Tangerine Crossings – a Diverse Medical / Retail Center

Shoppes at Tangerine Crossings
Shoppes at Tangerine Crossings

Old Lobos T&T, an affiliate of The Ault Companies (Ron Ault, president), owns the Shoppes at Tangerine Crossings, a Fry’s Marketplace anchored center. Located three miles to the east of Dove Mountain master planned community, the center is at the northeast corner of Tangerine and Thornydale Roads in Marana. Ault recently sold a 1.7-acre site there for $1.33 million ($18.90 PSF) to AKDHC Marana Real Estate Holdings for a 13,500-square-foot built-to-suit Arizona Kidney Disease and Hypertension Center.

Ault told us, the AKDHC dialysis center will be directly east from a Northwest Allied QuickMed Urgent Care, an 8,700-square-foot center expected to open in early summer. QuickMed will occupy 6,600-square-feet, leaving 2,100-square-feet available for lease. Construction of the new AKDHC medical building is expected to start in February.

The growth and development of Urgent Care Medicine should be of no surprise to anyone. Fueled by the residential growth in the area and frustration over long waits in the emergency room (for non-emergency care), and a reduction in available primary care appointments, a new growth spurt for the Urgent Care industry began in the mid-1990s and continues today.

The Shoppes at Tangerine Crossings has attracted a rather diverse mixture of medical and retail, tenants such as Fry’s Marketplace and fuel center, McDonald’s, State Farm, Domino’s, AnyTime Fitness, Fletcher’s Tire & Auto Service and Bianchi’s Italian Restaurant.

Next month, a 1,200-square-foot chiropractic office is scheduled to open in the inline shops west of the 108,000-square-foot Fry’s store.

Ault said there is also an Asian Restaurant, DM Bistro, that will open in 3,000-square-feet this March.

Pre-leasing of the remaining pads totals another 15,000-square-feet available at the center.

Aaron LaPrise with Cushman & Wakefield Picor handles leasing there and can be reached at 520.546.2770. Brian Harpel of The Harpel Company in Tucson and Director of Development at The Pederson Group in Phoenix represented the seller in the land transaction and can be reached at 602.265.2888.

For related transaction see Dove Mountain Retail Property Sales Off the Charts This Month.

To learn more see RED Comp #3427.

New Infill Projects and an Aggregate of 470 lots Sold in Metro Tucson

lots sales 450x250The Tucson office of the Land Advisors® Organization (LAO), announced the successful closing of ±70 acres with a preliminary plat for 242 lots. Located on the north east corner of Sanders Road and Barnett Road in Marana, Arizona. Will White of Land Advisors Organization in Tucson negotiated the transaction for the buyer.

The acreage was sold by the Barnett Family Trust and purchased for $2.25 million ($9,298 per lot) by Randall Martin – Randy Bury, Founder and President. This acquisition is Bury’s 4th major acquisition in the north Marana area since 2011.

“We’ve had a long relationship working with Land Advisors and Will White,” stated Randy Bury. “I appreciate their experience and diligence in getting our deals closed.”

In another transaction, Maracay Homes took down five more lots of an option agreement in Tortolita Vista for $987,088 ($197,418 per lot). Located north of Tangerine Road on Thornydale, the one acre sites feature lush desert open space. Maracay is building a total of 54 homes in Tortolita Vista that began October 2013. Will White of Land Advisors Organization in Tucson represented Maracay in the rolling option.

For additional information regarding this transaction contact White at 520.514.7454.

To learn more, see RED Comp #3592 and #3563.

KB Home is planning a new infill project at Prudence and Escalante in the eastside of Tucson; Kinneson Overlook is named after the arroyo in the area. Property was re-platted from 51 to 46 SFR lots, 45’x 100′ by the seller, OT Huachuca, an affiliate of Oasis Tucson (Jim Campbell, president). The subdivision had a prelimary plat when it sold.

The 6.84 acre Kinneson Overlook sold for $828,000 ($18,000 per lot). Both buyer and seller were self-represented in the transaction.

To learn more, see RED Comp #3614.

Mattamy Homes bought 15 SFR lots at The Enclave at Stone Canyon V for $2.78 million ($185,000 per lot) from Enclave Construction & Sales (David Williamson, manager). Located in Stone Canyon at Rancho Vistoso, north of Tortolita Mountain Circle and east of Hohokam Village Place in Oro Valley, the property is also known as the Stone Canyon Donut Hole due to its vicinity to Stone Canyon Golf Course. Surrounded by the Stone Canyon Golf Course, the subdivision sits on approximately 28 acres of vacant land and features single-story homes on lot sizes ranging from 10,000- to 15,000-square-feet with 80 foot frontages.

Thrac Paulette with Cantera Real Estate in Tucson represented Mattamy and can be reached at 520.904.5055 for more information.

