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

415 S 6th Ave., Tucson, AZ

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 school 10-years ago and has been vacant for about 5 years.

The buyers, major developers in Downtown Tucson, purchased the vacant property to rehab into 30 residential units with retail on the ground floor. The 15,736-square-foot building, built in 1948, will be renovated into two-thirds residential use, 18 loft units upstairs and one-third retail.  The 1.37 infill acres is platted for four 4-plexes which will add an additional 16-units and a two-level parking structure on the large lot.

“Retail on ground level was tenant inspired by a Phoenix restaurant / bar owner,” Schwabe said.  “Retail space downtown is in very high demand these days.”

The seller, Saint Augustine Cathedral Roman Catholic Parish, was represented by Pat Welchert with Cushman & Wakefield | Picor at time of sale, and now with Alpha Commercial Real Estate Service in Tucson.

Welchert can be reached at 520.360.9394, for more information.

To learn more, see RED Comp #4685.

98-112 E Congress St., Tucson, AZ

Another Dabdoub and Schwabe investment group bought the former Wig-O-Rama building at 98-112 E Congress Street Downtown Tucson for $950,000 ($89 PSF).

The 10,630-square-foot two-story building was built in 1915 on a 9,900-square-foot lot at Congress and Scott Avenue. The building was vacant at time of sale. There are five tenant spaces currently that buyers plans to split one space for six tenants.

Although Schwabe wasn’t ready to announce any tenant names, he said there’s plenty of demand downtown, and several restaurants have shown an interest in this space. “We could lease these spaces quickly, but we’re trying to create a synergy between the tenants there,” Schwabe said. “We’re currently talking to The Loft Cinema to do a one screen trial here.”

Kristy Kelley with Long Realty represented the sellers, Suk Hoo and Myung Soo Kim. Schwabe with Peach Properties in Tucson represented the investors in both transactions.

For additional information, Kelley should be contacted at 520.299.2201 and Schwabe is at 520.798.3331.

To learn more, see RED Comp #4665.

 




The Clover Company Trades into Industrial Investment for $1.6 Million

4675 S Coach Dr, Tucson, AZ

TUCSON, Arizona — Local investment group, The Clover Company (Paul Kraft, CEO) through affiliates, Princeton GM and 4675 Coach Drive, LLC traded into an industrial investment at 4675 S Coach Drive and excess land in the Butterfield Business Park in Tucson for $1.6 million.

The 16,568-square-foot building on .98 acres was built in 2000 in the Butterfield Commerce Park sold on cap rate. It was fully occupied by a single tenant, Gyros Protein Technologies, a world leader in research and utilization of microfluidic technologies used to miniaturize and automate immunoassays. Gyrolab immunoassay platforms increase productivity and efficiency during development of biotherapeutics and vaccines, saving time, labor and sample. Major biopharmaceutical companies and their service providers utilize Gyrolab platforms to boost time-critical workflows and meet increasingly stringent regulatory demands.

The seller, Rainin Tucson, LLC of Oakland California also sold Lot 38 at Butterfield Business Park to the investor, a 4.01 acre vacant lot that was purchased for resale.

Rob Glaser with Cushman & Wakefield | Picor represented the seller in the transaction and is also marketing the vacant lot for the buyer.

For additional information, Glaser should be reached at 520.546.2707.

To learn more, see RED Comp #4684 and 4691.




Modern Lift Expanding to new Industrial Building in Tucson

6080 S Masterson Ave., Tucson, AZ (courtesy photo)

TUCSON, Arizona — Modern Lift, Inc. (Bill and Mary Riley, owners) purchased an industrial building with yard at 6080 S Masterson Avenue in Tucson for $343,000 ($42 PSF).  Purchased for expansion of the business, the company is currently located at 3175 E 46th Street in Tucson.

Modern Lift Inc offers sales, rental and repair of material handling equipment. A family owned business serving Tucson and surrounding areas since 1991, the company provides forklifts, golf carts, trucks and other various types of equipment requirements to handle any job.

Warehouses, shipping services, grocery stores and many other types of businesses depend on Modern Lift’s material handling services.

