Friday, October 20, 2017

Downtown Tucson’s Wig-O-Rama & Diocese School Sell for $2.45 Million

TUCSON, Arizona -- The Saint Augustine Diocese School at 415 S 6th Avenue in Tucson sold to an investment group comprised of Marcel Dabdoub and Ron Schwabe for $1.5 million ($95 PSF). The two-story building, known as the Diocese School Building, is a contributory historic building that closed as a...

The Clover Company Trades into Industrial Investment for $1.6 Million

TUCSON, Arizona -- Local investment group, The Clover Company (Paul Kraft, CEO) through affiliates, Princeton GM and 4675 Coach Drive, LLC traded into an industrial investment at 4675 S Coach Drive and excess land in the Butterfield Business Park in Tucson for $1.6 million. The 16,568-square-foot building on .98 acres...

Modern Lift Expanding to new Industrial Building in Tucson

TUCSON, Arizona -- Modern Lift, Inc. (Bill and Mary Riley, owners) purchased an industrial building with yard at 6080 S Masterson Avenue in Tucson for $343,000 ($42 PSF).  Purchased for expansion of the business, the company is currently located at 3175 E 46th Street in Tucson. Modern Lift Inc offers...

Tucson Office Sales in March Total $8.9 Million

March office sales totaled $8.9 million, and represented 43% of the office sales for first quarter 2017. The following is a few of those sales: Siempre Juntos, LLC of Tucson purchased a 10,628-square-foot office building located at 3100 N. Campbell Ave. in Tucson, from Gibeault Office Company, LLC for $1,530,000...

Good News for Q1 Tucson Office Market from 360-degrees

TUCSON Arizona -- Everyone expected a positive Tucson Office Market report for Q1 2017 as it trends upward, but it may be doing even better than expected. We spoke with Tom Nieman, Office Specialist at Cushman & Wakefield to ask what was happening. Nieman told us from 2010-2015 office vacancy had...

Richmond American Growth Keeping Ahead of Inventory Curve in Tucson

TUCSON, Arizona – Richmond American Homes - Tucson Division has backhoes and bobcats ready. The number of finished lots available in submarkets that buyers desire is dwindling fast, and developing raw land—which became a lost art for many builders during the recession—is now a real necessity for growth-minded companies...

BMO Bank Oro Valley Sells for $2.62 Million

ORO VALLEY, Arizona -- The BMO Bank at 10655 N Oracle Road in Oro Valley sold in a triple net investment sale for $2.62 million ($518 PSF). An outparcel to Target, Ross, Office Max, PetSmart and Fry’s Center and across from The Home Depot in Oro Valley, with a new...

One of Nation’s Largest REITs Grows Portfolio with Tucson’s Dave &...

Spirit Realty Capital attracted to Tucson Marketplace at the Bridges Buys Second Investment Property Here TUCSON, Arizona - Spirit Realty Capital (NYSE: SRC) of Dallas Texas, one of the largest publicly traded triple net-lease real estate investment trusts (REITs) acquired the brand-new Dave & Buster’s Sports Bar at 1390 E...

Marshall Foundation Buys Ground Lease at Main Gate Square in Tucson

TUCON, Arizona -- Main Gate Square is one of the oldest shopping districts in Tucson dating back to 1922, part of a 4-square block redevelopment district which includes 138,000-square-feet of retail space and 200,000-square-feet of office space.  Tucson’s modern street car connects downtown activity centers, including Main Gate Square, along a...

Tucson Group Buys Former Valero Pad at Grant & Tanque Verde...

TUCSON, Arizona - Investment group, Keystone 6630 Grant Road, LLC of Tucson (Steve Grimm, manager) bought the C-2 Zoned Retail Pad, a former a Valero Gas Station, at 6630 East Grant Road in Tucson for $580,000 ($32.22 PSF). Built in 2001, the former gas station, with 2,140 –square-foot convenience store...

InterOptics Chooses Shamrock Center for its Manufacturing Facility

TUCSON, Arizona -- Optical instrument inventor Dr. Chris Koliopoulos and Shamrock Place Arizona LLC, purchased 4854 N Shamrock Place in Tucson for his latest optics company, InterOptics. The 17,500-square-foot industrial building was constructed in 2002, and sits on 1.85-acres at Shamrock Center located at Ruthrauff and La Cholla Blvd...

ASH Property Sells in Complex Net Lease Investment Deal for $1.3M

TUCSON, Arizona – The industrial zoned garage at 1402 E Benson Hwy in Tucson sold for $1.3 million ($85.48 PSF) to local investors in a net lease investment sale, but not before the tenant, Auto Safety House (ASH) business was sold to another company. The 15,207-square-foot building, built 1975,...
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