Houghton Corridor Self Storage (dba National Self Storage) located at 7555 S. Houghton Road in Tucson sold for $2.67 million ($4,619 per unit).

The property, built in 2006, consists of 65,300-net-rentable-square-feet of storage space divided into 578 individual units, 185 of which are climate controlled and an additional 62 air-conditioned. The property was about 70% occupied at closing. The seller, Houghton Corridor Self Storage (Barry Kitay and Lynn Taylor, partners) is an affiliate of Whirlygig Properties, a commercial development company in Tucson and the buyer was an individual investor from Scottsdale.

Bill Alter and Denise Nunez of Rein & Grossoehme represented both parties in the transaction which represents the Alter / Nunez Team’s 134th successful closing of this property type.

To learn more contact Alter at 602-315-0771 or Bill@RGcre.com. You may also visit www.AZSelfStorageBroker.com.

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In another transaction, Titan Self Storage (dba National Self Storage) located at 1640 W. Duval Commerce Point Place in Green Valley sold for $1.875 million ($6,107 per unit).

The property, built in 2006, consists of 43,000-net-rentable-square-feet of storage space divided into 307 individual storage units including 67 climate controlled units and 27 RV parking spaces. The property has security cameras throughout the facility with 15 camera stations. The property was about 70% occupied at closing.

The seller, Titan Self Storage, LLC (Robert Schoff, manager) is also a licensed real estate broker and represented the seller in the transaction. The buyer is an individual from Sherwood, Oregon.

To learn more Schoff can be reached at 520-577-9777.

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[mepr-show rules=”58038″]Sale date for Houghton Corridor Self Storage: 9/10/2014. All cash deal.

Sale date for Green Valley Self Storage: 8/28/2014. All cash deal.[/mepr-show]

Wells Fargo bought the leased fee pad it occupies at 7191 E Golf Links Road at Desert Square Shopping Center for $800,000 ($56.49 PSF). The bank branch was built in 2007 when the sale price of the land was negotiated for the 14,160-square-foot lot. Wells Fargo exercised an option for the leased fee interest in the land and owed the improvements already.

Wells Fargo is an American multinational banking and financial services holding company headquartered in San Francisco, CA. It is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit cards. In 2011, Wells Fargo was the 23rd largest company in the United States.

In 2007 it was the only bank in the United States to be rated AAA by Standard & Poore though its rating has since been lowered to AA in light of the financial crisis of 2007-2012. The firm’s primary U.S. operating subsidiary is national bank Wells Fargo Bank, N.A., which designates its main office as Sioux Falls, South Dakota.

Wells Fargo in its present form is a result of a merger between San Francisco-based Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998 and the subsequent 2008 acquisition of Charlotte-based Wachovia. Following the mergers, the company transferred its headquarters to Wells Fargo’s headquarters in San Francisco and merged its operating subsidiary with Wells Fargo’s operating subsidiary in Sioux Falls.

Wells Fargo is one of the “Big Four Banks” of the United States, along with JPMorgan Chase, Bank of America and Citigroup—its main competitors. The company operates across 35 countries and has over 70 million customers globally. In 2012, it had more than 9,000 retail branches and over 12,000 automated teller machines in 39 states and the District of Columbia. As of July 12, 2013, Wells Fargo became the world’s biggest bank by market capitalization, worth $236 billion, beating ICBC.

Wells Fargo has 38 retail branches in Tucson.

In February 2014 Wells Fargo was named the world’s most valuable bank brand for the 2nd year running in The Banker and Brand Finance study of the top 500 banking brands.

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Sale date: 8/28/2014. APN 135-10-150R (por) See Comp #2108 for more information.

NOVA Financial & Insurance Services (NOVA), through an affiliate, 1630 E River, LLC (Jacob Kagele, manager) purchased the 8,339-square-foot office condominium it occupied at 1630 East River Road, at Mesquite Corporate Centre, in Tucson for $1.25 million ($150 PSF). The class-A office space, located at Campbell Ave and River was purchased by Nova after being a tenant for several years and the property became available for sale, listed by Roger Breckenridge of Long Realty in Tucson.

NOVA is a full service financial services company that believes a solid investment strategy must be developed individually for each client by focusing on their core goals and interests.

NOVA Financial & Insurance Services uses National Financial Services, LLC, a Fidelity Investments company as custodian. They are one of the largest providers of brokerage services nationally. National Financial Services LLC serviced over 18.5 million accounts representing $1.7 trillion in assets in 2008. NOVA Financial and Insurance Services’ partnership with National Financial Services ensures that our clients will receive the personalized investment attention they deserve coupled with the security of a stable, nationally recognized investment corporation.

Breckenridge represented the seller, A&B Ventures of Tucson in the transaction and Mark Irvin of Mark Irvin Commercial Real Estate represented the buyer.

To learn more Breckenridge should be reached at 520.918.5813. Irvin can be contacted at 520.620.1833

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In an unrelated transaction, the Food Conspiracy Cooperative decided to purchase the Hoff Building at 425 E 7^th Street and adjacent lots at 413 & 415 N 3^rd Avenue in Tucson for $650,000 ($100 PSF) instead of continuing to lease the property.

Since signing the lease on the 6,497-square-foot property at 425 E. 7^th Street a couple of years ago, the Coop had made many improvements to it, installing a new state-of-the-art kitchen, expanding the administrative offices, and set up a “Community Room” for classes, movies, lectures, and events. “Obtaining the property has been a tremendous boost to the Co-op,” according to a written statement, “enabling it to continue with the renovations by remodeling the store and giving it the facelift it deserves to meet the challenges and opportunities afforded by the growth of Downtown.”

In addition to the building, the Coop has built the Conspiracy Gardens on the lots purchased, the Co-op’s urban micro farm that provides fresh, local produce for sale and for use in the kitchen. With the help of a grant from the City it was able to set up a water harvesting program. Owning the Hoff Building will also make it easier to undertake other renovations and projects in the future, without having to negotiate with the owner for permission. Owning the property will help to meet future needs of the Coop.

Quentin Bryson of Quentin Bryson Realty in Tucson handled the transaction for seller, Hoff-7^th, LLC (Ann Lovell, manager) and the buyer.

To learn more Bryson can be reached at 520.780.0808.