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Kamel Properties, LLC an affiliate of Pools By Design, Inc. (Kenneth Larison, President) bought a 1,760 sq. ft. office condo at 7368 N La Cholla Blvd. in the La Cholla Corporate Center at La Cholla & Magee, for[mepr-show rules=”58038″]$265,000 (about $150 per foot). The property was bank owned by Compass Bank when it sold and will be owner occupied by buyer.

Pools By Design, a Tucson-based business, is in custom swimming pool designer and landscape construction company with 35 years experience in the industry. During Larisons’ years of experience he has worked as a designer, project manager, sales manager and general manager for three of the largest pool companies in the nation. He has been a leader in the industry with many design awards and achievements.

From the company’s website, Larison states, “My focus is on providing guidance based on my years of experience coupled with my commitment to conservation and intelligent design. So much of my success has come from a commitment to people, not only to my clients, but also my subcontractors, vendors and business professionals. Every day I ask people to perform above and beyond on my projects. I can only be successful if I provide the same willingness to serve.”

Larison started Pools by Design partly as a result of the changing market. Consumers must be selective to protect their investment. “Today our clients are looking for a higher level of service, attention to detail and a great value. At Pools by Design, that is our mission. We focus on providing excellent service while keep our overhead low. This creates happy customers, which makes for new business referrals. Lower operating costs are passed on as savings to our clients. It all works very well.”

David Montijo and Jeff Casper of CBRE in Tucson had marketed the property for $290,400 and handled the REO sale for Compass Bank. Maryanne Larison of Russ Lyon Sotheby’s represented the buyer.

Ken Larison can be contacted at (520) 797-6675. Dave Montijo is at (520) 323-5136 and Jeff Casper at (520) 323-5181. Maryanne Larison can be reached at (520) 742-1335.

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Rillito Marketplace One, LLC an affiliate of the Krausz Companies, Inc. (Ron Krausz, President) of California closed on its second acquisition in Tucson, the Rillito Crossing Marketplace at 4206-4282 N 1st Ave. for[mepr-show rules=”58038″]$16.9 million ($134 per foot) from Continental Tucson 61, LLC, an affiliate of Continental Properties, Inc. The 126,017 aggregate rentable sq. ft. on 13.31 acres is located at the northeast corner of 1st Avenue & Limberlost; 34,643 sq. ft. of this aggregate was planned future space at time of sale.

The Krausz Companies, established in 1996, is a privately held California company. This second acquisition for Krausz in Tucson comes almost exactly one month after acquiring Campbell Plaza Power Center at Campbell and Glenn in Tucson for $31.5 million. Nancy McClure and Michael Sandahl of CBRE in Tucson handled the Campbell Plaza transaction and continues to lease that property for Krausz.

The Krausz Companies also owns the Prudential Plaza Office Tower in Phoenix, located on Central Avenue Corridor in midtown Phoenix. Krausz is interested in additional retail and office investment opportunities in Arizona.

Continental Properties Company, Inc. (James H. Schloemer, Chairman & CEO), the seller and developer of Rillito Crossing, is privately held and headquartered in suburban Milwaukee, Wisconsin. Rillito Crossing was its only venture in Tucson, which began development in 2007; L.A. Fitness opened there in 2007 and Sunflower Market and additional in-line retail space and pads followed in 2009. Sunflower Market merged with Sprouts last year and changed its name to Sprouts.

Rick Borane commented, “Although Campbell Plaza and Rillito Crossing Marketplace properties differ in many ways, the investor was attracted to both centers due to the tenant mix. Rillito Crossing, with L.A. Fitness and Sprouts as anchors, is also positioned close to student housing that gives it enhanced tenant appeal with consistent day and night traffic.” The center was approximately 90% occupied at time of sale, with 10,000-11,000 sq. ft available and running lease rates of $24 per sq. ft.

Rick Borane and Dave Hammack of the Volk Company of Tucson handled the Rillito Crossing project from its inception, and represented Continental in both its acquisition and sale. Borane and Hammack continue to be retained by the Krausz Companies for the management and leasing at Rillito Crossing.

David Pyle, VP at Krausz , is at (415) 732-5600. Continental Properties can be contacted at (262) 502-5500. Dave Hammack and Rick Borane at Volk Company should be reached at (520) 326-3200.

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On Feb. 15, 2013 AutoZone Development Corporation (NYSE:AZO) paid[mepr-show rules=”58038″]$550,000 for a 34,620 sq. ft. parcel ($15.89 per foot) at 8825 E Broadway Blvd. for construction of an AutoZone store from Vladimir Katz of Tucson.

The property is located northwest of Camino Seco on Broadway, with C-1 zoning.
This will be AutoZone’s 17th store in the Tucson area. Stores typically range in size from 6,500 sq. ft to 8,000 sq. ft.

Fred Ludwig, Real Estate Development Manager, reported that AutoZone Development will be general contractor for the project.

During the quarter ended February 9, 2013, AutoZone opened 32 new stores in the U.S. and opened nine new stores in Mexico. As of February 9, 2013, the Company had 4,735 stores in 49 states, the District of Columbia and Puerto Rico in the U.S., 334 stores in Mexico, and one store in Brazil for a total store count of 5,070.

AutoZone will host a conference call this morning, Tuesday, February 26, 2013, beginning at 10:00 a.m. (EST) to discuss its second quarter results. Investors may listen to the conference call live and review supporting slides on the AutoZone corporate website, www.autozoneinc.com by clicking “Investor Relations,” “Conference Calls.” The call will also be available by dialing (210) 839-8923. A replay of the call and slides will be available on AutoZone’s website. In addition, a replay of the call will be available by dialing (203) 369-1211 through Tuesday, March 5, 2013 at 11:59 p.m. (EST).

Vladimir Katz can be reached at (520) 548-1712. Fred Ludwig of AutoZone is at (901) 495-7296.

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