Wednesday, February 21, 2018

Arby’s Restaurant to join Las Plazas at Old Vail

Vail, Arizona -- OVP Development Company, LLC (Bob Davis and Bill Divito) sold lot 5 at Las Plazas at Old Vail for $550,000 to Irish RB's Properties LLC of Dallas, TX.  The buyer plans to build an Arby’s restaurant with a drive-thru at the site. Las Plazas at Old Vail...

NW Allied Physicians Building Sells for Investment at $2.9 Million

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...

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...

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...

Five Palms Restaurant in Catalina Foothills Sells for Redevelopment

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...

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

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...

International Sonoran Desert Alliance Continues Assemblage of 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...

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...

Country Gardens 76-Unit Apartments in Tucson sells for $3.4 Million

TUCSON, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Country Gardens, a 76-unit apartment property located in Tucson, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix/Tucson...

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...

$20.5 Million Buys Tucson Value-Add Multifamily Asset

TUCSON, Arizona– Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) announces the sale of River Oaks Apartments, a 300-unit apartment complex in Tucson, Arizona. The $20.5 million sales price equates to $68,333 per unit. Completed in 1982, River Oaks features a mix of studio, one-, and...

ABI Multifamily Brokers $12.2M Sale of The Quails Apartments near TIA

TUCSON, Arizona  -- ABI Multifamily is pleased to announce the $12.2 million ($42,361 Per Unit) sale of The Quails Apartments at 1120 E Irvington Road in Tucson, Arizona near the Tucson International Airport. The Quails is a 288-unit, two-story, garden-style apartment community, built in 1984 and 1985, which rests on...
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