Tucson Rubberized Coatings, Inc. (David Mahmoodi, manager) purchased the property at 1430 West Wetmore Road in Tucson for $190,000 ($95 PSF). The former Carter Feed Store, located at the northwest corner of La Canada and Wetmore is 2,000-square-feet with an additional out building / storage and a large canopy with fenced perimeter.

Tucson Rubberized Coatings, a Tucson-based company was founded in 1999 by Saeed Mahmoodi, David’s father, and specializes in the manufacturing and wholesale of Elastomeric Roof Coatings, and Stucco and Wall Coating Supplies for the Do-It-Yourselfers, contractors and maintenance professionals.

Flat roofs work here in Arizona, as long as they’re in good shape – waterproof, with no cracks or fissures that can let our occasional torrential rains leak through, damaging ceilings and the things below.

“When choosing a roof coating, look for two things: the ratio of white pigment in the form of titanium dioxide (the same sun-blocking material in many sunscreens) and resins (the matrix that determines the flexibility of the coating) in the product,” advises David Mahmoodi, general manager of Tucson Rubberized Coatings.

Mahmoodi says good quality roof coating should have at least 1 pound of titanium dioxide per gallon and that there should be as much, or more, resin per gallon. Much of the remaining ingredients of a coating solution is thickeners and emulsifiers, which make the coating spreadable and keep the ingredients from separating.

“Not all resins are equal,” says Mahmoodi. “Some are more flexible than others. And they also have differing abilities to resist picking up the dust and dirt that yellow white roof coatings over time.” “As they yellow, or brown,” Mahmoodi says, “they lose their ability to reflect heat, raising your cooling costs.”

Better formulas also resist “chalking,” the degradation of the coating that leads to the surface turning to powder and losing its reflectivity and water resistance.

Mahmoodi says another development in some roof coatings that they offer is the use of insulating microspheres, microscopic ceramic particles that reflect light and heat, but also insulate to keep heat in the house – an advantage in the winter.

“Generally, white coatings are good at cooling, but not heating. But insulating microspheres are great for heating as well,” he says. “They help to reflect sunlight in summer but to keep heat in in the winter. Microspheres have been around, but they’ve been hard to disperse. We’ve altered our formula to suspend them so that you get an even amount.”

This will be the third location for the company in Tucson with plans to expand into the Phoenix market next year.

Tucson Rubberized Coatings other two locations are at 6351 S. Tucson Blvd. in Tucson, and 5355 E. 29th St., in Tucson

Jeff Zellet with Cushman & Wakefield | Picor handled the transaction, representing the seller, Stephen Joseph Enos of Tucson.

For additional information, Mahmoodi can be reached at 520.293.3444 and Zellet should be contacted at 520.546.2739.

To learn more, see Red Comp #3894.

RRN, Inc. of Tucson (Rich Rodgers, CEO) bought the 22^nd Street Center at 4501 – 4525 East 22^nd Street in Tucson for $650,000 ($18.25 PSF). The 35,613-square-foot strip center (built 1954 and 1956) was economically obsolete and mostly vacant when it sold, with automotive space in the rear with bays available.

The center sits on 2 acres of C-2 zoned acreage and was purchased to re-tenant and repurpose to a more business park use.

Rick Borane with Volk Company in Tucson handled the transaction. The seller was Gatzionis-Crisantes, LLC of Nogales, AZ

“Older strip and in-line centers tend to have a lot of vacancies these days,” Borane said. “These older centers are in need of repurposing as they no longer serve local needs.”

“The buyer’s idea to repurpose this center is right at the top of a growing trend across the country. We’re seeing more and more of these properties being reused in new and more vibrant ways, repurposed to other uses and in many cases, razed and rebuilt, sometimes as multifamily or business park / office use.”

The property sold with deferred maintenance with a cost of approximately $200,000 to cure, according to Borane.

Communities want more walkable space and businesses serving the local needs. The center is situated in a revitalized area, at the northwest corner of 22^nd Street and Belvedere. Businesses in the vicinity include CSA Sports, Chapman Automotive, Mini of Tucson, AutoZone, Golden Corral and Family Dollar.

Brandon Rodgers, CCIM, with Cushman & Wakefield | Picor will handle the leasing for the repurposed center.

For additional information, Rodgers can be reached at 520.546.2714 and Borane should be contacted at 520.326.3200.

To learn more, see RED Comp #3854.

The Tucson Team of Hamid Panahi, Vice President Investments and James Crawley, Investment Sales Associate, with Marcus & Millichap in Phoenix have announced three new apartment closings with an aggregate of $8.1 million and 206 total units. These sales bring the market share of total transactions in Tucson for Marcus & Millichap to 47% of total transactions, 34% of total units sold and 23% of total sales volume since January 1, 2016.

For recent transactions and Tucson Market Share Ccick here: Market Share flyer

The Marcus and Millichap team handled the recent sales of The Edison Apartments, Tuscany Apartments and Desert Cove Apartments for the sellers.

Pacific Investments of Santa Barbara, CA (Steve Rottman, manager) sold The Edison Apartments at 5651 E Edison Street, Tucson to RCS 5651 LLC of Tucson (Richard Morris, manager) for $1.975 million ($35,268 per unit). The 56-units have two different floor plans in two- and three-story buildings with (31) 1-bedroooms and (25) 2-bedroom units. Common amenities include: swimming pool, BBQ area, laundry facilities and playground area.

Located in the northeast Tucson submarket, adjacent to the major intersections of Craycroft and Grant Roads, The Edison is in close proximity to Tucson Medical Center. In addition, many offices are located within this general vicinity with some situated on the same street as The Edison. The subject property is minutes away from many schools, restaurants, and retail including Park Place Mall.

Berkeley Court LLC of Tempe, AZ (Anju Parasher, manager) sold the Tuscany Apartments at 4399 E Pima Street in Tucson to 5412 Veterans Parkway LLC of Beverly Hills, CA for $3 million ($37,500 per unit). The 80-units consist of (48) 1-bedroom and (32) 2-bedroom units. Rent includes water, sewer, trash and refuse and feature central air & cooling, dishwashers, ceiling fans, large private patios, frost-free refrigerators, carpet and ceramic tile, large kitchens, large bedrooms, separate dining areas, and private enclosed yards on selected apartments. On-site amenities include laundry, pool, ample parking and free Wi-Fi.

Located in the northeast Tucson submarket, the property was 96% occupied at time of sale.

Desert Cove LLC of Beaverton, Oregon (Scott Feichtinger, manager) sold the Desert Cove Apartments at 1201 North Alvernon Way in Tucson to Santuario LLC of Tucson (Luz Andraux, manager) for $3.12 million ($44,571 per unit). The 70 units are in two-story buildings in this gated community with private patios and balconies and all utilities included.

Located in the northeast Tucson submarket, close to the U of A, the property was 100% occupied when it sold. Amenities include a large heated pool, BBQ areas, large private storage units, ceiling fans, dishwashers, and laundry facilities on premises. Utilities include water, sewer and trash. Close to public transportation at Alvernon and Bellevue Street, north of Speedway Blvd.

For additional information, Panahi can be contacted at 602.687.6649 and Crawley is at 602.687.6700.  Steve Gebing and Cliff David also with Marcus and Millishap handle multifamily sales focused in the Phoenix market.

To learn more, see RED Comp #3853, #3867 and #3882.