Linda Vista Luxury Rentals Officially Opens in Oro Valley

ORO VALLEY, AZ (March 20, 2024) — Linda Vista Luxury Rentals, an Aerie Development project at 375 E Linda Vista Blvd in Oro Valley, held its Grand Opening on Tuesday in coordination with the Oro Valley Chamber of Commerce.

Having just received its COO, MEB management, the leasing and management company, has started leasing units in the ever-growing Oro Valley.  The 54-unit community consists of (12) one-bedroom and (42) two-bedroom units.

Amenities include covered parking, spa/hot tub and pool. Apartments include A/C, walk-in closets, dual-pane windows, electric oven and stove, microwave, quartz countertops, patio/balcony, in-unit washer/dryers, ceiling fans, refrigerator, garbage disposal, and all vinyl plank flooring.  They also allow pets.

The Town of Oro Valley recently commissioned a comprehensive housing study by Elliott D Pollack & Company to determine its current standing regarding housing and how the Town’s housing is responding to the needs of current and future residents.

The study found that there is a significant demand for rental properties. The housing mix in Oro Valley may, in effect, restrict renters from living in the community.

Oro Valley has a high percentage of single-family detached units (73%) compared to multifamily units (19%). An estimated 13.7% of the housing stock is located within traditional apartment communities, with 759 short-term rentals with 264 available year-round.  Approximately 3,677 SFRs are rented compared to 2,750 apartment-style units.

The apartment vacancy rate for Oro Valley has been low (at or below the stabilized vacancy of 7%), indicating a significant demand for rental properties.

Learn more about the Oro Valley Housing Study at Where OV Lives | OVPathForward and about Linda Vista Luxury Rentals here.




Industrial Buildings Sell to Las Vegas Document Shredding Business for $4.5 Million

Tucson, AZ (March 19, 2024) — Three Industrial Buildings Sold at 1440 S Euclid Avenue & 602 E 24th Street, in Tucson for $4.5 million ($77 PSF). Built in 1972, the buildings comprise 58,661 square feet on a 3-acre lot.

The buyer is a document shredding company, Assured Document Destruction, Inc., based in Las Vegas, NV. It plans to occupy the building at 1440 S Euclid Avenue and lease the remaining two buildings.

Krosswood Doors leased and occupied all three buildings before the sale — two at 602 E 24th Street and one at 1440 S Euclid Ave. The property at 1440 S Euclid last sold for $450,000 in February 2012, and 602 E 24th St. last sold for $940,000 on April 15, 2019.

Pat Welchert with Alpha Commercial Real Estate Service of Tucson represented the buyer, Assured Document Destruction, Inc. (Las Vegas, NV) c/o Alexis Henri Cordier, member.

Derrick Sinclair with Terramar Properties of Tucson represented the seller, 20th Street 691, LLC (Tucson), c/o John Ochoa, manager.

For additional information, Sinclair can be reached at 520.577.7800, and Welchert should be contacted at 520.360.9397.

To learn more, see RED Comp #11141.




Tucson Commercial Lease Report – March 11-15, 2024

TUCSON, ARIZONA (March 18, 2024) — Highlighted this week is a 10,000-square-foot retail lease at Ventana Village Shopping Center, 6884 E. Sunrise Dr. Suite 150 in Tucson to Daiso USA LLC.  Dave Hammack with Cushman & Wakefield | PICOR, represented the landlord. Steve Lenz with Frontera Development, LLC, represented the tenant.

The following leases were reported to Real Estate Daily News from March 11-15, 2024.

RETAIL – 6884 E SUNRISE DR., TUCSON, 85750 – Northeast Submarket
Daiso USA LLC leased 10,000 square feet of retail space at Ventana Village Shopping Center, 6884 E. Sunrise Dr., Suite 150 in Tucson, from EREP Ventana II, LLC. Daiso is a large franchise retail chain founded in Japan. This is its first store in Tucson, offering various unique and affordable products across multiple categories, such as household goods, stationery, food, crafts, hobbies, beauty, toys, gifts, and more. The company operates over 6,000 stores across the globe, and 100+ of those in the U.S. Dave Hammack, Principal and Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord. Steve Lenz with Frontera Development, LLC, represented the tenant.