The new location is at the northwest corner of Bilby and Masterson, near Drexel and Palo Verde Roads.  The 8,125-square-feet building, built in 2009, is double their current warehouse space and a 1,000-square-foot office. The property has concrete loading and parking area in the front with a secure fenced yard on .80 acres.

The property was sold in an REO sale by Wells Fargo.

Pat Welchert of Cushman & Wakefield | Picor in Tucson represented both parties in the transaction.

For more information, Welchert can be reached at 520.546.2748.

To learn more, see RED Comp #4634.




Tucson Office Sales in March Total $8.9 Million

3100 N Campbell Ave, Tucson, AZ

March office sales totaled $8.9 million, and represented 43% of the office sales for first quarter 2017. The following is a few of those sales:

Siempre Juntos, LLC of Tucson purchased a 10,628-square-foot office building located at 3100 N. Campbell Ave. in Tucson, from Gibeault Office Company, LLC for $1,530,000 ($144 PSF).  Property sold with 2,212-square-feet vacant and a long-term tenant, Leoni Wiring in approximately 8,200-square-feet.

Rick Kleiner, MBA, and Tom Nieman, Office Specialists with Cushman & Wakefield | PICOR handled the transaction.  Rick Kleiner represented the seller, and Tom Nieman represented the buyer.

To learn more, see RED Comp #4693.

415 S 6th Avenue, Tucson, AZ

415 S. 6th Avenue, LLC of Tucson (Ron Schwabe, manager) purchased a 15,736-square-foot building situated on 1.0 acre at 415 S. 6th Avenue in Tucson for $1.5 million ($95 PSF). The seller was Saint Augustine Cathedral Roman Catholic Parish.

Pat Welchert, SIOR, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction.  Ron Schwabe with Peach Properties HM, Inc. was self-represented in the transaction.

To learn more, see RED Comp #4685.

1575 N Swan Rd., Tucson, AZ

Vasquez Construction Company, Inc. of Tucson purchased a 5,440-square-foot medical office building located at 1575 N. Swan Rd. in Tucson, from The Sumwalt Living Trust for $800,000 ($147 PSF) for investment. The property was fully leased at time of sale to three tenants.

Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction and  Chris Tsighis with Coldwell Banker represented the buyer.

To learn more, see RED Comp #4722.

2430 E 6th Street, Tucson, AZ

Pinnacle Realty Investors, LLC of Tucson (Jarrett Reidhead, manager) bought the office building at 2430 E 6th Street in an REO sale from U.S. Bank for $495,000 ($77 PSF). The property was sold 75% occupied by LifeShare. Buyer plans to occupy the remainder of the 6,400-suqare-foot building.

Joe Kimaz of Madison Commercial Properties represented the bank and Tim Bott of Bott-N-Sold Realty was representing the buyer.

To learn more, see RED Comp #4667.

1636 N Swan Rd., Tucson, AZ

Nardelli Building, LLC of Tucson (Vic Williams, manager) bought the property at 1636 N Swan Road for $475,000 ($51 PSF) from American Cancer Society. The office building is connected the buyer’s adjoining property to the north. Both properties share a common courtyard, elevator and other amenities. Property was formerly occupied by the American Cancer Society and was 100% vacant at time of sale.

Ian Stuart and Wyatt Campbell with CBRE represented the seller in the transaction. Tom Nieman with Cushman & Wakefield is leasing the space for buyer.

To learn more, see RED Comp #4635.

1601 N Tucson Blvd., Tucson, AZ

38 Patents, LLC of Tucson (Mike Rollins, member) purchased the Medical Condominium at 1601 N Tucson Blvd. #38 at Tucson Medical Square for $117,500 ($100 PSF). The condo has two offices, kitchen, restroom and storage. Buyer purchased to owner occupy.

Tari Auletta with KW Commercial represented the seller, The Chen Family Living Trust. Kristy Kelley with Long Realty represented the buyer.

To learn more, see RED Comp #4690.

