Although Tucson retail property sales slowed in second quarter compared to first quarter of the year, Tucson retail sales volume is up by 12.36% over 2014 at mid-year, with approximately $189 million in sales.

The following retail sales previously unreported are from the first half of 2015 and total an aggregate of $1.9 million.

The Family Dollar store at 15881 North Oracle Road in Catalina, AZ sold for $795,000 ($98 PSF). The investor, Paul Oddo Family, is from Anaheim, CA and purchased the net lease investment with long term, absolute triple net, lease terms with Family Dollar as tenant. The 8,100-square-foot store was built in 2004 on a .84 acre lot.

The property is located adjacent to McDonald’s and Wells Fargo in Catalina, near Basha’s, Subway, Starbucks, Valro, Circle K, Arby’s, Max Autoglass and several local tenants.

Jamie Medress, Chris Lind and Mark Ruble with Marcus & Millichap in Phoenix handled the transaction for seller, Caskey Family Trust of Palm Springs, CA, and the investor.

For additional information see RED Comp #3001.

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Little Group of Tucson (Troy Little, manager), dba Quik Mart, purchased the Quik Mart property at 4475 E 5^th Street in Tucson for $239,000 ($76.60 PSF). The buyer was a tenant in the property prior to sale and it was purchased without options involved. The property was constructed in 1963 on a .23 acre lot.

The Convenience Stores industry in general is in the mature stage of its life cycle. Industry value added, which measures the industry’s contribution to GDP, is forecast to grow 1.5% over the next 10 years. In comparison, GDP is projected to increase 2.5% per year on average during the same period.

Aaron LaPrise, Retail Specialist with Cushman & Wakefield | Picor in Tucson handled the transaction for both buyer and seller, Tucson Commercial Property, LLC of Tucson (Richard St. Aubin, manager)

For additional information see RED Comp #3064.

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Nicon, LLC of Tucson (Nicholas Conforti, member) purchased a 7,444-square-foot automotive service building at 5744 E. Speedway Blvd. in Tucson from 5744 East Speedway Boulevard, LLC of Irvine, CA for $562,000 ($75.50 PSF). The property was built in 1980 on a .49 acre lot and the new owner plans to owner occupy it.

Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the seller and David Hammack with Volk Real Estate, represented the buyer in this transaction.

For additional information see RED Comp #3075.

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Ho Investments, LLC of Tucson (Ngoc Tran Ho, manager) bought the property previously leased, dba Ba-Dar Chinese Restaurant, for $300,000 ($133 PSF). The 2,259-square-foot building is at 7321 E Broadway Blvd in Tucson. Built in 1964, the property is on a 10,965-square-foot lot.

LJ Kivel Holdings, LLC of Tucson (Harvey and Ron Kivel, members) was the seller and self-represented in the transaction.

For additional information see RED Comp #3078.

SimonCRE (Joshua Simon, principal) has broken ground on its latest Pet Club store at 2585 N Abrego Drive in Sahuarita. The one acre pad sold for $675,000 ($15 PSF) to SimonCRE of Scottsdale for construction of a 10,450-square-foot Pet Club Feed and Tack Store.

The improved lot is located off Interstate 19 at the southwest corner of Abrego Drive and Duval Mine Road / Old Nogales Hwy, across the street from Madera Marketplace that includes retailers such as Walmart Supercenter, Big Lots, Big 5, Ross, AutoZone, Walgreens, Carl’s Jr., Bank of America, Wells Fargo and more. This ideal location will serve pet lovers from Green Valley, Tucson and Sahuarita.

Pet Club will be the only retailer at this corner and is scheduled for completion by year end. The property was block platted for commercial development as a portion of La Joya Verde subdivision.

The seller was Bob Baker of Sonoran Ventures Brokerage of Tucson who represented himself in the sale. SimonCRE was also self-represented.

To learn more Baker should be contacted at 520.320.9990 and Simon can be reached at 480.292.8357.

For additional information, login to reference RED Comp #2988.

Contact Karen Schutte at [email protected] or 520.877.2656; On Twitter: @REDailyNews and on Facebook: https://www.facebook.com/REDailyNews

[mepr-show rules=”58038″]Sale date: 6/5/2015. Sale price $675,000 in two transactions, documents #2015-1560671 and #2015-1560672. APN: 303-33-876 & 648. Zoning CB-1, County. Buyer paid $20,000 down and financed the balance with conventional financing.[/mepr-show]

TUCSON, AZ – In a transaction brokered by Tom Hunt and Bob Davis, formerly with Rein & Grossoehme and currently partners in Tango Commercial Real Estate Services, Trafficade Service, Inc. has purchased 3.04 acres with 22,000-square-feet of improvements located at 2802 N. Flowing Wells for $1 million ($45 PSF) from VEJP-Pro, LLC of Phoenix. The space, acquired July 1, will allow the Phoenix-based company to double its existing Tucson operation upon relocation from a nearby site.

According to Trafficade President and CEO Jeffrey D. Johnson, Trafficade is one of the largest privately owned traffic safety companies in the nation, with a staff of over 200 people, and over 130 vehicles. In business for over 25 years, the company is headquartered in Phoenix with satellite offices in Phoenix, Prescott, Chandler, Tucson and Flagstaff.

“Business in Tucson is booming,” said Johnson, referring to a heavy volume of city road repairs and paving projects underway and planned for the future.  The company specializes in traffic control and barricades, trench shoring and steel road plates, asphalt trench paving and repair paving, pavement milling and sawing, sign manufacturing and safety products. To meet growing demand for its services, Trafficade plans to add 10 Tucson jobs in the coming six months.

Class Commercial Furnishings + Interiors, LLC has leased 1,749-square-feet located at La Cholla Corporate Center, 7538 N. La Cholla Blvd. The eight-year old business, owned by Michelle Class, has designed diverse spaces ranging from Royal Buick/GMC/Cadillac to the Salt River Detention Center.

Representing the tenant for this transaction was Bob Herd for Herd Realty Company.  Representing the landlord were Tom Hunt and Bob Davis, formerly with Rein & Grossoehme and currently partners in Tango Commercial Real Estate Services.

“With recently completed transactions like these and others in the works, we’re seeing positive signs of continued economic activity in Tucson and that bodes well for better times ahead,” said Tom Hunt. “Whether we’re helping multinational companies or local business owners, Tango Commercial Real Estate is equally committed to being our clients’ partner in success,” said Hunt.

To learn more Tango Commercial Real Estate Services can be reached at (520) 288-1231.

For additional information login to reference RED Comp #3063.