TUCSON, Ariz. – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Dos Hombres Mobile Home Park, a 46,174-square-foot manufactured homes community located in Tucson, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $357,500 ($29,792 per space)

Michael Escobedo, an investment specialist in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a private investor.

“The sellers were a partnership looking to retire,” said Escobedo. “The sellers felt our exclusive listing process combined with current market conditions provided and excellent opportunity to sell.”

“The buyer has a management team and office present in Tucson which makes this park a perfect fit for his team,” Escobedo shared. The buyer, a large mobile home operator from Phoenix with park ownership nearby, was procured by Escobedo.

Built in 1967, Dos Hombres Mobile Home Park consists of 12 mobile home sites and one RV site. The park was 92% occupied at the time of the sale and with opportunities for future rent growth. Dos Hombres is located at 4564 N La Cholla Boulevard in Tucson, Arizona, a high-demand market.

TUCSON, ARIZONA — Pep Boys Supercenter at 4491 E Speedway sold in a net lease investment sale for $3.75 million ($164 PSF).  A San Diego investor purchased the 22,815-square-foot store  built in 1982 on 2.37 acres with grade level roll up doors for ten service bays and showroom/retail store.

Pep Boys as an essential retailer remained open during the pandemic.

Philadelphia-based Pep Boys has operations in 47 US states and Puerto Rico. Major markets for the company include California, Florida, Pennsylvania and Texas, home to nearly half of its stores. Pep Boys also has warehouses in California, Georgia, Texas Indiana, New York and Pennsylvania.

An automotive paradise or do-it-yourselfers, Pep Boys stock about 25,000 car parts and accessories, including tires and combined, operate more than 7,500 service bays for vehicle repairs, inspections and parts installations. It also offers credit and parts delivery to commercial customers, such as repair shops, fleet operators, schools and municipalities. Founded in 191 by Philadelphians Manny, Moe and Jack, Pep Boys was acquired by billionaire investor Carl Icahn’s Icahn Enterprises in February 2016.

Simon Assaf with Matthews Real Estate Investment Services of Phoenix handled the transaction.

For more information, Assaf should be contacted at 949.873.0275.

To learn more, see RED Comp #8795.

SAHUARITA, ARIZONA – Rancho Sahuarita Master Planned Community has begun selling lots at the new Entrada Del Pueblo, the latest 428-lot subdivision being added south of Entrada Del Coraza.

Lennar Homes closed on 110 SFR lots for $6,864,000 ($62,400 per finished lot). Sixty will be 45-foot wide lots and fifty are 50-foot wides.

Richmond American Homes also purchased 98 SFR lots which are all 45-foot wide lots for $6,131,381 ($62,565 per finished lot).

Lennar and Richmond both closed on platted lots with seller, an affiliate of Rancho Sahuarita, will provide finished lots at a per lot development agreement.

Rancho Sahuarita is a 3,000-acre master planned community located within the municipal boundaries of Sahuarita, Arizona, a town with a population of approximately 31,500 in Southern Arizona. Sahuarita is one of Arizona’s fastest-growing communities located roughly 20 minutes south of Central Tucson on Interstate 19 and Tucson International Airport a 20-minute drive.

Started in 2000, Rancho Sahuarita began expansion south of Sahuarita Road with Entrada La Coraza earlier this year, located in the vicinity of the new hospital. Entrada Del Pueblo’s 428 homesites, will be to the south of Entrada La Coraza with 144-lots.

In 2020, new home sales in Greater Tucson have increased by 7.9% and new permits by 17.3%, according to RL Brown. That momentum has continued into 2021, with January reported as ‘the highest new home sales month to date in Rancho Sahuarita.

“In addition to Lennar Homes and Richmond American Homes, two other homebuilders are currently in escrow to close out Entrada Del Pueblo,” said Diana Dessy, Director of Land Assets for Rancho Sahuarita Management company. “One will be closing as this article comes out and the other is scheduled for later this month.” So stand by for more news from Rancho Sahuarita coming soon.

For more information on Rancho Sahuarita, Dessy should be reached at 520.275.7235.

To learn more, see RED Comp #8764 and #8773.