Thursday, January 18, 2018

Three Tucson Mobile Home Parks Sell for $4.63 Million in Bulk...

TUCSON, Arizona -- Allen Yadgari and Mike Yamin of Beverly Hills, Calif. purchased three mobile home parks in Tucson with a combined total of $4,628,000 ($23,979 per space) for the 193 total spaces. The parks included Desert Haven mobile home park at 3332 N Romero Road with 54 spaces, Sun...

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...

Larsen Baker Bringing New Retail to Broadway & Kolb

Larsen Baker of Tucson (George Larsen and Don Baker, partners) through an affiliate, Circle Plaza Sports LLC, purchased the property at 7280 E Broadway Blvd in Tucson for $500,000 ($27.81 PSF) for land value from James and Judith Murray of Tucson. The 17,980-square-foot lot currently has two buildings occupied...

Safeway Closes $2.6 Million Site at Mercado del Lago in Vail

TUCSON, Arizona -- After years being on hold, Safeway has closed on a 7-acre site at Mercado del Lago. Safeway has been eyeing this site for many years, waiting for the grocery store market to stabilize, and is now ready to begin construction. Located in southeast Tucson, at the...

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,...

Marcus & Millichap Completes $3.2 Million in Tucson Multifamily Deals

TUCSON, Arizona -- A California investor, Mibara Inc., bought the value-add property Kelso Vista Apartments at 450 W Kelso Street in Tucson for $1.7 million ($42,500 per unit). The 40-units in 24,030-square-feet were all one-bedrooms, with pool, spa and laundry facilities and built in 1983. Property was 50% occupied at...

Central Tucson Office Building sells for Dental Back Office

TUCSON, Arizona -- BLB Real Estate Holdings, LLC of Scottsdale (Dr Brad Roberts, member) purchased a multi-tenant office building, at 2761 N. Country Club Road in Country Club Plaza in Tucson. The two-story, 9,080-square-foot building was built in 1984 and was purchased with three tenants to owner occupy a portion...

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...

Tucson Industrial Sales Up 13.8% Year-over-Year

The Tucson industrial sector has stayed steady over the first half of the year, with just under $25.4 million in sale transactions to-date, the median sales price was $400,000 and average year built, 1981. Of these sales $10.3 million (40.41%) were in 17 transactions in the Southern submarket near...

Downtown Marana a step closer to Reality for Town of Marana

The visionary concept for creating a new Downtown Marana and Marana Main Street, took a step closer to reality for the Town of Marana recently when Marana purchased 42.93 acres of land for $1.6 million ($0.86 PSF) from Reyher Partnership of San Diego, CA. The property is located on...

Native at Steam Pump Village Oro Valley Sells in Off Market...

TUCSON, Arizona – The now open, the new Native Grill & Wings at Steam Pump Village, 11107 N Oracle Road in Oro Valley, sold in an investment sale for $3.34 million ($673 PSF) to local investors, Andy and Marilyn Bowden. The 4,962-square-foot Native Grill & Wings restaurant celebrated its grand...

Meritage Homes Buys Land for 113 new homes at Rancho Del...

TUCSON, Arizona -- Meritage Homes of Arizona, Inc. purchased (71) 45’ X 120’ and (42) 50’ X 120’ platted and engineered lots at Rancho del Lago in Vail from Fidelity National Title Agency under Trust No. 10,756 and Vail Valley Joint Venture (Bill Estes III, manager) for a price...
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