Skyline Campbell Hotel Partners, a joint venture with NCSKY, Grace Financial Investment, and The Scotia Group, Ltd. of Tucson (Peter Aranoff, president) sold the Embassy Suites Tucson – Paloma Village hotel at 3110 E Skyline in Tucson for $18.9 million ($158,824 per room / $190 PSF). The 99,330-square-feet hotel, (built 2006) on 6.9 acres, offers guests breathtaking Santa Catalina Mountain views and city views of Tucson, with all the comforts of home.

The spacious suites include WiFi, premium coffee brewer, soft drinks, specialty coffee & snacks, complimentary cooked-to-order breakfast and evening reception. There’s a heated outdoor pool, whirlpool and fully equipped fitness center, BusinessLink™ Center, internet access and flexible meeting rooms, with up to 2,700-square-feet of indoor and outdoor space.

The property is located across from La Encantada Luxury Shopping Center and adjacent Fleming Restaurant. The adjoining 800 acre La Paloma Community includes Westin La Paloma with 487 rooms and 27 holes of golf.

The buyer was Lodging Dynamic Hospitality Group of Provo, UT (Joel Sybrowsky), a nationally recognized and awarding-winning acquirer, developer, and operator of Select-Service and Extended Stay Properties in the United States. Founded in 1992, Lodging Dynamics currently owns and operates 21 premium-brand slecet-service and extended stay hotels, including Marriott, Hilton, IHG, Starwood, and Hyatt.

A Hilton brand, the property will remain an Embassy Suites under new ownership.

Both buyer and seller were self-represented in the transaction.

For additional information log in and see RED Comp #3121.

[mepr-show rules=”58038″]Sale date 7/14/2015. Sale price $18,900,000 down payment: $8,831,956.52 and assumption of existing loan(s). APN: 108-11-049D, 050D & 048A[/mepr-show]

SAJE Investments, LLC (Drs. Jim and Susan Stofft, DVM) purchased a 3,220-square-foot medical building at 4910 N. Sabino Canyon Road in Tucson for $625,000 ($195 PSF) from Sabino Canyon Investments, LLC (Ronald Kline, manager).

The property was vacant at time of sale. The buyer operates Sabino Veterinary Care currently at 4960 N Sabino Canyon and plans to renovate the new property for a veterinary clinic for relocation at an estimated cost of $350,000.

Michael Hennessy and Katie Cline of Burris, Hennessy & Co. in Tucson represented the buyer and Andrew D. Sternberg of Oxford Realty Advisors in Tucson represented the seller in the transaction.

To learn more Hennessy can be reached at 520.906.0500 and Sternberg should be contacted at 520.232.0200.

See also RED Comp #3130 for additional information.

TUCSON, AZ – The former NIMBUS Brewery and Restaurant building was sold for $1.415 million ($168 PSF) for the vacant 8,439-square-foot restaurant located at 6464 E Tanque Verde Road in the heart of the restaurant district.

NIMBUS Brewery & Restaurant was a tenant and closed in 2013 after the brewery filed for Chapter 11. The landlord and seller was McMahon Properties, LLC of Tucson, owned by restauranteur, Bob McMahon, who in early 2014 also filed for Chapter 11 before the court converted it to Chapter 7 and ordered the liquidation of assets in May 2015.

This transaction was part of that bankruptcy sale and included restaurant equipment left in the building. The property is 2.19 acres of land zoned C-2 which allows for a restaurant or bar operation. It has approximately 154 parking spaces, almost double the code requirements for a restaurant.

The buyer is All Real Property, Inc. of Camp Verde, AZ (Shalom Laytin, CEO) that purchased property for investment. Jim and Ryan Egan of Prime Commercial Real Estate handled the transaction for the buyer.

Pete Villaescusa and Jesse Peron with CBRE in Tucson represented the seller.

To learn more Villaescusa can be reached at 520.323.5112 and Peron is at 520.323.5130. Jim Egan and Ryan Egan should be contacted at 520.512.1000.

For additional information login and see RED Comp #3125.

[mepr-show rules=”58038″]Sale date: 4/16/2015. Sale price: $1,415,000 with $1,379,646.50. Price included $300,000 in personal property in restaurant equipment. This was a reverse exchange for buyer.[/mepr-show]