Glenn Terrace Apartment, the gated 28-unit, single story approved condominium in clusters of four sold for $1.8 million ($64,286 per unit) to Vista Real Estate Investments LLC of Arcadia, CA. The property is at 5301 – 5319 East Glenn Street in Tucson located at Glenn and Beverly.

Built in 1972, the property consists of fourteen 900 square-foot 2-bedrooms and fourteen 1,200-square-foot 3-bedroom units. Amenities include a pool, separate laundry facilities, a Ramada and covered parking. Individually fenced yards and common areas between clusters. Total square-footage of buildings is 27,020-square-feet on 1.97 acres.

Wells Fargo was the lender for the transaction.

Tony Reed of Long Realty Company in Tucson represented the seller, The Lake Investment Group LLC of Oro Valley (Larry Cochran, manager) and Bob Kaplan of Cushman & Wakefield | Picor represented the investor in this transaction.

Reed can be reached at (520) 577-7400 and Kaplan should be contacted at (520) 546-2737.

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[mepr-show rules=”58038″]Sale date: 4/30/2014. Down Payment: $450,000, with Wells Fargo financing the balance. Property sold with a GSI of $264,600 and a vacancy loss of $19,845, with property 7.5% vacant at time of sale. Other income included $3,000 from laundry. Total expenses were $100,056. Property sold with an NOI of $147,699 or an 8.21% cap rate. APN: 110-09-413 thru 443, units 1 thru 28 and common elements A, B and C and limited common elements 1 thru 28 at Glenn Terrace Condominiums bk 63 pg 99.[/mepr-show]

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Legacy Traditional School – Northwest purchased the building it is in from developer and lender, The Charter School Fund- Oro Valley LLC, an affiliate of The Charter School Fund in Boise, ID (Jason Kotter and Ryan Van Alfen, founders) for[mepr-show rules=”58038″]$15.5 million ($244 PSF). The 63, 761-square-foot school in four buildings, is located at 3500 West Cortaro Farms Road in Marana. The school was built in 2011 and 2012 on 19 acres northeast of Thornydale on Cortaro Farms.

The property was build-to-suit for Legacy Traditional (K-8 grades) by Charter School Fund, a specialized school developer that goes beyond just picking out a pretty building and some charter school land.

Aaron Hale, Executive Director of Legacy Traditional School says, “We have been very satisfied with our relationship with The Charter School Fund over the last few years. They have built a number of buildings for us, each with a high quality of workmanship. Jason and Ryan are great to work with and completely honest. We know that if we ever have an issue, we can go to them and they will do their best to resolve it. They have built us some of the nicest charter school facilities in the state, at a time when others were having a hard time even locating financing. It is our pleasure to continue working with them as we expand our schools.”

Charter School Fund consults in areas such as charter school funding, charter school design and charter school construction financing by giving good charter schools the tools that make them exceptional. The Charter School Fund mission is to optimize the potential of the success-driven charter schools by providing in-depth consulting in areas essential to the growth of their facilities and overall charter school development.

Legacy Traditional Schools was founded in 2007, offering families a quality choice in education with eight state-of-the-art campuses throughout central and southern Arizona. Growing at an exceptional rate, Legacy Traditional is now educating more than 8,000 students with a well-rounded education that includes reading, writing, mathematics, science, social studies, history, music, art and physical education. Additionally, extracurricular activities include athletics, clubs, and daily tutoring.

Class sizes are capped with all classes in each grade progressing at exactly the same rate in all subjects. The Legacy Traditional community focuses on character building, patriotism, and the responsibilities of being a good citizen.

If your family is looking for Arizona’s best choice in education, call today to schedule a tour. Start the enrollment process soon as space is extremely limited with many campuses having waiting lists for both 2013-14 and 2014-15 school years.

Legacy Traditional School can be reached at (888) 587-1776 and the Charter School Fund is at (888) 682-8162.

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Core Campus Tucson II, LLC an affiliate of Chicago-based Core Campus, purchased the 8,045-square-foot office building at 1001 N Alvernon Way in Tucson for $1.45 million ($180 PSF). The property was multi-tenant (built 2003) and was purchased to accommodate a single tenant, DIRECT Center for Independence (DIRECT).

DIRECT is a consumer-directed, community-based advocacy organization that promotes independent living, and offers a variety of programs for people with disabilities, encouraging them to achieve their full potential and participation in the community.

DIRECT was the first agency of its kind in Arizona serving as a non-residential, independent living center operated by and for persons with disabilities. In 1980, DIRECT began operations under the name Metro Independent Living Center (MILC) through the efforts of dedicated volunteers. A year later, MILC joined with Catholic Community Services of Southern Arizona, Inc. to obtain its first government funding to support agency programs. At this time, the name was changed to Disability Resource Center of Tucson (DIRECT). It soon became apparent that the word “resource” confused consumers in relation to the services that the agency provided, so the name was changed to DIRECT Independent Living Center. In November 1994, DIRECT became a separate, incorporated entity from Catholic Community Services of Southern Arizona, Inc., and had to again change the agency name to what it is currently DIRECT Center for Independence, Inc.

Core developed The Hub, an upscale 13-story student high-rise community, at 1011 N Tyndall, near the U of A with its ground-floor retail. Debbie Heslop, CCIM, with the Volk Company in Tucson represents Core in the retail leasing at The Hub and also represented the company in the purchase of the building at 1001 N Alvernon Way.

Heslop told us the 7,000 square-feet of retail at The Hub has either been leased or has leases out on it waiting completion. Tenants include a Sushi restaurant to go in and other eateries for the students’ convenience.

Buzz Isaacson of CBRE in Tucson represented the seller, Prestige One, LLC (Robert Lara and Thomas Sayler-Brown, members) of Tucson.

Isaacson can be reached at (520) 323-5151 and Heslop is at (520) 326-3200 for more information.

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[mepr-show rules=”58038″]Sale date: 4/25/2014. All cash deal. APN: 125-1-055A. Market Time: Property was not on the market at time of sale. Second leg of this transaction is purchasing the property at 1023 N Tyndall Ave that is occupied by the tenant. This second transaction is in escrow but had not closed yet with City of Tucson as seller.[/mepr-show]