TUCSON, Arizona — Quincy Media Inc. (QMI), the owner operator of The Herald-Whig and WGEM-TV/Radio has completed purchase of KVOA-TV, the NBC affiliate serving Tucson area. The 35,021-square-foot building and transmission towers at 209 West Elm Street in Tucson sold for $2.2 million ($63 PSF).  Built in 1971, the building sits on 2.95 acres located between Oracle Road and Stone Avenue on West Elm Street.

KVOA seller was Cordillera Communications who announced in October 2018 the sale of all their television stations. This acquisition will extend QMI ownership to 15 television markets.

“We are very excited to acquire this great station,” said QMI President/CEO Ralph M. Oakley. “KVOA is very involved in the communities it serves, is family owned and very much like Quincy Media operates with a similar philosophy of community service and responsible journalism.”

KVOA is the market leading station in Tucson which is the 73rd television market and will be QMI’s largest. It is the company’s 10th NBC affiliate. The acquisition was subject to the approval of the Federal Communications Commission.

The company began as Quincy Newspapers Inc. in 1926, the result of the merger of the Quincy Herald and the Quincy Whig. It entered the broadcast business in Quincy in the 1940s and 1950s. The company changed its name Quincy Media Inc. in 2016.

The FCC in April 2019 gave its consent to Cordillera Communications’ plan to exit the broadcast television industry, some 33 years after entering it.

As such, the closing of Cordillera’s other 15 of its 16 stations will come soon to The E.W. Scripps Co.

To learn more, see RED Comp #6766.

TUCSON, Arizona – Oxford Realty Investments III of Tucson (Doug March, manager), a group of local investors, purchased the retail shops at 7366 N Oracle Road in Tucson for $2 million ($200 PSF).  The three-tenant retail center was sold by AM Oracle Building, LLC (Alan Miklosky, manager) the owner of Shoe District North and Wide Wide by Alan’s Shoes, two of the tenants in the center. The transaction included a sale leaseback with the seller.

The third tenant is GoodThreads Boutique by Goodwill, a unique boutique Goodwill store that specializes in a refined selection of high-end, high-quality clothing brands, a small selection of furniture from the Goodwill Youth Restoration program and small treasures.

The 10,000-square-foot retail building was built in 2006 at the corner of Suffolk Drive and Oracle Road, with good parking and great visibility along Oracle Road.

Doug Marsh with Oxford Realty Advisors in Tucson represented the investment group and the seller was self-represented.

“The fantastic location, near Oracle and Ina Roads connects the Foothills to the Tucson Northwest submarket,” said Marsh. “Surrounded by Oro Valley, the center is within an above average income of neighborhoods for the region.”

For more information, Marsh should be reached at 520.232.0200 x 117.

To learn more, see RED Comp #6767.

TUCSON, ARIZONA — A California buyer purchased a licensed 16-bed assisted living facility at 250 S Vozack Lane in Tucson for $600,000 ($37,500 per bed).

The sellers, Stanley and Sharyl Young, had run the successful facility for 24 years prior to selling.

Licensed for 16 residents, the property had been vacant for several weeks prior to the sale, following the closure of the previous business.  The buyer will be required to acquire a new license with the Arizona Department of Health.

Mark Biery, a Senior Housing Specialist with Berkshire Hathaway Premier Properties handled the transaction.

“Unique to this property was the fact that it had an approved development plan for an expansion of 16 additional beds. That would bring it to a total of 32 beds, which is an unusual size for a care home on the east side of Tucson,” Biery said. “The California buyer found this potential for expansion attractive.”

For additional information, Biery should be reached at (520) 235-2531.

To learn more, see RED Comp #6665.