Monday, February 18, 2019

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...

Former Northern Trust Bank in Tucson Sells for $1.16 Million

The former Northern Trust Bank in Tucson - Wealth Management Division, at 6444 E Tanque Verde Road sold for $1.155 million ($105 PSF). This 10,963-square-foot Class A building was built in 2002 on a 1.37 acre lot by Northern Trust with a leasehold on the land. When the leasehold...

Capistrano Apts. and College Town Student Housing Sell for $16.92 Million

TUCSON, Arizona – Capistrano Apartments at 2929 E 6th Street in Tucson sold for $8.6 million ($76,786 per unit) to Daybreak 112 Partners, LLC and CAP 112 Partners, LLC c/o Scotia Group Management of Tucson (Rob Aronoff, CEO) that will handle the management of property. The 112-units are mostly studios...

Downtown Tucson Parking Lot Sells for $3.25 Million or $79 PSF

TUCSON, ARIZONA – The downtown parking lot at 79 East Alameda and 139 Scott Street in Tucson, at the southwest corner of Scott and Alameda, commanded a sale price of $3.25 million ($79 PSF) to an Austin based developer, TAZ Parking, LLC. The sale price represents the highest price...

Berkadia Brokers $122 Million in Tucson Apartment Sales

TUCSON, ARIZONA – Berkadia’s Art and Clint Wadlund of Tucson represented Gleiberman Investments, Inc. of San Diego (Mark Gleiberman, president) in the sale of two Northwest Tucson apartment communities for $37.43 million and represented Holualoa Properties in an additional three communities totaling $64.5 million. ComCapp Elevation, LLC a Texas REIT...

Investor & Small Businesses Find New Retail Space in Tucson

Arizona Ironwood, LLC of Tucson (Robert Bradley, owner) purchased the former Desert Garden Nursery and Cafe at 11011 E Tanque Verde Road in Tucson for $287,500 ($160 PSF). The Company needed expansion room for its specialized market serving mostly out of state and European customers with exotic wood products...

Richmond and DR Horton Acquire SFR-Lots in Tucson

Richmond American (Rick Morris, Land Acquisition) purchased 50 platted and engineered lots at Mountain Vail Estates for $1.501 million ($30,000 per lot). This is the first half of approximately 94 lots being re-platted by the seller, MC 140 LLC, an affiliate of Diamond Ventures. Buyer will develop the lots for...
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