Tuesday, January 16, 2018

ABI Brokers $2.1M Apartment Sale in Desirable Eastside Tucson Area

TUCSON, Arizona –  ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $2.1 million ($42,857 per unit) sale of the 49-Unit Eastpointe Apartments at 8477 East Broadway Blvd. in Tucson, AZ. The property is a garden style apartment community originally built in...

Richmond American Nabs Another 117 Home Sites at Mountain Vail Estates...

TUCSON, Arizona -- Richmond American Homes, a subsidiary of M.D.C. Holdings, Inc. (NYSE: MDC) purchased 41-platted and engineered lots at Mountain Vail Estates in southeast Tucson for $1.25 million ($30,482 per lot). Richmond has been open and selling homes here since March, after closing on the first 50-lots. This...

Twelve Plaza Campana Condo Units Sell at Auction for $2.34 Million

TUCSON, Arizona – Twelve office condominiums in four buildings at Plaza Campana sold in an REO auction sale for $2,336,250 ($83 PSF). The 12 condos totaling 28,068-square-feet were built in 2002 and sold in bulk at auction through Ten-X.com for US Bank, NA., the lender. The buyer, a local investment...

Mini Entertainment Mecca taking shape at Congress & Scott in Downtown...

TUCSON, Arizona – A new Vintage Arcade will be coming this fall to 63 East Congress Street, at the northwest corner of Congress and Scott Avenue, in Downtown Tucson. EQ Scott and Congress, LLC of Scottsdale (Charles Duff, manager) bought the building for $2.2 million ($81.48 PSF). The building had...

Long Realty Negotiates $3.5 Million in Four Tucson Multifamily Properties

TUCSON, Arizona -- High demand in the Tucson multifamily market saw cap rates tick up slightly this quarter by 2.57%; from a Q1 average of 8.55% to a Q2 average-to-date of 8.77% based on all multifamily property sales. There doesn’t seem to be any slowdown in sight as sales...

Academy of Math and Science Expanding Campuses at Both Tucson Locations

TUCSON, Arizona – Academy of Math and Science (AMS) recently purchased two locations for campus expansion. The property at 1611 – 1625 West Prince Road in Tucson was sold for $503,760 ($97 PSF) by Barnett Brenner and 425 West Valencia sold for $690,000 ($145 PSF) by BM Valencia. Both were...

Native at Steam Pump Village Oro Valley Sells in Off Market...

TUCSON, Arizona – The now open, the new Native Grill & Wings at Steam Pump Village, 11107 N Oracle Road in Oro Valley, sold in an investment sale for $3.34 million ($673 PSF) to local investors, Andy and Marilyn Bowden. The 4,962-square-foot Native Grill & Wings restaurant celebrated its grand...

DR Horton Acquires Final Rancho Resort II Lots in Sahuarita

TUCSON, Arizona -- D.R. Horton acquired the final 49-SFR lots at Rancho Resort II for $588,000 ($12,000 per lot) in Sahuarita, AZ. These two final takedowns were part of an option for a total of 61-lots exercised early by the builder for completion. The first takedown was in January...

Smaller Office Building Sales Lively in Tucson

TUCSON, ARIZONA -- Office sales of smaller office buildings has been active lately, with market vacancies at a seven year low in Tucson. There has been $17.3.6 million in sales volume this quarter with $400,000 the median sale price and 3,538-square-feet the median building square-footage. William and Susan Daugherty purchased...

C&W Picor Closes $10 Million Recent Tucson Multifamily Deals

TUCSON, Arizona -- The Cushman & Wakefield | PICOR multi-family team of Allan Mendelsberg and Daniel Leibsohn have closed seven multifamily transactions recently representing an aggregate total of $9.99 million. The Tucson Multifamily market remains strong and one of the more attractive investment locations due to the increase in quality...

Tucson Urban League Sells School Leased to La Puertas Community School

TUCSON Arizona – Tin Cup Properties, LLC of Tucson (John Lashley, manger) purchased a 7,808-square-foot office building located at 100-126 W. 37th St. in Tucson from Tucson Urban League for $500,000 ($64 PSF). The property was vacant at time of sale and buyer purchased to lease to StrengthBuilding Partners, dba...

Classic Delicious Seoul Korean Kitchen Buys Second Location in Tucson

TUCSON, Arizona -- Seoul Kitchen Corporation of Tucson (Yeon Suk Choi, manager) bought the former Third Base Bar at 6255 E Golf Links Road in Tucson for $300,000 (85.59 PSF) from Robert T. Kramber. Seoul Kitchen Korean BBQ’s first restaurant in Tucson opened in October 2009 at 4951 E Grant...
image_print