Casa De Colinas and Mission Tierra Apartments sold with 425 aggregate units for a combined total of $19.6 million ($46,059 per aggregate unit) in two separate transactions.

Casa De Colinas sold for $12.75 million ($62,195 per unit) in an all-cash deal. Located in the Western Foothills, the property has 205-units consisting of 28 – one-bedrooms each 646-square-feet, 70 – two-bedrooms each 925-square-feet, and 107 – four bedroom / two baths with 1,378-square feet, double level town homes.

The property opened in January 1997 and is 125,476-rentable-square-feet in fourteen buildings on an 8.72 acre parcel located at 2162 West Speedway Blvd. in Tucson.

The seller was Partnership for Quality Affordable Housing #5 of Phoenix and the buyer, Aspen Square Management out of West Springfield, Massachusetts. Both the buyer and seller were represented by Hamid Panahi, Cliff David and Steve Gebing of Marcus & Millichap in Phoenix.

Mission Tierra sold for $6.8 million ($31,023 per unit) all-cash. Located close to I-19, downtown and the Tucson airport, the property has 220-units consisting of 96 – one-bedrooms in two floor plans: 574-square-feet and 587-square feet, 96 – two bedrooms with two floor plans: 844-square-feet and 860-square-feet, and 28 – double level town homes with four bedrooms each 1,312-square-feet.

The property opened in Fall 993 and is 174,256-rentable-square-feet in sixteen buildings on 8.42 acres at 5505 S Mission Rd. in Tucson.

The seller, Partnership for Quality Affordable Housing #3 of Phoenix, and the buyer is a Utah-based company, MS Solutions, LLC. Both the buyer and seller were represented by Hamid Panahi, Cliff David and Steve Gebing of Marcus & Millichap in Phoenix.

Aspen Square Management can be reached at (413) 781-0712. The Marcus & Millichap National Multi Housing Group of Panahi, David and Gebing should be contacted at (602) 687-6700 for more information.

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[mepr-show rules=”58038″]Sale price for Casa De Colinas was $12,750,00 in an all cash deal. The closing date was reported as 5/14/2014. Property was 90% occupied and sold at a 6.04% cap.

Sale price for Mission Tierra was $6,825,000 in an all-cash deal. The closing date was reported as 5/12/2014. Property was 95% occupied and sold at a 6.61% cap. [/mepr-show]

TUCSON, ARIZ. — Brio Unlimited, Inc. of Tucson (Irene Fernandez and Roseann Holstad) sold their Brio Hair Salon located at 2425 E. Broadway Blvd. in Tucson, AZ sold for $218,500 ($182. PSF).

The 1,199-square foot building, built in 1988, on a 10,890-square-foot lot on two tax codes. The property is a stand-alone building with Broadway and Norton Street access.

James P. Robertson Jr., CCIM, Senior Commercial Associate Broker with Realty Executives Tucson Elite, represented the seller. CCIMs have earned an internationally recognized professional designation that signifies their expertise in commercial investment real estate.

“There hasn’t been a resale of a stand-alone salon business in Tucson in over 5 years. This sale will set a new comparable price point in our market,” according to Robertson. “The buyer intends to remodel and open as a full service salon.”

The buyer, The Taki Revocable Trust of Tucson, was represented by Ana Sanchez-Navarro with Tierra Antigua Realty of Tucson.

Robertson should be reached at (520)284-9572. Sanchez-Navarro can be contacted at (520) 544-2335.

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[mepr-show rules=”58038″]Sale price: $218,500; call cash deal. Closing date: 4/30/2014. Plenty of parking. AC & Gas heat. Dual restrooms, open floor plan. Tastefully decorated. Flexible floor plan. With the future widening of Broadway this location will soon have full Broadway Blvd. exposure. Broadway Blvd access is secured by easement of southern parcels. Possible drive through opportunity for redevelopment. APNs: #125-08-098B and 097A.[/mepr-show]

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The sale of Vistoso Automotive, a 6,131-square-foot automotive building built in 1998 was recently recorded. The location of the property is 12945 N. Oracle Road in Oro Valley, Arizona. The property sold to Madstart LLC, an Arizona limited liability company. The seller was Vistoso Automotive, LLC.  The sales price was[mepr-show rules=”58038″]$1,200,000.00 which equates to $195 per square foot. The building was vacant at closing.

Jake Ertle of Rein & Grossoehme represented both the seller and the buyer. Ertle specializes in the sale of owner-user retail buildings.

Founded in 1993 and celebrating our 20^th anniversary, Rein & Grossoehme specializes in the sale of investment properties and retail, office and industrial leasing.

Ertle can be reached at (480) 214.9414 for more information.

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[mepr-show rules=”58038″]Sale date: 5/2/2014. Downpayment: 72,138. APN: 223-02-017H[/mepr-show]