Monday, February 18, 2019

Twin Peak Plaza Building in Marana Trades for $2 Million

TUCSON, Arizona -- A Twin Peaks Plaza building at 7555 West Twin Peaks Road in Marana sold for $2 million ($234 PSF). Situated at the new Twin Peaks and I-10 interchange in the Northwest submarket, the buyer traded up in a 1031 exchange. The 8,540-square-foot building is a portion of...

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...

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...

COT Amendment Approval for Possible Fry’s Marketplace at Houghton & 22nd...

The Mayor and Tucson City Council voted this week 6:1, with Councilman Steve Kozachik the sole dissenting vote, to approve an amendment to the Houghton East Neighborhood Plan that could allow for the development of a 124,000-square-foot Fry’s Marketplace at Houghton & 22nd on a 16-acre site at the...

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...

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...

Crandell Glass & Aluminum Buys Tennessee Street Property, Tucson for New...

TUCSON, ARIZONA -- Crandell Holdings, LLC (Aaron Crandell, manager) purchased 4349 E. Tennessee Street from Tucson Industrial Centers Inc. for $620,000 ($74 PSF). The 8,400-square-foot industrial building was built in 1982 on 2.68 acres and has a large fenced storage yard. United Rental, a previous tenant, did a new buildout...

The Peaks at Redington Apartments in Tucson Sell for $14.5 Million

TUCSON, Arizona – A Scottsdale-based company recently purchased the Peaks at Redington, a multifamily property in Tucson, Arizona. Senior Managing Art Wadlund and Associate Director Clint Wadlund completed the $14.5 million ($48,173 per unit) sale, which closed on January 19. Berkadia represented the seller, PEM Investments, based in Scottsdale, Arizona....

InterOptics Chooses Shamrock Center for its Manufacturing Facility

TUCSON, Arizona -- Optical instrument inventor Dr. Chris Koliopoulos and Shamrock Place Arizona LLC, purchased 4854 N Shamrock Place in Tucson for his latest optics company, InterOptics. The 17,500-square-foot industrial building was constructed in 2002, and sits on 1.85-acres at Shamrock Center located at Ruthrauff and La Cholla Blvd...

Time Market Owner Buys former Scordato’s on Speedway and Rincon Market

TUCSON, ARIZONA –  Time Market owner Peter Wilke purchased the former Scordato’s restaurant at 4405 West Speedway Blvd. in Tucson from Safari Development, LLC (Tracy Hardy, member) for $430,000 ($65 PSF). Tari Auletta of Keller Williams in Tucson represented the seller and Kristy Kelley with Long Realty represented the buyer....

New York REIT Picks Tucson for First $46M Acquisition West of...

Multifamily Portfolio Sells for $46 Million Updated: 3/1/2017 Tucson, Arizona — New York-based, Dasmen Residential (Michael I Katz, CEO) purchased a 1,166-unit portfolio in Tucson from Omninet Capital of California for $46 million ($39,451 per unit). The transaction marks the buyer’s entry into Tucson and its first acquisition west of...

$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...
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