Rite Way Heating, Cooling & Plumbing Buys Industrial Building in Tucson for $3.9 Million

4551 S Alvernon Way, Tucson, AZ

TUCSON, Arizona — Walter & Sons LLC (Rick Walter, manager) of Tucson bought a 44,736-square-foot industrial building at 4551-4571 S. Alvernon Way from HS-Tucson AZ LLC an affiliate of Holoaloa HDS LLC for $3.865 million ($86 PSF). ). Built in 2000, with I-1 zoning, 24′ clear height, a 3-acre yard for parking, 2 docks / 4 grade level loading, and racking systems with in-rack sprinklers.

Located on Alvernon Way between Ajo and Irvington, the building will be owner occupied by Rite Way Heating, Cooling & Plumbing (Rick Walter, owner)

Rite Way Heating, Cooling & Plumbing started in 1959. Being Tucson born and bred, Rite Way services the surrounding areas of Marana, Catalina, Oro Valley, Vail, Sahuarita, Green Valley and Tubac.

Rite Way is also one of the few local contractors approved by Tucson Electric Power (TEP) for its 2014 Efficient Home Program, which offers energy efficiency rebates towards air conditioners, heat pumps and duct system sealing.

Specialized in the design, engineering, installation and servicing of quality comprehensive heating and cooling systems for both existing and new homes and businesses. Rite Way has 13 certified Building Analysts on staff.

Russell W. Hall and Stephen D. Cohen, with Picor, represented the buyer; the late William Di Vito, with CBRE, represented the seller.

For more information, Hall can be reached at 520.546.2747 and Cohen is at 520.546.2750.

To learn more, see RED Comp #6476.




Pima Council on Aging (PCOA) Purchase of 600 South Country Club Road

600 South Country Club Rd., Tucson, AZ

TUCSON, ARIZONA — Pima Council on Aging purchased the 15,000-square-foot office building located at 600 South Country Club Road in Tucson Arizona for $1,755,000 ($117 PSF).

Pima Council on Aging is Pima County’s leading expert on aging well, advocacy, and unbiased information for older people and their families. Founded in 1967, PCOA was among the first aging services organizations in the nation. They improve the experience of aging in Tucson and Pima County through direct services and partnerships. PCOA’s mission is to promote dignity and respect for aging, and to advocate for independence in the lives of Pima County’s older adults and their families. After renovation, the property will house a Healthy Aging Center to serve as a hub for aging services, providing older people, their families, and the community through healthy living classes, caregiver training, and a host of other services to help Pima County age well.

Dave Volk of CBRE Tucson, Inc. represented the buyer, and David Montijo and Ian Stuart, also of CBRE Tucson, represented the Seller.

For more information, Volk can be reached at 520.323.5102, Montijo is at 520.323.5136 and Stuart can be called at 520.323.5180.

To learn more see RED Comp #6534.




No Slowdown in Site for Tucson Multifamily Sales – Sierra Pointe & Montclair Apts. Close

Sierra Pointe Apartments

TUCSON, Arizona – Two multifamily apartment deals totaling 145-units and an aggregate sale price of $8.4 million sold in the first month of 2019.  Multifamily property sales are expected to continue to be a preferred investment with no slowdown in site for Tucson.

Colorado investors, Hung N Tran and Nina Tran purchased Sierra Pointe Apartments, an 84-unit apartment complex located at 2350 E, Water Street in Tucson, from Denver-based, Mainstay Investments, LLC for $5.2 million ($61,905 per unit.

The buyer was in a 1031 exchange.

Built in 1972, amenities include fitness center, cardio machines, spa, pool, bike storage, walking/biking trails, picnic area, barbecue area, and barbecue grills. Occupancy at time of sale was at 91% as of January 2019. 60% of the units are two-bedrooms and 39.3% are one-bedroom with one three-bedroom unit.

Art and Clint Wadlund of Berkadia in Tucson handled the transaction for the seller. It closed February 1, 2019.

For more information, Art Wadlund should be reached at 520.299.7200 and Clint Wadlund is at 520.615.1100.

To learn more, see RED Comp #6532.

Montclair Apartments

In a separate unrelated transaction, ZFI, LLC and KMS Properties, LLC of La Jolla, California purchased Montclair Apartments, a 61-unit apartment complex located at 811 & 835 N. Alvernon Way in Tucson, from Phoenix-based, Montclair by Bakerson for $3.2 million ($52,459 per unit).

