Monday, June 25, 2018

Tucson Retail Development Heads West – Midvale Park Center Trades for...

TUCSON, Arizona –  An investment group from Conroe Texas traded into the inline shops at Midvale Park Community Shopping Center at 1625-1645 West Valencia in Tucson. The property commanded a sale price of $6.9 million ($235 PSF). The center is located across the street from the newly constructed 104,479-square-feet Fry’s...

D.R. Horton Starts 2018 with 137 new SFR lots

TUCSON, Arizona -- D.R. Horton is starting off the year with 137 new lots in two new subdivisions D.R. Horton bought 84 lots at Hardy and Thornydale in northwest Tucson for $3 million ($35,750 per lot). The new subdivision was sold by Hardy Thornydale I Partnership (Daniel Leung, manager) and...

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...

Two NNN Investment Sales totaling $5.09 Million

Two NNN investment sales totaling $5.09 million took place recently in Northwest and Northeast Tucson submarkets: Carmack Center, LLC of Escondido, CA (Michael Nicholson, manager) purchased the BRAKEmax / Merles Auto Supply joint building at 6550 & 6560 N. Thornydale Road in Tucson from Encino Investments, LLC (Albert Davidoo, manager)...

Santa Rita Ranch III Moves Ahead with Two New Homebuilders in...

 Santa Rita Ranch III in Vail, AZ to open by year-end TUCSON, Arizona -- Richmond American (NYSE: MDC) and Lennar Homes (NYSE: LEN) are the first two homebuilders to enter Santa Rita Ranch Phase III. Each builder purchased 68 SFR lots recently from Crown West Realty (Dean Wingert, VP) for...

WestGrant Industrial / Office complex in Tucson sells for $2.3 million

TUCSON, ARIZONA – Westgrant Centre, LP of Tucson (Daniel H O’Connell) sold the WestGrant industrial / office center at 1955 West Grant Road in Tucson for $2.3 million ($56 PSF) to WestGrant Investors, LLC (Brandon Rodgers, manager). The 40,925-square-feet of industrial flex space was constructed in 1983 on a 2.78-acre...

North First Medical Plaza Central Tucson Sells for $1.95 Million

TUCSON Arizona -- North First Medical Plaza a multitenant complex, located at 4701-4747 North 1st Avenue in Tucson sold for $1.95 million ($75 PSF). The seller, Wetmore Land Corporation of Tucson (Gerald & Phyllis Altschuler) was the developer and builder of the 18 office condominiums that it self-managed and...

One of Nation’s Largest REITs Grows Portfolio with Tucson’s Dave &...

Spirit Realty Capital attracted to Tucson Marketplace at the Bridges Buys Second Investment Property Here TUCSON, Arizona - Spirit Realty Capital (NYSE: SRC) of Dallas Texas, one of the largest publicly traded triple net-lease real estate investment trusts (REITs) acquired the brand-new Dave & Buster’s Sports Bar at 1390 E...

DaVita Kidney Care Dialysis Center Sells for $2.5 million

TUCSON, ARIZONA -- Vast Commercial Real Estate Solutions (VAST), a full-service commercial real estate and investment brokerage firm, brokered the sale of Building C at 6420 E Broadway Boulevard, Tucson, AZ 85710. Located along the high-traffic Broadway Boulevard in the El Mercado Office Plaza, the 16,830-square-foot space sold for...

Spirit Realty Adds Century Tucson Marketplace-14 to Portfolio for $15.55 Million

TUCSON, Arizona -- Spirit Realty Capital (NYSE: SRC) of Dallas Texas added to its investment portfolio the new  Century Tucson Marketplace-14 for $15.55 million ($290 PSF). The new  Cinemark NextGen Theatres is located at 1300 East Tucson Marketplace Blvd. The 53,678-square-foot theatre, with 14 screens and 1,294 seats, has...

Country Gardens 76-Unit Apartments in Tucson sells for $3.4 Million

TUCSON, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Country Gardens, a 76-unit apartment property located in Tucson, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix/Tucson...

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....
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