The Palm Canyon Apartments at 2255 W Orange Grove Road, Tucson sold for $25.3 million ($68,750 per unit). This was the second highest sale price for the region in 2014, to see the highest sale click here.  The 368-unit complex has 23 two-story buildings (built 1986) on a 17.21 acres gated community in the Northwest submarket of Tucson.

Houston-based Domain Acquisitions, LLC in partnership with BH Equities, LLC of Des Moines (DFA/BH Arizona Capital II, LLC of Houston, Texas) purchased this property and another complex in Mesa, Midtown on Main Apartments. See www.realestatedaily-news.com/colliers-completes-44-61-million-two-apartment-deals/.

Community amenities include 24-hour emergency maintenance, barbeque grills, business center with equipment, covered parking, extra storage, gated community, heated pool, on-site maintenance, outdoor hot tub, part time security guard, picnic area, short-term leases, state-of-the-art fitness center, pet friendly and well-manicured grounds. Apartment amenities include air conditioning, carpet, ceiling fans, dishwashers, extra storage, garbage disposals, microwave, oversized closets, private patios or balconies, tile floors, washers & dryers, water, sewer, trash, and window treatments.

Michael Sandahl and Wyatt Campbell with CBRE in Tucson represented the seller, San Francisco-based Prime Residential, in the transaction. To learn more Sandahl can be reached at 520.323.5115 and Campbell is at 520.323.5173.

Canyon Heights Apartments at 550 N Pantano Road in Tucson sold for $8.4 million ($42,857 per unit). The 196-unit complex consists of one- and two-bedroom units in 16 buildings (built 1982) on 5.3 acres in the East submarket of Tucson.

The buyer was HSL RE Holdings of Tucson (Canyon Heights Apartment Properties LLC).

Community amenities include a business center, clubhouse, free covered parking, emergency maintenance, extra storage, fitness center, garage, high speed internet access, hot tub, individual leases, laundry facility, public transportation, swimming pool, wireless internet access, subsidies, on-site maintenance, on-site patrol, pet friendly and well-manicured landscaping. Apartments feature air conditioning, balcony, cable ready, ceiling fan(s), dishwasher, hardwood flooring, oversized closets, some paid utilities, views, garbage disposal, and refrigerator.

Art Wadlund of Berkadia Real Estate Advisors in Tucson negotiated the sale on behalf of the seller. To learn more Wadlund should be contacted at 520.529.9206.

Dakota Canyon Apartments at 6201 E Pima Street in Tucson sold for $3.74 million ($46,750 per unit). The value-add 80-unit complex consists of one- two- and three-bedroom apartment homes in six buildings (built 1973) on 4.17 acres in the Northeast submarket of Tucson.

The buyer was EPC Holdings 844, LLC of Bellevue, Washington.

Amenities include mirrored accent walls, new oak kitchens with dishwasher, large closets with organizers, washer/dryer connections, military and preferred employer discounts available, beautifully landscaped grounds, 24 hour emergency maintenance, swimming pool, professional on-site management, convenient location, pantry and coat closets, 24 hour laundry facility, all within walking distance to Tucson’s famous Restaurant Row.

Bob Kaplan with Marcus & Millichap in Denver, represented the seller, San Rafael, California-based Dakota Sierra, LLC. To learn more Kaplan can be reached at 520.271.2304.

Kneader’s Bakery & Café and Raising Cane’s will be bringing two new fast casual concepts restaurants to Tucson at the southeast corner of Wilmot Road and Broadway Blvd. CVS built a new store on the hard corner in 2013 and sold 2.3 acres of excess land surrounding the CVS Pharmacy.

An affiliate of the Eisenberg Company in Phoenix (Jason Eisenberg, CCIM) purchased the 2.3 acres surrounding this corner for $1.725 million ($17 PSF) from CVS to split.

Raising Cane’s is a fast-casual restaurant specialized in chicken fingers. Founded in Baton Rouge, Louisiana in 2007 by Todd Graves, today there are more than 150 locations across 15 states, and 7 in metro Phoenix. The restaurant is named after Grave’s yellow Labrador, Raising Cane.

