Friday, September 21, 2018

Cali Investor Pays $54M for Tucson Far Horizons MHP and RV...

TUCSON, Arizona – Cal Am Properties, Inc of Encino, California (Steve Hester, CEO) purchased the Far Horizon East Mobile Home Park at 7570 E Speedway Blvd. with 415-space for $33 million ($79,518 per space) and the adjoining Far Horizons RV Resort at 555 N Pantano Road with 514-spaces for...

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...

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...

DR Horton Joins Richmond American at Santa Cruz Meadows in Sahuarita

SAHUARITA, ARIZONA -- DR Horton, Inc. purchased 10 finished lots under a rolling option agreement for 93-lots from Tucson Land, LLC at Santa Cruz Meadows in Sahuarita. The price was $51,000 per lot for the 7,000-square-foot lots. DR Horton is the second builder at Santa Cruz Meadows along with Richmond...

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...

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...

Tucson’s Sierra Del Sol Senior Living Sells for $12.32 Million

TUCSON, ARIZOA -- Sierra Del Sol Senior Living at 8151 E Speedway Blvd. in Tucson, Arizona, sold for $12.32 million ($87,980 per bed) to KRE Tiger Sierra del Sol, LLC of New York, NY. The facility is licensed for a 140-bed capacity Memory Care and Assisted Living community. There...

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...

Tucson Metro New Construction on Land Sales Totaling $3.75 Million

TUCSON, Arizona – Schoolhouse Oro Valley LLC of Queen Creek, AZ (Glenn L Way, manager) purchased approximately 8.6-acres at the southwest corner of Sunkist Road and La Canada Dr. in Oro Valley, from the DESCO Group of St. Louis for $1.5 million ($4 PSF). The property will be used for...

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...

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...

Developer Buys 9.55 Acres at 900 West Orange Grove for $1.3...

TUCSON, ARIZONA – Orange Tree Partners (Richard B Price, manager) bought 9.55 acres with improvements at 900 West Orange Grove Road in Tucson for $1.3 million ($3.13 PSF). The infill property has dwellings on it originally build in 1931, a 3,133-square-foot SFR and two additional buildings in disrepair and is...
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