Tuesday, January 16, 2018

Rancho Los Amigos MHP sold at $4.8 million for Redevelopment

Historic Rancho Los Amigos, a mobile-home park that began as a citrus grove, at 600 West Orange Grove Road in Tucson was bought by Alta Vista Communities (Roger Karber, manager) recently for $4.8 million ($282,353 per acre). The property sold for land value and is located just west of the...

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...

New Anchored-Center The Crossing at Sahuarita Site Sells for $3.5M

TUCSON, Arizona -- Brenna Lacey of Volk Company represented La Jolla Verde Land Holdings, LLC in the sale of 17.7 acres of land at the southeast corner of Old Nogales Highway and Abrego Drive in Sahuarita, Arizona to FAE Holdings 461354R, LLC. The purchase price was $3.5 million ($4.54...

D.R. Horton, Tucson’s Largest New Home Builder’s Latest Buying Spree

TUCSON, Arizona -- D.R. Horton (NYSE: DHI) Tucson’s largest new home builder by volume in 2016 purchased 145 lots during Q1, or 36% of the 407 total lots that sold in Tucson metro, subject to change with the final week of the quarter still to come. The home builder posted...

Tucson Retail Sales – Hi Falutin & Window World Sold

TUCSON, Arizona -- Oakmark Properties of Scottsdale purchased the property at 6780 N Oracle Road in Tucson from Thomas and Ines Leonard  of Tubac for $850,000 ($258 PSF).  The investor is an experienced restaurant investor that owns approximately 25 leased properties. The property is leased to the popular Hi Falutin Rapid...

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...

HSL adds Radisson Suites Tucson to Portfolio for $7 Million

Tucson-based, HSL Hotel Opportunity Fund III (Omar Mireles, manager) bought the Radisson Suites Tucson at 6555 E Speedway Blvd in Tucson for $7 million ($23,411 per room) from the lender AIG Life Insurance Co and American International General Life Assurance of Los Angeles, CA and The United States Life...

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...

Raising Cane’s in Tucson Sells for $4.15 Million

Cushman & Wakefield Negotiates Sale of National Chicken Restaurant Chain TUCSON, Arizona – Cushman & Wakefield sold the Raising Cane’s chicken restaurant, located at 6352 E. Broadway Boulevard in Tucson for $4.15 million ($1,148 PSF) to Leal 2002 Family Trust of California. This was a record low CAP rate for...

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,...

Tucson Metro New Construction on Land Sales Totaling $3.75 Million

TUCSON, Arizona – Schoolhouse Oro Valley LLC of Queen Creek, AZ (Glenn L Way, manager) purchased approximately 8.6-acres at the southwest corner of Sunkist Road and La Canada Dr. in Oro Valley, from the DESCO Group of St. Louis for $1.5 million ($4 PSF). The property will be used for...

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...
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