TUCSON, AZ (May 10, 2024) – California-based Hal Hays Construction, Inc. (HHCI) purchased the property at 5809 S Belvedere Ave. in Tucson for $1,050,000 ($169.35 PSF).

HHCI has long-standing roots in Arizona as a utility and gas construction contractor. One year prior, it opened its Tucson office at 2455 N Fairview Avenue, owned by the Pascua Yaqui Tribe, near the new casino at I-10 and Grant.

The Belvedere property was built in 2021. It is a 6,200-square-foot metal building with a fully fenced and gated yard and three grade-level doors. HHCI plans to owner-occupy it.

The transaction closed on April 26, 2024.

Tim Healy with CBRE in Tucson represented the seller, 5809 South Belvedere, LLC, an Auto House of Tempe affiliate that occupied the property as an owner-occupant prior to the sale.

Jackson Kraft with CBRE in Tucson represented the buyer in the transaction.

For more information, Healy can be reached at 520.323.5119, and Kraft is at 520.323.5124.

To learn more, subscribers should see RED Comp #11266.

Tucson, AZ (May 8, 2024) — Walton Global, a real estate investment and land asset management company, has announced the acquisition of 60.80 acres in Pima County, continuing its effort to boost land inventory to support new home development. The new property, Redford Estates, is allocated for Walton Global’s Builder Land Financing program, which provides a solution to long-term inventory needs by acquiring opportune land identified by builders and developers.

According to public records, the 60.8 acres were acquired for $4.278 million and preliminary platted for 276 lots ($15,500 per platted lot). The seller was T&K Development, LLC of Tucson, c/o Anthony Evans, manager.

Redford Estates has 276 platted lots slated for residential development. The project will be developed in two phases, with 144 lots in Phase 1 and the remaining 132 lots in Phase 2.

The land’s fortunate location will benefit future neighborhood members as it provides frontage on South Cardinal Avenue and South Westover Avenue. With ideal positioning near the crossroads of South Cardinal Avenue and West Valencia Road, residents can expect an easy 15-minute commute to the Tucson International Airport, 14 minutes to South Tucson, and easy access to major employers, including the Amazon Fulfillment Center and Davis Monthan Air Force Base. Redford Estate is less than 20 minutes away from crucial services, including Banner University Medical Center and a Veterans Hospital.

“We’re thrilled to provide a new opportunity to the community and look forward to Redford Estates joining the existing popular neighborhoods in the region,” said Paul Bae, Vice President, Portfolio Management for Walton Global. “We’ve seen a strong increase in Pima County and expect this to continue within the coming years. Our goal is to jumpstart these developments in high growth areas so that they can be well prepared for that population spike.”

Redford Estates community members will also benefit from several educational options. The property is just three minutes away from GracePointe Elementary and Preschool, four minutes from Miller Elementary School, six minutes from Frances J. Warren Elementary School, and seven minutes from William J. Pistor Middle School.

Walton Global’s acquisition of Redford Estates follows the recent acquisition of Gladden Farms, another Arizona property allocated to the company’s Builder Land Financing program. The uptick in activity represents continued success for the company’s land investment business line, initially launched in 2020. This initiative was designed to help close the nationwide housing gap and to assist homebuilders in securing land assets until they are prepared to begin the horizontal development and vertical construction of new homes. Walton Global continues to seek opportunities to increase the housing supply in identified growth areas across the country through strategic land acquisition, innovation in investment offerings, and partnerships with America’s largest homebuilders.

Plans are to landbank for the home builder.

To learn more, see RED Comp #11271.

Phoenix, AZ. (May 7, 2024) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $2,038,677 / $97,080 per unit / $126.14 Per SF sale of 4440 – 4444 East Lee Street, a 21-unit multifamily apartment community located in Tucson, Arizona. The Tucson office of ABI Multifamily, Desiree Palmer, represented the buyer and seller in this transaction.

The buyer is based in Nevada, and the seller is based in California.

Built in 1944, 1950, and 1977, 4440 – 4444 East Lee Street is a 21-unit, garden-style community in Tucson, Arizona. The unit mix features (4) one-bedroom, (16) two-bedroom, & (1) four-bedroom units. The property comprises wood frame construction and flat roofs on 1.47 acres.

4440 – 4444 East Lee Street is in East Central Tucson, close to downtown Tucson and Interstate 10. Many neighborhood conveniences and services are nearby, such as Walmart Supercenter, Target, The Home Depot, PetSmart, In-N-Out Burger, and Reid Park.

Significant employers near the property include the University of Arizona, Tucson Medical Center, Texas Instruments, and Caterpillar headquarters. ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm focusing exclusively on apartment investment transactions. With offices in Phoenix, Las Vegas, San Diego, and Tucson, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to complete any multifamily transaction, regardless of size and complexity.

For more information, Palmer can be reached at 520.265.1993.

To learn more, see RED Comp #11274.