Sunday, December 9, 2018

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...

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...

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...

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...

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...

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...

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...

Marshall Foundation Buys Ground Lease at Main Gate Square in Tucson

TUCON, Arizona -- Main Gate Square is one of the oldest shopping districts in Tucson dating back to 1922, part of a 4-square block redevelopment district which includes 138,000-square-feet of retail space and 200,000-square-feet of office space.  Tucson’s modern street car connects downtown activity centers, including Main Gate Square, along a...

New Homebuilder Enters La Estancia Masterplan Community

TUCSON, Arizona -- With strong home sales shown by Meritage Homes, Richmond American Homes is entering La Estancia masterplan with the purchase of 99-SFR lots from Sunbelt Holdings. Lots are 45’x 110’ and commanded a finished sale price of approximately $4.9 million ($49,500 per finished lot). Scottsdale-based Sunbelt is a...

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...

SVN Close $5.6M in Sales from Downtown Phoenix to Ajo, Arizona

Phoenix, Arizona – Downtown Phoenix is home to a vibrant business and entertainment district with shopping at the CityScape Phoenix complex and art galleries on Roosevelt Row.  SVN DesertCommercial Advisors in Phoenix is one of the largest commercial real estate brokerages that make a strong presence in the downtown...

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...
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