Monday, June 24, 2019

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...

Cummins Engine Leased Building Sells For $1.1 Million Investment in Tucson

TUCSON, ARIZONA – Dean Cotlow of the Cotlow Company sold the Industrial building at 1501 South Cherry Avenue in Tucson for $1.1 million ($171 PSF) in an all cash transaction.  The 6,440-square-feet investment property (built 1984) was leased to a Cummins Sales and Service. Cummins Inc. is a global power...

Volk Co. Agents Close $8 Million in Sales this Month

TUCSON, Arizona -- Volk Company started the year off strong with eight closings in a thirty-day period, totaling almost $8 million, and including four restaurant sales. Brenna Lacey and Kevin Volk of Volk Company represented the seller, Steamroller Pad LLC, in the $2,660,000 net leased investment sale of the Starbucks...

Taylor Morrison / Pulte JV Pays $100M for 410 Acres State...

SCOTTSDALE, AZ -- Taylor Morrison Home Corporation (NYSE: TMHC) and Pulte Homes (NYSE: PHM) have announced a joint venture to acquire approximately 410 acres of land in North Phoenix from the Arizona State Land Department and develop it into a new master plan community. Development of the site is slated...

NW Tucson Growth Exceeds Expectations along Oracle Corridor

TUCSON, Arizona -- Nestled along the base of the Pusch Ridge Mountains, the Oracle Road Corridor from the Town of Oro Valley to Catalina has many new developments reporting 'business exceeds expectations'. The Canyons at Linda Vista Trail Apartments at 9750 N Oracle Road in Oro Valley, owned and developed...

C&W Picor Team Handles Four Multifamily Transactions totaling $3.84M

TUCSON, ARIZONA -- The Multifamily team of Allan Mendelsberg and Daniel Leibsohn, with Cushman & Wakefield | PICOR handled the following multifamily transactions with an aggregate of $3.84 million and 103-units in four closings over a 3-week period recently. Palo Verde by Bakerson, LLC purchased Palo Verde Apartments, a 52-unit...

Berkadia Completes Sale of Canyons at Linda Vista Trail in Oro...

ORO VALLEY, ARIZONA -- Northland Investment Corporation of Newton, MA (Matthew Gottesdiener, Chief Investment Officer) acquired Canyons at Linda Vista Trail, a 228-unit luxury apartment community in Oro Valley, for $41.25 million ($181,000 per unit). The purchase of the new development completed in 2014 by Boulder Oro Valley (Ross...

Rio West Buys Building for CODAC’s Relocation to Fort Lowell Office...

TUCSON, Arizona -- CODAC Behavioral Health Services will be relocating from 3100 N 1st Avenue in Tucson to Fort Lowell Office Plaza at 360-380 E Fort Lowell Road in Tucson. CODAC sold the building at 3100 N 1st Avenue for $1 million ($53 PSF). The 18,729-square-foot building on 2.02 acres...

Tucson Group Buys Former Valero Pad at Grant & Tanque Verde...

TUCSON, Arizona - Investment group, Keystone 6630 Grant Road, LLC of Tucson (Steve Grimm, manager) bought the C-2 Zoned Retail Pad, a former a Valero Gas Station, at 6630 East Grant Road in Tucson for $580,000 ($32.22 PSF). Built in 2001, the former gas station, with 2,140 –square-foot convenience store...

Marana Safeway Resells for $8.26 Million

TUCSON, Arizona -- HKM California Properties, LLC (Rob Whittey) purchased the Safeway Store #1749 at 9100 N Silverbell Road in Marana from Fortress Investment Group LLC (NYSE: FIG) for $8.26 million ($150 PSF) in an investment transaction. Safeway will continue to occupy the property. The Marana Safeway sold previously as...

Top of Swan Fetching Top Prices for Office Condos in Tucson

TUCSON, ARIZONA – Two Class A office condominiums recently sold at Top of Swan offices at the northeast corner of Swan and Skyline Drive in Tucson.  The 37,469-square-foot project was built in 2015 and offers office condos for sale and for lease with an option to buy. KOA Properties, LLC...
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