 




Good News for Q1 Tucson Office Market from 360-degrees

5151 E Broadway Blvd, Tucson, AZ

TUCSON Arizona — Everyone expected a positive Tucson Office Market report for Q1 2017 as it trends upward, but it may be doing even better than expected.

We spoke with Tom Nieman, Office Specialist at Cushman & Wakefield to ask what was happening.

Nieman told us from 2010-2015 office vacancy had hovered around the 12%-13% mark in Tucson. However, this first quarter 2017 had an office vacancy drop to 10.9%. That’s almost a full percentage point drop year-over-year from when it was 11.7%.

“Businesses are feeling optimistic with the economy doing better, and businesses growing need more space,” Nieman said. “Some are even buying land when they can’t find what they want to build.”

Sales volume, according to RED Comps, which tracks all commercial sales in Pima County, is up by 51.94% in Q1 year-over-year, with the median sale price rising from $275,000 in Q1 2016 to $390,000 in Q1 2017.

“We’re not out of it (the recession) yet, but we sure are seeing improvement,” Nieman remarked.

Another sign of the improving economy is at 5151 E. Broadway, an approximately 250,000-square-foot, 17-story, Class-A office tower in Tucson with 360-degrees of breathtaking views, where Rick Kleiner and Tom Nieman, represent the landlord.

When Bayview Loan Servicing recently leased 39,627-square-feet of office space at 5151, this marked an 85% occupancy for the building, with all the full floors now leased.

Mark Irvin, CCIM, SIOR, of Mark Irvin Commercial Real Estate Services, who specializes in the office market had this to say, “This may be the highest occupancy the building has ever experienced in the 30 years I have been focusing on office properties in Tucson.”

Janine Irvin, CCIM, and Mark Irvin have a sublease on the ground floor. “This leaves the block of space we are representing on the ground floor (Tucson College Space) the largest block – just over 40K SF.   That space, although occupied, is available for sublease.   Good news for both the market and for Tucson’s largest multi-tenant office building,” Irvin expressed.

Kent Circle Partners, an affiliate of Seldin Real Estate, Inc. of Scottsdale owns the 5151 E Broadway tower and with the renewed enthusiasm in the market is doing a major remodel of the lobby and elevators. Adding a Destiny Dispatch System to the elevators, an optimization technique used for multi-elevators, which groups passengers for the same destinations into the same elevators, thereby reducing waiting and travel times when compared to a traditional elevator system where all passengers wishing to ascend or descend enter the same elevator and then request their destination. This is but one of the upgrades the owners are currently undergoing at 5151 to modernize the building.

Kent Circle Partners specializes in acquiring high-quality mixed-use real estate assets.

For additional information, Nieman can be reached at 520.5446.2728, Kleiner is at 520.546.2745 while Janine and Mark Irvin should be contacted at 520.620.1833.

 

 




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 like Richmond.

Richmond American ran circles around other home builders this quarter in metro Tucson. Out of 490 total lots sold in the quarter to home builders, Richmond bought over 50% or 249 lots, with D.R. Horton second having acquired 145-lots and Lennar third with 68-lots.

Tucson home sales along with prices continue to rise as they have over the past four years amid ever-tightening supply and a shortage of buildable lots. Fears that higher home mortgage rates this year would keep buyers away appear to have been overblown. But now, a new test to home builders will be the almost non-existent finished lots.

Not to be left short, Richmond has continued growth on all fronts, buying platted lots, developing them and selling homes as quickly as they can be built in most communities.

Richmond will have three brand-new communities to their credit later this year. La Estancia’s 99-lots in the Vail area, Santa Rita III with 68-lots also in the Vail area,  and a third new community that closed on March 31st at Vahalla Estates.

Vahalla Estates is a new subdivision consisting of 65 lots, located at the southeast corner of Valencia Road and Vahalla Road in the western submarket of Tucson.  Lot sizes are mostly 50’x 120’ at Vahalla Estates.

Ben and Adam Becker of CBRE Tucson represented the home builder and the seller, Heater Investments, Inc. (Joe Heater, manager) in the transaction. The purchase price was $617,500 ($9,500 per platted lot).

