Sunday, June 24, 2018

Fry’s Marketplace To Be Developed at 22nd Street & Houghton Road

Tucson, AZ- There has been some updated information received to our April 24, 2018 article on Smith’s Food & Drug Centers, Inc., dba Fry’s Food & Drug Stores, that acquired 16.3 acres of undeveloped land at the northeast corner of 22nd Street and Houghton Road, Tucson, AZ, from Twenty-Second...

Tanque Verde Apartments in Tucson Sell for $26.5 Million for 428-Units

TUCSON, Arizona -- CBRE has completed the sale of the Tanque Verde Apartment complex, 428-unit multifamily community located at 7671 E. Tanque Verde Road in Tucson, Ariz. The multifamily asset sold for $26.5 million ($61,916 per unit). The property was 96 percent leased at time of sale. Michael Sandahl with...

Tucson Student Housing 4-Plex Fetches $2.85 Million for 32-Beds

TUCSON, ARIZONA – Student Housing at 50 N Mountain Ave. in Tucson sold for $2.85 million ($89,000 per bed) to investors from Glendora, California by a Family Trust in Los Osos, California. The newer construction (built 2015) was built for student housing within 3 blocks of the University of Arizona....

Cummins Engine Leased Building Sells For $1.1 Million Investment in Tucson

TUCSON, ARIZONA – Dean Cotlow of the Cotlow Company sold the Industrial building at 1501 South Cherry Avenue in Tucson for $1.1 million ($171 PSF) in an all cash transaction.  The 6,440-square-feet investment property (built 1984) was leased to a Cummins Sales and Service. Cummins Inc. is a global power...

Big O’Tires Coming to Las Plaza at Old Vail

TUCSON, ARIZONA --- Las Plazas at Old Vail, a 17-acre retail development at the northwest corner of Houghton and Old Vail Roads in Southeast Tucson, has landed a Big O’Tires in this fast growth retail center. The center is located across from Houghton Town Center and adjacent to the...

Harsch Investment Properties expands AZ portfolio with acquisition of Oro Valley...

TUCSON, Arizona – Harsch Investment Properties, a Portland-based real estate investment, development and management company, continued its aggressive growth in Tucson, Arizona with the purchase of Oro Valley Commerce Center for $5.625 million ($124 PSF). A 45,490-square-foot high-tech, R&D industrial property, the recent acquisition puts the company’s industrial portfolio...

Tucson Investment Sale of NextCare Urgent Care for $1.175 Million

TUCSON, ARIZONA -- Lee & Associates Investment Principals Steve Gonzalez, Marcus Muirhead and Greg Guglielmino brokered the sale of 6238 E Pima Street in Tucson for $1.175 million ($291 PSF) for this single tenant triple-net (NNN) property. Constructed in 1998 as a build-to-suit for this specific use, NextCare Urgent Care...

Southern Arizona CCIM Chapter Conversation Corner for April

TUCSON, Arizona — The following commercial real estate transactions totaling $7.96 million created a lot of conversation at the April meeting of the Southern Arizona CCIM Chapter, in case you missed it,  we’re publishing them here as part of our CCIM Conversation Corner. Schotzsky’s Restaurant at 3270 E Valencia sold...

New Dove Mountain Senior Living Facility Site Sells for $1.7 Million

MARANA, ARIZONA -  Rita Land Corporation, a subsidiary of Cottonwood Properties (Bill Hallinan, vice-president) sold 5.9 acres for construction of an assisted living facility at 5250 W Dove Centre Road in Marana, at the Dove Mountain Centre II, located northeast of Tangerine and Dove Mountain Blvd, for $1.683 million...

Fry’s Progressing at Houghton & 22nd Street Tucson

TUCSON, ARIZONA – Smith’s Food & Drug Centers closed on 16.3 undeveloped acres at the northeast corner of Houghton Road and 22nd Street in Tucson for $2.84 million ($4 PSF) all cash deal.  The seller was Twenty-Second Street Baptist Church of Tucson. Brentwood Developments plans a 96,000-square-foot Fry’s Marketplace with...

Sun Mechanical HQ Sells for $3.65 Million in Tucson

TUCSON, Arizona -- The White Ohana LLC. an affiliate of Finisterra Corporation of Costa Mesa, CA purchased the 32,391-square-foot building at 3951 E. Columbia St. in Tucson for $3.65 million ($113 PSF). The property was built in 1994 in the Alvernon Rail Center on 4.26-acres, located southeast of Ajo and...

IBE Closes on New Location at 921 N Swan in Tucson

TUCSON, Arizona – Local non-profit, The Institute for Better Education (IBE), purchased a 3,710-square-foot office building at 921 N. Swan Road in Tucson from Pyramid Credit Union for $440,000 ($118 PSF).  The buyer plans to relocate its operation from 911 S Craycroft Road after it completes some interior construction. IBE...
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