Country Inn & Suites Tucson Airport Sells for $5.15 Million

TUCSON, ARIZONA – Country Inn & Suites at Tucson Airport sold for $5.15 million ($62,048 per room) to Progressive Hospitality, LLC of Mukiltee, Washington. Located at 6681 South Tucson Blvd. in Tucson, the 26,604-square-foot hotel on 2.21 acres was built in 2000 with 83-rooms.

All rooms include: free, hot breakfast, free Wi-Fi, flat-screen cable TV with HBO, pet friendly, work desk with lamp, microwave, refrigerator, coffee/tea facilities, free weekday USA TODAY® Newspaper, hair dryer in room, iron & ironing board, complimentary local calls and long-distance access, voicemail, alarm clock/radio, cribs available, rollaway beds available (Standard King Rooms only), and  children 18 and under stay free in same room as an adult.

Standard Rooms includes a choice of one king or two queen size beds and standard amenities like free Wi-Fi and a flat-screen TV with HBO.

One-bedroom Suites enjoy the privacy of a separate bedroom with King Bed and flat-screen TV and a telephone. The living area includes a sleeper sofa, a second flat-screen TV and a second

Premium One-bedroom Suite includes a living area with a wet bar, a flat-screen TV, a phone and a sleeper sofa. The private bedroom offers an additional TV and phone.

Ryan Sarbinoff with Marcus & Millichap in Phoenix and Aseem Tandon with Marcus & Millichap in Ontario, California handled the transaction for the seller, The Sethi Family Trust.

Sarbinoff told us the property was in excellent condition and closed with its highest occupancy ever.

For more information, Sarbinoff can be reached at 602.687.6750 of Tandon at 909.456.7016.

To learn more, see RED Comp #6275.




CBRE Completes Investment Sale of Dutch Bros Coffee Building in Tucson

TUCSON, Arizona  – CBRE has completed the $2.47 million sale of a single-tenant property leased to Dutch Bros Coffee, located at 120 South Wilmot Road in Tucson, Ariz. The 824-square-foot building is on the southwest corner of Broadway Boulevard and Wilmot Road, which benefits from high traffic counts of over 80,000 vehicles per day.

Joseph R. Compagno with CBRE’s Phoenix office represented the seller, Oregon-based, Cole Valley Partners. Sunny Gill of Habitat Investment Advisors represented the buyer, Calif.-based LD Enterprises, LLC.

“The California Buyer paid a 4.85% cap rate for a long-term 15-year corporate lease and placed new financing on the property through CBRE,” said CBRE’s Compagno. “The buyer was attracted to the property’s infill location and to Dutch Bros’ overall success. Additionally, we are seeing strong demand from investors looking for new single-tenant investments leased to coffee users.“

Dutch Bros Coffee was founded in Oregon in 1992 and has over 300 locations in seven States. This location is their first in Tucson and celebrated their grand opening on October 9th with free coffees.

To learn more, see RED Comp #6331.




Veterans Day Holiday Ballots will continue to be counted in Arizona

PHOENIX, Arizona – State and county officials, and Republican Party officials who sued over discrepancies in the way Arizona counties check voter signatures on early ballots, agreed Friday to a settlement that allows the verification process to continue until 5 p.m. Nov. 14.

That could have an impact on the tight Senate race between Kyrsten Sinema and Martha McSally. Sinema regained the lead earlier this week and at the end of Sunday evening had expanded her lead to 32,169 votes, with McSally at 1,039,778 and Sinema at 1,071,947.

Meanwhile, the Maricopa County Recorder’s Office continues to whittle away at its pile of uncounted ballots, which totaled more than 300,000 on Friday. County Recorder Adrian Fontes told the Associated Press that the count is expected to wrap up Nov. 15. That process is independent of the settlement, which deals with the verification, or curing, of ballot signatures.

