TUCSON, Arizona – The former FedEx Distribution building at 777 E MacArthur Circle sold for $4.305 million ($37.79 PSF). The 113,920-square-foot building (build in 1985) on 5.96 acres was purchased for investment by MacArthur Investments, LLC (Robert Assenmacher, member).

Brandon Rodgers, SIOR, CCIM with Cushman & Wakefield | Picor represented the buyer and has the leasing contract for the building.

Rodgers says there is a single tenant looking to lease the building, but if not, then the buyer is prepared to divide it into smaller spaces to lease. Zoned heavy industrial, the property has 27 docks and 6 drive-in doors. Two 480V services, one with 900 amps and the other with 1,300 amps for power.   

The seller was US Bank Association that sold the property at Auction.

The property has been vacant since 2015 when FedEx Ground left to build a new 210,440-square-foot facility to accommodate the increased daily package volume and further enhance the speed and service capabilities of the FedEx Ground network. See Real Estate Daily News for full story here FedEx Ground Building 210,440 SF Logistics Center in Tucson

For more information, Rodgers should be contacted at 520.546.2714.

To learn more, see RED Comp #6735.

TUCSON, Arizona  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Good Rain, a 34-unit complex,  9th & Bean, an 8-unit apartment, and East Adams, a duplex, all located near the University of Arizona according to Ryan Sarbinoff, regional manager of the firm’s Tucson and Phoenix office. The assets sold for aggregate of $4,410,000 ($100,227 per unit).

James K. Crawley and Hamid Panahi, investment specialists in Marcus & Millichap’s Tucson office, had the exclusive listing to market the properties on behalf of the seller, a limited liability company. The buyer, a limited liability company is based out of Los Angeles.

Good Rain is located at 801 East 10th Street, 9th & Bean is located at 529 East 9th Street, and East Adams is located at 348 East Adams Street in Tucson, Arizona.

“The sellers bought each of the assets opportunistically conducting heavy repositioning over their ownership,” said James K. Crawley. “Each community provides the buyer a myriad of student and young professional housing options in the gentrifying neighborhoods of Iron Horse and Rincon Heights, as well as the highly-concentrated student populated Feldman’s neighborhood – all surrounding the University of Arizona and Downtown Tucson.”

To learn more, see RED Comps #6765 and #6777.

TUCSON, ARIZONA – Sunbelt Holdings, the developer of La Estancia MPC, the latest master planned community in Tucson, is gaining a Micro-Hospital at its award-winning community. Tucson Micro-Hospital, LLC, an affiliate of Tenet Healthcare Corporation, bought 3.96 acres of raw land for $690,600 ($4 PSF) to construct a 25-bed micro-hospital. Ground breaking is expected to be within weeks.

The micro-hospital will be located at the Wilmot Road entrance of La Estancia and focus on providing emergency and lower acuity inpatient procedures, with an around the clock emergency center staffed by board-certified emergency physicians. Additional services include inpatient surgery, diagnostic imaging, laboratory and pharmacy.

A fairly new concept in Arizona, similar micro-hospitals built by Tenet in Phoenix and Marana have a footprint and design within a 32,500-square-foot building. See also Real Estate Daily News article Micro-Hospital Site sells in Marana at Cortaro Ranch

Tenet Healthcare Corporation is a diversified healthcare services company with 115,000 employees. Through its subsidiaries, partnerships and joint ventures, including United Surgical Partners International it recently acquired, the Company operates general acute care and specialty hospitals, ambulatory surgery centers, urgent care centers and other outpatient facilities in the United States and the United Kingdom.

La Estancia is a 565-acre community, located along the I-10 corridor between Wilmot Road and Kolb Road, and offers residents access to the nearby Julian Wash trail system. The community is within close proximity to the University of Arizona Tech Center, Amazon fulfillment Center, the David-Monthan Air Force Base, Tucson International Airport and in the highly-ranked Vail School District.

Greg Mohl, Vice President at Sunbelt, handles the Tucson portfolio and had this to say, “We found the sweet spot for La Estancia is its location.  There are currently 859 lots spoken for in the community with three builders: Meritage, Richmond and Lennar. We also have about the same number of lots on the southside of I-10 still to be developed.”

Will White and John Carroll of Land Advisors Organization in Tucson handled the land sale transaction and represents Sunbelt Holdings at La Estancia.

For more information, White and Carroll should be reached at 520.514.7454.

To learn more, see RED Comp #6771.