Tuesday, January 16, 2018

Downtown Tucson Has Final Puzzle Pieces Coming Together

TUCSON, Arizona -- Developers Ron Schwabe and Marcel Dabdoub purchased the historic Gus Taylor building at 128 East Congress in Tucson for $850,000 ($124 PSF). Vacant at time of sale, the 6,875-square-foot, 2-story with mezzanine building, built in 1916, sits adjacent to the former Chicago Music Store. The first...

Trending: Tucson Office Sales up 27% year-over-year

TUCSON, Arizona – According to RED Comps, tracking all commercial sales, Tucson office sales volume for the first two months in 2017 are up by 27% year-over-year with only three more sales for the same period, prices are trending upward. Average sale price year-over-year is up by $10,000 from...

Cali Investor Pays $54M for Tucson Far Horizons MHP and RV...

TUCSON, Arizona – Cal Am Properties, Inc of Encino, California (Steve Hester, CEO) purchased the Far Horizon East Mobile Home Park at 7570 E Speedway Blvd. with 415-space for $33 million ($79,518 per space) and the adjoining Far Horizons RV Resort at 555 N Pantano Road with 514-spaces for...

Three Tucson Hotels Fetch $14.58 Million at Auction

TUCSON, Arizona - HSL Properties (Omar Mireles, president) of Tucson acquired the 109-room Hampton Inn & Suites at 5950 N Oracle Road and the 76-guestroom TownPlace Suites by Marriott at 5900 N Oracle Road in Tucson for an aggregate price of $12.06 million ($65,189 per room) at auction. The seller,...

Arizona Investors Buy MHP and RV Parks Totaling $11.58 Million

TUCSON, Arizona -- The South Forty RV Park Ranch at 3600 West Orange Grove Road, Marana in the Northwest submarket, sold to South Forty RV Resort LLC of Casa Grande, Arizona (George McGavin, Jr.) for $6.5 million ($27,897 per unit). The 55+ community with 233-spaces includes amenities such as heated...

Spirit Realty Adds Century Tucson Marketplace-14 to Portfolio for $15.55 Million

TUCSON, Arizona -- Spirit Realty Capital (NYSE: SRC) of Dallas Texas added to its investment portfolio the new  Century Tucson Marketplace-14 for $15.55 million ($290 PSF). The new  Cinemark NextGen Theatres is located at 1300 East Tucson Marketplace Blvd. The 53,678-square-foot theatre, with 14 screens and 1,294 seats, has...

Tucson Retail Development Heads West – Midvale Park Center Trades for...

TUCSON, Arizona –  An investment group from Conroe Texas traded into the inline shops at Midvale Park Community Shopping Center at 1625-1645 West Valencia in Tucson. The property commanded a sale price of $6.9 million ($235 PSF). The center is located across the street from the newly constructed 104,479-square-feet Fry’s...

New York REIT Picks Tucson for First $46M Acquisition West of...

Multifamily Portfolio Sells for $46 Million Updated: 3/1/2017 Tucson, Arizona — New York-based, Dasmen Residential (Michael I Katz, CEO) purchased a 1,166-unit portfolio in Tucson from Omninet Capital of California for $46 million ($39,451 per unit). The transaction marks the buyer’s entry into Tucson and its first acquisition west of...

Twin Peak Plaza Building in Marana Trades for $2 Million

TUCSON, Arizona -- A Twin Peaks Plaza building at 7555 West Twin Peaks Road in Marana sold for $2 million ($234 PSF). Situated at the new Twin Peaks and I-10 interchange in the Northwest submarket, the buyer traded up in a 1031 exchange. The 8,540-square-foot building is a portion of...

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...

Tractor Supply Expands with 4th Store in Tucson metro

TUCSON, Arizona -- Tucson South Development Group LLC, an affiliate of Long Development Corporation (David Long, president) has purchased 5.34-acres located south of the southeast corner of Indian Agency Rd and Valencia Rd within the Midvale Park Shopping Center in Tucson, Arizona for $1.4 million ($6 PSF) for the...

Tucson Retail Sales – Hi Falutin & Window World Sold

TUCSON, Arizona -- Oakmark Properties of Scottsdale purchased the property at 6780 N Oracle Road in Tucson from Thomas and Ines Leonard  of Tubac for $850,000 ($258 PSF).  The investor is an experienced restaurant investor that owns approximately 25 leased properties. The property is leased to the popular Hi Falutin Rapid...
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