The Republican parties in Apache, Maricopa, Navajo and Yuma counties filed the suit against all 15 Arizona county recorders as well as Secretary of State Michele Reagan late Wednesday. The agreement announced in Maricopa County Superior Court, allows all 15 counties in Arizona to cure the remaining early ballots until next Wednesday.

The process works like this: Voters are required to sign the back of his or her early ballot envelope. That signature is compared to the one used to register to vote and other recorded documents on file with the Recorder’s office. If the signatures don’t look similar, the voter will be contacted to confirm it is in fact their ballot. The four counties named in the suit allow for longer times for verification; Republican officials claimed that disenfranchised voters in the other 11, mostly rural, counties.

The Maricopa County Elections Department updated results Sunday at 5 p.m., and reported there were  approximately 162,000 ballots left to process for the 2018 General Election, with 215,000 votes reported remaining throughout all the counties.

The remaining ballots are early, provisional and out-of-precinct ballots that voters cast or dropped off on Election Day.

“Some of the ballots we are currently processing require extra attention and research. We are taking the time needed to make sure every voter’s voice is heard,” Maricopa County Recorder Adrian Fontes said.

Election officials expect tabulation to continue for several more days, and will update the results daily at 5 p.m.

Election results for Maricopa County are available at www.Maricopa.Vote. State wide results are at the Secretary of State website https://azsos.gov/




Tucson-Based Mister Car Wash Continues Expansion in 21 States

Newly built Mister Car Wash, 38656 W 5400 South, Salt Lake City, UT

TUCSON, Arizona – Tucson-based Mister Car Wash continues to expand, now with 266 car washes it operates in 21 states. Prior to this year the company had grown through acquisitions and recently opened two new locations built and developed by and for Mister Car Wash in Iowa and Utah.

The new product being developed by Mister Car Wash will be brought home to Tucson soon at the Bridges, a successful mixed-use project at the northwest corner of I-10 and Kino Parkway, as soon as permits and entitlements are complete on a pad to the north of Discount Tire. The Bridges includes 112-acres of retail development, in addition to the 65-acre UA Tech Park and 175-acres of residential development.

Costco, Walmart, Cinemark Theater, Planet Fitness and Dave & Buster’s anchor the retail component, known as  Tucson Marketplace at The Bridges.

Another car wash was sold recently at 320 W Irvington Road in Tucson for $320,000 to the owner of the adjacent Las Palmas Bar at 332 W Irvington Road, Arizu’s Holding Company. It was purchased for additional parking.

Mister Car Wash represented itself in the sale and Aaron LaPrise with Cushman & Wakefield | Picor is handling new acquisitions for the company.

For information about services and career opportunities with Mister Car Wash, please visit www.mistercarwash.com.

To learn more, see RED Comp #6236.




A Culver’s and Two New Dutch Bro’s coming to Vail and Sahuarita

SAHUARITA, ARIZONA – Team Adams Sahuarita LLC of Sierra Vista (Kevin Adams Trust) paid $1.065 million ($286 PSF) for a former American Southwest Credit Union with excess land at 18800 S Nogales Hwy in Sahuarita Plaza.

CVP- Sahuarita Plaza DB LLC, an affiliate of Cole Valley Partners of Portland Oregon, then purchased the excess land from Team Adams Sahuarita for $765,000 ($28 PSF) and plans to develop for 900-square-foot Dutch Bro’s Coffee at 18810 S Nogales Hwy. in Sahuarita Plaza.

This will be the first Culver’s and Dutch Bro’s in Sahuarita with plans to open Q2 2019.

Dutch Bro’s will also be added to Old Vail Plaza, where CVP – Rita Ranch purchased a 10,038-square-foot pad for $625,000. ($62 PSF). The property sold shovel ready and Dutch Bro’s will join Native Grill, Taco Bell and Freddy’s Steakburger at the center.

