The medical office building occupied by Northwest Allied Physcians Group at 7370 North La Cholla Blvd in Northwest Tucson sold for $840,000 ($238.50 PSF) to Ftita, LLC of Tucson (Jay Jester, managing member). The 3,522 square-foot building (built 2007) was fully occupied by a group of physicians, located in the La Cholla Corporate Center, near Northwest Medical Center.

Rob Glaser, SIOR, CCIM, with Cushman & Wakefield | Picor of Tucson represented the investor, while Jordan Simon with Venture West of Tucson represented the seller, Shakaz, LLC of Tucson (Patricia Carter, principal).

In a separate transaction, OVFP Building, LLC of Tucson (Dr Robin Rash, MD) is constructing a new 5,015 square-foot medical office building for a family practice location at 1862-1866 Innovation Park Drive in Oro Valley.  The 9,134 square foot pad in Innovation Park was purchased for $441,320 as a built-to-suite by the seller, a Venture West affiliate, Innovation Corporate Center, LLC should have final cost at $1.2 million and be move-in ready by November 2014.

Jordan Simon of Venture West represented the seller while David Montijo, First Vice-President of CRE in Tucson represented the buyer in the transaction.

To reach Glaser directly call (520) 546-2707. Montijo can be contacted at (520) 323.5136 and Simon is at (520) 722.9292 for more information.

Chapman Lindsey assisted three Tucson builders close on an aggregate of 119-finished lots in three subdivisions for a total of $5.1 million before the year ended.

Richmond American Homes of Arizona closed out the balance of 86 lots at Sycamore Point, buying 47 finished lots for $1.69 million ($36,000 per lot). The subdivision at I-10 and Kolb was sold by West Kolb, LLC (Richard Price, Managing Member). Sycamore Point opened in 2013 and builder is offering two-story floor plans with up to 2,150 finished-square-feet located within the Vail School District. Homes start in the upper $100s.

Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson handled the transaction.

KB Home Tucson closed on 69 finished lots at Gladden Farms Block 9 for $3.04 million ($44,000 per lot). The subdivision known as Somerset at Gladden Farms was sold in two transactions by investment groups managed by Eric Freedberg. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson handled the transaction.

D.R. Horton, Inc. purchased three finished lots at Pusch Ridge in Oro Valley for $360,000 ($120,000 per lot) for a new high-end product the builder is planning there. The seller was Electronic Communities. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented the buyer in this transaction.

For more information, Feig and Mendenhall should be reached at (520) 747.4000, extensions #103 and #102 respectively.

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[mepr-show rules=”58038″] The Richmond American sale was 12/27/2013. All cash for $1,692,000 for 47 finished lots. APN: 141-09-787 thru 802 and 141-09-817 thru 847.

KB Home sale was 12/13/2013. All cash in two transactions with a total of $3,036,000. Sellers were different, Barry & Bella Freedman sold 41 lots for $1,804,000 and OS Realty sold 28 lots for $1,232,000. APNs: 217-56-244 thru 312.

The DR Horton sale was 12/20/2013. All cash. APN: 220-11-189, 191 & 195.  [/mepr-show]

Huron Farm Management, LLP of Avondale, AZ (Rob Rosztoczy, vice-president) purchased 6.3 acres, or 274,428-square-feet, for $576.100 ($2.10 PSF) at Tiffany Loop and Interstate-10, with highway frontage at Continental Ranch in Marana. The buyer intends to build an 8,100-square-foot John Deere dealership on the site, dba Arizona Machinery. This will be the 25th location for the company that is anticipated to open this Summer 2014.

Arizona Machinery is a family-owned business, founded in 1947 by Fred Elder and Jim Deaderick, and had its start as the John Deere and Caterpillar dealer for most of the state of Arizona. In 1959, after being diagnosed with cancer, Deaderick began selling off the business. Elder retained the John Deere franchise for agricultural equipment and John Deere’s new emerging line of construction equipment in Maricopa County. Elder’s company, which kept the Arizona Machinery name, continued the growth it had begun in the 1940’s, and built a reputation for unbeatable parts and service to match the quality of its John Deere products.

In 1975, shortly after Fred Elder passed away, his son-in-law Ferenc Rosztoczy took over management of the company. A Hungarian immigrant who is a physical chemist by education, Rosztoczy came into the business with no working knowledge of the farm implement business. His firm hand and intelligent direction guided the company for over 30 years through both the booms and the busts of the local agricultural industry.

Rosztoczy recognized the need to diversify the company’s interests so the company could continue to grow as the area’s cotton farms gradually gave way to residential subdivisions. In 1979, the company picked up John Deere’s “consumer products” line of equipment, which included machines from residential lawn mowers to compact tractors and commercial mowers to maintain large areas of turf. In 1986, John Deere rewarded Arizona Machinery’s quality performance with one of the nation’s first golf and turf distributorships. Throughout his tenure, Arizona Machinery Co. operated out of three stores located in Avondale, Buckeye and Chandler.

In the late 1990’s, the transition began to the next generation. Tom Rosztoczy, Ferenc’s oldest son, has been the president and general manager for Arizona Machinery since 1998. Ferenc’s two other sons also work for the family business. Rob serves as vice president and corporate sales manager, and Teddy is the Golf Sales Manager for our operations in the southwestern U.S.

Seeing that opportunities for further growth within the company’s Arizona territory would be limited, Tom has overseen the company’s acquisition of additional John Deere dealerships outside of Arizona. The company’s first venture outside of Arizona occurred in 1997 with the acquisition of EZ Equipment, a small John Deere dealership located in the San Diego area. In 2002, Arizona Machinery acquired ownership of AA Equipment, a larger dealership operating out of eastern Los Angeles County. In recent years, the two southern California stores established two additional stores, one in Indio specializing in golf & turf, and the other in El Cajon, a location which sells John Deere products and a full line of trailer parts. Subsequently, AA Equipment added a location in Las Vegas, Nevada. Together, these five stores were consolidated into the AA Equipment organization, which sells primarily the lawn & garden, commercial and golf & turf lines of John Deere.

Greg Wexler of Wexler & Associates represented the seller, Continental Ranch Development of Tucson and Walter Unger, CCIM, of West USA Realty in Scottsdale represented the buyer.

Arizona Machinery can be reached at (623) 936.7131. Wexler should be contacted at (520) 744.8500 ext. 101 and Unger is at (602) 942.1410.