TUCSON, Ariz., (May 8, 2026) – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of River Oaks, a 300-unit multifamily property at 7730 East Broadway Blvd in Tucson, for $33 million, or $110,000 per unit. 

“Post-Covid multifamily operational headwinds realized throughout the Greater Tucson market in 2024 and 2025 are beginning to subside in 2026, and data supports a recovery in 2027,” said Clint Wadlund, IPA senior managing director investments. “Buyers entering the Tucson market this year, or adding to their existing portfolios, are well-positioned to benefit from forecasted rent growth in 2027 and beyond.”

“River Oaks presented the buyer with an attractive opportunity to acquire an asset with 300-unit scale and capitalize on the next growth cycle,” said Hamid Panahi, IPA senior managing director investments. Wadlund and Panahi represented the seller and procured the buyer.

River Oaks is located in East Tucson on Broadway Boulevard, a key east-west transportation corridor that provides direct access to Interstate 10 and Downtown Tucson. Broadway Plaza is directly across the street, and the property benefits from proximity to a diverse set of employment sectors, including healthcare, defense contracting, military, business and professional services, retail, and hospitality. Raytheon, Davis-Monthan Air Force Base, Banner Health, Tucson Medical Center, and Carondelet Health Network represent a sample of major employers in the area.

Completed in 1982 on over 10 acres, River Oaks features a mix of studio, one-, and two-bedroom apartments with full-size kitchens, air conditioning, and smart home features. Select units have walk-in closets and enclosed patios or balconies. Community amenities include a stand-alone clubhouse, two swimming pools, a playground, and three laundry facilities.

For more information, Wadlund can be reached at 520.615.1100, and Panahi is at 520.719.6511.

See also, RED Comp #12477.

TUCSON, ARIZ. (May 7, 2026) — PCA Properties LLC purchased a 31,042-square-foot industrial building at 5575 S. Houghton Road in Tucson from L & M Family Ventures LLC for $4.25 million.

The property, located in the Southeast submarket, sits on 3.09 acres and sold for approximately $136.91 per square foot. The building was constructed in 1997 and is 100% air-conditioned, with heavy power, dock-high loading, and a 19-foot clear height. The site has direct access from Houghton Road and is near the improved Houghton Road interchange at Interstate 10.

Stephen D. Cohen, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller. Greg White with SRS Real Estate Partners-West, LLC represented the buyer.

The property is a single-tenant, NNN-leased industrial asset occupied by FSG Restoration Services, which recently acquired Steamy Concepts, a Tucson-based cleaning and restoration company founded in 1998. Steamy Concepts previously purchased the building in 2021 and adapted it for its operations. The building was originally constructed by Global Solar in conjunction with the University of Arizona and includes high-quality office space, production areas, and clean manufacturing space.

PICOR’s marketing materials noted that the building could potentially be doubled in size on the existing site. The property is near Rita Ranch, large retail centers, a 1,000-acre industrial park, and the TMC Rincon hospital campus, which opened nearby in 2023.

For more information, Cohen can be reached at 520.546.2750 and White is at 602.682.6000.

Source: RED Comp #12434.

Green Valley, AZ (May 5, 2026) — The Salvation Army purchased a six-tenant office/retail building at 555 N. La Cañada Drive in Green Valley from Kidwell Family LLC for $1.275 million. The acquisition gives The Salvation Army ownership of a Green Valley property where it already operates its Green Valley Service Center. The organization’s local service center is at 555 N. La Cañada Drive, Suite 101/101A, and provides community assistance, spiritual and emotional support, and related programs for Green Valley and Sahuarita residents. The building was fully leased at the time of sale. The Salvation Army plans to remain in its space while leasing the remainder of the building.

The transaction closed on April 22, 2026.

Built in 1975, the 6,264-square-foot building sits on approximately 1.12 acres in the Canoa Land Grant subdivision. The sale equates to approximately $203.54 per building square foot and $26.24 per land square foot. The property is classified as office use and is zoned CB-1, Local Business Zone, with RH, Rural Homestead Zone, also noted in the parcel information.

The buyer, The Salvation Army, is based in Rancho Palos Verde, California. Mr. James M. Knaggs, President, was listed as the buyer contact. The seller, Kidwell Family LLC of Pasco, Washington, was represented by Mr. Tom Kidwell.

Christy Walker with RE/MAX Signature was the property’s listing agent, and Kevin Helland with Avison Young (Phoenix) represented the buyer. For more information, Walker can be reached at 520.614.1001 and Helland is at 480.994.8155.

Source: RED Comp # 12440.