TUCSON, ARIZONA (June 19, 2025) – A fully leased medical office building at 2155 W. Orange Grove Road in Tucson has sold for $3,109,500 ($299 PSF). The 10,405-square-foot facility, located in the La Naranja Medical Center complex, was acquired by The Kenneth M. Phrang & Cynthia L. Phrang Trust from OGFP Building, LLC. The transaction closed on June 10, 2025.

Richard M. Kleiner, MBA, Principal, and Alexis Corona, Office Specialists with Cushman & Wakefield | PICOR, represented the seller. Ryan Gonzales with Marcus & Millichap Real Estate Investment Services represented the buyer.

The property is home to Orange Grove Family Practice, a well-established primary care clinic offering family and internal medicine services. Staffed by nine licensed providers, the practice serves a diverse patient base and operates Monday through Friday, offering full-service clinical care supported by a 24/7 patient portal.

Strategically located in northwest Tucson, the building benefits from strong visibility along Orange Grove Road, convenient access to major thoroughfares, and proximity to dense residential neighborhoods and healthcare providers. The site offers ample parking, is wheelchair accessible, and is well-positioned for long-term medical office demand.

For more information, contact Richard M. Kleiner at (520) 546‑2745, Alexis Corona at (520) 546‑2729, and Ryan Gonzales in San Diego at (858) 373‑3127.

Reference: RED Comp #11964

TUCSON, Arizona (June 18, 2025) — Circle K Stores Inc. has acquired a 1.6-acre parcel located at 10290 E Tanque Verde Road, at the southwest corner of Tanque Verde and Houghton Roads in East Tucson. The property sold for $1,250,000 on June 2, 2025.

The site, positioned along one of Tucson’s most traveled eastside corridors, offers high visibility and strong accessibility factors that continue to drive commercial development interest in the area.

Jesse Peron and Peter Villaescusa, LLC, with CBRE in Tucson, represented the buyer, Circle K Stores Inc. The seller, SCO Properties, LLC, was self-represented in the transaction.

The acquisition underscores Circle K’s ongoing strategy of securing high-traffic, growth-oriented locations throughout Southern Arizona. The property will be used for a new Circle K Convenience Store and fueling canopy, featuring six fuel pumps, totaling a 5,200-square-foot C-store and a 3,936-square-foot fuel canopy area.

The purchase highlights ongoing demand for well-located land parcels in Tucson’s eastside submarket, particularly at key arterial intersections with established traffic patterns and residential growth.

To learn more, Peron can be reached at 520.323.5130, and Villaescusa is at 520.323.5112.

Reference: RED Comp #11939

TUCSON, AZ (June 17, 2025) — Olympus Property, a Texas-based multifamily investment and property management firm, has acquired The Place at Arroyo Verde, a newly constructed 156-unit apartment community located at 8150 N. La Cholla Blvd in the Casas Adobes submarket of Tucson, Arizona. The asset was purchased for $37.5 million, translating to $240,385 per unit and $251 PSF. The sale marks Olympus Property’s strategic entry into the Tucson market as part of its broader expansion across high-growth areas in Arizona. The transaction closed on May 29, 2025.

The seller was MC Companies, and the transaction was brokered by Institutional Property Advisors (IPA), a division of Marcus & Millichap. Steve Gebing, Hamid Panahi, Clint Wadlund and Cliff David of IPA represented the seller and procured the buyer. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets arranged acquisition financing for the buyer.

Completed in 2024, the garden-style community features a mix of one-story casitas and two-story walk-up floor plans, with units averaging 956 square feet in size. Interiors offer open-concept layouts, stainless steel appliance packages, interior storage, single French doors, and walk-in showers with custom tile surrounds. Community amenities include a resort-style swimming pool, an oversized sundeck, a fitness center, a clubhouse, grilling stations, covered parking, and gated access.

The Place at Arroyo Verde stands out in the Tucson market for its modern design and prime location. At approximately 30 years newer than the average multifamily property within a three-mile radius, it is a rare addition in the affluent and supply-constrained Casas Adobes submarket, where only 1,870 units have been delivered in the past 25 years. Barriers to entry, including high land costs and lengthy permitting processes, have limited new development in the area.

Situated near Interstate 10, the community provides residents with convenient access to more than 271,000 jobs across key employment hubs, including the University of Arizona, Banner Health, Raytheon, Texas Instruments, Amazon, GEICO, and Caterpillar. Nearby retail and entertainment options include Desert Springs Shopping Center and Tucson Premium Outlets.

For more information, contact Hamid Panahi at (520) 719-6511 or Clint Wadlund at (520) 719-6525.

Reference: RED Comp #11927