Tucson, Arizona – The ground floor retail space of Sam Hughes Place at the Corner sold recently at auction for $2.575 million ($160 PSF) to a Las Vegas investor, B33 Sam Hughes Place, LLC (Jahan Moslehi, manager).

The sale was for the ground floor exclusively at 446 N Campbell Avenue and did not include the upper level residential condominiums.

Located at the southeast corner of 6^th Street and Campbell Avenue, near the football, baseball and basketball arenas for the University of Arizona Wildcats, the Class-A building was built in 2005 with a multi-tenant design and sold with three tenants in the retail ground floor portion that was 52.7% occupied at time of sale.

Tenants included Pistacchio Ice Cream Parlor, Grimaldi’s Pizzeria, and Spa Solai in the 16,076-square-feet of retail.

Michael Hackett and Ryan Schubert of Cushman & Wakefield of Phoenix with Tristan Tams of Ten-X represented the seller, CWCapital Asset Management of Bethesda, MD in the auction on March 29, 2017.

For additional information, Hackett can be reached at 602.224.4449, Schubert is at 602.224.4472 and Tams can be contacted at 949.855.7497.

To learn more, login and see RED Comp #4950t see similar properties available, go to RED Listing Registry.

TUCSON, Arizona — La Cholla–OG, LLC (Neil Kleinman, manager) purchased the .85 acre parcel at the southwest corner of Orange Grove and La Cholla Blvd in Northwest Tucson for $610,000 ($16.45 PSF) from Little Group (Troy Little, member).

The former Quik Mart corner is being redeveloped for a new Starbucks at 6363 N La Cholla Blvd. in Tucson.

Cushman & Wakefield | Picor handled the transaction. Greg Furrier represented the buyer and Aaron LaPrise represented the seller in the transaction.

The second Starbucks is under construction at 1765 W Valencia on the south side of Tucson.

Starbucks Corporation has also leased a 3,000-square-feet building under construction, at the southwest corner of Valencia and Indian Agency Road, adjacent to a brand new 100,000-square-foot Fry’s grocery store. This is the first new Fry’s store to open in Tucson in almost ten years.

Other tenants in the center include Nationwide Vision, Pizza Patron, and Great Clips. Greg Furrier of Cushman & Wakefield | PICOR represented the Tenant. Brenna Lacey of Volk Company represented the landlord, Steamroller Pad LLC.

For more information, Lacey can be reached at 520.326.3200, Furrier is at 520.546.2735 and LaPrise can be contacted at 520.546.2770.

To learn more login and see RED Comp #4941 and for more listings of this type go to RED Listing Registry.[mepr-show rules=”58038″]Sale date: 6/9/2017. Sale Price: $610,000. APN: 101-09-001D & 001F[/mepr-show]

MARANA Arizona — Watermark Retirement Communities (David Barnes, president) is building a 108-unit assisted living and memory car facility at 8689 N Silverbell Road in Marana. The 3.99 acres located southwest of Silverbell and Continental Reserve Loop recently sold to Watermark Marana for $1.34 million ($7.70 PSF) from Salem Marana Investments, an affiliate of Link Development of Salem, OR (Ronald Ziebart, owner).

The seller purchased the property in March 2016 for an assisted living facility from The DESCO Group.

The Town of Marana reports the retirement community plans were approved July 1 for a 96,324-square-feet facility, including 78 assisted living units and 30 memory care units.

Watermark is headquartered in Tucson providing assisted living, independent living and memory care services and currently manages 40 locations in 21 states.  Watermark Retirement Communities is the 20th largest senior living provider in the United States.

Other Watermark communities in Arizona include The Fountain at La Cholla, The Hacienda at the Canyon  under construction for delivery 2019 and The Hacienda at The River, an innovative Assisted Living, Memory Care and Rehabilitation & Skilled Nursing community, in Tucson, AZ broke ground in late 2015 and opened early in 2017.

The contractor for the Watermark Marana is Seabold Construction of Portland, OR.