NW Allied Physicians Building Sells for Investment at $2.9 Million

7890 N Cortaro Rd, Marana, AZ

MARANA, ARIZONA – A subsidiary of Diamond Ventures in Tucson (Bill Kelly, CFO) sold the building occupied by Northwest Allied Physicians at 7890 N Cortaro Road in Marana for $2.875 million ($368 PSF).

The 7,805-square-foot build-to-suit was built by the seller in 2017 and is fully occupied by Northwest Allied Physicians Cortaro.

Northwest Allied Physicians specialize in family medicine, gynecology, gynecologic surgery, internal medicine, cardiothoracic surgery, women’s imaging, orthopedics, gastroenterology, endocrinology, and more.

With offices located conveniently throughout the northwest Tucson area, the physicians of Northwest Allied Physicians are at the center of the range of services offered by Northwest Healthcare Network and can coordinate care with Outpatient Imaging, The Women’s Center, The Wound Care Center at Northwest, Outpatient Therapy, Inpatient Rehab, and Oro Valley’s Sleep Center.

Jaime Medress with Marcus & Millichap of Phoenix represented the Diamond Ventures and Humason Properties of Reno, NV (Robert Humason, Jr., manager) was represented by Todd Blonsley with Marcus & Millichap of Reno.

For additional information, Medress can be reached at 602.687.6778 and Blonsley is at 775.348.5220.

To learn more, see RED Comp #5519.

DR Horton Joins Richmond American at Santa Cruz Meadows in Sahuarita

SAHUARITA, ARIZONA — DR Horton, Inc. purchased 10 finished lots under a rolling option agreement for 93-lots from Tucson Land, LLC at Santa Cruz Meadows in Sahuarita. The price was $51,000 per lot for the 7,000-square-foot lots.

DR Horton is the second builder at Santa Cruz Meadows along with Richmond American that has been building there for close to a year with 22 lots taken down on an agreement to purchase 49 lots at Santa Cruz Meadows.

Richmond American has taken down 22 lots of its 49-lot rolling option at Santa Cruz Meadows.

Tucson Land was represented by Randy Emerson of GRE Partners and DR Horton was represented by Dan Feig of Chapman Lindsey Commercial Real Estate.

For additional information, Emerson can be reached at 520.396.4812 and Feig should be contacted at 520.747.4000.

To learn more, see RED Comp #5510 and RED Comp #5455.

The EMPowerplay DEK Hockey Initiative – Coming to a TUSD School near you!

TUCSON, ARIZONA — The Tucson Unified School District (TUSD) Board gave a unanimous green light to a donation being offered by EMPowerplay, the Arizona Coyotes and Tucson Roadrunners to build a multipurpose outdoor DEK rink at Doolen Middle School at its regularly scheduled meeting Tuesday evening.

Mark Irvin, CCIM, SIOR, of Mark Irvin Commercial Real Estate Services and on the Emeritus Board of the Boys & Girls Club of Greater Tucson, moderated the presentation for the youth sports initiative joint project at the meeting.  Irvin also sits on the Rio Nuevo Board as its Vice Chair/Secretary and was instrumental in helping bring the Roadrunners to Tucson.

The Coyotes, Roadrunners and EMPowerplay partners are intrinsically involved in developing Hockey and youth sports throughout the region and are committed to not only the growth of local hockey, but the development of the program itself and being part of the bigger picture of Tucson youth sports – this not only helps encourage new local participation but exponentially increases the chances of overall success in the region.

In order to achieve this, the DEK initiative removes the need for expensive equipment needed to play hockey and can say: no  ice, no skates, no problem – everyone plays!

Much like TUSD and the City of Tucson itself, the Coyotes, Roadrunners and initiative partners are beyond willing to take the necessary measures and make the needed sacrifices to ensure not only the success of programs like this, but more importantly, the health and well-being of young athletes and community participants.

“This is the first of what we hope are many DEK rinks scattered across Tucson,” said Irvin. “We are exploring similar opportunities with the YMCA and are open to others, especially those with groups who are impacting youth.  Mayor Rothschild has been invaluable as has TUSD Superintendent Gabriel Trujillo and Michael Konrad, the Director of middle schools. They all share a similar and contagious passion for youth.  It’s great to work with the Mayor on something other than Rio Nuevo.  He gets it.  The Boys and Girls Clubs, which will administer the facility, will be outstanding.”

With these goals in mind, the first multipurpose outdoor DEK rink will be built at Doolen Middle School at 2400 N Country Club Road in Tucson, which already houses a Boys & Girls Club Club. The multipurpose rink can be used for other sports besides hockey, including basketball, pickle ball, even volleyball. The project partners, strategy and business development leaders hope to evolve a DEK hockey league system, with multiple locations throughout Tucson including clinics with Roadrunner players.

