Tuesday, January 16, 2018

ABI Multifamily Brokers Apartment Sale in Hotspot Central Tucson

TUCSON, Arizona – ABI Multifamily, a brokerage and advisory services firm that focuses exclusively on apartment investment transactions, announced the $1.5 million sale ($46,875 per unit / $53.38 PSF) of the 32-Unit Villa Delano Apartments at 123 W Delano Street in Tucson. The property, originally built in 1980, sits on...

Romano Completes Sale of Colonia Verde Retail Shops for $2.93 Million

TUCSON, Arizona -- Phoenix investors, The Bynum Family Trust, traded into the purchase of Colonia Verde at 7245 E Tanque Verde Road in the Eastern submarket of Tucson.  The 9,216-square-foot retail center sold fully occupied with five tenants. The property commanded a sale price of $2.925 million ($317 PSF). Built...

Chapman Lindsey: Q1 Residential Lot Sales Report

By: Aaron Mendenhall and Dan Feig, Chapman Lindsey Commercial Real Estate Services New home sales are up in 2016. Per SAHBA, monthly net sales from their 12 member builders so far in 2016 has each been higher than any month in 2015 with the exception of January’s 173 net sales...

Taylor Morrison / Pulte JV Pays $100M for 410 Acres State...

SCOTTSDALE, AZ -- Taylor Morrison Home Corporation (NYSE: TMHC) and Pulte Homes (NYSE: PHM) have announced a joint venture to acquire approximately 410 acres of land in North Phoenix from the Arizona State Land Department and develop it into a new master plan community. Development of the site is slated...

COT Amendment Approval for Possible Fry’s Marketplace at Houghton & 22nd...

The Mayor and Tucson City Council voted this week 6:1, with Councilman Steve Kozachik the sole dissenting vote, to approve an amendment to the Houghton East Neighborhood Plan that could allow for the development of a 124,000-square-foot Fry’s Marketplace at Houghton & 22nd on a 16-acre site at the...

TAR February Report: Volume Rises as Tucson Home Prices Drop

Tucson Association of Realtors (TAR) has released stats for February 2016. Average Sales Price decreased 4.80% this month to $206,128 from $216,510, while home sales pushed up 4.08%, according to the Tucson Association of REALTORS® Multiple Listing Service. The Average Selling Price decrease of $10,382 compared to January, is $3,275...

HSL adds Radisson Suites Tucson to Portfolio for $7 Million

Tucson-based, HSL Hotel Opportunity Fund III (Omar Mireles, manager) bought the Radisson Suites Tucson at 6555 E Speedway Blvd in Tucson for $7 million ($23,411 per room) from the lender AIG Life Insurance Co and American International General Life Assurance of Los Angeles, CA and The United States Life...

Rancho Los Amigos MHP sold at $4.8 million for Redevelopment

Historic Rancho Los Amigos, a mobile-home park that began as a citrus grove, at 600 West Orange Grove Road in Tucson was bought by Alta Vista Communities (Roger Karber, manager) recently for $4.8 million ($282,353 per acre). The property sold for land value and is located just west of the...

Allstate Self Storage in Phoenix Sells for $6.7 Million

Allstate Self Storage located at 4110 E. Bell Road in Phoenix, AZ was sold for $6.7 million, or $88 PSF and $8,535 per storage unit, to U-Haul International. The property was constructed in 1999 and consists of about 68,250-square-feet and 785 storage units plus a 7,600 square foot, 2-tenant retail...

Two NNN Investment Sales totaling $5.09 Million

Two NNN investment sales totaling $5.09 million took place recently in Northwest and Northeast Tucson submarkets: Carmack Center, LLC of Escondido, CA (Michael Nicholson, manager) purchased the BRAKEmax / Merles Auto Supply joint building at 6550 & 6560 N. Thornydale Road in Tucson from Encino Investments, LLC (Albert Davidoo, manager)...
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