Another 17-lots recently purchased by Richmond were at Eagle Crest Ranch, located in Pinal County, just over the border. Richmond is closing out this master community with its final 38-lots.  The purchase price for the 17-lots was $824,500 ($48,500 per finished lot) with an option for the remaining 21-lots later.

Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson handled the transaction.

In January, Richmond American debuted Santa Cruz Meadows in Sahuarita, a beautiful collection of ranch-style homes with personalized options. And Linda Vista Heights in northwest Tucson that celebrated its grand opening in March.

Linda Vista Heights, Eagle Crest and Santa Cruz Meadows each with four or more floor plans offer 3-5 bedroom homes from the $200s.

A growing shortage of buildable lots for new homes will push up home prices in many U.S. markets. That’s the word from the National Association of Home Builders (NAHB), which says the availability of new-home lots is at a historic low, just as U.S. home builders are feeling more optimistic about their sales prospects than they have been since the high-flying days of the housing boom.

To learn more, see RED Comp #4702.




BMO Bank Oro Valley Sells for $2.62 Million

BMO Bank, 10655 N Oracle Rd., Oro Valley, AZ

ORO VALLEY, Arizona — The BMO Bank at 10655 N Oracle Road in Oro Valley sold in a triple net investment sale for $2.62 million ($518 PSF).

An outparcel to Target, Ross, Office Max, PetSmart and Fry’s Center and across from The Home Depot in Oro Valley, with a new 10 Year Absolute NNN Lease, Zero Landlord Obligations lease and annual 2% Increases in Rent.

The 5,058-square-foot bank building was built in 2005 and sits on a .92 acre outparcel. BMO has been there since 2014.

BMO Harris Bank Corporate Guaranty – NYSE: BMO S&P Rated A+ Investment Grade Credit Trophy Location with High Income Demographics 16th Largest Commercial Bank in the U.S.

Jacob Abusharkh with SVN The Kaser Group in San Fancisco handled the transaction for CP Maple Leaf LLC of Los Angeles and the buyer, Robert Davies Volk of San Marino, California.

Abusharkh can be reached at 415.269.2474.

To learn more, see RED Comp #4663.




One of Nation’s Largest REITs Grows Portfolio with Tucson’s Dave & Buster’s for $10.2M

Dave & Buster’s, 1390 E Tucson Marketplace, Tucson, AZ (Photo: Pima County Assessor)

Spirit Realty Capital attracted to Tucson Marketplace at the Bridges Buys Second Investment Property Here

TUCSON, Arizona – Spirit Realty Capital (NYSE: SRC) of Dallas Texas, one of the largest publicly traded triple net-lease real estate investment trusts (REITs) acquired the brand-new Dave & Buster’s Sports Bar at 1390 E Tucson Marketplace Blvd. in Tucson for $10.2 million ($339 PSF) for its portfolio. The all-cash deal closed on March 31st.

Located on the south side of Tucson, this newly constructed 30,000-square-foot Dave & Buster’s opened on April 3rd bringing with it 240 jobs. Located at Tucson Marketplace at the Bridges, this is the first Dave & Buster’s location in Tucson and only the fourth in Arizona.

Dave & Buster’s Entertainment, Inc., (NASDAQ: PLAY) founded in 1982 and headquartered in Dallas, Texas, is the owner and operator of 92 venues in North America as of January 2017. The concept is to combine entertainment and dining and offer customers the opportunity to “Eat, Drink, Play and Watch,” all in one location.  Dave & Buster’s offers a full menu of “Fun American New Gourmet” entrées and appetizers, a full selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events.  Dave & Buster’s currently has stores in 33 states and Canada.

This is the second investment purchase at Tucson Marketplace for Spirit which also acquired the adjoining Century Tucson Marketplace-14 Theatres at 1300 East Tucson Marketplace Blvd. for $15.8 million in February. See full story here.

Spirit invests in single-tenant, operationally essential real estate: free-standing facilities where tenants conduct activities that are necessary for their sales and profits. Spirit has approximately 17% of its portfolio in Casual Dining and Quick Service restaurants.

