Highest Price Per SF 2020 Retail Pad Sells at Oracle & Limberlost for a Panda Express

TUCSON, ARIZONA – CFT NV Developments, LLC of Las Vegas, NV (Mickey Wong, Manager) recently purchased a 23,708-square-foot pad at Tucson Fiesta Center, 4241 N Oracle Road in Tucson for $1.68 million ($71 PSF) from EVT Tucson Fiesta, LLC (Jason Eisenberg, Manager).

Located at the northwest corner of Limberlost and Oracle Roads, the site will be used for construction of a 2,300-square-foot Panda Express Restaurant. At $70.86 per square-foot, this is the highest price per square foot sale on a retail pad in 2020 and includes a reciprocal parking agreement with the Center.

The property sold with permits ready to pull with the City of Tucson,  so completion is anticipated for later this year or early 2021.

Ryan Amato with the Eisenberg Company of Phoenix represented the seller and Jesse Peron with CBRE in Tucson represented the buyer.

Other tenants in Tucson Fiesta Center include PGA Golf Superstore, Burlington Coat Factory, and recently constructed Raisin Cane Chicken on an adjoining pad to the Panda express site. Raising Cane is being marketed as an investment sale by the Eisenberg Company. The available 26,233-square-foot anchor space, formerly Border’s Book Store, may have an announcement of a new tenant coming soon.

For more information, Amato should be reached at 602.468.6100 and Peron can be contacted at 520.323.5130.

To learn more, see RED Comp #7862.




Meritage Homes Continues to Build More Homes in Entrada Del Rio in Rancho Sahuarita

SAHUARITA, ARIZONA – The first phases of Entrada Del Rio subdivision in the Master Planned Community of Rancho Sahuarita has all its lots either sold or under contract. Meritage Homes has committed to 112 SFR lots and recently took down 41 lots.

Meritage Homes closed on 21 additional new home lots in Entrada Del Rio in Rancho Sahuarita for $1.115 million ($53,095 per lot) in June and 20 more lots in July for $1,020,225 ($51,011 per lot), continuing to offer homebuyers stunning new home options in the master planned community’s newest neighborhood. The lots are located just north of the homes currently being built by Lennar.

Another 20 lots are scheduled for acquisition on August 18th and 20 more lots by year end.

Since opening for presales in December 2019, the builder has had strong sales in the community, with the first homeowners moving in in June. Meritage Homes will sell the additional homes from their existing model and Sales Center located at 903 W. Calle Tolima.

Meritage Homes currently offers five different floorplans, ranging from 1,912- to 2,920-square-feet. The floorplans include four- and five-bedroom homes in both single- and two-story layouts. The open concept floorplans feature expansive kitchens, with covered porches, first floor dens and more. Meritage Homes feature ENERGY STAR certified appliances, advanced thermostats, Fresh Air Management Systems and other energy-efficient appliances and technologies for families to enjoy.

“With four homebuilders at Entrada Del Rio: Richmond, Lennar, KB Homes and Meritage, July was a phenomenal month for home sales,” said Diana Dessy, Director of Land Assets for Rancho Sahuarita Management Company. “There were 41 homes sold in Entrada Del Rio between June and July. With final lots sold or contracted for here we will be moving south to plat several hundred more lots in regions 6 and 7 to fill our builders’ pipeline.”

Entrada Del Rio will comprise over 500 new homes in Rancho Sahuarita when complete, with ease of access in and out of the community, close proximity to local schools, and the Parque Del Rio neighborhood amenities and the Rancho Sahuarita Marketplace nearby.

The commercial component, Rancho Sahuarita Marketplace is also going strong. Arby’s recently purchased here for their second restaurant in Sahuarita, and Northwest Hospital, under construction, is scheduled to open this Fall.

More information about the line of Meritage Homes available in Entrada Del Rio can be found online

For more information, Dessy can be reached at 520.275.7235.

To learn more, see RED Comp #7854 and #7982.

 




True Mechanical Buys Industrial Property for HVAC Business in Tucson

TUCSON, ARIZONA – An affiliate of True Mechanical Heating and Air Conditioning bought the industrial property at 632 West Flores Street in Tucson for $385,000 ($54 PSF). The 7,078-square-foot building was built in 1960 on .32 acres.

True Mechanical will owner occupy the property. Established in 2015, this family owned and operated company does repairs and replacements for residential and commercial air conditioning, as well as building and home inspections for both existing and new construction. True Mechanical does full refrigeration, chiller boiler support and preventative maintenance on all major systems including American Standard, Carrier, Rheem and Trane.

Paul Hooker with Cushman & Wakefiedl | Picor represented the seller, Fabian Aparisi of Tallahasee, Florida. Mark Hays with Tierra Antigua represented the buyer in the transaction..

For more information, Hooker can be reached at 520.748.7100 and Hays should be contacted at 520.444.5401.

To learn more, see RED Comp #7867.