Saturday, April 20, 2019

Tucson Multifamily Deals Surge in First Days of 2017

TUCSON, Arizona -- Multifamily property sales surged to $21 Million in sales volume in the first 10-days of 2017. Marcus & Millichap sales accounted for $13.6 million in the following two transactions, with four properties and 371-units: HSL Casa Loma of Tucson (Omar Mireles, manager) sold Casa Loma Apartments for...

Tucson’s CPI and Assurance Merger Combines Health Services

TUCSON, Arizona -- Not-for-profit Community Partners, Inc. (CPI) has acquired Assurance Health and Wellness (Assurance) in Arizona. Assurance, formerly a wholly owned subsidiary of Sinfonía HealthCare Corporation. The two companies have long served Tucson in the behavioral health care industry. Sources say the merger will create cost savings and improvements...

ABI Multifamily Brokers $10.55M Apartment Sale in Casas Adobes Neighborhood of...

TUCSON, AZ -- ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $10,550,000 / $95,909 per unit sale of the Orange Tree Village Apartments located at 645 W Orange Grove Rd. in Tucson, Arizona.  Orange Tree Village is a lower density...

Pima Council on Aging (PCOA) Purchase of 600 South Country Club...

TUCSON, ARIZONA — Pima Council on Aging purchased the 15,000-square-foot office building located at 600 South Country Club Road in Tucson Arizona for $1,755,000 ($117 PSF). Pima Council on Aging is Pima County’s leading expert on aging well, advocacy, and unbiased information for older people and their families. Founded in...

Two Tucson Industrial Investment Sell for Over $4.2 Million

TUCSON, Arizona -- Cushman & Wakefield | PICOR Industrial Specialist, Brandon Rodgers, general partner in two buying entities recently purchased two industrial investment properties. Friebus Investors, LLC purchased a 45,750-square foot industrial building located at 2301/2341 S. Friebus Ave. in Tucson, from Oak Properties for $1.75 million ($38.25 PSF). Built in...

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...

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...

Retail Pad at Viewpointe at Vistoso Trails Sold

ORO VALLEY, ARIZ. -- Vast Commercial Real Estate Solutions (VAST), a full-service commercial real estate and investment brokerage firm, brokered the sale of commercial land located at the hard southeast corner of Rancho Vistoso Blvd and Moore Road in Oro Valley, AZ 85755. Located in the heart of the...

Allstate Self Storage in Phoenix Sells for $6.7 Million

Allstate Self Storage located at 4110 E. Bell Road in Phoenix, AZ was sold for $6.7 million, or $88 PSF and $8,535 per storage unit, to U-Haul International. The property was constructed in 1999 and consists of about 68,250-square-feet and 785 storage units plus a 7,600 square foot, 2-tenant retail...

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...

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...

Iconic Deconcini Building on Broadway Sells for $4.73 Million

TUCSON, Arizona – The iconic DeConcini Building at 2525 E Broadway in Tucson sold for $4.725 million ($147 PSF). The 32,160-square-foot building located on 2.08 acres at the northeast corner of Broadway and Tucson Boulevards was 100% occupied at time of sale and purchased by Broadway Executive Plaza (Robert Assenmacher,...
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