twinkle lights and beautiful 65 year old flagstone floors welcomed you each time you entered.”

The family extends their “eternal gratitude to their amazing employees. As part of our family, they held us together and we thank them for their understanding, patience and endurance… especially these past 4 years. We trust you will welcome any of our employees into your family, especially those whose commitment is so outstanding, Ruthann Molina, Julie Philcox, Alex Gutierrez and Jeannie Tucker who have invested 15 years. Crissy Arrellano 13 years, Terry Doty 11 years, Mark Noriega 10 years, Terry Forrest 10 years and Brandon Foltz 9 years.”

In closing the family writes, “Our Family thanks you and will miss you.”

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With office activity pretty much flat since 2012, a sudden surge in office condominium sales in the Northwest Foothills area of Tucson is seen as encouraging.

NORTHWEST SUBMARKET
Dr. Mikel Lo, About Faces Cosmetic Surgery, purchased a 5,225 sq. ft. class-A medical condo building at La Cholla Medical Park on the Northwest Medical campus, 5940 N La Cholla Blvd. in Tucson for[mepr-show rules=”58038″]$1.13 million ($216 PSF). The building (built 2003) was leased to a single tenant and had economic vacancy for one year when it sold. It will be owner occupied by Dr. Lo for About Faces next year when its lease at 6127 N La Cholla Blvd. expires. Compass Bank of Tucson handled financing. Doug Marsh with Oxford Realty Advisors in Tucson represented the seller, GACD, LLC of Newport Beach, CA. The buyer was represented by Clint Buckelew of Buckelew Realty in Tucson for this transaction.

Doug Marsh commented, “With interest rates being what they are, businesses prefer to buy rather than lease. To accommodate this trend, Oxford has taken on a condo conversion project in the Northwest to convert a retail center into office condos.”

Also at the La Cholla Medical Park on the Northwest Medical campus, 5910 N La Cholla Blvd. sold for $867,000 ($223 PSF) to the Northwest NeuroSpecialists Medical Group. Built in 2004,  the 3,887 sq. ft. four-condo building was move-in ready for buyer that plans to occupy immediately. Alliance Bank handled the

financing. Doug Marsh of Oxford Realty Advisors in Tucson represented the sellers, Mr. & Mrs. Randall Cohen. The buyer was represented by Alan Moore of Chapman Lindsey in Tucson.

“As the office market comes back, it seems natural for medical use to be in the forefront, since medical space needs are the most predictable for long term space requirements,” according to Gary Heinfeld, CCIM of Advisors in Real Estate

Heinfeld sold a 1,200 sq. ft. condo at San Jose Plaza, 10134 N Oracle Road #11 in Oro Valley for $252,000 ($210 PSF) to Oro Valley Weight Loss Clinic, Dr. Robert McCarver of Chandler. This will be the first office in Tucson for Dr. McCarver. Built in 2009, the building was being marketed for lease or lease-purchase. This is the first occupant in the new condo that sold ready to move-in, after paint and flooring is finished for final build out. Gary Heinfeld, CCIM of Advisors in Real Estate represented the seller. The buyer was represented by David Montijo, 1st Vice President and Bruce Suppes, Vice President with CBRE in Tucson.

Domino Pizza purchased a 3,025 sq. ft. office condo for its Tucson administrative office at Magee Corporate Center, 2205 W Magee Rd. in Tucson. The sale price was approximately $386,000 ($128 PSF) for shell condition in this class-A complex. Constructed in 2007, the 24 month road construction project now completed along Magee and La Cholla must be welcomed news. Domino will be next to Arizona Sunset Dental and complete the tenancy in this building. Tom Nieman and Rick Kleiner, MBA, Principals and Office Specialists with Cushman & Wakefield / Picor Commercial Real Estate Services handled the transaction.

Nieman reported that Magee Corporate Center at the southwest corner of Magee & La Cholla has only one 2,251 sq. ft. shell condo remaining and the developers are considering whether or not the time has come to build another shell office building.

Craig Courtney, owner and developer of Magee Center Office Condominiums, on the northwest corner agrees, “There seems to be signs of a shortage in office inventory coming to the Foothills; but added, as long as there exists such a wide gap in pricing between ‘buying new’ versus ‘refurbished’, it’s challenging to know if new construction is warranted.” Courtney has plans to develop his corner as 50,000 sq. ft. retail and 20,000 sq. ft. office and potential hotel site

Across the street, on the southeast corner at La Cholla Corporate Center, Amram Dahukey, MD bought a 1,748 sq. ft. medical condo at 7590 N La Cholla Blvd. in Tucson for a Podiatrist office

from Dr. Rosenfeld for $230,000 ($132 PSF). Property was previously occupied by the seller as medical space. Buyer purchased to owner occupy dba Premier Foot and Ankle Surgeons. Nancy Gansline of Oxford Realty Advisors in Tucson represented the seller and David Montijo of CBRE in Tucson represented the buyer in this transaction.

Dr. Wenhui Cai bought a 2,567 sq. ft. condo at Plaza Campana, 6879 N Oracle Rd. #32 & #33 in Tucson for $346,545 ($135 PSF) for investment. The condo located southwest of Ina and

Oracle was vacant at time of sale. This is Cai’s second condo purchase in the complex for investment. John Yarborough of Romano Real Estate handled the transaction. Yarborough has listing for the 2,567 sq. ft. available for lease at an asking rate of $22/SF/modified gross in this class-A complex.