From their 911 cold brew to the Banana Cream Pie Frost, Dutch Bros. Coffee has been serving up tasty beverages to the west coast since 1992.  Unfortunately, Tucsonans have been excluded from enjoying one of their beverages for years. But, with a new store that opened Oct 9th at 120 South Wilmot, near Broadway Boulevard and Wilmot Road, Dutch Bros. is helping Old Pueblo residents catch up with the rest of the west.

With these two new land acquisitions, the Oregon coffee chain will have four shops in the Metro Tucson area, the others being at Cortaro & I 10 in Marana.

Pete Villaescusa and Jesse Peron with CBRE in Tucson handled the sale at Old Vail Plaza.

For more information, Villaescusa and Peron should be reached at 520 323-5100.

To learn more, see RED Comps #6217, #6227, and #6308.




Tucson’s Senior Housing Specialist Closes on 20-bed Assisted Living Sale

5530 and 5536 E. 2nd St. Tucson, AZ

TUCSON, ARIZONA – Mark Biery, JD, CCIM, of Berkshire Hathaway who specializes in Senior Housing closed on two, 10-bed assisted-living care homes at 5530 and 5536 E. 2nd Street in Tucson for $1.28 million ($64,000 per bed).

The two 4,200-square-foot buildings were build in 2016 and were ready to occupy when sold.

The properties were purchased by Midtown Tucson LLC, dba Starfish Care Homes. The property represents the fifth acquisition in six years. Other Starfish Care Homes include River Hills, 6611 E River Hills Pl; Indian Ridge, 2641 N Bahama Dr.; Spanish Trail, 9251 E Old Spanish Trail; Rolling Hills, 8742 E 27th Street, and now Midtown 5530 & 5536 E 2nd Street all in Tucson.

Privately owned and managed, Starfish Care Homes is owned by Kris and Ben Silverman. Kris is a Family Nurse Practitioner with over 20 years of nursing experience specializing in Geriatrics, and Ben is an accomplished businessman who manages the operations of the homes and care of residents.

Biery represented buyers and the sellers, 2nd Street Partners I, LLC and 2nd Street Partners II, LLC – a local developer of adult care homes, in the transaction.

“There was a great fit in this transaction, between the buyer and sellers,” Biery said.  “The sellers design and build high-quality, assisted-living care homes, based upon what the senior housing market is demanding right now.  Both of these facilities have ten private rooms, all with attached bathrooms, rather than semi-private rooms.”

“The owners of Starfish Care Homes really liked the layout and quality of construction – it fits perfectly with what their residents want, and it makes it easy for Starfish to provide the highest quality of care possible.  Being one of the finest assisted-living operators in town, Starfish really wanted to buy Class-A buildings.  That’s what they got,” Biery added.

For more information, Biery should can be contacted at 520.235.2531.

To learn more, see RED Comp #6306.

 




Are Voters Feeling the Economy?

OPED by Karen Schutte

If you believe there is a correlation between politics and the economy. The last official snapshot of the economy that came out Friday before Americans vote reminded me of James Carville’s words, “It’s the economy, stupid”.

Hiring is up. Wages are up. The total number of workers and job searchers are up.

But, the question remains: “Are voters feeling it?”

For years, we’ve been told since the Great Recession that the economy was improving ‘we just weren’t feeling it yet.’

On Friday, we heard the Labor Department report, employers added 250,000 jobs in October, extending a record streak of growth to 97 months. Many, including President Trump, have called it “tremendous”.

In Tucson, 9,300 jobs were gained from August 2017 to September 2018, according to the most recent labor report from October 18th.

In fact, total nonfarm employment over the month gain for Tucson was second only to Flagstaff MSA at 3.1%, at 2.4% net job gains.  Higher than Arizona and the Phoenix-Mesa-Scottsdale MSA growth, both at 1.2%.

From September 2017 to September 2018, Arizona’s seasonally adjusted labor force level increased by 54,239 individuals, not an insignificant number.

