Sunday, June 24, 2018

Chapman Lindsey: Q1 Residential Lot Sales Report

By: Aaron Mendenhall and Dan Feig, Chapman Lindsey Commercial Real Estate Services New home sales are up in 2016. Per SAHBA, monthly net sales from their 12 member builders so far in 2016 has each been higher than any month in 2015 with the exception of January’s 173 net sales...

New Dove Mountain Senior Living Facility Site Sells for $1.7 Million

MARANA, ARIZONA -  Rita Land Corporation, a subsidiary of Cottonwood Properties (Bill Hallinan, vice-president) sold 5.9 acres for construction of an assisted living facility at 5250 W Dove Centre Road in Marana, at the Dove Mountain Centre II, located northeast of Tangerine and Dove Mountain Blvd, for $1.683 million...

COPE Invests $1.9 Million in Marana Land for Future Construction

MARANA, ARIZONA -- COPE Properties, LLC a subsidiary of COPE Community Services, Inc. (COPE) of Tucson purchased 18.57 acres of raw land at 8705 N Silverbell Road in Marana for $1.9 million ($2.35 PSF). The property is adjacent to the Watermark Assisted Living Facility that was bought in last summer...

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...

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...

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...

Saguaro National Park East Adds 44 Acres to Preserve

TUCSON, Arizona -- The Trust for Public Land transferred 44 acres to Saguaro National Park (East district) located north of Vail. The new acreage adds a critical water resource to Saguaro National Park (SNP) east. The land was purchased by the Trust for Public Land (LWCF) from Scott and Kate...

Downtown Tucson’s Wig-O-Rama & Diocese School Sell for $2.45 Million

TUCSON, Arizona -- The Saint Augustine Diocese School at 415 S 6th Avenue in Tucson sold to an investment group comprised of Marcel Dabdoub and Ron Schwabe for $1.5 million ($95 PSF). The two-story building, known as the Diocese School Building, is a contributory historic building that closed as a...

ASH Property Sells in Complex Net Lease Investment Deal for $1.3M

TUCSON, Arizona – The industrial zoned garage at 1402 E Benson Hwy in Tucson sold for $1.3 million ($85.48 PSF) to local investors in a net lease investment sale, but not before the tenant, Auto Safety House (ASH) business was sold to another company. The 15,207-square-foot building, built 1975,...

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...

Colliers Sells Two Tucson Multifamily Communities for $13+ Million

"Multifamily buyers beginning to move their money from the Phoenix market to Tucson, capitalizing on higher cap rates and lower per unit acquisition costs" Tucson, Arizona --  Colliers International in Greater Phoenix has negotiated the sale of two Tucson apartment complexes in transactions totaling $13+ million.  The properties were...

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...
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