MEDICAL OFFICE – 1555 E RIVER RD., TUCSON, 85718 – Northeast Submarket
Banner—University Medical Group leased 8,014 square feet of Medical office space at 1555 E. River Rd., Suite 125 in Tucson, from OSM, L.L.C. Richard M. Kleiner, MBA, Principal, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord. Vicki Robinson represented the tenant with Jones Lang LaSalle Americas, Inc..

RETAIL (RESTAURANT) – 605 N 4th AVE., TUCSON, 85705 – Central Submarket
Ah, Huevo Mexican Bar and Grill leased 2,900 square feet of restaurant and patio space at 605 N. 4th Ave. in Tucson from Pelican 4th Ave LLC. Aaron LaPrise and Dave Hammack, Principals and Retail Specialists with Cushman & Wakefield | PICOR, handled the transaction.

INDUSTRIAL – 2420 W RUTHRAUFF RD., TUCSON, 85705 – Central Submarket
TN Holdings, LLC, dba Fresh Home Solutions, and Rising Solar LLC expanded their lease with Pegasus Tucson Owner LLC for 2,635 square feet of industrial space at Ruthrauff Commerce Center, 2420 W. Ruthrauff Rd., Suite 160 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE – 1955 W GRANT RD., TUCSON, 85745 – West Submarket
Pinnacle Performance Group, Inc leased 2,488 square feet of office space at West Grant Centre, 1955 W. Grant RANT RD., TUCSON
Rd., Suite 160 & 165 in Tucson, from WestGrant Investors, LLC. Molly Gilbert, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – 220 E 27TH ST., TUCSON, 85713 – South Submarket
Sabino Flooring & Roofing, LLC leased 1,600 square feet of industrial space at 220 E. 27th St., Suite G in Tucson, from Tin Cup Properties, LLC. Alex Demeroutis, Jesse Blum, Principal, and Paul Hooker, SIOR, Principal, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

RETAIL – 2956 N CAMPBELL AVE., TUCSON, 85719 – Central Submarket
Hong Kong Spa LLC leased 1,000 square feet of retail space at Campbell Plaza, 2956 N. Campbell Ave. in Tucson, from DSW IREIF Tucson Retail Owner, LLC. Dave Hammack, Greg Furrier, and Natalie Furrier, Retail Specialists with Cushman & Wakefield | PICOR, represented the landlord.

RETAIL – 7000 E TANQUE VERDE RD., TUCSON, 85715 – Northeast Submarket
Cellular Research Systems, LLC leased 968 square feet of retail space at Santa Fe Square, 7000 E. Tanque Verde Rd., Suite 10 in Tucson, from Santa Fe Square / Conley Holdings LLC. Dave Hammack, Principal and Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE (MEDICAL) – 2302 W SPEEDWAY BLVD., TUCSON, 85719 – Central Submarket
Sunrise Family Medicine, PLLC leased 643 square feet at 2302 E. Speedway Blvd., Suite 208, from Professional Center, LLC.  Cameron Casey of Oxford Realty Advisors represented the tenant and the landlord in this transaction.

OFFICE – EL DORADO SQUARE, 1200 N EL DORADO PL., TUCSON, 85715 – Northeast Submarket
Massage by Yovonka, LLC leased the 450-square-foot space, Suite A-145 in Building A at El Dorado Square. Isaac Figueroa with Larsen Baker represented the Landlord and handled the transaction.

OFFICE – 2713 N CAMPBELL AVE., TUCSON, 85719 – Central Submarket
Yes Mobile Notary & Signing Agent LLC leased 235 square feet of office space at 2713 N. Campbell Ave., Office 3 in Tucson, from Marquez Campbell LLC. Molly Gilbert, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord. 

RENEWALS

OFFICE / FLEX – 4775 S BUTTERFIELD DR., TUCSON, 85714 – South Submarket
CSL Plasma renewed 16,451 square feet of office/flex space at Butterfield Business Park, 4775 S Butterfield Dr., Suite 175-195, in Tucson. Elaina Elliott, CCIM and Isaac Figueroa, CCIM handled the transaction on behalf of the landlord, an affiliate of Larsen Baker.

