Saturday, September 22, 2018

Equilibrium Acquires Cordova Village in Tucson for $8 Million

TUCSON, Arizona -- An affiliate of Equilibrium Fund II purchased Cordova Village Apartments for $8 million ($25,157 per unit), a community located at 2020 S Columbus in the eastern submarket of Tucson, Arizona.  The 147,000-square-foot complex in 18 buildings has 318-units on 9-acres and was built in two phases...

Richmond American Growth Keeping Ahead of Inventory Curve in Tucson

TUCSON, Arizona – Richmond American Homes - Tucson Division has backhoes and bobcats ready. The number of finished lots available in submarkets that buyers desire is dwindling fast, and developing raw land—which became a lost art for many builders during the recession—is now a real necessity for growth-minded companies...

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...

Three Tucson Hotels Fetch $14.58 Million at Auction

TUCSON, Arizona - HSL Properties (Omar Mireles, president) of Tucson acquired the 109-room Hampton Inn & Suites at 5950 N Oracle Road and the 76-guestroom TownPlace Suites by Marriott at 5900 N Oracle Road in Tucson for an aggregate price of $12.06 million ($65,189 per room) at auction. The seller,...

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...

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...

ABI Multifamily Brokers Apartment Sale in Hotspot Central Tucson

TUCSON, Arizona – ABI Multifamily, a brokerage and advisory services firm that focuses exclusively on apartment investment transactions, announced the $1.5 million sale ($46,875 per unit / $53.38 PSF) of the 32-Unit Villa Delano Apartments at 123 W Delano Street in Tucson. The property, originally built in 1980, sits on...

SVN Phoenix Sells Malibu Apartments in Wildcats’ Den for $2.24M

TUCSON, Arizona – Tucson is well  known for its University of Arizona Wildcats and their recent journey to make the Final Four in the NCCA Men’s College Basketball tournament. Though they were eliminated during the Sweet 16, they still did great!  Student housing and multifamily properties in Tucson are...

SVN Close $5.6M in Sales from Downtown Phoenix to Ajo, Arizona

Phoenix, Arizona – Downtown Phoenix is home to a vibrant business and entertainment district with shopping at the CityScape Phoenix complex and art galleries on Roosevelt Row.  SVN DesertCommercial Advisors in Phoenix is one of the largest commercial real estate brokerages that make a strong presence in the downtown...

HSL Buys The Enclave at the Foothills for $21.8 Million for...

TUCSON, Arizona -- Berkadia completed the recent sale of The Enclave at the Foothills, a 300-unit multifamily property in Tucson, Arizona. Representing the seller, Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of the Tucson office completed the $21.8 million sale ($72,666 per unit). The deal closed on...

BMO Bank Oro Valley Sells for $2.62 Million

ORO VALLEY, Arizona -- The BMO Bank at 10655 N Oracle Road in Oro Valley sold in a triple net investment sale for $2.62 million ($518 PSF). An outparcel to Target, Ross, Office Max, PetSmart and Fry’s Center and across from The Home Depot in Oro Valley, with a new...

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...
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