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Roadrunner Lock and Safe under an affiliate, Bean & Bean, LLC (Scott Warner) purchased the 8,199 sq. ft. building at 5001 E Speedway Blvd in Tucson for[mepr-show rules=”58038″]$690,000 ($84 PSF). Located at the northeast corner of Speedway and Santa Rosa, just west of Rosemont Blvd., the building sits on a 33,600 sq. ft. lot.

The property was formerly occupied by tenant, Graphic Impact that moved to 5440 E Speedway Blvd.

Roadrunner will vacate its current office at 4444 E   Grant Road Ste 112 to owner occupy the property. Roadrunner is a locally owned business since 1986 and full service locksmith for residential, commercial and safes and vaults including – lock out service, lock repair, rekeying, dead bolt installation, decorative hardware, gun safes, safe sales, and installation. Commercial master keying, rekeying, high security locks, hardware, access control, panic hardware, camera systems, and keyless access. They also  sell, open, repair, service, change combinations, move and install all brands of safes, including Liberty Safes, Heritage Safes, American Security Products, Horizon Safe, Eclipse Safes, Adesco, and Gardall.

Wells Fargo handled financing for the buyer.

The seller, Speedway Impact Partners, LLC (Marlene and Howard Volin) were represented by Greg Furrier, Principal and Retail Specialist with Cushman & Wakefield / Picor Commercial Real Estate Services.

Warren at Roadrunner can be reached at (520) 326-5111. Furrier at Picor is at (520) 546-2735.[/mepr-show]

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Infinity Insurance, a wholly owned subsidiary of Infinity Property and Casualty Corporation (NASDAQ:IPP) purchased the 49,964 sq. ft. building at 3160 E Transcon Way in Tucson for[mepr-show rules=”58038″]$5 million ($100 PSF) for its new Tucson location. Infinity plans to house 450 employees in the 49,964 sq. ft. building on 4.25 acres at final build out.

Infinity is already operating in about 22,000 sq. ft. of the building with 30 employees at Valencia Road and Country Club Road, having moved into the space formerly occupied by EOS Systems. The company plans to initially invest $500,000 – $1 million in the operation and hire 120 workers by the end of the year. When fully built out it will employ 400-450 employees. The remaining 28,000 sq. ft. is vacant, ready for final build out.

Infinity’s grand opening is scheduled for sometime in this Fall.

Infinity is a national provider of personal automobile insurance. Its products are offered through a network of approximately 13,000 independent agencies and brokers. According to TREO’s Regional Development Director, Michael Guymon, “Infinity first approached TREO last October and was attracted to Tucson for its bilingual workforce.”

Bo Cupps, Infinity’s Real Estate Director who handled the transaction for the company, says he knew the region from being stationed at Fort Huachuca in the military and sees one of the main attractions of locating to Tucson is being away from most natural distasters.  “The transaction was very straight forward and after all the negotiating and details were worked out closed in 30-days,” according to Cupps.

Todd Poer formerly with Jones, Lang LaSalle of Atlanta represented Infinity in the transaction. Poer has since moved to D. Scott Murphy Realtors of Atlanta. Tim Healy of CBRE in Tucson represented the sellers, AEH Investors V, LLC and PMH Investors V, LLC (Brandt Hazen, manager) of Tucson.

Guymon at TREO can be reached at (520) 260-3666. Cup at Infinity can be contacted at (205) 588-3230. Healy is at (520) 323-5119. Poer can be contacted (678) 584-5900.[/mepr-show]

Login for more information for subscribers. [ismember] This was a 1031 exchange for seller. On 6/5/2013 seller bought 4881 E Grant Road for $4,265,000 as part of the exchange. [/ismember]

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The Continental Shopping Plaza at 180-260 West Continental Road in Green Valley sold to Continental Green Valley Associates, LLC an affiliate of Glen Una Management Company of Los Gatos, CA (Kenneth Levy, President) for approximately[mepr-show rules=”58038″]$18.2 million ($120 PSF) for the 151,585 sq. ft. regional shopping center.

The Plaza opened in 1980 with eleven shops and businesses, and within the next five years, increased in size to approximately 152,000 sq. ft. with forty-eight businesses. It is anchored by Safeway, CVS Pharmacy and True Value Hardware, with a diverse tenant mix, including apparel and gift shops, restaurants, financial advisors and institutions, hair salons, home improvement stores and others.

It is located at the northwest corner of Continental Road and I-19 on 14.56 acres. The Green Valley / Sahuarita market area is a diverse community of young families and established retirees. Rob Tomlinson, a retail specialist with Cushman & Wakefield / Picor Commercial Real Estate Services as well as a local Green Valley resident, commenting on the property said, “it has always been a good strong regional center with low vacancy, and should continue to remain stable and a good investment for the new buyer.”

The seller was Holualoa GV Shopping Plaza, LLC an affiliate of Holualoa Companies of Tucson (Michael Kasser, CEO). Holualoa Companies was founded in 1985 in Kona, Hawaii and expanded in 1992 to its Tucson office, which became the company headquarters. Over the years, the company’s expanding network of investment opportunities has established offices in Phoenix, Los Angeles and Paris. Holualoa currently controls assets in excess of $600 million according to its website.

The retail / investment team of Mike Sandahl and Nancy McClure of CBRE in Tucson and Bob Young of CBRE in Phoenix represented the seller in the transaction. The same team that represented Holualoa in the sale of Campbell Plaza Power Center in Tucson for $31.5 million.

According to the CBRE 1Q 2013 Retail Market Report, Grocery-anchored retail development is driving activity, especially in energy-based suburban markets like Texas, Oklahoma, Pittsburgh and Denver. The housing recovery and new housing in markets like Phoenix and Southern California hold promise for the hardest-hit markets returning to health. Multifamily development is driving retail opportunity in infill and urban redevelopment projects.

Kasser can be reached at (520) 615-1094. Levy is in San Francisco at (415) 503-4048. Sandahl should be contacted at (520) 323-5115 and McClure is at (520) 323-5117. Young can be reached in Phoenix at (602) 735-5576.

A new on-site property manager was brought on for Glen Una Arizona Mgmt. Co. after the sale: Kelly J Gardner w) 520-625-5005, cell: 510-863-1554 [/mepr-show]