Construction time for the multipurpose rink is expected to be 8-weeks, once final administrative details are secured, at a final cost to the Arizona Coyotes and Tucson Roadrunners of $195,000, with no cost to TUSD, as part of the private-public partnership.

To learn more, the DEK Hockey Initiative as presented can be found HERE.


Tucson Multitenant Office Complex on Swan Road Sells for $700,000

TUCSON, ARIZONA — The multitenant office building at 800 N Swan Road in Tucson sold to Lerdal 800, LLC (Swain Chapman of Chapman Management,  managing member) for $700,000 ($70 PSF). The seller was a Canadian investment group from Ontario.

The 10,000-square-foot professional class B, office complex was built in 1982 on 1.13 acres and was 85% occupied at time of sale.

“It’s a very nice garden office property, perfect for small professional users,” Chapman commented. “Office suites range from 450 to 800-square-feet, geared for the small professional user.”

Tenants include The League of Women Voters, Acupuncturists, Psychologists and other professional uses in three single story buildings placed in a U-Shape with common courtyard.

For more information, Chapman can be reached at 520.622.5544.

To learn more, see RED Comp #5500.

Five Palms Restaurant in Catalina Foothills Sells for Redevelopment

3500 E Sunrise, Tucson, AZ

TUCSON, Arizona — The former Five Palms Steak & Seafood in the Catalina Foothills at 3500 E Sunrise Dr., Tucson sold for $1.9 million ($148 PSF) for redevelopment. The 12,800-square-foot restaurant was originally built for Café Terra Cotta restaurant that moved from St. Phillip’s Square.

Located on Sunrise east of La Encantada Mall, Five Palms opened in late 2012. Over the years, the business evolved to include culinary concepts like Oliva Mediterranean Restaurant, Dovino Wine and Cigars, and the Five Palms Fine Bar.

One of Tucson’s priciest fine-dining restaurants, where the least expensive steak on the menu would set you back $39 — the same price as the pate de foie gras appetizer.
Five Palms closed in September 10, 2017.

The buyers, Gateway 1048, LLC and WCCP Sunrise, LLC of Torrance, Calif. purchased the property for redevelopment into office use. The 12,800-square-foot, two-story building responds to a growing interest in office space along the Sunrise corridor.

Nancy McClure and Buzz Isaacson with CBRE in Tucson represented the seller, Landmark Assets of Scottsdale and Phil Skillings with NAI Horizon in Tucson handled the transaction, as a principal, for the investors.

For more information, McClure should be reached at 520.323.5117 and Isaacson can be reached at 520.323.5151. Skillings can be contacted at 520.326.2200 ext. 4002.

To learn more, see RED Comp #5520.

Tucson’s Sierra Del Sol Senior Living Sells for $12.32 Million

Sierra del Sol, 8151 E Speedway, Tucson, AZ

TUCSON, ARIZOA — Sierra Del Sol Senior Living at 8151 E Speedway Blvd. in Tucson, Arizona, sold for $12.32 million ($87,980 per bed) to KRE Tiger Sierra del Sol, LLC of New York, NY. The facility is licensed for a 140-bed capacity Memory Care and Assisted Living community. There were 94 assisted living apartments with first and second story views, as well as 36 single story memory care apartments, at the time of sale.

From assisted living to dementia and Alzheimers, the facility caters to the challenges of memory loss for not only residents, but their families, with licensed nurses on-site, in addition to professional care associates.

It sits on 4.68 acres in a beautiful location in Tucson, with residents from all over the region, including Green Valley, Sahuarita, Vail, Nogales, Sierra Vista, and Benson.

Located in Tuscon’s northeast submarket, the property is set on beautifully landscaped grounds, featuring lush courtyards, lovely gardens, walking trails, and relaxing gazebos. Sierra Del Sol is on the edge of beautiful Saguaro National Park East.

Common areas include a grand dining room, cozy living room complete with fireplace, a separate private dining room for intimate family gatherings, library, activity room, pool lounge, movie theater, TV room and outdoor patios. There is also a wide variety of daily activities, from  Sit N’ Get Fit program, to games, music, crafts, socials and more.

Conveniently located close to shopping, banking, dining, parks, and golf, Sierra Del Sol is just minutes from St. Joseph’s Hospital and Tucson Medical Center, as well as many other fine medical facilities in the surrounding area.

The seller was Welltower, Inc. (Thomas DeRosa, CEO) of Toledo, Ohio.

There were not brokers in involved in the transaction.

For more information, login and see RED Comp #5516.