OFFICE (MEDICAL) – 2260 W ORANGE GROVE RD., TUCSON, 85741 – Northwest Submarket
United Urology Group renewed their lease with NWO URO, L.L.C. for 9,065 square feet of Medical office space at 2260 W. Orange Grove Rd., in Tucson. Richard M. Kleiner, MBA, Principal, Office Specialist with Cushman & Wakefield | PICOR, and Lindsey Groom with Cushman & Wakefield Washington, DC, represented the tenant. Alan Laulainen with NNN Properties – Arizona, LLC, represented the landlord.

RETAIL – 405 E WETMORE RD., TUCSON, 85705 – Central Submarket
Aaron’s renewed 6,833 square feet of retail space at Tucson Place, 405 E Wetmore Rd. Suites G 129-155, in Tucson. Elaina Elliott, CCIM and Isaac Figueroa, CCIM handled the transaction on behalf of the landlord, an affiliate of Larsen Baker.

RETAIL (DENTAL) – 3250 N CAMPBELL AVE., TUCSON, 85719 – Central Submarket
Heartland Dental renewed 4,683 square feet of retail space at Campbell Square, 3250 N Campbell Ave, Suite 116 in Tucson. Elaina Elliott, CCIM and Isaac Figueroa, CCIM handled the transaction on behalf of the landlord, an affiliate of Larsen Baker.

OFFICE (MEDICAL) – 4475 S I-19 FRONTAGE RD., GREEN VALLEY, 85614 – South Submarket
Pima Heart Physicians, P.C. renewed their lease with TMC Holdings, Inc. for 4,618 square feet of Medical office space at Santa Cruz Hospital Medical Offices, 4475 S. I-19 Frontage Rd., Suite 125 in Green Valley. Richard M. Kleiner, MBA, Principal, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE – 6268 W GRANT RD, TUCSON, 85712 – Northeast Submarket
Coronado Internal Medicine renewed 2,400 square feet of medical office space at Wilmot Professional Plaza, 6268 E Grant Rd, in Tucson. Elaina Elliott, CCIM and Isaac Figueroa, CCIM handled the transaction on behalf of the landlord, an affiliate of Larsen Baker.

RETAIL – 7288 E BROADWAY BLVD., TUCSON, 85710 – Northeast Submarket
Starbucks renewed 1,549 square feet of retail end cap with drive-thru space at Circle Plaza, 7288 E Broadway Blvd., Suite 150, in Tucson. Elaina Elliott, CCIM, and Isaac Figueroa, CCIM, handled the transaction on behalf of the landlord, an affiliate of Larsen Baker.

RETAIL – 485 E WETMORE RD., TUCSON, 85705 – Central Submarket
Sally’s Beauty renewed its 1,400 square feet of retail space at Tucson Place, 485 E Wetmore Rd. Suites H 103, in Tucson. Elaina Elliott, CCIM, and Isaac Figueroa, CCIM, handled the transaction on behalf of the landlord, an affiliate of Larsen Baker.

RETAIL – 405 E WETMORE RD., TUCSON, 85705 – Central Submarket
Cricket renewed 1,345 square feet of retail space at Tucson Place, 405 E Wetmore Rd, Suite 105, in Tucson. Elaina Elliott, CCIM, and Isaac Figueroa, CCIM, handled the transaction on behalf of the landlord, an affiliate of Larsen Baker.

RETAIL – 1685 W VALENCIA RD., TUCSON, 85746 West Submarket
Midvale Chiropractic renewed its lease with Olsen Avenue Associates, LLC, for 1,280 square feet of retail space at Midvale Plaza, 1685 W. Valencia Rd., Suite 101, in Tucson. Dave Hammack, Principal and Retail Specialist with Cushman & Wakefield | PICOR represented the landlord.

INDUSTRIAL – 1684 S RESEARCH LOOP, TUCSON, 85710 – East Submarket
Southwest Associates, L.L.C., dba Meridian Surveying & Development, renewed their lease with Pegasus Tucson Owner LLC for 1,240 square feet of industrial space at Clairemont Plaza, 1684 S. Research Loop, Suite 530, in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

RETAIL – 3020 W VALENCIA RD., TUCSON, 85746 – West Submarket
Barber Brothers renewed 1,180 square feet of retail space at Manzanita Plaza, 3020 W Valencia Rd, Suite 270, in Tucson. Elaina Elliott, CCIM and Isaac Figueroa, CCIM handled the transaction on behalf of the landlord, an affiliate of Larsen Baker.

Submit sales and leases to REDailyNews@outlook.com.