Groome Properties IV LLC bought a 2.47-acre parcel of land at 9633 N. Tiffany Loop Drive from KOPE Real Estate II LLC for $570,000 ($5.30 PSF). Located at Twin Peaks and Tiffany Loop, the property was purchased to construct a Park ‘n Ride for Arizona Shuttle.

Arizona Shuttle has been the premier choice for transportation services throughout the state, since 1987. The company provides safe transportation options to over 250,000 passengers every year, and is constantly growing to provide both visitors and residents with service that meets their needs and expectations.

With regular daily shuttle service from Tucson, Phoenix, Prescott, Prescott Valley, Sedona, Cottonwood, Camp Verde, Flagstaff, and the Grand Canyon, home pick up and drop off, and charter and large group services, Arizona Shuttle offers an economical choice for getting to where passengers need to go safely.

“Our customer service is available 24 hours a day, 7 days a week to answer your questions and book reservations with any of our friendly, well-trained, and knowledgeable staff, or you can book your trip using our convenient online reservation system. We also offer same day package service between Phoenix, Tucson, Flagstaff, Prescott, and Cottonwood,” according to the company’s website https://www.arizonashuttle.com/

Arizona Shuttle is currently has over 200 employees and continues to grow.

The seller was represented by Randy and Gary Emerson of GRE Properties in Tucson.

For additional information, Gary Emerson can be reached at 520.777.4949 and Randy Emerson at 520.396.4812.

To learn more, see RED Comp #3953.

Two Tucson apartment sales of properties located within blocks of each other at Oracle and Orange Grove Roads, The Park Place Apartments and Casas Adobes Apartments closed within two days of each other in unrelated transactions.

California-Based, Prime Residential sold The Park Place Apartments at 11 East Orange Grove Road in Tucson for $28.8 million ($78,836 per unit). The 365-unit community is located at Oracle and Orange Grove in the Northwest submarket of Tucson.

The one- and two-bedroom community was built in 1973. Community amenities include a business center, clubhouse, fitness center, whirlpool/spa/ sauna, laundry facilities, two swimming pools, tennis courts, community lounge, sundecks, on-site property management and lots of parking. Corporate suites are also available and pet friendly.

Units include full-size washers and dryers, dishwashers, and private patios or balconies with views of the Santa Catalina mountains.

Art Wadlund and Clint Wadlund of Berkadia Real Estate Advisors in Tucson represented the seller in the transaction. The investor was Trans Western, Inc. (James Horvath, manager).

For additional information, Art Wadlund can be reached at 520.299.7200 and Clint Wadlund is at 520.529.9206.

To learn more, see RED Comp #3954.

The other northwest apartment community, Casas Adobes Apartments at 6200 N Oracle Road in Tucson was sold by Casas Adobes Partners V, LLC, a group of California investors, (Milton Mabry, manager) for $11.75 million ($57,598 per unit). The 204-unit gated community was completed in 1978 and sold as a value-add asset with a unit mix of studios, one- and two bedroom units in five floor plans.

Amenities include full sized kitchen appliances including dishwashers and a garbage disposal. Selected two bedroom apartments have been upgraded with new cabinets, flooring, appliances, lighting, and plumbing fixtures. Apartments also feature stacked 120v Washer & Dryer hookups, with machines available to rent and three on-site laundry facilities. Community amenities include two swimming pools and a spa, fitness center and patios and balconies with Catalina mountain views.

The investor is a Colorado group, GR Partners Casas Adobes, LLC and Greens Road Partnership, LLP.

Brett Polachek and Jim Crews from the Cushman & Wakefield Phoenix office and Allan Mendelsberg of Cushman & Wakefield | Picor handled the transaction.

Mendlesberg reported receiving nine offers on the property in the four weeks it was on the market. The buyer plans to do both interior and exterior renovations to the property.

For additional information, Mendelsberg should be contacted at 520.546.2721.

To learn more, see RED Comp #3949.

California investors traded into a multitenant investment property at 19193 S Alpha Avenue in Green Valley for $1.24 million ($172 PSF). The property sold 100% leased to two tenants, Truly Nolen and Napa Auto Parts, and sold in a triple net investment sale.

The 7,200-square-foot building was constructed in 2007 on .6 acres. A corner lot, next to Coach’s American Grill, with good visibility and attractive landscaping located off I-19 and Duval Mine Road.

The sellers, Kent and Jennifer Crotts of Cortaro, Arizona and the investor were both represented Jon Hammond of KW Legacy in Chandler, Arizona.

The investors were attracted to the quality national tenants, the property itself and the location said Hammond.

Truly Nolen is the largest family-owned pest control company in the United States and the oldest, first licensed company in Arizona. With more than 80 branch offices in Arizona, California, Florida, Nevada, New Mexico, Texas and Utah, the company also has independently owned and operated franchises in more than 60 countries.

NAPA Auto Parts has over 60 distribution centers, 15,000 NAPA AutoCare Centers and more than 6,000 independently-owned and company-owned stores. NAPA carries an extensive inventory of more than 400,000 parts for automotive and industrial applications.

For additional information, Hammond can be reached at 40.283.3740.

To learn more, see RED Comp #3957 and login for additional information.

[mepr-show rules=”58038″]Sale price: $1,237,500. APN: 303-33-401C. Property sold with a reported NOI of $91,200 and a 7.37% cap rate.[/mepr-show]