International Sonoran Desert Alliance Continues Assemblage of Ajo Plaza

Ajo Plaza

Ajo, Arizona — Ajo Plaza was purchased by the International Sonoran Desert Alliance (Aaron Cooper, CEO) in 2008 and is in the midst of a multi-year process of restoration and revitalization. Recently, the International Sonoran Desert Alliance was able to expand its purchase with additional land and buildings totaling $1.013 million.

The heart of the community, the graceful plaza, was built in 1917 under the direction of John Greenway’s wife Isabella. The Spanish Colonial Revival style town square features a center park surrounded by retail shops, a post office and restaurants accented with two mission-style churches. The Catholic Church was built in 1924 and the Federated Church in 1926. The plaza with its beautiful center park is truly Ajo’s town center—a place for festivals and celebrations, morning walks, and meeting friends for coffee.

The Ajo Train Depot anchors the town plaza and was designed as the point of arrival from which to view historic downtown Ajo. Built in 1915, the Ajo Depot served the Tucson, Cornelia, Gila Bend railway. It now houses the Ajo District Chamber of Commerce Visitor Center and Gift Shop.

High-grade native copper made Ajo the first copper mine in Arizona and Ajo boomed in 1911. The Tucson, Cornelia and Gila Bend Railroad was built from Gila Bend to serve the mining industry and was in service from 1916 to 1985. In 1921, Phelps Dodge, the nation’s largest copper company, bought New Cornelia and the mine became the New Cornelia Branch of Phelps Dodge, managed by Michael Curley. For several decades more than 1,000 employees worked for Phelps Dodge in the open pit mine. In 1983 union-affiliated mine employees went on strike. The mine continued with non-union labor for a short while before stopping production in 1985

Today, there is 85,000-square-feet of building renovation and restoration in progress in Ajo Plaza.  Businesses currently occupying the plaza include the Chamber of Commerce, Public Library, Post Office, AZ DES, and several non-profit groups and art galleries.

Del Taco Coming to Two New Locations in Gilbert and Queen Creek

PHOENIX, ARIZONA – Brent Veach, of Desert Taco, LLC, a long-time franchisee of Del Taco (the fast food chain specializing in American-style Mexican cuisine) will be opening two new metro Phoenix locations in Gilbert and Queen Creek.

One will be at the northeast corner of Higley Road and Baseline Road in Gilbert, Arizona. The property is in a new development called The Highland, joining Starbucks, Rudy’s Country BBQ, Popeye’s, Hampton Suites, Banner Gateway Medical Center, and more. A new Fry’s Marketplace is slated for the southeast corner of Higley Road and Baseline.

The other Del Taco will be on the corner of Rittenhouse Road and Ellsworth Loop Road in Queen Creek. The Pad is located in Queen Creek Marketplace, a major power center, anchored by Target, Harkins Theatre, PetSmart, Ross, T.J. Maxx, Bed Bath & Beyond, and Kohl’s.

Judi Butterworth and Lacey Eyman of ORION Investment Real Estate facilitated both sales. Butterworth said, “This will be an asset to the local trade area and a great store for Del Taco.”

The Seller of the Queen Creek property was Vestar GCM, LLC. The Buyer was principal Brent Veach of Desert Taco, LLC. Veach has owned Del Taco restaurants as a franchisee for over 18 years and has over 40 units in Arizona and Colorado.

COPE Invests $1.9 Million in Marana Land for Future Construction

MARANA, ARIZONA — COPE Properties, LLC a subsidiary of COPE Community Services, Inc. (COPE) of Tucson purchased 18.57 acres of raw land at 8705 N Silverbell Road in Marana for $1.9 million ($2.35 PSF).

The property is adjacent to the Watermark Assisted Living Facility that was bought in last summer and is under construction. See Watermark Retirement Communities Buys Land in Marana for related article.

COPE bought the acreage with two possible options being explored. One option is for a charter school and the other is to construct affordable housing on the site. The property has a wash that splits the property and accounts for some construction challenges.

COPE Community Services, Inc. is a private, nonprofit healthcare organization. COPE offers comprehensive programs, specialty services, resources, and support to address general mental health and substance abuse issues, serious mental illness, physical healthcare, and wellness concerns.  COPE utilizes an integrated healthcare approach that takes into consideration the body, mind, and spirit connection. COPE receives funding from SAMHSA, HUD, Cenpatico Integrated Care (includes AHCCCS and ADHS/DBHS funding) and various commercial insurance plans.

Pat Welchert of Alpha Commercial Real Estate Service, LLC in Tucson represented the seller, DAZ7-Sombrero Peak, LLC an affiliate to The DESCO Group, Inc. of St. Louis, MO.

Jason Hisey with Ray Schneider Company in Tucson represented the buyer.

For more information, Hisey can be contacted at 520.331.3533 and Welchert should be reached at 520.360.9394.

