Tucson Office Condo Market is Brisk at Year End

2810 N Swan Road, Tucson, AZ
2810 N Swan Road, Tucson, AZ

Offices and office condominiums have been selling at a quick clip as we close on 2015. The following condominium sales took place in late November and December in Tucson.

Law Broski’s, LLC (Steven Centuori and Rene Alcoverde, Jr.) purchased a 3,013-square-foot office condominium in North Swan Condominiums, located at 2810 N Swan Road, Ste. 160 in Tucson from Buehler Properties, LLC of Tucson (Robert Buehler) for $527,275 ($175 PSF). The buyer purchased to owner occupy the space for the law firm Centuori & Alcoverde, PC. Janine Irvin of Mark Irvin Commercial Real Estate Services represented the buyer and Buzz Isaacson and Jeffrey Casper with CBRE in Tucson represented the seller.

For more information, Irvin can be reached at 520.620.1833, Isacccson is at 520.323.5100 and Casper should be called at 520.323.5181. To learn more, see RED COMP #3481.

4007 E Paradise Falls Drive, Tucson, AZ
4007 E Paradise Falls Drive, Tucson, AZ

Consensus Ventures, LLC of Tucson (Chris McLean) purchased a 3,191-square-foot office condominium at Rillito Crossing Corporate Center, located at 4007 E Paradise Falls Drive, Units 125 and 126 from William K Wonders, trustee of the Wonders Living Trust for $725,000 ($227 PSF). The office space was built in 2007 and vacant at time of sale. To learn more, see RED COMP #3455.

6041-6043 E Grant Rd, Tucson, AZ
6041-6043 E Grant Rd, Tucson, AZ

CGAA, LLC of Tucson (Amber Perry) purchased the 2,368-square-foot office condominium in Old Farm Executive Park, located at 6041-6043 East Grant Road in Tucson for $305,000 ($129 PSF) from Debra Budinger Meyer and Cynthia O’Rourke Sands. Built in 1996, the property sold with a tenant in 1,368-square-feet and two years remaining on the lease. Jordan Simon and Karen Ferrell of Venture West in Tucson handled the transaction.

For more information, contact Simon and Ferrell at 520.722.9292. To learn more, see RED Comp #3508.

1607 W Ina Road, Tucson, AZ
1607 W Ina Road, Tucson, AZ

Deriana Properties, LLC of Tucson (Ronald Deriana) bought the 1,514-square-foot office condominium, located in the Ina Road Professional Center at 1607 W Ina Road, from the National Bank of Arizona for $215,000 ($142 PSF). The buyer was a tenant prior to sale, dba Dr. Ronald Deriana, DDS.

For more information, see RED Comp #3509.

Page Holdings, LLC has purchased 2,112-square-foot office condominium at San Rafael Medical Center located at 6560 E. Carondelet Drive in Tucson from James and Vicky Sherman for $139,392 ($66 PSF). The transaction was conducted by CBRE’s Tucson office. The buyer was represented by Bruce Suppes. The seller was represented by Jeff Casper, David Montijo, and Damian Wilkinson.

For more information, Suppes, Casper, Montijo and Wilkinson can be reached through the CBRE office at 520.323.5100. To learn more, see RED COMP #3478.

7475 E Broadway Blvd, Tucson, AZ
7475 E Broadway Blvd, Tucson, AZ

Andrew and Brenda A Knapik of Tucson purchased a 1,700-square-foot office condominium, located in the Broadway Executive Plaza, 7475 E Broadway Blvd in Tucson from ACE CAT, LLC of Tucson (Ben Bradford) for $121,500 ($71.47 PSF). Built in 1980, the unit had been refurbished with new carpet and paint. Jon O’Shea with Vast Real Estate Solutions represented the seller in the transaction.

For more information, O’Shea can be contacted at 520.398.7104. To learn more, see RED Comp #3420.

2579 M First Ave, Tucson, AZ
2579 M First Ave, Tucson, AZ

Bouchard Properties, LLC of Tucson (Francis and Deborah Bouchard) purchased an 817-square-foot office condominium in Jacinto Business Plaza, located at 2579 N. First Ave. in Tucson, from Aaron J. Eden for $87,500 ($107 PSF).  Jeff Zellet, Commercial Specialist with Cushman & Wakefield | PICOR, represented the seller and Ellen Golden with GoldSmith Real Estate, represented the buyer in this transaction.

