Monday, June 24, 2019

Tucson’s CPI and Assurance Merger Combines Health Services

TUCSON, Arizona -- Not-for-profit Community Partners, Inc. (CPI) has acquired Assurance Health and Wellness (Assurance) in Arizona. Assurance, formerly a wholly owned subsidiary of Sinfonía HealthCare Corporation. The two companies have long served Tucson in the behavioral health care industry. Sources say the merger will create cost savings and improvements...

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...

Dunkin Donuts Investment Trades For $951 PSF in Tucson

TUCSON, ARIZONA – A California investor traded into the acquisition of the Dunkin Donuts store at 5346 East 22nd Street in Tucson for $2.1 million ($951 PSF). The 2,209-square-foot store was built in 1984 as a stand-alone building with drive-thru and completely renovated in first quarter 2016. Located southeast of...

B/E Aerospace Building in Tucson Sells for $13.2 Million

TUCSON, ARIZONA -- Burl Holdings,LLC (Russ Bomhoff) sold the property occupied by B/E Aerospace in the Eastside Research / Commerce Center sold to an investor from Anchorage, AK for $13.2 million ($105 PSF).  The Florida-based company, B/E Aerospace, bought the Tucson company  Bomhoff Inc., a maker of cabinetry for...

Tucson Multitenant Office Complex on Swan Road Sells for $700,000

TUCSON, ARIZONA -- The multitenant office building at 800 N Swan Road in Tucson sold to Lerdal 800, LLC (Swain Chapman of Chapman Management,  managing member) for $700,000 ($70 PSF). The seller was a Canadian investment group from Ontario. The 10,000-square-foot professional class B, office complex was built in 1982...

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...

Cushman & Wakefield closes 43 Tucson Apartment Units for $2.28 Million

TUCSON, ARIZ. -- AZDA, LLC investors from Miami Beach, Fla. purchased Alvernon Apartments, a 24-unit apartment complex located at 2053-2099 N. Alvernon Way in Tucson, from KMS Enterprises, LLC for $937,500 ($39,062 per unit) as a value add investment. Alvernon Apartments is a centrally-located apartment complex built in 1965 just...

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 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...

Blue Sky Equity Partners Acquires Red Lion Inn & Suites Tucson...

TUCSON, ARIZONA -- Blue Sky Equity Partners  has added to its hotel portfolio by acquiring the Red Lion Inn & Suites Tucson North Foothills for $7 million ($44,872 per room) and plans to rename and reposition the hotel as a boutique hotel called 3 Palms Tucson North Foothills at...

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...

Rancho Los Amigos MHP sold at $4.8 million for Redevelopment

Historic Rancho Los Amigos, a mobile-home park that began as a citrus grove, at 600 West Orange Grove Road in Tucson was bought by Alta Vista Communities (Roger Karber, manager) recently for $4.8 million ($282,353 per acre). The property sold for land value and is located just west of the...
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