Dave & Buster’s at Tucson Marketplace was sold by Eastbourne Investments, Ltd of Toronto, Canada and New York, the developer of Tucson Marketplace.

Randolph Titzck and Chad Russell with Land Advisors Organization in Phoenix represented the seller, Eastbourne Investments. Chad Tiedeman and Steve Underwood with Phoenix Commercial Advisors represented Spirit Realty.

For more information, Titzck and Russell should be reached at 480.483.8100. Tiedeman and Underwood can be contacted at 602.957.9800.

Dave & Buster’s are still hiring, employment applications can be found at daveandbusters.com/careers.

To learn more, see RED Comp #4701.

 




Marshall Foundation Buys Ground Lease at Main Gate Square in Tucson

Pelio Grill, 980 E University Blvd., Tucson, AZ (Photo courtesy Pelio Grill)

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 3.9-mile route.

The Marshall Foundation owns and manages most of the real estate in Main Gate Square. When the opportunity arose to purchase a ground lease in Southwest Plaza, a portion of Main Gate Square, at the southwest corner of Park and University, the Marshall Foundation took it with seven years remaining on the ground lease.

The two-story, 14,498-square-foot building (built 1975) was redeveloped and leased to nine retail and office tenants by the Marshall Foundation, with only 371-square-feet available at time of sale. Tenants of the property include Pelio Grill, Jimmy John’s, US Marine Corps, Cost Cutters, Oriental Express, Campus Apartments, Fox-in-a-Box, and Sanctity Tattoo.

U of A’s culturally diverse campus holds over 38,000 undergraduate and graduate students, 15,000 employees as well as 19 intercollegiate athletic programs and a wide variety of academic programs. Central to the entire Tucson metropolitan area Main Gate Square and the University of Arizona are an important focal point of Tucson.

Over 292,000 people live within a 5-mile radius of Main Gate Square.

The Marshall Foundation through the management of its real estate assets and redevelopment of Main Gate Square, under the direction of Jane McCollum, General Director & President of Real Estate, has donated over $16 million to the University of Arizona primarily in the form of scholarships or special projects and to over 250 not-for-profit organizations in Pima County that serve youth and promote education, arts, culture and health and wellness.

Scott Soelter of NAI Horizon in Tucson represented the seller, Kettenbach LLC of Tewsbury, MA (Michael Kettenbach, manager). Tamra Williamson of Bourn Advisory Services represented the buyer. Williamson also handles Main Gate Square leasing.

For more information, Soelter can be contacted at 520.326.220 and Williamson should be reached at 520.290.2335.

For more information visit www.marshallfoundation.com.

To learn more, see RED Comp #4618.

 




Tucson Group Buys Former Valero Pad at Grant & Tanque Verde for Redevelopment

Aerial Site (Courtesy photo)

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 and kiosk with 3 dispensers for 6 fueling stations sits on an 18,000-square-foot pad is located in the Target Shopping Center at Grant and Tanque Verde.

The property shares the lot with Albertson’s, Target, McDonald’ s, Boston Market, and Taco Bell near Jiffy Lube, Goodyear Auto Service Center, Discount Tire Store & Enterprise Rent-A-Car.

Property sold to lease or for resale to be redeveloped for a new retail use based on tenant requirements.

Alexander Pavone of Commercial Plus in Scottsdale represented the seller Grant 6630 LLC of Scottsdale (Russell Scaramella, manager) and Steve Grimm with Grimm Commercial was self-represented in the transaction.

For more and redevelopment information, Grimm should be reached at 520.795.5200.

To learn more, see RED Comp #4568.

 




InterOptics Chooses Shamrock Center for its Manufacturing Facility

4854 N Shamrock Pl., Tucson, AZ 85705

TUCSON, Arizona — Optical instrument inventor Dr. Chris Koliopoulos and Shamrock Place Arizona LLC, purchased 4854 N Shamrock Place in Tucson for his latest optics company, InterOptics. The 17,500-square-foot industrial building was constructed in 2002, and sits on 1.85-acres at Shamrock Center located at Ruthrauff and La Cholla Blvd in the central submarket of Tucson. It is intended to manufacture the company’s optical measuring devices from here.