For more information, Zellet should be reached at 520.546.2739 and Golden is at 520.219.3100. To learn more, see RED COMP #3515.

 

 

 

 



Portofino Apartment Homes in Tucson Sold for $6 Million

1702 W 36th StMission Sierra II, LLC (J Guy Farthing, manager) the owner of Mission Sierra Apartments at 2410 S Mission Road in Tucson purchased adjacent Portofino Apartment Homes at 1702 W 36th Street in Tucson for $6 million ($30,457 per unit). The 142,012-square-foot complex in 17 buildings that sit on 7.58 acres.

The 197-unit complex consists of one- two- and three-bedroom units with four floor plans. Built in 1985, the property was last sold in 2005 for $5.8 million.

Community amenities include a pool and spa, on-site laundry facility, personal storage units and covered parking. There are also barbeque areas, a playground w/ large courtyard and a half-court basketball facility. Also available is free faxing/ copying, package acceptance, 24-hour emergency maintenance and onsite staff.

Located on 36th Street west of Mission Road, the community is conveniently located on a bus line and a short distance from 1-10 and I-19.

Art and Clint Wadlund of Berkadia Real Estate Advisors in Tucson represented the seller, Seattle-based, Portofino ICG Apartment Portfolio III, LLC (Michael Christian, manager).

For additional information, Art Wadlund can be reached at 520.299.7200 while Clint Wadlund should be contacted at 520.529.9206.

To learn more, see RED Comp #3483.



Three Tucson Jack-in-the Box Restaurants Sell for $6.2 Million

1195 S Craycroft, Tucson
1195 S Craycroft Rd, Tucson, AZ

TC Real Estate of Phoenix sold three investment properties of Jack-in-the-Box restaurants in Tucson. The total sale price of the three was $6.2 million, two of the properties were purchased by an investment group out of Los Angeles, and the third was bought by a group from Saratoga, CA.

Los Angeles-based HCLARE, LLC purchased the Jack-in-the-Box at 1202 West Saint Mary’s Road and 1195 S Craycroft Road in Tucson. Both had 10.5 years remaining on the triple net leases.

The Jack in the Box at 1195 South Craycroft Road in Tucson sold for $1.95 million ($616 PSF). An approximate 3,168-square-foot single-tenant retail building on an estimated .51 acres of land, it had 10 .5 years remaining on the absolute triple-net (NNN) lease at time of sale. The tenant, IChief, LLC is a 26-unit Jack in the Box operator covering the Southern Arizona market for Jack in the Box. tenants in the immediate area including Harbor freight Tools, Walgreens, Target, Hobby Lobby, Petco, Nissan, Ford, The Vitamin Shoppe, UPS, and Dollar Tree.

1202 West Saint Mary's Rd, Tucson, AZ
1202 West Saint Mary’s Rd, Tucson, AZ

The Jack in the Box at 1202 West Saint Mary’s Road in Tucson sold for $1.75 million ($896 PSF). An approximate 1,950-square-foot single-tenant retail building on an estimated .51 acres of land, it also had 10 .5 years remaining on the absolute triple-net (NNN) lease with IChief, LLC. Located within close proximity if the University of Arizona it is surrounded by numerous tenants including Ace Hardware, Family Dollar, Safeway, Dollar Tree, Food City, 7-Eleven, Denny’s, and O’Reilly Auto Parts.

The third Jack-in-the-Box at 550 West Valencia Road in Tucson sold to Valley Green Partners, LLC of Saratoga, CA for $2.5 million ($955 PSF). An approximate 2,576-square-foot single-tenant retail building on an estimated .61 acres of land, it had 10 .5 years remaining on the absolute triple-net (NNN) lease at time of sale with IChief, LLC. Located at the hard corner of 12th Avenue and West Valencia, it benefits from its close proximity to I-19 on an outparcel to Food City adjacent to McDonald’s and Subway, near such tenants as Target, Home Depot, Walgreens, and Harkins Theatres.

Chris Lind, Jamie Medress and Mark Ruble with Marcus & Millichap of Phoenix handled the three transactions and were marketing a portfolio of five total Jack-in-the-Box restaurants for the seller.

Still available for sale is the Jack-in-the-Box at 3326 East Grant Road in Tucson. The restaurant at 3397 S 6th Avenue, Tucson is under contract.

To learn more, Lind should be reached at 602.687.6780, Medress is at 602.687.6778 and Ruble can be contacted at 602.687.6766.

For more information see RED Comps #3495, #3496 and #3497