Friday’s roundup also offered evidence that workers are not only feeling optimistic about job prospects but are actually finding work, which is why the jobless rate was unchanged at 3.7 percent even as employers hired more people. An estimated 711,000 people joined the national labor force last month alone.

As always, the monthly jobs report captures only a particular moment; the underlying trend is what’s important. That caution is particularly pertinent this time.

The back-to-back hurricanes in September and October may have distorted the data in unpredictable ways.  A modest monthly wage gain of 0.2% nonetheless produced a surprisingly big 3.1% jump in annual growth. That was partly because of the unusual drop in pay in October 2017 after hurricanes. Yet even if the year-over-year increase was somewhat inflated, the underlying trends point to a pickup in wage growth.

Some analysts immediately saw warnings of inflation, while others said the pay increase should not bother policymakers at the Federal Reserve. “I don’t think it’s something the Fed should worry about,” Michelle Girard, chief United States economist at NatWest Markets, said. “Productivity growth is picking up, and workers should earn more. It doesn’t mean companies have to pass on higher wage costs to consumers. They can afford to pay them more.”

The Fed, which has increased rates three times this year from historically low levels, is expected to raise them again to 2.5 percent in December as a hedge against inflation.

In a call with reporters, Kevin Hassett, the chairman of the president’s Council of Economic Advisers, cited productivity growth as the explanation for higher wages, and not an overheating economy. He also took the opportunity to say that the president respects the Fed’s independence.

Manufacturing jobs — which have traditionally paid well and have been a focus of President Trump’s policies — increased by a healthy 32,000.

The economy has historically not played an outsize role in midterm elections, and this political season, border control, health care and Brett Kavanaugh’s nomination to the Supreme Court have gobbled up airtime and political ad space. Still, about three-quarters of registered voters say the economy is “very important” in determining their vote, according to polls conducted by the Pew Research Center. Among Republicans, that number is even higher at 85 percent.

We’ll have to wait until Tuesday night to see who is feeling the economy.

To learn more, see ADP Employment October Report.




5 Recent Tucson Multifamily Sales – C&W Picor Brokers $7.1 Million in Transactions

The Compound Student Housing

TUCSON, ARIZONA — A private investment group purchased The Compound Student Housing at 774 E Seneca in Tucson for $3.15 million ($112,500 per bed). The 7-unit property was 100% occupied when is sold. Allan Mendelsberg, Multifamily & Investment Specialist with Cushman & Wakefield | PICOR, handled the transaction for the investors and the seller, Gould Family Properties of Tucson.

Yavapai Apartments

Yavapai Apartments at 420 E Yavapai Road in Tucson sold for $1.55 million ($46,970 per unit). The 33-unit, small-community consists of all two-bedrooms / one bath apartment homes and sold with one vacant unit. Claud Smith with Goldsmith Property Management were managing the complex and represented the sellers, Yavapai Properties, LLC, a private group of investors. Allan Mendelsberg with Cushman & Wakefield | Picor handled negotiations for the investor.

10th Street 12, LLC purchased 10th Street Apartments, a 12-unit complex located at 804 & 860 E.  10th St. in Tucson, from Jalan Sepuluh, LLC for $1 million ($83,333 per unit).  Allan Mendelsberg with Cushman & Wakefield | PICOR, handled this transaction.

Gould Family Properties VIII, LLC purchased Pima Street Apartments, a 12-unit complex located at 5739-5755 E. Pima Rd. in Tucson, from Brian & Lauretta Kunz for $735,000 ($61,250 per unit). Broker reported that in four days seven offers were received on this property. Allan Mendelsberg with Cushman & Wakefield | PICOR, handled this transaction.

25Jac Properties, LP purchased a 13,032-square-foot specialized residential facility at 1835 W. Anklam Road in Tucson, from Long Far Investments, LLC for $650,000 ($49.88 PSF). The seller purchased it for $500,000 to renovate for office space and flipped it to the buyer. The property was vacant at time of sale and the buyer intends to renovate the former Carondelet Convent into an 80-100 bed Halfway House.  Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller; Allan Mendelsberg with Cushman & Wakefield | PICOR, represented the buyer.

