TUCSON, Ariz. (June 4, 2025) – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of University Lofts, a 41-unit apartment property located in Tucson, Arizona. The asset sold for $5,400,000 ($131,707 per unit).

Hamid Panahi, senior vice president of investments, and Clint Wadlund, senior vice president of investments in Marcus & Millichap’s Tucson office, had the exclusive listing to market the property on behalf of the seller, BRAD Management. The buyer, a limited liability company, was also procured by Panahi and Wadlund.

University Lofts is located at 819 North 1st Avenue in Tucson, Arizona. The property is positioned due west of the Main Gate entrance to the University of Arizona, along the Sun Link Streetcar route. Main Gate Square, one city block of core university retail featuring approximately 30 restaurants and 20 retailers, is all that stands between the property and the University of Arizona.

For more information, Wadlund can be reached at 520.719.6525, and Panahi is at 520.719.6511.

Reference: RED Comp #11764.

9538 E Old Vail Road in Rita Commerce Center, Tucson (Vail) AZ

TUCSON, AZ (April 4, 2025) — Old Vail Partners, an affiliate of Diamond Ventures, sold the industrial property with two buildings at 9538 E Old Vail Road in Tucson for $22 million ($227.51 PSF) to The Sundt Companies, Inc.

Built in 2009, the buildings are a 39,290-square-foot building and a 57,408-square-foot building with five dock-highs and eight grade-level doors. The former tenant was TuSimple, and the buyer will occupy it for its mining and industrial construction deployment division.

The new Vail Sundt Center will be a 96,698-square-foot facility in two two-story buildings in the growing community of Vail, Arizona, strategically located for transportation and logistics with its proximity to major highways, railways, the Port of Tucson, and Tucson International Airport.

The sale occurred on March 24, 2025.

Sundt has been making its mark in mining construction since 1939 and has served a diverse range of clients in the power, mining, cement, chemical, and manufacturing industries. Its work is supported by an unparalleled start-up and commissioning team that ensures that every industrial construction project is seamlessly integrated with the necessary instrumentation for smooth operation.

The company’s trade work includes earthwork, underground utilities, concrete, structural steel erection, process mechanical, equipment setting, and boilermaker services. These resources are utilized in power generation facilities, mines, industrial projects, and treatment plant facilities. Additionally, Sundt’s Equipment Services department owns, operates, and maintains a fleet of over one hundred pieces of heavy equipment, which is crucial in its self-perform work capabilities.

The Target distribution center, Blue Bell Creameries, Faribault Foods, Raytheon, IBM, and the University of Arizona Tech Park are nearby.

Both buyer and seller were self-represented in this transaction.

To learn more, subscribers should refer to RED Comp #11804.

Dutch Bros at 1971 West Valencia Road, Tucson, AZ

TUCSON, AZ (April 3, 2025) – The Dutch Bros at 1971 West Valencia Road in Tucson sold for $1.9 million ($2,306 PSF) in an investment sale.

The 824-square-foot Dutch Bros was built to suit for Dutch Bros and opened in 2019 with a drive-thru and outdoor eating area. It sold with nine years remaining of a 15-year triple net lease and three 5-year options remaining.

Located adjacent to major retailers, such as IHOP, Culvers, CVS, Pizza Hut, Big O Tires, Lowe’s, Walmart, Fry’s Food and Drug, Harbor Freight, and Tractor Supply Co.

This Dutch Bros ranks in the 92nd percentile per Placer AI reporting, with 734,000 annual visitors.  The area has strong demographics of +/- 134,631 residents within a 5-mile radius.

The workday population is +/—44,421 employees and +/—23,569 total households within a 3-mile radius, and Valencia Road has +/—48,038 VPD.

Dutch Bros Coffee (NYSE: BROS) has over 900 locations in 18 states across the country. It has seen exceptional revenue growth from $739M in 2022 to over $913M in 2023, and its expected 2024 revenue is around $1.23 billion.

The seller was Cynthia J Fritz, trustee of the Jane Cheatum Trust and Noah Cheatum Construction Company, of Laguna Niguel, CA.

The buyer was Phoenix-based COGNYZANT, LLC, Mr. Ajay Kumar., trustee.

Alex DeSoto and Josh Jenkins with Matthews Real Estate Investment Service in Orange County, CA, handled the sale for both the seller and investor.

For more information, DeSoto and Jenkins should be reached at 866.889.0550.

To learn more, subscribers can refer to RED Comp #11786.