TUCSON, ARIZONA — SW Sun Control Shade Systems (Ian and Billie Meuschke) purchased two warehouse buildings totaling 11,195-square-feet of industrial space.  The investment properties, located at 841 E. 47^th St. (5,750 SF) and 851 E. 47^th St. (5,445 SF) in Tucson, were purchased from Walter L. Pearson and Jill D. Pearson, Trustees of the Walter L. and Jill D. Pearson Trust, for $740,000 ($66 PSF).

Sun Control Retractable Shades was started in 1997 by husband and wife team Ian and Billie Meuschke. They had the simple goal of providing quality sun control products for a fair price and spent the next 23 years providing shading for the residents of Southern Arizona.  In 2010 Ian and Billie decided to begin offering their retractable shading products to a dealer network that spans the United States allowing them to serve homeowners, businesses and government agencies from Alaska to Hawaii.

The properties were purchases for investment. SW Sun Control Shade Systems is located at 816 E Evans Blvd. in Tucson.

Ron Zimmerman, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction.

For more information, Zimmerman can be reached at 520.546.2755.

To learn more, see RED Comps #7748 and #7749.

TUCSON, Arizona –  There is no stopping SVN Desert Commercial Advisor multifamily advisor, Danny Lee.  He has been a staple in the multifamily market for over a decade and continues to close transactions all over the valley.  He represented the buyer in the $11.3 million ($66, 100 per unit) sale of Ridgewood Gardens in Tucson, AZ.

The multifamily property is located at 3302 S. Pantano Rd.  The 171-unit complex is only ten minutes away from The University of Arizona and surrounded by a great trade area just north of the property along E Broadway and E Speedway Boulevards.  The buyer Lilly Tucson Investments, LLC was a 1031 exchange buyer that was seeking a better return of his investments in the Tucson market.  “The seller and buyer were extremely diligent during the entire transaction,” said Lee.

The 148,494-square-foot property will be working on some upgrades by installing separate water meters to individual units to reduce water usage. This will help in the efforts of boosting the operating income as well.  This sale concludes the final property sale in Arizona by seller, Ridgewood USA, LLC.  The transaction was closed less than 90 days and sold with a Cap Rate of 5.25% on current operation.

ORO VALLEY, ARIZONA – Dunn Edwards Paints purchased a 6,500-square-foot built to suit at 9610 North Oracle Road in the El Corredor shopping center in Oro Valley for $2.6 million ($400 PSF). The asset sold on May 11, 2020.

The seller, Boulder Oro Valley, LLC (Ross Rulney and Malcolm Berman, managers) is also the developer of the seven-acre El Corredor mixed-use project located at the northwest corner of Oracle Road and Linda Vista in Oro Valley.

Debbie Heslop, CCIM, of VOLK Company represents the developer, Boulder Oro Valley . The buyer was represented by Bruce Heathcote of Lee & Associates.

With the completion of Dunn Edwards building and the opening of Dutch Bros, the project is nearing completion. The last remaining multi-tenant building is under construction, with Heslop handling the pre-lease to its first tenant, Freytag Orthodontics.

Dunn-Edwards Paints is one of the nation’s largest manufacturers and distributors of architectural, industrial and high-performance paints and paint supplies. They dedicate themselves to providing professionals and consumers throughout the Southwest with a complete line of the highest-quality and best-value paints, painting supplies and equipment – as well as superior service. The company is devoted to preserving and protecting the environment, and produces its coatings in the world’s first and only LEED Gold-certified manufacturing plant. Dunn-Edwards has 2,006 designer-preferred colors in their Perfect Palette color system. If consumers need help choosing the right paint and gloss or navigating through Dunn-Edwards colors, they can enjoy a free in-store color consultation with a highly knowledgeable Professional Color Advisor.

For more information on leasing opportunities, contact Heslop at 520.495.2235.

To learn more, see RED Comp #7787.