For additional information, Mendelsberg should be reached at 520.546.2721 and Hooker can be called at 520.546.2704.




Denny’s America’s Diner Coming to Houghton Town Center

TUCSON, Arizona – Feast Properties, LLC of Murrieta, California, the construction arm for Denny’s Restaurants, purchased a pad at Houghton Town Center for $575,000 ($20 PSF). Ready for construction, Vail should have its first Denny’s sometime next year right along with the McDonalds that has started construction at Houghton Town Center.

The Vail community is a census-designated place (CDP), twenty-four miles southeast of Tucson.

Denny’s is a table service American diner-style restaurant chain where guests have come for over 60 years to sit back, relax and enjoy delicious, hearty meals, every day of the year including holidays. From breakfast anytime to lunches and dinners, Denny’s is always open.

Denny’s is one of America’s largest full-service family restaurant chains, currently operating over 1,700 franchised, licensed and company-owned restaurants across the United States, Canada, Puerto Rico, New Zealand, Mexico, Costa Rica, Dominican Republic, Honduras, Guam, the United Arab Emirates, Chile, Curaçao, El Salvador, and Trinidad and Tobago, and the Philippines.

Brenna Lacey and Jeremy Price with Volk Company represented the seller / developer, Houghton Developers LLC, an affiliate of Diamond Ventures (Bill Kelley, CFO). Shannon Murphy with DVI Realty assisted in the transaction, while buyer was represented by Northwest Commercial Advisors.

“Other restaurants, such as Popeye’s, Panda Express, Jersey Mikes and Dunkin Donuts have been doing very well at this location,” said Lacey. “And the 4,041-square-foot new Denny’s should be a welcomed addition to the community.”

Currently, Vail residents drive about 14-miles to the nearest Denny’s at 4040 East 22nd Street in Tucson.

For more information, Lacey can be reached at 520.495.2233, Price is at 520.441.4771 and Murphy can be contacted at 520.577.0200.

For further information on Denny’s, visit the Denny’s website at www.dennys.com

To learn more, see RED Comp #6260.




LAO-Tucson Closes on $12.61 Million of Land Sales in Northwest Tucson

TUCSON, Arizona — Will White and John Carroll with Land Advisors Organization (LAO) closed this week on $12.61 million in land sales in Rancho Vistoso and Gladden Farms in Northwest Tucson submarket.

A New York-based land investment REIT, JEN Arizona 32, LLC and affiliate TerraWest Communities (Mike Jesberger) purchased Blocks 5H and 5I (190 Acres) at Rancho Vistoso Neighborhood 5 in Oro Valley for $6.3 million.  The buyer plans to plat the parcels for a mix of production lot sizes. The Seller was VP Loan II, LLC.

Richmond American acquired 19 paper lots in Rancho Vistoso Neighborhood 10T for $850,000 ($44,737 perplatted and engineered lot). The 19 lots are a Vistoso infill parcel sold by Tempe-based, Grace Holdings, LLC (Bernadette Wolfswinkel, manager).

“Rancho Vistoso goes all the way back to the 1980’s and 90’s, so Vistoso is some of the best infill in the region at this point. It has a proven track record of some of the strongest pricing power and pace in the Tucson metro area. It is surrounded by supporting amenities, employment and the views and aesthetics of that area are amazing. Homebuilders continue to scout opportunities in that masterplan because they are having great success. As the options become limited in Rancho Vistoso, we expect land to continue to trade at a premium that reflects the strong attributes of the project,” commented White.

Richmond also closed on it’s second deal at Gladden Farms in 2018 for another 105-finished lots for $5.46 million ($52,000 per lot). The lots were sold by the developer, Gladden Phase II, LLC (Crown West Realty, Dean Wingert). Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and have the marketing assignment on all of Gladden Farms.