Expected to open Summer 2015, Eisenberg is developing the 4,000-square-foot Raising Cane’s on 51,162-square-feet of land facing Broadway. The remaining 49,063-square-feet of land was sold to Kneader’s developer, FFG Development of American Fork, UT for $900,000 ($18 PSF).

Kneader’s Bakery & Café will be a 3,700-square-foot built-to-suit facing Wilmot.

Kneader’s is all about breads. The concept is a European-style bakery where things are still made by hand, from simple, healthy ingredients the way it’s been done for a thousand years.

The first Kneaders opened in 1997 in Orem, UT specialized in authentic European hearth breads made fresh daily. Kneaders also offers a variety of soups, salads, sandwiches and 40-50 different pastries. Kneader’s fast-casual concept is to provide “fresh food fast”.

Kneader’s has been expanding rapidly, with 30 locations and 7 in Phoenix. The Tucson Kneader’s is also expected to open Summer 2015

Torrey Briegel and Regan Amato of Phoenix Commercial Advisors in Phoenix represented Eisenberg in both transactions.

To learn more Briegel can be reached at 602.734.7219 while Amato is at 602.288.3474.

Pasadera Behavioral Health Network purchased the campus of Arizona’s Children Association at 2700 and 2820 S. 8th Ave. in South Tucson for $2,025,000 ($34 PSF).  The property consists of nine buildings with residential, clinical, academic and administrative facilities.  Pasadera will consolidate numerous programs at the site. See RED Comp #2372 for more information.

Tom Knox, SIOR, Office Specialist with Cushman & Wakefield | PICOR, and Bob Kaplan with Marcus & Millichap in Denver, represented the buyer in this transaction.

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Pacific Southwest District of the Wesleyan Church (Christian Faith Fellowship) purchased a 21,806-square-foot church area at 1900 N. Country Club Rd. in Tucson from Catalina Baptist Church for $1,700,000 ($78 PSF). The acquisition of the Country Club property will provide the additional space necessary for the continued growth of Christian Faith Fellowship. Catalina Baptist Church had already expanded into their new location at 480 E. Ina Rd., also brokered by Tomlinson, in 2012. See RED Comp #2356 for more information.

Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller and Jon Ash with CBRE, represented the buyer in the transaction.

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Desert Hope Lutheran Church purchased an 8,000-square-foot building at 7474 E. Speedway in Tucson from TM Building Damage Restoration, Inc. for $750,000 ($94 PSF).  The new location will accommodate the continued growth of Desert Hope Lutheran. The property is conveniently located on the eastside. The building sits on +/-4.7 acres of land, offering additional growth opportunities and excess space for recreation and fellowship. See RED Comp #2399 for more information.

Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the buyer and Terry Lavery, CCIM, and Mike Gross with Tucson Realty & Trust Co., represented the seller in this transaction.

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Iglesia De Cristo purchased a 6,000-square-feet church area at 333, 345, 359 E. Roger Rd. in Tucson from Greater Tucson Casas Adobes Post 10188 Veterans of Foreign Wars for $473,000 (79 PSF). See RED Comp #2350 for more information.

Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the buyer in the transaction and Bob Baker of Sonoran Ventures, represented the sellers.

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To learn more about these transactions, Knox should be called at 520.546.2701, Kaplan can be reached at 520.271.2304. Call Ash at 520.323.5177 and Lavery and Gross can be contacted at 520.577.7000. Baker is at 520.320.9990 and Tomlinson should be called at (520) 546-2757.

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[mepr-show rules=”58038″] Arizona’s Children Association, 2700 & 2820 S 8th Ave, Tucson closed 12/24/2014 at $2,025,000 all cash transaction, APNs: 119-02-051, 052, 129A, 053-068.

1900 N Country Club Church, closed: 12/19/2014 at $1.7 million, zero down. APNs: 122-15-312A, 320, & 324Q.

333-359 E Roger Rd, Tucson, AZ closed 12/22/2014 at $473,000, all cash. APN: 105-13-030A.

7474 E Speedway, Tucson, AZ closed 1/7/2014 at $750,000. Private financing zero down. APN: 133-23-099L

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