Monday, February 18, 2019

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,...

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...

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...

Park Brokerage Arranges Infill Tucson Mobile Home Park Sale

TUCSON, Arizona -- Park Brokerage Inc. has announced the sale of Adobe Manor Mobile Home Park located at 3339 E Grant Rd. in Tucson, Arizona was completed on March 24, 2017 for the price of $715,000 ($14,300 per unit). John Sheedy with Park Brokerage Inc. arranged the distressed sale on behalf of the seller...

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...

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...

New Jack-in-the-Box Coming to Marana Roundabout Area

MARANA, ARIZONA – Revere Investments of Mesa (Robert Campbell, manager) purchased 27,000-square-feet of land in Marana for $515,000 ($19 PSF) for construction of a Jack-in-the-Box Restaurant. Located across from McDonalds near Circle K, south of Marana Road on Sandario near the new roundabout. The buyer dedicated a portion of the...

D.R. Horton, Tucson’s Largest New Home Builder’s Latest Buying Spree

TUCSON, Arizona -- D.R. Horton (NYSE: DHI) Tucson’s largest new home builder by volume in 2016 purchased 145 lots during Q1, or 36% of the 407 total lots that sold in Tucson metro, subject to change with the final week of the quarter still to come. The home builder posted...

BMO Harris Bank Branch in Tucson Sells for $2.52 Million

TUCSON, Arizona -- The BMO Harris Bank occupied property at 1200 N Wilmot Road in Tucson sold for $2.52 million ($506 PSF). The buyer and seller were both from California and the property sold for investment leased to the bank. Located at the signalized intersection of Speedway and Wilmot, the...

Crandell Glass & Aluminum Buys Tennessee Street Property, Tucson for New...

TUCSON, ARIZONA -- Crandell Holdings, LLC (Aaron Crandell, manager) purchased 4349 E. Tennessee Street from Tucson Industrial Centers Inc. for $620,000 ($74 PSF). The 8,400-square-foot industrial building was built in 1982 on 2.68 acres and has a large fenced storage yard. United Rental, a previous tenant, did a new buildout...

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....

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...
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