“Gladden Farms has closed 347 lots YTD. It is not surprising that new blocks are trading at volume, it is a fantastic community in a strong growth area. North Marana has huge momentum and will continue to capitalize on the constraints of the metro area for many years to come.”

White added, “The great thing about the Tucson market is that it is showing strength in almost every component. We are seeing much better economic news and supply is tight on all fronts which is providing a very stable situation. We like to look at burn rate and this year there has been a big push to affordability and building specs to get ahead of timing concerns and get cost efficiencies. This all leads to the build out of communities faster than everyone was anticipating. Bottom line is we need more land in production in all areas of Tucson or we can simply expect price increase all around from land to housing over the next 24 months.”

For more information, White and Carroll should be reached at 520.514.7454.

To learn more, see RED Comp #6278, #6290 and #6289.




Mountain Oyster Club Completes $1.4 Million World Class Kitchen Remodel

TUCSON, Arizona — Dean P. Cotlow of Cotlow Company and President of the Mountain Oyster Club (M.O. Club) announced the completion of a recent complicated remodel of the 82-year old kitchen at the M.O. Club building. With the goal of keeping the Mountain Oyster Club open during construction, with semi-trailer sized kitchens, there were many surprises discovered during the remodel due to the age of the facility. The Club celebrated its reopening Oct 12th.

Seaver Franks were the architects and Barker Contracting completed the construction. The end result is nothing short of a world class kitchen at a cost of $1.4 million for the new kitchen at the Mountain Oyster Club.

The iconic home of the Club at 6400 E El Dorado Circle in Tucson has a long rich history of its own. It was originally built as a home for Miss Florence L. Pond, daughter of a distinguished lawyer in Detroit. The building, called Stone Ashley, was planned by Grosvernor Atterbury, a well-known New York Architect. It was constructed of block and native fieldstone by the M. M. Sundt Construction Company for a price of $67,000. The estate consisted of 318 acres that extended approximately one mile on Speedway and a half mile along Wilmot. Approximately 20 acres of beautifully landscaped grounds surrounded the 17-room residence, the rest was natural desert. Miss Pond made Stone Ashley and the grounds available to servicemen and other groups in the area during WWII for concerts, other programs and swimming.

In 1947, Miss Pond put the property up for sale with an asking price of $300,000 unfurnished, and eventually sold it for $200,000 including furnishings. After approximately $400,000 in renovations by architect Bernard J. Friedman and the M. I. Poze Construction Company, which included the addition of a third floor to the main building and other building improvements, which would house up to 80 guests, it opened in 1949 as the El Dorado Lodge. Also added at that time, were tennis courts, a heater for the pool, putting greens, badminton courts, shuffleboard courts, horseshoe pitching facilities, an 18-hole golf course, horse stables, corrals and a residential community.

The El Dorado Guest Lodge promoted itself as a place “…where breathless scenery, age-old traditions and the pleasures of today combine…”

It later became the Palm Court Restaurant before being purchased by Charles Kerr, former Maitre d’ of the Tack Room Restaurant and opening as Charles Restaurant in 1979. Charles attempted to return the mansion to its original English manor style with slate floors, wonderful fireplaces and a beautiful beamed ceiling. He was also responsible for the addition of a first-class kitchen. What had once been elegant guest rooms were now offices for various Tucson businesses. In 1984, an additional 2 story office building was added to the northeast side of the existing buildings, which copied the style and materials of the original structures.

Most recently, for a period of about 2 years the original mansion housed a French restaurant that went by the name of the original home, Stone Ashley.

While many changes have taken place over the years, much hasn’t. You still enter the property by way of the tall Italian Cypress lined road and the original paneled front door of the Pond mansion, believed to have cost $1,500 in 1936. A few of the fruit trees remain from what was a family citrus grove of grapefruit, sour orange and olive trees. To the right of the front entrance, the bath house with 2 dressing rooms still remains although the pool has been replaced with a parking lot. Many of the decorative gardens, fountains and other exquisite touches that made this estate one of the show places of the southwest can still be found inside and out.

