California-based, Mason Hiller Co. (Greg Mason, principal), a private real estate firm specializing in mobile home park investing, has acquired the Continental West Manufactured Home Community at 3740 N Romero Road, Tucson and Diamond Grove Manufactured Home Community at 5151 N Kain Avenue in Tucson for a combined total of $16.3 million portfolio, or 472-pads.

Both properties are located in Central Tucson. Continental West (built 1964) is a 319-pad, all-age community situated on 39.51 acres that sold for $11 million ($34,483 per lot). Diamond Grove (built 1973) is a 153-pad, all-age community situated on 17.19 acres that sold for $5.3 million ($34,640 per lot). Amenities include recreational facilities, laundry facilities, clubhouse, pool and spa. The combined occupancy of both properties was 80% at time of sale.

This is the buyer’s first investment in Tucson, Mason said, “We like the whole Tucson story, with occupancy running in the 90’s, we saw growth potential. We also like the University and the Air Force Base story for the region and prefer to invest in locations in the Sunbelt with its appeal to snow birds and second homes.” The company owns other manufactured home community assets in Western states and another in Arizona in Camp Verde, AZ, near Sedona.

The properties will be managed by Mason Hiller Co. Asset Management.

The seller of the portfolio, Continental Community, (Daniel Van Voorhis, manager), is from Oak Brook, Illinois.

Broker Jeff Mueller, formerly with CBRE, and now with Mueller & Hoffman in Denver, Colorado handled the transaction for buyer and seller.

For additional information, Mason Hiller Co. should be reached at info@masonhillerco.com

To learn more see RED Comp #3382 and #3383.

Amerco Real Estate Co. of Phoenix bought the former Cactus Bowl at 1630 S. Alvernon Way in Tucson for $1.58 million ($32.44 PSF) from Cactus Bowl, Inc. of Tucson.

The 48,644-square-feet consisting of former Pima College space and former Cactus Bowling space, has sit vacant after the bowling league moved to Santa Cruz lanes several years ago. Since then, the building offices have been occupied, and other space used by a church, while waiting for the right buyer to discover the property.

Amerco is that perfect buyer that looks for properties to redevelop and will convert the building into a U-Haul Self-Storage and vehicle rental facility on the 3.77 acre lot.

Amerco looks for big boxes and warehouse properties on major commercial arterial roads, with access preferably near or on a corner of two major arteries with convenient access from both directions of traffic. Must have a minimum traffic count of 30,000 cars per day minimum at the curb, in or adjacent to new retail developments and at the edge of new growth areas. The former Cactus Bowl met with the buyers criteria at Alvernon and 27^th Street that carries approximately 37,000 cars per day.

Pete Villaescusa, Jesse Peron and Michael Laatsch of the CBRE Tucson office and Jami Savage-Gray with CBRE in Phoenix brokered the sale.

To learn more, Villaescusa, Peron and Laatsch can be reached at 520.323.5100 and Savage-Gray can be contacted at 602.735.1918.

For additional information, see RED Comp #3358.

Hotel Tucson City Center Suites at 475 N Granada Avenue in Tucson sold to Texas-based investor, Lee and J Hospitality for $9.65 million ($35,873 per room), a full service suite hotel located on the Southwest corner of Granada Avenue and St. Mary’ s Road adjacent to cross-country I-10 and St. Mary’ s Road in prestigious El Presidio Downtown Tucson City Center Convention area.

The 269-room hotel. with 160,456-square-feet under roof, is situated on 10 acres with 1.38 acres of excess land includes an Olympic size swimming pool, 15,000-square-foot Convention Center, ballroom, meeting rooms, restaurant/lounge, Olympic-sized swimming pool all within walking distance of the newly renovated Tucson Convention Center.

The extra land that comes with this property has development opportunities in growing Downtown Tucson.

The Hotel Tucson City Center Suites Resort and Conference center was originally 300 keys, and recently refurbished as 269 rooms. There are 33 Two-Room Suites and the balance Studio-Suites. 34 of the Studios and Two Room Suites have full kitchens. The balance have kitchenettes including microwave, refrigerator and coffee maker providing extra luxury for corporate, leisure and government hotel guests for extended stay.

The seller was Tucson Saint Mary’s Suite Hospitality, LLC of Phoenix, AZ.

To learn more see also RED Comp #3338.