Built in 1958, with 61 Units in 2-stories, with 1-bedrooms  2-bedrooms and 3-bedroom units. Amenities include gated, courtyard, picnic area, balcony or patio, pool, and laundry facilities.

Allan Mendelsberg, Multifamily Specialist with Cushman & Wakefield | PICOR, handled the transaction that closed January 30, 2019

For more information, Mendelsberg can be contacted at 520.546.2721.

To learn more, see RED Comp #6533.




California Investor Trades into ADP Building at Williams Centre fore $11.025 Million

5451 E Willimas Blvd., Tucson, AZ

TUCSON, ARIZONA — ADP building located in Williams Centre, 5452 East Williams Boulevard, traded to Allegretti & Company, Inc., out of Chatsworth, California for $11.025 million ($222.53 PSF). The class-A office building is 100% occupied by Automatic Data Processing (ADP).

Allegretti & Company (Joe Allegretti, President) was in a 1031 exchange.

Built in 2001, the ±49,543-square-foot building was sold by Pacific Service Company, Inc. and WCCP Williams Tech, LLC.

ADP, or Automatic Data Processing Inc., was founded in 1949 and is based in Roseland, New Jersey. The company is one of the biggest global providers of payroll and related human-resources management software and services.

ADP completely renovated the two-story building at Williams Centre, to accommodate its expansion two years ago. Phil Skillings of NAI Horizon’s Phoenix office represented the tenant.

Andrew Fosberg of CBRE’s Phoenix office and Nancy McCLure of CBRE’s Tucson office represented the seller in the transaction. Phil Skillings of NAI Horizon’s Phoenix office represented the tenant.

For more information, Fosberg can be reached at 602.735.1723 and McClure is at 520.323.5117.

To learn more, see RED Comp #6514.

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Northwest Exterminating Expands at the Shamrock Center in Tucson

TUCSON, ARIZON — Northwest Exterminating and Northwest Landscaping purchased a 2800-square-foot industrial building and 1.33 acre of vacant excess land in Shamrock Center for an aggregate total of $905,000. The company already occupies the building at 4645 N Shamrock Place and purchased the properties for expansion.

The building at 1771 W Dairy Place in Tucson sold for $650,000 ($232 PSF) and the vacant land at 4845 N Desert Gold Place in Tucson sold for $250,000 ($4.32 PSF) adjacent to each other.

Paul Hooker with Cushman & Wakefield | Picor represented the buyer, Northwest Exterminating and Northwest Landscaping, in the transaction.

Northwest Exterminating (NWE) started in 1990 as a Pre-Treat Company for new construction. It was started after a national company decided they no longer wanted to do Pre-Treatments and one of their employees, started the business with taking over the renewals of that company and agreements with builders. The company grew over the next 10 years due to the efforts of the original owners, Rod and Betty Elliot, and some employees of whom are still there today. One of those employees includes the second and current owner of the company, Chad Berg.

NWE has secured its position in the industry as the largest locally owned and operated pest control company in Southern Arizona. Northwest is consistently reported by the National Pest Management Association in the Top 100 Pest Control Companies nationally in the United States, a high industry point of recognition. Other notes of recognition that are highly valued in the pest management industry are being recognized by the National Pest Management Association (NPMA) as a Quality Pro company and Green Pro service provider. Quality Pro companies have proven to hold high standards of pest management and Green Pro service providers have a program certified by the NPMA as being an eco-friendly, responsible approach to pest management.

Its weed department became the first to become certified to service buffel grass projects in Arizona in 2013 by the Southern Arizona Buffel Grass Coordination Center and taking on large projects to eliminate this invasive weed species. The termite department is consistently credited by Dow Agro to be one to the top Sentricon (termite baiting system) providers in the country. The Pest Control Department Team derived of three divisions: Residential, Commercial and Specialty has specific recognitions to be highlighted.

The Residential Division continues to be the largest residential service provider in Southern Arizona including providing the NPMA recognized Green Pro service called our Saguaro Program or the Adobe Program.

Northwest Exterminating is a dedicated company with an elite team of employees with high standards of practice and an unmatched work ethic to deliver quality pest control solutions to customers.

For more information, Hooker should be reached at 520.546.2704.

To learn more, see RED Comp #6520 and #6526.




Berkadia Completes Sale of Canyons at Linda Vista Trail in Oro Valley for $41.25 Million

ORO VALLEY, ARIZONA — Northland Investment Corporation of Newton, MA (Matthew Gottesdiener, Chief Investment Officer) acquired Canyons at Linda Vista Trail, a 228-unit luxury apartment community in Oro Valley, for $41.25 million ($181,000 per unit). The purchase of the new development completed in 2014 by Boulder Oro Valley (Ross Rulney, manager) marks Northland’s second acquisition in Oro Valley.