Likewise, the Mountain Oyster Club prides itself in holding true to its rich heritage. Many of the original “Los Viejos” are no longer with us, but the M. O. Club has attracted a colorful array of westerners that hold true to the club’s traditions. You will still find the custom woven carpet, good ‘ol boys in the bar willing to share a story or two, and your right to wear your blue jeans and park your pickup or stock truck in the lot as well as the motto “cerveza y huevos para todos.” Changing times are even dealt with by applying the swift old western style of justice, as those who have allowed their cell phones to ring have found out, when they picked up the tab for a round of drinks. Also unchanged, is a collection of fine western art, southwestern hospitality, fine wines and spirits, and an enticing menu that includes fine cuts of beef prepared to satisfy the palates of those that know a thing or two about whence it came and how good it can be when it is prepared correctly.

There are many colorful stories of how the Mountain Oyster Club came to be. There is probably a thread of truth in most of them. The most common versions say that it was begun by a group of cowboys, playboys, ranchers, polo players, race-horse types, and others whose unacceptable behavior had gotten them thrown out of all of the respectable establishments in Tucson. Whether the real reason for its’ creation was to give ranchers and their wives a place in town where they could feel at home in their boots and Levi’s and shoot out the lights without offending the rest of the membership or some other less interesting purpose, we know it began in 1948.

A group of six men have been given the blame or credit as the case may be for creating a list of original invitees. The club opened for business November 1, 1948, in the basement of the Santa Rita Hotel in downtown Tucson, a location deemed “The Passion Pit.” The club was relocated to the neighboring Pioneer Hotel in 1965. The Mountain Oyster Club was forced to find a new location ten years later when the Pioneer Hotel ceased operations. After extensive renovations, in November of 1975, the club reopened in the historical Jacome home, then owned by well know accountant and member, C.T.R. Bates. This mansion at the corner of Stone Ave. and Franklin became the home of the M. O. Club for the next 30 years.

In 2003, with another lease renewal looming, the club sought a place to purchase, the investment of a permanent home for the Club. Unable to negotiate the purchase of the current facilities, the search began for a new home; a historical building and ample parking were the top priorities. In January 2004, the Mountain Oyster Club moved out of downtown to its current location near Speedway and Wilmot on Tucson’s East side. The new facilities house the club and several commercial office rental spaces.

To learn more about the Mountain Oyster Club go to http://mountainoysterclub.com/

 




California Investor purchases Tucson Medical Building for $2.7 Million

4745-4753 E. Camp Lowell Drive, Tucson, AZ

TUCSON, ARIZONA – A California investor purchased the office building at 4745-4753 E. Camp Lowell Drive in the Swan Corporate Center in Tucson for $2.7 million ($209 PSF).

The 12,923-square-feet of rentable space was 100% occupied by three long-term tenants at time of sale. Built in 2001 in Swan Corporate Center,  it sits on a 20,935-square-foot lot.

The building had originally been built as a surgical center for Western Neuro Surgery and included three level 3 operating facilities complete with external redundancy generator.

Tenants in place at time of sale were Retina Specialists, Ophthalmology specialists Reid F. Schindler MD  and John Christoforidis MD in 4753; Rincon Pain, Randall S. Prust, M.D  in 4747; and Center for Pain Management, with El Dorado Hospital, in 4745.

Mark Hays and Patrick Teske of Tierra Antigua represented the seller, Baldunn Investment Company, LLC of Tucson, a private investment group.

Tom DeSollar of Arizona First Properties, LLC negotiated the sale for the buyer, Acosta Farm Properties, LLP of Waterford, California.

For more information, Hays can be reached at 520.444.5401, Teske is at 520.336.2456 and DeSollar should be contacted at 520.400.2732.

To learn more, see RED Comp #6274.