To learn more, see RED Comp #3433.

Meritage Homes is active in Stone Canyon, and recently purchased a 48-acre parcel of land there for $1.8 million ($50,000 per lot) with plans to re-plat the property from 38 lots to 36-home sites in this northwest community.

The seller was Diamond Venture (Bill Kelley, CFO). Both buyer and seller were self-represented in the transaction. Meritage Homes plans to develop 36-lots for customized home sales.

To learn more, see RED Comp #3488.

Lennar Homes purchased 53 platted lots and common areas in the Robb Hill subdivision for $1.65 million ($31,132 per lot), another infill project within the City of Tucson limits. Lots are 50′ x 115′ on approximately 12.5 acres, located to the east of Pantano on Speedway. Bob Solfisburg was with Tucson Realty & Trust when this transaction was completed and is now with JBS Real Estate. Solfisburg can be reached at 520.977.9006 for more information.

To learn more, see RED Comp #3524.

Richmond American purchased a 30.6 acre parcel located at the southeast corner of Sandy Desert Trail and Cortaro Farms Road in Marana for $1.38 million ($20,000 per lot). Minutes from Interstate 10, Willow Vista offers breathtaking views of Arizona sunsets over the Tucson Mountains and lies within the Town of Marana and the Marana Unified School District.

The seller, Heater Investments of Tucson (Joe Heater) had rezoned the property, which had previously been platted for 35 – 16,000-square-foot lots under R-16 zoning. The new plat provides 69 – 7,200-square-foot lots under R-6 zoning, yet still preserving more than 40% of the site as Natural Undisturbed Open Space (NUOS), with greater attention to maintaining the wildlife corridors throughout the property. Besides rezoning, the seller provided the topography and boundary survey and Final Plat.

To learn more, see RED Comp #3528.

In another option agreement, DR Horton purchased 9-SFR lots at Sunset Pointe at Midvale Park for $305,280 ($33,920 per lot). Horton is buying a total of 55-lots in this subdivision platted in 2007, with 3,600-square-foot minimum lot sizes. The seller is D.B.S. Midvale, LLC (Bill Estes, Jr.) of Tucson. Dan Feig and Aaron Mendenhall of Chapman Lindsey represented D.R. Horton.

Feig and Mendenhall should be reached at 520.747.4000.

To learn more see RED Comp #3494.

Creating Spaces with Creative Machines Expands in Tucson

4001 E Irvington Rd, Tucson, AZ
4001 E Irvington Rd, Tucson, AZ

Creative Machines (Joseph O’Connell, CEO) the Tucson-based, worldwide design and fabrication firm, is planning a suitable celebration when it relocates into its expansive new headquarters at 4001 E Irvington Road this spring. While details are still being finalized, it’s safe to say that the guest list will include Tom Hunt and Bob Davis of Tango Commercial Real Estate, who represented O’Connell in the $1.56 million ($21 PSF) purchase of the 75,000-square-foot building, located along Irvington Road, east of Alvernon Way.

Creative Machines intends to utilize 65,304-square-feet after completing $850,000 in improvements, currently underway. The remainder of the property, including 8,119-square-feet of office space and 1,577-square-feet of industrial/warehouse space, has been relisted with Tango.

“With the momentum initiated by Creative Machines’ purchase and improvements, this complementary site offers exciting potential for the right user,” said Hunt, who scoured the city with O’Connell looking for just the right spot.

“I enjoyed working with Tom and Bob at Tango,” said O’Connell. “They’re knowledgeable, professional and prompt. But what I really appreciated was the chance to benefit from their judgment. The more time I spend in business, the more I value that elusive quality of judgment, regardless of the field.”

O’Connell founded Creative Machines in 1995 to design and fabricate interactive exhibits for museums around the world and began making public art in 2004. He chose to headquarter in Tucson for its size, university, deep intellectual capital, healthy arts community and critical mass along with affordable commercial real estate prices. Last year, the company landed its largest commission to date, a $1.4 million sculpture called Wings over Water, which will be installed in Houston in time for Superbowl LI.

Currently operating out of 10,000-square-feet off South Country Club, O’Connell and his team of 30+ engineers, artists and fabricators will have plenty of elbow room in their new space and, more importantly, the ability to take on a lot more work.

“We like to help entrepreneurs like Joe grow their businesses, create jobs and improve the Tucson economy,” said Hunt. “Working with creative and successful entrepreneurs that bring dollars into the Tucson economy is what Tango is all about.”

The seller, SCB Properties of San Diego, CA was represented by Pat Welchert and Rob Glaser of Cushman & Wakefield Picor in Tucson.

 For additional information Welchert can be contacted at 520.546.2748 and Glaser is at 520.546.2707. Davis can be reached at 520.906.5682 and Hunt should be contacted at 520.288.1231.

To learn more about this transaction, see RED Comp #3526.