Saturday, March 25, 2017

Santa Rita Ranch III Moves Ahead with Two New Homebuilders in...

 Santa Rita Ranch III in Vail, AZ to open by year-end TUCSON, Arizona -- Richmond American (NYSE: MDC) and Lennar Homes (NYSE: LEN) are the first two homebuilders to enter Santa Rita Ranch Phase III. Each builder purchased 68 SFR lots recently from Crown West Realty (Dean Wingert, VP) for...

NW Tucson Growth Exceeds Expectations along Oracle Corridor

TUCSON, Arizona -- Nestled along the base of the Pusch Ridge Mountains, the Oracle Road Corridor from the Town of Oro Valley to Catalina has many new developments reporting 'business exceeds expectations'. The Canyons at Linda Vista Trail Apartments at 9750 N Oracle Road in Oro Valley, owned and developed...

BMO Harris Bank Branch in Tucson Sells for $2.52 Million

TUCSON, Arizona -- The BMO Harris Bank occupied property at 1200 N Wilmot Road in Tucson sold for $2.52 million ($506 PSF). The buyer and seller were both from California and the property sold for investment leased to the bank. Located at the signalized intersection of Speedway and Wilmot, the...

The Window Depot Speedway Property in Tucson Sells for $2.64 Million

TUCSON, Arizona -- A private trust of the Scar Family in Santa Barbara California purchased a 13,200-square foot retail/wholesale building located at 5123 E. Speedway Blvd. in Tucson for $2.64 million ($200 PSF) for investment. The seller, Solar Industries, Inc. of Tucson (Don Medoff, president) sold the property fully occupied...

New Homebuilder Enters La Estancia Masterplan Community

TUCSON, Arizona -- With strong home sales shown by Meritage Homes, Richmond American Homes is entering La Estancia masterplan with the purchase of 99-SFR lots from Sunbelt Holdings. Lots are 45’x 110’ and commanded a finished sale price of approximately $4.9 million ($49,500 per finished lot). Scottsdale-based Sunbelt is a...

Downtown Tucson Has Final Puzzle Pieces Coming Together

TUCSON, Arizona -- Developers Ron Schwabe and Marcel Dabdoub purchased the historic Gus Taylor building at 128 East Congress in Tucson for $850,000 ($124 PSF). Vacant at time of sale, the 6,875-square-foot, 2-story with mezzanine building, built in 1916, sits adjacent to the former Chicago Music Store. The first...

Trending: Tucson Office Sales up 27% year-over-year

TUCSON, Arizona – According to RED Comps, tracking all commercial sales, Tucson office sales volume for the first two months in 2017 are up by 27% year-over-year with only three more sales for the same period, prices are trending upward. Average sale price year-over-year is up by $10,000 from...

Cali Investor Pays $54M for Tucson Far Horizons MHP and RV...

TUCSON, Arizona – Cal Am Properties, Inc of Encino, California (Steve Hester, CEO) purchased the Far Horizon East Mobile Home Park at 7570 E Speedway Blvd. with 415-space for $33 million ($79,518 per space) and the adjoining Far Horizons RV Resort at 555 N Pantano Road with 514-spaces for...

Three Tucson Hotels Fetch $14.58 Million at Auction

TUCSON, Arizona - HSL Properties (Omar Mireles, president) of Tucson acquired the 109-room Hampton Inn & Suites at 5950 N Oracle Road and the 76-guestroom TownPlace Suites by Marriott at 5900 N Oracle Road in Tucson for an aggregate price of $12.06 million ($65,189 per room) at auction. The seller,...

Arizona Investors Buy MHP and RV Parks Totaling $11.58 Million

TUCSON, Arizona -- The South Forty RV Park Ranch at 3600 West Orange Grove Road, Marana in the Northwest submarket, sold to South Forty RV Resort LLC of Casa Grande, Arizona (George McGavin, Jr.) for $6.5 million ($27,897 per unit). The 55+ community with 233-spaces includes amenities such as heated...

Spirit Realty Adds Century Tucson Marketplace-14 to Portfolio for $15.8 Million

TUCSON, Arizona -- Spirit Realty Capital (NYSE: SRC) of Dallas Texas added to its investment portfolio the new  Century Tucson Marketplace-14 for $15.8 million ($294 PSF). The new  Cinemark NextGen Theatres is located at 1300 East Tucson Marketplace Blvd. The 53,678-square-foot theatre, with 14 screens and 1,294 seats, has...

Tucson Retail Development Heads West – Midvale Park Center Trades for...

TUCSON, Arizona –  An investment group from Conroe Texas traded into the inline shops at Midvale Park Community Shopping Center at 1625-1645 West Valencia in Tucson. The property commanded a sale price of $6.9 million ($235 PSF). The center is located across the street from the newly constructed 104,479-square-feet Fry’s...
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