Friday, September 21, 2018

Creative Brokerage Brings HomeGoods Tucson Distribution Center

There has been much written about the new HomeGoods Tucson distribution center lately. What hasn't been told until now,  is the creative brokerage it took by a group of real estate professionals to assemble the land for the HomeGoods Tucson deal to come together.  It really started almost two...

Time is Ripe for NW Tucson Medical Office Expansion

Taking advantage of low interest rates and costs, spurred by a rising economy and looking to the future, physicians in Northwest Tucson are finding it an ideal time for medical office expansion. Tucson Endocrine Associates (Dr. Alexander Zwart and Dr. David Alster) purchased the 4,190-square-foot medical building at 5910 N La...

Texas Forestar Buys Land Position at Dove Mountain for $6.1 Million

Austin Texas-based Forestar Group Inc. (NYSE:FOR) purchased TLC Dove Mountain’s position in 88-finished lots at Boulder Bridge Pass in Dove Mountain for $6.1 million ($69,318 per lot) not the finished lot value. Miramonte Homes of Tucson retained builder option on the lots. This is Forestar’s second acquisition since March,...

Historic Bring Funeral Home Downtown Sells for Repositioning

FPG Arizona, dba Bring Funeral Home, an affiliate of Florida-based FPG (Brad Rex, CEO), a leading provider of end-of-life transition services, sold 236 S Scott Avenue in Tucson for $1 million ($72.23 PSF) to 236 South Scott, LLC (Ron Schwabe and Marcel Dabdoub, partners). This historic downtown landmark held its...

Apartment Rental Company Expanding to Tucson Gives Felons Second Chance

TUCSON, AZ — The Associated Press is reporting a Phoenix-based apartment company, Second Chance Rentals, is expanding to Tucson thanks in part to its target clientele: convicted felons. Second Chance Rentals brought its practice of renting to felons and evictees, a population other landlords might consider high-risk, to the Tucson...

Two New Subdivisions Coming to Northwest Tucson

Two new prestigious communities in northwest Tucson add an additional 133-P& E lots to the pipeline in June. Home sales are strong as well. According to Tucson Association of Realtors (TAR), Tucson market homes sales were up 20.92% year-over-year in May. See REDaily News June 10, 2015. Realtor.com is predicting...

Tucson Retail Property Sales up by 12.36% Y-O-Y at mid-year

Although Tucson retail property sales slowed in second quarter compared to first quarter of the year, Tucson retail sales volume is up by 12.36% over 2014 at mid-year, with approximately $189 million in sales. The following retail sales previously unreported are from the first half of 2015 and total an...

Smaller Office Building Sales Lively in Tucson

TUCSON, ARIZONA -- Office sales of smaller office buildings has been active lately, with market vacancies at a seven year low in Tucson. There has been $17.3.6 million in sales volume this quarter with $400,000 the median sale price and 3,538-square-feet the median building square-footage. William and Susan Daugherty purchased...

C&W Picor Closes $10 Million Recent Tucson Multifamily Deals

TUCSON, Arizona -- The Cushman & Wakefield | PICOR multi-family team of Allan Mendelsberg and Daniel Leibsohn have closed seven multifamily transactions recently representing an aggregate total of $9.99 million. The Tucson Multifamily market remains strong and one of the more attractive investment locations due to the increase in quality...

Surf Thru Express Car Wash Buys New Site at Grant &...

Tucson, Arizona - Surf Thru, Inc. closed on its third site in the Tucson area last week. The Bakersfield, CA-based quick service carwash chain paid $700,000 ($14.90 PSF) for 46,986- square-feet of land located at 6307 E. Grant Road, Tucson, AZ. It is at the northeast corner of Grant...

Former Dollar General Building Sells for Conversion to Engineering Firm Office...

TUCSON, Arizona – Scorpion Technologies, LLC of Tucson (Carlos E Garcia, manager) purchased the 9,014-square-foot former Dollar General store at 155 W Valencia Road in Tucson on 1.26 acres. The property commanded a sale price of $630,000 ($70 PSF). Earl Hyman with Marcus & Millichap of Encino, California handled the transaction...

Two Tucson Red Roof Inns Sell in $600 Million Portfolio Sale

BW RRI IV, LLC, a partnership between a Singapore investor and Westmont Hospitality has won the bidding for a Red Roof Inn portfolio which contains 89 hotels with 10,715 rooms. Their winning bid of about $600 million ($55,996 per room) beat out runner-up Blackstone, which wanted to convert the...
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