TUCSON, AZ (Feb. 13, 2026) — Two REO-related multifamily transactions closed Feb. 6, 2026, in Central Tucson for a combined $37,000,000, reflecting lender-controlled dispositions following foreclosure.

Metro Tucson Apartments, a 232-unit community at 3985 N. Stone Ave., sold for $24,050,000 ($103,663 per unit) in an REO sale. The property totals 128,690 square feet on 6.85 acres and was built in 1984. The sellers were N Stone Ave LLC and Ashbran Properties LLC, c/o Vertical Street Ventures (Scottsdale). The buyer was Metro Tucson Apartments LLC, c/o DGE Investments, LLC (San Francisco).

Equinox on Prince, a 114-unit property at 1625 E. Prince Rd./3699 N. Cherry Ave., sold for $12,950,000 ($113,596 per unit) in an REO sale. The property totals 72,987 square feet on 4.72 acres and was built in 1964. The seller was 1625 E Prince, LLC, c/o Vertical Street Ventures (Scottsdale). The buyer was Equinox Prince Apartments LLC, also c/o DGE Investments, LLC (San Francisco).

The circumstances behind the REO actions were not disclosed, and there was no broker representation. However, both properties last traded in 2022, and many deals completed between 2020 and 2022 were financed with bridge loans—often at floating interest rates. When rates surged, debt service rose sharply, in some cases nearly doubling, while property income did not increase fast enough to offset the change, which can quickly push cash flow negative. Now that low-rate loans are maturing, even stable properties can struggle to refinance: today’s terms typically support smaller loan proceeds unless net operating income has grown substantially. In many cases, owners must contribute new equity to close the gap, something not all borrowers can afford or are willing to do.

Multifamily trades frequently, uses more leverage, and is widely held by syndicators, so it’s more exposed to debt markets and refinancing cycles. Also, big portfolios financed with similar structures can tip all at once.

Source: RED Comp #12333 and #12334.

TUCSON, AZ (February 12, 2026) — As the 2026 Tucson Gem Show season ramps up across dozens of venues citywide, two recent Central Tucson property sales underscore a familiar reality for the industry: operators, dealers, and show-adjacent businesses need more than booth space — they need flexible buildings for storage, staging, shipping, security, and year-round back-of-house functions.

Former “Arts For All” on Oracle trades for $850,000

An 8,758-square-foot retail building at 2520 N. Oracle Road sold Jan. 16, 2026, for $850,000 ($97 PSF). The property sits on 1.1 acres and was formerly occupied by “Arts for All”. The seller was JCC-AFA Land LLC c/o the Tucson Jewish Community Center, and the buyer was Alec Day of Ogden, Utah.

The buyer is associated with the Tucson Gem Show and acquired the building for gem show-related functions. The property features ample parking, a covered playground area, and solar panels. The sale was marketed by Cushman & Wakefield | PICOR, Allan Mendelsberg and Kameron Norwood representing the seller, and Michael Coretz with Commercial Real Estate Group of Tucson representing the buyer.

Former Bailey’s Fabric & Supply sells for $1.45M for gem show use

In a second sale tied directly to gem show operations, the 12,068-square-foot industrial building at 1401 N. Bailey Lane sold Jan. 30, 2026, for $1,450,000 ($120 PSF). The property, built in 1984, sits on 0.96 acres and was an owner-user transaction.

BFS Real Property LLC of Tucson was the seller, and Geoworld Inc. was the buyer of 1401 N Bailey Lane in Tucson. Geoworld also owns 1635 N Oracle in Tucson, used as a gem-and-fossil venue/showroom complex: “The Co-op: Mineral & Fossil Galleries.” Located in Tucson’s “Mineral & Fossil District” it serves as a year-round gallery/show space and a Gem Show venue during winter shows.

The buyer purchased the latest facility for undisclosed gem show use, described as a functional warehouse setup with office space, two grade-level roll-up doors, and a fenced/gated yard — the kind of logistics-friendly configuration that can support receiving, packing, secure storage, and short-term staging during peak show weeks. The transaction was handled by Waco Starr and Veronica Vondrak of Long Realty Company, who represented both the buyer and the seller.

Why these “behind-the-scenes” buildings matter right now

While many visitors think of the Gem Show as a series of public-facing exhibits and marketplaces, the operational footprint is much larger. Peak season requires additional off-floor capacity for inventory, staff workrooms, shipping/receiving, displays, security, and customer appointments — and increasingly, that demand extends beyond a few weeks a year as businesses convert seasonal relationships into year-round sales channels.

That demand was particularly visible this year, with major shows spanning late January through mid-February. For example, the JOGS International Exhibits winter event ran Jan. 28–Feb 8, 2026, at the Tucson Expo Center, drawing both wholesale and public traffic. The American Gem Trade Association GemFair was held this year from Feb. 2–Feb. 6, 2026, at the Tucson Convention Center. The Kino Gem & Mineral Show, which opened Jan. 29, continues through Feb. 15, 2026, at the Kino Sports Complex — one of the city’s largest for gem show activity.

A real estate takeaway for Tucson’s winter economy

Together, these two sales highlight a niche but durable slice of Tucson’s winter economy: well-located retail/industrial buildings with parking, yard space, and flexible layouts can become strategic assets for gem show operators and affiliated businesses — not just for a single event, but for ongoing operations tied to one of Tucson’s most internationally recognized seasonal industries.

TUCSON, AZ (Feb. 11, 2026) — A former Eegee’s drive-thru building on Tucson’s Southside has traded hands in an all-cash investment sale.

MAC Retail Properties LLC purchased the 2,342-square-foot retail building at 1995 E. Ajo Way, Tucson 85713, for $1,300,000 ($555.08 PSF) on Jan. 16, 2026. Built in 2022, the property sits on 0.67 acres (29,153 square feet) and includes a drive-thru. The sale was identified as an investment sale, in this all-cash transaction.

The seller was Myeongga Inc, with Joon Sok Kim listed as manager. The buyer was MAC Retail Properties, LLC, Cameron Wilson, a member. The buyer’s use for the property was undisclosed.

It was marketed by Marcus & Millichap’s Phoenix office, with Scott Ruble (602-687-6700), Mark Ruble (602-687-6700), Christopher Lind (602-687-6780), and Zack House (602-687-6650) representing both sides of the transaction.

Source: RED Comp #12313