Palm Canyon Dermatology, Dr. Gregory Ertle is relocating from Yuma and purchased the 2,143 sq. ft. condo at 12460 N. Rancho Vistoso Blvd., Ste 110 in Oro Valley for $300,000 ($140 PSF). The space was previously owner occupied dba Desert Day Spa. The clinic will be open for business on September 3 according to the recorded phone message there. We were unable to determine if there were brokers involved.

Marsh and Gansline with Oxford Realty can be reached at (520) 232-0200. Buckelew at Buckelew Realty is at (520) 975-2409. Moore with Chapman Lindsey can be contacted at (520) 747-4000. Heinfeld with Advisors in Real Estate should be reached at (520) 299-0760. At CBRE, Montijo is at (520) 323-5136 and Suppes is at (520) 323-5155. Nieman can be contacted at (520) 546-2728 and Kleiner is at (520) 546-2745 at Picor. Courtney of Courtney Realty can be contacted at (520) 293-8280. Yarborough of Romano Realty can be reached at (520) 577-1000.

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[ismember] 5940 N La Cholla sold on 5/16/2013. Tucson class A office (BOMA class B). The recorded buyer was MTCL, LLC and seller, GACD, LLC. It was in escrow 90-days. Buyer put $175,000 down and financed the balance.
5910 N La Cholla sold on 5/13/2013. Tucson class A office (BOMA class B). The recorded buyer was Four Legged, LLC (Drs. David Weidman, Reuben Hill et al, and seller, Mr. & Mrs. Randall S & Cathryn Cohen of Tucson. The escrow time was 45-days. Buyer put $214,000 down and financed the balance.
10134 N Oracle Rd #11 sold on 6/19/2013. Tucson class A office (BOMA class B). The recorded buyer was Oro Valley Weight Loss Clinic, LLC and seller San Jose Commercial Center Lot 4, Inc. Square footage is appraised SF, assessor uses 1,143 SF. Escrow time was 23 days, all cash.
2205 W Magee Rd #22 & 23 sold on 5/23/2013. Tucson class A office (BOMA class B). The recorded buyer was Team So-Cal, Inc. of Ventura, CA and the seller, Landmark Title Trust #18,183-T, Magee Corporate Center, beneficiary. The space was on the market for sale or lease at $21.96 / SF. Escrow time: N/Av, all cash transaction.
7509 N La Cholla sold on 6/3/2013. Tucson class A office (BOMA class B). The recorded buyer was 7590 La Cholla, LLC and the seller, Rosenfeld Building, LLC of Virginia Beach, VA. Square footage is per tax assessor. Escrow time: N/Av, all cash.
6879 N Oracle sold on 4/25/2013. Tucson class A office (BOMA class B). The recorded buyer was Cyan, LLC and the seller, San Carlos Institute of Art & Design, Inc. of Tucson. Escrow Time: N/Av, all cash. The other condo Dr Cai purchased last year by this same buyer is currently leased on a short term lease to Nova Homes.
12460 N Rancho Vistoso Blvd sold 4/25/2013.Tucson class A (BOMA class B). The recorded buyer was Gregory A & Sue A Ertle, the seller PR Properties, LLC Pamela Crim. Escrow Time: N/Av, all cash deal. SF is per buyer, tax assessor shows 2,119 SF. [/ismember]

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Arizona Auto Spa is a Tucson-based company founded in 2008. Through its extensive research, it is proud to be the first to bring the latest in cost-saving, automated car wash technology to Tucson.

The company currently owns and operates three other locations using this technology: 3150 E Grant Road at Country Club & Grant, 1435 W River Rd at River & La Cholla Blvd. and 6301 E 22nd Street at Wilmot and 22nd Street. A fourth location owned by the company was purchased operational and is a different type of car wash.

Its latest acquisition at 5075 S Midvale Park Road in Tucson is 1.33 acres of vacant land, located at the southeast corner of Midvale Park and Irvington, next to a Dollar General store. This site will be used to construct its fifth Auto Spa location in Tucson. The property was bank owned by City Bank of Texas when it sold[mepr-show rules=”58038″]in an REO sale for $375,000 ($6.50 PSF) to Doover Management, LLC of Tucson. After 9-months in escrow, the property was successfully rezoned from C-1 to C-2 for this specific auto-use.

In a subsequent in-house transaction, the property transferred from Doover Management to SNS Investments of Ackron, OH for $452,000 as a joint venture.

We were told the new Auto Spa at Midvale Park and Irvington would be similar to the one at 22nd and Wilmot, which is a 3,840 sq. ft. building, built in 2010, on approximately 1.3 acres.

The company is always hiring. Applications can be found on its website at: https://www.arizonaautospa.com/employment/

Rob Tomlinson, Retail Specialist with Cushman & Wakefield / Picor Commercial Real Estate Services in Tucson represented the bank in these transactions. The buyer was self-represented.

Tomlinson can be reached at (520) 546-2757.[/mepr-show]

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[ismember] The REO sale from City Bank of Texas to Doover Management sold on 4/30/203 for $375,000 in document #2013-1200920. It was this transaction that was in escrow for 9 months for rezoning. In a subsequent document #2013-1700750, Doover transferred property to SNS Investments of Ackron, OH for $452,000 on 6/19/2013 in an all cash transaction. Nathan Lawson (520) 247-4868, representing Arizona Auto Spa, asked not to use his name in the story.[/ismember]