Art and Clint Wadlund of Berkadia in Tucson handled the transaction for the seller. It closed January 8, 2019.

“Northland wanted to add and upgrade its Tucson portfolio,” Art Wadlund told us. “They also own Villas at San Dorado, and now have two of the nicest resort-style luxury apartment communities in beautiful Oro Valley submarket.”

In addition to the Oro Valley properties, Northland owns Hilands I & II and Promontory in Tucson.

Canyon at Linda Vista Trail is located at 9750 N Oracle Road and consists of one-, two- and three-bedroom apartment homes in 17 buildings spread out across 13 acres. It is fully stabilized and sold 96% occupied.

Residents enjoy high end apartments with convenient access to Canada Del Oro Riverfront Park, local parks, restaurants, shopping and entertainment; all with the gorgeous views of the mountains. Community amenities include gated access, hiking trails, pool & spa, state-of-the-art fitness center, pet park, putting green, clubhouse, bocce ball court, in-home washer & dryer, hardwood flooring, quartz countertops and stainless-steel appliances.

For more information, Art Wadlund should be reached at 520.299.7200 and Clint Wadlund is at 520.615.1100.

To learn more, see RED Comp #6497.

 




Iconic Deconcini Building on Broadway Sells for $4.73 Million

DeConcini Building, 2525 E Broadway, Tucson, AZ

TUCSON, Arizona – The iconic DeConcini Building at 2525 E Broadway in Tucson sold for $4.725 million ($147 PSF).

The 32,160-square-foot building located on 2.08 acres at the northeast corner of Broadway and Tucson Boulevards was 100% occupied at time of sale and purchased by Broadway Executive Plaza (Robert Assenmacher, manager). The seller was Du Besh LLC (Ken Silverman, manager)

Leasing was handled by Frank Arrotta and Doug Richardson of Tucson Realty and Trust.

The DeConcini family built the building in 1988 and sold it about eight years ago to the seller. Half of the building continues to be occupied by the DeConcini Law Firm. Other tenants include Salinas Insurance, Tucson Realty & Trust, The Veteran’s Administration and Sunstreet Mortgage.

Tom DeSollar, Broker, of Arizona First Properties LLC, represented the sellers, a local group of investors.

“The property had good fundamentals to attract buyers,” DeSollar said.  “It is near downtown Tucson with easy access to the University and the airport. The Broadway widening project will add value to the entire area.”

Brandon Rodgers, CCIM, of Cushman & Wakefield | Picor represented the investors.

For more information, DeSollar should be reached at 520.400.2732.  Rodgers can be contacted at 520.546.2714.

To learn more, see RED Comp #6507.




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

4349 E Tennessee St., Tucson

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 in 2009 to bathrooms, offices and meeting space. It was purchased to be owner occupied by Crandell Glass and Aluminum (CGA), a local company that specializes in commercial and residential glass and aluminum projects.

Aaron Crandell started Crandell Glass & Aluminum on May 18, 2010. A family owned and operated full-service glass & aluminum contractor. Using its 75 years of combined experience, CGA strives to bring personalized service and unparalleled results to every job regardless of size. From energy efficient sliding doors and windows, to automatic entrances and mirror and shower enclosures, Crandell Glass and Aluminum does it all with skillful design and expert craftsmanship.

Gary Emerson of GRE Partners, LLC in Tucson represented the buyer and Dave Gallaher of Tucson Industrial Realty represented the seller, Tucson Industrial Centers, Inc.

For more information Emerson can be reached at 520.777.4949 and Gallaher is at 520.294.1610.

 

 




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 property (21,000 SF) to the Town of Marana for road work, leaving 27,000-square-feet for construction of a 2,700 to 3,000-square-foot Jack-in-the-Box.

Will White and John Carroll of Land Advisors Organization-Tucson represented the seller, S. Chu Times Three, LLC (Susan Ong, manager). White and Carroll are the contacts for the balance of the Ong Family holdings in Marana.

“The Sandario Road area near the new roundabout is getting a lot of attention. The surge of new home activity in north Marana is fueling new demand for supporting uses,” said White. “The area is underserved from a commercial standpoint and we expect to see a lot of activity up there to fill that void.”

David Lee of David Lee Real Estate Company in Tucson represented the buyer, Revere Investments and continues to seek other development opportunities the area.

