TUCSON, Arizona — BLB Real Estate Holdings, LLC of Scottsdale (Dr Brad Roberts, member) purchased a multi-tenant office building, at 2761 N. Country Club Road in Country Club Plaza in Tucson.

The two-story, 9,080-square-foot building was built in 1984 and was purchased with three tenants to owner occupy a portion for a dental practice back office for General Dentisty 4 Kids, while continuing to lease the remainder of building.

General Denistry 4 Kids caters to babies, toddlers and kids of all ages. With children’s dental offices in Tucson, AZ and Phoenix, AZ to offer a friendly environments full of energy, fun activities and games that help children overcome anxiety. Patients can sit back and relax watching cartoons while getting their teeth checked. Parents are also welcome in the exam rooms. Metro Tucson locations include 1743 W Prince Road., 295 W Valencia Road., and 2102 N Country Club Road., and in Phoenix at 3552 W Glendale Ave and 3202 E Greenway Road.

The purchase price was $635,000 ($70 PSF).

Andrew D. Sternberg of Oxford Realty Advisors represented the seller, Country Club Plaza, LLC of Tucson (Jeffrey Dowling, member) in the transaction. Ben Craney of NAI Horizon in Tucson represented the buyer.

For more information, Sternberg can be reached at 520.232.0200 and Craney can be contacted at 520.326.4500.

To learn more, see RED Comp #4747.

Tucson, AZ – Las Plazas at Old Vail, a 17-acre retail development at the northwest corner of Houghton and Old Vail Roads in Southeast Tucson, has landed a full-service Mexican restaurant to complement the line-up of other quality food offerings.

El Arado, LLC purchased a 0.89-acre retail pad and will begin construction this quarter. Nancy McClure and Michael Laatsch with CBRE’s Tucson office negotiated the transactions on behalf of the seller, OVP Development Company, LLC. The buyer, El Arado, LLC, which owns and operates Rancho Rustico, was represented by Fred Wang. The purchase price was $610,000.

“The purchase of this prime lot at Las Plazas at Old Vail confirms there is significant pent-up demand for retail and restaurant options in this underserved area. The surrounding neighborhood residents have expressed a desire for additional retail and restaurant options and users have taken notice,” said McClure. “This is a high-density residential area is well equipped to handle additional retail amenities and these transactions are just the tip of the iceberg.”

Las Plazas at Old Vail is designed to accommodate retail, office and industrial users. The site is approximately a mile and a half from the I-10 freeway, just south of the Rita Ranch master-planned community.

TUCSON, Arizona — Meritage Homes of Arizona, Inc. purchased (71) 45’ X 120’ and (42) 50’ X 120’ platted and engineered lots at Rancho del Lago in Vail from Fidelity National Title Agency under Trust No. 10,756 and Vail Valley Joint Venture (Bill Estes III, manager) for a price of $3,177,000 ($28,115 per lot)

The sale closed on April 13, 2017. The Seller was represented by Randy Emerson of GRE Partners, LLC. Will White and John Carroll of Land Advisors Organization in Tucson represented the buyer.

White remarked, “It is a great purchase. Vail has always been a strong performing submarket. Now with more amenities and an improving market, we have seen strong sales and price appreciation in the past 12 months. Rancho Del Lago has a successful history and this is a great position for the coming years.”

“We are seeing strong demand for lots in the southeast I-10 corridor/ Vail area of Tucson from homebuilders. Vail School district and close proximity to employment are the driving factors. At the same time that the market is improving, this area might be one of the most constrained on future lot inventory. That is why you are seeing most of the entitled lot deals picked up quickly and the land prices continue to rise.”

“2017 has already seen some of the best ‘shovel ready’ lot positions acquired and there are several more deals in the works. The race is on and we expect it to be extremely active in Tucson,” White stated.

Meritage will be joining Del Webb, Pepper Viner Homes and Pulte Homes at this most remarkable golf course community at the foot of the Rincon Mountains in the southeast submarket of Tucson.

For additional information, White and Carroll can be contacted at 520.514.7454 and Emerson should be reached at 520.396.4812.

To learn more, see RED Comp 4732.