Monday, February 18, 2019

Tucson Apartments getting ‘High Interest and Multi-Offers’

Cushman & Wakefield | Picor Multifamily Market Snapshot Q1 is reporting positive absorption and growth in all the important statistical categories for the Tucson multifamily market. Tucson apartments vacancy rates (averaging 8.5%) and average rents ($10.56 PSF) continue to see positive gains, while Tucson continues to generate significant investor...

Circle K Closes on Five CST Corner Stores for $5.16 Million

TUCSON, ARIZONA -- The Canadian parent company of Circle K, Couche-Tard, that owns San Antonio-based Corner Stores brand of convenience stores, closed on five Tucson locations last week for $5.16 million in a bulk sale, or an average sales price of $1,092,475. If your Corner Store hasn’t rebranded yet, it...

Vail, AZ is New Hotspot for Residential Lot Sales in April

TUCSON, ARIZONA – Residential lot sales in Tucson metro area totaled $1.8 million for the month of April, with the most lots being sold in the Vail area, in the southeast submarket of Tucson. KB Home Tucson purchased 42 lots at Mountain Vail Reserve from Civano Nursery of Tucson (Alex...

C&W Picor Closes on $1.74 Million Industrial Sales

North Carolina-based Old Dominion Freight Line (David Congdon, CEO) bought 8.6 acres of land at 3375 E. Corona Road in Business Park of the Desert for $1,181,647 ($3.15 PSF) from Business Park of the Desert LLC (Stephen Cohen, manager). The price was based on a price per square-foot for the...

El Paso Investor Buys Industrial Building in Tucson for $1.085 Million

TUCSON, ARIZONA -- Anson Arbor, LLC purchased a 10,760-square-foot industrial building located at 4030 N. Highway Dr. in Tucson, from Orvieto Investments, LLC for $1,085,000 ($100 PSF) in an investment sale. The property is northeast of Prince off I-10 and leased to Team Fishel, a national provider of utility engineering,...

Fort Lowell Realty & Property Management Exercises Option on Tucson Building

TUCSON, ARIZONA -- Fort Lowell Realty & Property Management, Inc. (James Collopy, director) purchased an office building located at 2026 E. Prince Rd. in Tucson, from Prince Road Professional Plaza, LLC (Ione Jitare, member) for $432,099 ($130 PSF) Tucson-based Fort Lowell Realty & Property Management was a tenant for two-years...

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...

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...

Berkadia Negotiates Sale of Two Apartment Communities in Tucson for $16.28...

TUCSON, Arizona – A joint venture between two Swiss real estate companies, Stoneweg US LLC and Varia US Southwest LLC, bought the Zona Village Apartments at 2855 W Anklam Road in Tucson for $10.05 million ($54,918 per unit) from SFF Investments, Ltd. of Colorado. The 183-unit apartment complex was built...

Walgreens in Catalina Foothills Tucson Sells for $3.9 Million

TUCSON, ARIZONA – Walgreens at 4910 North 1st Avenue in Tucson sold to The Clover Company (Paul Craft, CEO) for $3.925 million ($253 PSF) from 4910 N 1st, LLC (Steven M Swanson II, manager). Located at 1st Avenue ad River Road, this net-leased investment is approximately 15,525-square-feet and has been...

Several Tucson Industrial Investment Properties Sell for $10.9 Million

TUCSON, Arizona -- CBRE facilitated the sale of Sierra Valencia at the northeast corner of Valencia and Hemisphere Loop in Tucson International Business Center to California investors for $6.314 million ($76 PSF). The 82,737-square-feet industrial flex building was fully occupied technically with two spaces with 9,000-square-feet soon to become...

SurgCenter of Tucson – Net-Leased Asset Sells for $1.97 Million

TUCSON, AZ – Marcus & Millichap (NYSE: MMI) announced the sale of SurgCenter of Tucson, a 6,300-square foot net-leased property located in Tucson, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1.97 million ($312 PSF) Jamie Medress, Mark Ruble and Chris Lind,...
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