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Aljaar Investment Corporation (Armando Pazionek, managing member) purchased in two separate transactions a 5,572-square-foot multi-tenant class-B retail building on .65 acres and 39,280 square-feet of excess land at 8553 & 8557 N Silverbell Road in Marana for[mepr-show rules=”58038″]$1.2 million. Property was built in 2007, and is located in Continental Ranch North, north of Cortaro Road and south of Coachline, on Silverbell.

The retail building was 70% occupied when it sold, with La Olla Mexican Restaurant and Indigo Day Spa as tenants. La Olla is a Sonoran style restaurant with an original twist that also caters and Indigo Day Spa, a full service salon and one of the first in Tucson to offer Brazilian Blowout, Shellac and Minx nails.

The remaining 1,680-square-feet was vacated on Sept 1 and is available for lease. It is a high-visibility, end-cap unit facing Silverbell, currently built-out as an insurance office, with lobby, high ceilings, granite counter tops, private bathroom and break area.
John Hamner, CCIM, and Gary Best, CCIM, of KW Commercial in Tucson have been retained as leasing agents for the property. Hamner represented the buyer, in both sale transactions.

Clave Lilien of Long Realty in Tucson represented the seller, A1 Investments, LLC of Tucson (Clint and Marsha Gardner) on the building at 8553 N Silverbell Road. The seller of the excess land, Silverbell Development Partners, LLC of Tucson (Steven Mar, managing member) was represented by Debbie Heslop, CCIM, of the Volk Company in Tucson.

The investor is looking for more retail properties of this type in the Tucson area.

For more information, contact Hamner and Best at (520) 615-8400. Lilien can be reached at (520) 825-7227 and Heslop should be called at (520) 326-3200.[/mepr-show]

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[ismember]8553 N Silverbell – Sale Date: 9/11/2013. Sale price: $933,000 ($167.44 PSF) for the 5,572 SF building on 28,311 SF lot, APN: 221-21-003G. Property is zoned NC, Marana. Escrow time: 60-70 days. Asking rent on 1,680 SF is $14/SF/NNN, triple nets are estimated at $5 / SF

Land at 8557 N Silverbell – Sale Date: 9/20/2013. Sale price: $245,000 ($6.24 PSF) for the 39,280 SF of excess land, APN: 221-21-003F. The lot had no improvements and was purchased as a speculative hold for investment. Escrow time: 45 days. [/ismember]

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The property at 2445 N Silverbell Road in Tucson sold to Dahlstrom Silverbell, LLC of Tucson (Terry Dahlstrom, manager) for[mepr-show rules=”58038″] $518,000 ($130 PSF) for the 3,986-square-foot building with six bays. Build in 1995, it had been occupied by Fletcher Tire & Auto for automotive use since build and was purchased to re-tenant to Big O.

Fletcher had given notice of intent to vacate at lease termination and Big O was looking for a new space in the area. Big O Tires has eight other locations in the Tucson region.

The seller, Ten Place, LLC of Tucson (Susan Deconcini, managing member) and the buyer, a licensed real estate broker with Volk Company, were both self-represented in the transaction.

The Big O Tires story begins back in 1962, just as America’s new love affair with the automobile was hitting high gear. The market for replacement tires was exploding, and independent tire dealers found themselves struggling to compete in the face of low prices offered by major tire manufacturers’ own company stores. Big O’s founding fathers were a handful of progressive independent tire dealers who decided to band together to form a tire-buying cooperative so that they could secure volume pricing and keep their customers happy. Their concept worked. In the years that followed, The Big O Tires co-op evolved into a full-fledged franchise as it continued to find innovative ways to harness the power of the collective to benefit independent dealerships and their customers.

Almost a half-decade later, Big O Tires has become North America’s largest retail tire franchisor, with over 400 independently-owned and operated locations in 20 states, providing customers with a broad range of automotive services in addition to quality tires, wheels and accessories. Big O has become an industry role model admired for its innovative approach to franchising and unmatched customer loyalty ratings.

In 1996, Big O Tires joined forces with one of the largest and most respected tire marketers in the nation when it became part of the TBC Retail Group, an automotive retail network comprised of some 1,200 Big O Tires, Tire Kingdom, Merchant’s and NTB locations spanning 40 U.S. states. Big O’s reach was broadened again in 2005, when TBC Corporation was acquired by Sumitomo Corporation of America, the largest wholly-owned subsidiary of Tokyo-based Sumitomo, one of the world’s leading traders of goods and services.

As Big O Tires continues to thrive and adapt to an ever-changing marketplace, it remains rooted in its humble beginnings as a proud collective of independent dealers committed to putting its customers first.

Dahlstrom can be reached at (520) 326-3200.

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[mepr-show rules=”58038″]Sale date: 9/19/2013, $80,000 down balance financed in seller carry back. Escrow time: 45 days.[/mepr-show]

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With the housing rebound comes more builders wanting to build, and finished lots are getting pretty scarce and pushing up lot prices up. Aaron Mendenhall, Land Specialist at Chapman Lindsey in Tucson, tracks the SFR lot inventory. Mendenhall told us, “The finished lot inventory in the Tangerine Corridor (Oro Valley / Dove Mountain areas) is completely tied up by builders. There is still some finished lot inventory available in the northwest Marana area, around Gladden Farms, has approximately 300-lots left.”

As reported last month, Richmond American Homes of Arizona (James Gaulin, Director of Land Acquisition) acquired 36-SFR lots at Gladden Farms in Block 17 for[mepr-show rules=”58038″]$1.3 million ($36,500 per lot) in Marana, at “The Arbors at Gladden Farms”.

This month, Richmond American acquired an additional 57 finished lots at San Lucas Block 4 in Marana for $1.94 million ($34,000 per lot). Willow Bridge of Tucson (Greg Anderson) was the seller of the R-8 zoned lots with 8,000-square-foot minimum size, or 70-foot wide lots.

The Northwest master-planned community of San Lucas has a beautiful mountain backdrop near San Lucas Park, with dog park, sport courts, playgrounds and trails. Richmond has been at “The Palisades at San Lucas” with six floor plans and 3-car garage models since it opened.

With 15-20 lots remaining at The Palisades at San Lucas, Gaulin did not anticipate a start to building in the new subdivision, that doesn’t have a name yet, until November.

Dan Feig and Aaron Mendenhall with Chapman Lindsey of Tucson handled both of these transactions.

There are two blocks remaining (7&8) in San Lucas with a total of 154-platted lots that are currently under negotiation with a builder. DR Horton owns 60 platted lots in Block 12, with no near future plans to improve these lots.

According to Mendenhall, “Many builders are currently pursuing unentitled land in the Tangerine Corridor. The entitlement/platting process can take 1-2 years however, so we won’t see many of these lots finished until 2015. There are several platted lot deals currently under negotiation in the Northwest submarket. Other submarkets are also seeing an increased interest in platted lot communities as there is an extreme shortage of finished lots throughout Tucson.”

Richmond American is a wholly owned subsidiary of M.D.C. Holdings, Inc., (NYSE:MDC) a Delaware Corporation based in Colorado since 1972. Richmond American ranked 11 in the top 100 homebuilders for 2012, with 3,740 closing for the year.

For more information on Richmond American Communities, contact (520) 544-2700. Feig and Mendenhall should be contacted at (520) 747-4000.[/mepr-show]

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[ismember]Sale date: 9/4/2013. All cash transaction.  [/ismember]