The property was previously occupied by Granite Plus as a showroom / warehouse and commanded a sale price of approximately $1.1 million ($62.82 PSF) in an all- cash transaction.

Considered a leading expert in optical interferometry, Dr. Koliopoulos has a keen understanding of all aspects of a technology business, having founded and led two successful optical metrology businesses, and served as President of ADE and Zygo. He has also served on the faculty at the University of Arizona’s Optical Sciences Center and has a B.S. in optics from the Institute of Optics at the University of Rochester and M.S. and Ph.D. degrees from the University of Arizona.

With a strong track record of delivering growth and increasing value at advanced optical instruments companies and a deep understanding of the optical markets, gained through 20 years of executive leadership experience, Dr. Koliopoulos started InterOptics in 2016.

Tony Reed with Long Realty in Tucson represented the seller, DLG Shamrock LLC (John De Lorenzo, Manager) in the transaction, while Bill Divito and Jesse Blum of CBRE in Tucson represented the buyer.

For more information, Reed can be reached at 520.403.2150; Divito should be contacted at 520 321.3339 and Blum can be called at 520.321.3335.

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

Auto Safety House, 1402 E Benson Hwy, Tucson, AZ

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, with 4 grade level bays sits on a 3.22 acre lot with immediate visibility from I-10 in the southern sub-market of Tucson.

One Equity Partners, a middle market private equity firm, and its partner the W.W. Williams Company, LLC (“W.W. Williams”) acquired Auto Safety House in Arizona, the Thomas Built Bus distributor for the State of Arizona. Auto Safety House will operate as a brand under the ownership of W.W. Williams, a provider of mechanical repair services and products for commercial trucks, diesel power generators, warehousing, inventory management and logistics services.

Founded in 1941, ASH is one of the largest providers of parts and customized installation services in Arizona. The Phoenix-headquartered Company’s three facilities provide customized “Total Fleet Solutions” for bus and truck equipment service to the majority of Ford, GM, and RAM vehicle dealerships in the region. ASH, which serviced more than 2,500 customers in 2016, also offers mobile services, and serves as a distributor to nearly 30 equipment manufacturers specializing in high-end truck body, parts and equipment that include the Knapheide and Reading brands.

“ASH provided an excellent opportunity to expand W.W. Williams’ relationships with key OEMs in the Southwest, add expertise in retail parts, and bring traditionally outsourced fleet maintenance and repair work in-house,” said Matt Hughes, Director at One Equity Partners. “The complementary offerings make this a perfect addition.”

“ASH and W.W. Williams share many qualities, including culture, a dedication to highly professional service, and strong relationships with our customers,” said John Simmons, Chief Executive Officer of W.W. Williams. “This transaction significantly expands our market share, geographic presence, sales volume, end-to-end specialty service maintenance and repair offerings; and it enhances our ‘bumper to bumper’ customer relationships.”

One Equity Partners acquired a majority equity interest in W.W. Williams in August of last year, investing alongside the Williams family and company’s management team. The investment positioned W.W. Williams to further strengthen its rapidly growing sales and service network, grow its fleet maintenance operations, enhance technical capabilities and reinforce customer service support in existing territories.

“We believe joining W.W. Williams will further enhance our core competencies, including service offerings, sourcing capabilities, and together creates an opportunity to expand the Company’s up-fitting capabilities on a regional and national basis” said Mike Iben, CEO of ASH, who will continue to manage ASH and assume additional responsibilities at the company.

Ron Zimmerman of Cushman & Wakefield | Picor represented the seller , Tucson Benson Ventures of San Diego and Brandon Rodgers, CCIM, also with Cushman & Wakefield | Picor represented the buyers, Gregory and Sandra D’Innocenti and Family Trust of Sahuarita, AZ.

“The buyers liked the property leased to ASH,” said Zimmerman, “and liked it even more after the business acquisition was known. The larger W.W. Williams had 17 locations at the time and further enhanced the investment.”

For more information, Zimmerman can be reached at 520.248.0427 and Rodgers should be contacted at 520.546.2714.