To learn more, login and see RED Comp #5522.

D.R. Horton Starts 2018 with 137 new SFR lots

TUCSON, Arizona — D.R. Horton is starting off the year with 137 new lots in two new subdivisions

D.R. Horton bought 84 lots at Hardy and Thornydale in northwest Tucson for $3 million ($35,750 per lot). The new subdivision was sold by Hardy Thornydale I Partnership (Daniel Leung, manager) and was platted as Hardy 30, named for its 30 acres.

The lots are platted and engineered and mostly 50’wides and located in the highly desirable northwest area of Tucson that has seen the highest growth in recent years.

Dan Feig with Chapman Lindsey Commercial R.E. Services handled the transaction.

For more information, Feig can be reached at 520.747.4000.

To learn more, see Red Comp #5435.

In a separate transaction, D.R. Horton purchased 53 SFR lots at Diable Village Estates for $1.961 million ($37,000 per lot) from RPC DBP Holdings, an affiliate of RB Price & Company. The 53 lots were replatted from 59 town home lots and are mostly 40’ and 45’ wide.

Diablo Village Estates is located in the western submarket of Tucson.

The buyer and seller were self-represented in this transaction.

To learn more, see RED Comp #5479.


C&W Picor’s New Office Space has a Tucson Vibe along Broadway corridor

Wrap around cityscape wall mural greets visitors at the door

TUCSON, Arizona — Cushman & Wakefield | PICOR and its forty-nine employees moved into its new office at 5151 E. Broadway, Suite 115, in Tucson recently, in the former Tucson College space. We stopped by last week to see its new digs.

From the moment you enter the doorway, you know you’re in a company office with Tucson history. The office design builds on Picor’s 32-year history in Tucson and creates a dynamic, collaborative work space consistent with the company’s work in vibrant Southern Arizona.

A 12’ x 40’ cityscape wall mural of downtown Tucson greets visitors as they enter. The cityscape photo was taken by Tucson Aerial Photography and fabricated by Graphic Impact and Dean Kelly for the wrap around wall mural. Awards are displayed at the coffee nook and there all versatile size meeting and conversation nooks throughout, as well as two conference rooms that can be combined into one large conference area for the whole company to meet.

Epstein Construction of Tucson was the general contractor for the project and Wayne Swan/Erin Hastreiter, Intertech Architectural Interiors in Tucson, the architects. Amanda Wood, Linda Robinson Design, of Tucson served as the designer.

All Tucson companies, Atmosphere Commercial Interiors provided the ergonomic furnishings and Some Distant World, John Benedict, added custom wood/metal furnishing for finishing touch.

Palo Verde Communications/EC Group provided the cabling and IT services. White noise is used to mask work noise in the open space work environment.

In preparation for the move, Picor scanned its files to secure files and was able to dispose of 20 very large filing cabinets in the process.

Cushman & Wakefield | PICOR President Barbi Reuter commented, “It was a tremendous team from top to bottom – very creative and solution-oriented to make our dream space a reality. With our expansion to 10,500-square-feet, we’ve been able to locate more centrally and design space that accommodates our growth, incorporates numerous collaborative meeting spaces of varied sizes, invites natural light and the vibrancy of the Broadway corridor, reduces our reliance on paper, opens up communication within and between divisions, and allows our unique culture to be expressed.”

5151 E. Broadway is owned by Kent Circle Partners, and was selected we were told for its iconic identity, ease of access for clients and employees, and proximity to submarkets across the city.

The official office grand opening is planned for March.

Ted Herman Joins Larsen Baker in Tucson

Ted Herman

TUCSON, Arizona — Ted Herman has joined Larsen Baker, LLC as the company’s Director of Investments.

In his new position, Herman will oversee all aspects of financing for Larsen Baker’s real estate portfolio and will manage ground up development and construction projects for the company.

Herman has an extensive background in development and land entitlement, most recently as Vice President of Residential Land and Development with Rancho Sahuarita Companies, and prior to that, as a land broker with Land Advisors Corporation. Herman has a masters degree in planning from the University of Arizona and a bachelors degree in sociology from the University of Wisconsin.

Larsen Baker, LLC is a Tucson based commercial real estate firm that develops, remodels, owns, operates, manages and leases retail, office and industrial properties throughout Southern Arizona. Operating since 1993, Larsen Baker has become the largest independent retail-commercial property owner in Tucson. The firm owns and manages over 2.3-million-square-feet of commercial space in metro Tucson and Southern Arizona.

“We are very excited that Ted has joined our team,” said George Larsen. “His versatility in all aspects of commercial development will help our company continue its role as a leading real estate investment and development company in Tucson.”

Larsen and Herman can be reached at 520.296.0200 and at www.larsenbaker.com