For more information, White and Carroll can be reached at 520.514.7454 and Lee should be contacted at 520.795.3199.

To learn more, see RED Comp #6525.

 




Anchorage Investment Group Buys Tucson Industrial Property for $12.45 Million

TUCSON, ARIZONA — Pacific Acquisitions, LLC an affiliate of Bond Commercial Properties purchased a 57,000-square-foot industrial building from Davis Selected Advisors located at 3601 East Britannia Drive in Tucson Arizona for $12.45 million ($218. PSF).

The property was fully occupied by a defense related tenant and sold in for investment.

The investor is based in Anchorage, Alaska.  Bond Commercial Properties, acquires, sells, and manages commercial real estate properties in Alaska, Arizona, New Mexico, Nevada, and Utah. The company manages various commercial properties, including warehouses, secure facilities, office buildings, and land leases for government and private corporations. It also guides customers in selling or purchasing commercial properties.

This was the third acquisition for the investor in the Tucson market.

Jesse Blum, Senior Associate, of CBRE’s Tucson office and Bill Divito, who passed away recently before the closing, represented the seller in the transaction.

For more information, Blum should be reached at 520.321.3335.

To learn more, see RED Comp #6498.




UCPSA Office Sold for New Chiropractic Office

601 N Craycroft Road, Tucson, AZ

TUCSON, Arizona — David D. Heaton, D.C. and Ida Drucilla Heaton of Tucson purchased the 4,080-square-foot building at 601 N. Craycroft Road in Tucson from United Cerebral Palsy of Southern Arizona (UCPSA) for $448,800 ($110 PSF).

Built in 1986 on an 18,900-square-foot lot, the property is located at the southeast corner of Craycroft and East 5th Street. The transaction closed on January 10, 2019.

Lori A. Casey of Oxford Realty Advisors represented the buyer and Richard M. Kleiner of Cushman & Wakefield | PICOR represented the seller in the transaction.

The property was purchased for the long-term practice of David Heaton D.C.  This ever-growing chiropractic practice’s new name is “Arizona Chiropractic and Spine Rehabilitation.”

For more information, Casey can be contacted at 520.232.0200 while Kleiner should  be reached at 520.748.7100.

To learn more, see RED Comp #6505.




LAO Jumps into January with $7.7 million sales closing in Northwest Tucson

Oro Valley, Arizona — Land Advisors Organization (LAO) Closed on $7.721 million in residential land deals in northwest Tucson since the start of 2019.

Pulte Home Company plans to plat for development 45 acres of land in Oro Valley at Rancho Vistoso. The land drew a sale price of $4.9 million ($108,888 per acre) in this all cash transaction. The Seller was a group of private investors doing business as VPII Loan, LLC and ML Manager, LLC of Phoenix.

Pulte plans to plat the parcels for a mixture of production lot sizes.

Will White and John Carroll with Land Advisors Organization (LAO) handled the transaction.

This is the same seller who sold 190 acres in October to a New York-based land investment REIT, JEN Arizona 32, LLC and affiliate TerraWest Communities (Mike Jesberger), Blocks 5H and 5I at Rancho Vistoso Neighborhood 5 in Oro Valley sold for $6.3 million. The transaction was also negotiated by LAO.

“This is a great location in the project. The homebuilder opportunities in Rancho Vistoso have become extremely limited and the production has been extremely strong,” said White. “We don’t expect future lot opportunities to be available for long up there and most are sold before we actually get out to market with them. Vistoso has extremely strong pricing power and demand and that really has been the driver.”

In a separate transaction, Mattamy Homes purchased 26 finished lots from Pusch Ridge Christian Academy, beneficiary of Cottonwood Properties (David Mehl, manager) at Blue Agave II in Dove Mountain. The lots are 70X130 and sold for $108,500 per lot, or $2.821 million.

The lots are contiguous to Mattamy’s current Blue Agave I subdivision with 192 lots purchased in 2016 when finished lot prices were $74,479 per lot.

Will White and John Carroll with Land Advisors Organization (LAO) also handled this transaction

“Dove Mountain continues to offer a great lot delivery program for the master-plan’s builders, allowing them to have a steady stream of lots on time,” White stated.  “The project currently is home to several homebuilders and is experiencing strong activity as we head into 2019. The northwest portion of the community has some of the best golf/desert frontage parcels in the northwest area of Tucson and the amazing views that come with them. We are expecting the coming year to be extremely active in Dove Mountain.”

For more information White and Carroll should be reached at 520.514.7454.

To learn more, see RED Comp #6475 and #6479.