TUCSON, ARIZ. — James P. Robertson Jr., MBA, CCIM, Associate Broker: Investment & Commercial Brokerage and Omer Kreso both with Realty Executives Arizona Territory assisted 1401 E. Adelaide Dr., LLC (Matthew Horn, manager) on their purchase of 1401 E. Adelaide Dr. Tucson, AZ 85719. The seller’s agent, Laura Grijalva and Ed Garcia with Grijalva Realty assisted in facilitating the transaction.

This property was ideal for 1401 E. Adelaide Dr., LLC, the investor, allowing them to expand their multifamily portfolio in the Tucson, AZ MSA and sold at $2.4 million.

“Even at $96,000 per unit it was an opportunity to both parties,” said Robertson.

Village Green Townhomes is a 25-unit, garden-style apartment community in the central district of Tucson, Arizona. Built in 1964, the property consists of 6 rental buildings constructed of concrete block on approximately 1.75 acres.

The unit mix consists of 24 two-bed / one-bath units, 1 one-bed / one-bath unit. With an average of 800-square-feet per unit.

Great U of A location. Cat Trans stop across the street. Lush green landscaping. Large community pool. Wood and carpet flooring. Full bath. Kitchen includes an electric stove and refrigerator. AC. Storage. Fenced yard. Coin-op laundry on site. Tenant pays gas and electric.

For more information, Robertson should be reached at 520.284.9572 and Kreso can be contacted at 520.247.7480.

To learn more, see RED Comp #8811

TUCSON, ARIZONA — A group of Tucson investors, CA 36^th Street American, LLC, sold a portion of the former Grant Road Lumber Contractor Yard at 3361 East 36^th Street to California-based, Johnson Family Trust for $3.55 million ($46 PSF) with 77,625-square-feet of structures including a 13,280-square-foot office building, a 7,500-square-foot office/warehouse, and 56,845- square-feet of warehouses and canopy type storage structures.

Property was fully leased at time of sale leased to NPL Construction Co. (NPL) on approximately nine acres for ten-years along with the buildings south of the railroad tracks.

NPL, a wholly owned subsidiary of Centuri Group, Inc., is a comprehensive utility infrastructure services enterprise dedicated to delivering a diverse array of solutions to North America’s gas and electric providers.

Founded in a small town in northern Minnesota, NPL began as Northern Gas Line Constructors focusing exclusively on gas customers. By 1971, the company progressed from the installation of local farm taps to construction of several large gas pipeline projects in nearby states. In 1973, the company was renamed Northern Pipeline Construction Company, and a few years later, moved to its current location to Phoenix.

In 2008, Northern Pipeline became NPL Construction Company. Today, the company is recognized as a leader in natural gas construction with a reputation in safety, quality, and customer satisfaction.

Dean Cotlow with Cotlow Company of Tucson self-represented the seller and Ken Hulbert with Daum Commercial Real Estate Services of Newport Beach, California.

For more information, Cotlow should be reached at 520.881.8180.

To learn more, see RED Comp #8765.

TUCSON, ARIZONA – Cushman & Wakefield announced that, as exclusive advisor to Lytle Enterprises, the real estate services firm’s Senior Housing Capital Markets team has arranged the sale of Broadway Proper, a 232-unit independent and assisted living community located in Tucson, Arizona. The community was acquired by a joint venture between Harrison Street and Stellar Senior Living.

The asset sold for $28.5 million ($122,845 per bed) according to public records.

Broadway Proper is a well-positioned and high performing asset that has recently undergone an extensive interior renovation that updated and modernized common areas to ensure continued success in a well populated seniors market that is poised for continued growth.

The Cushman & Wakefield team also represented the buyer in their pursuit of acquisition financing and was able to secure non-recourse financing that was provided by a national bank at favorable terms.

The Cushman & Wakefield team involved in the transaction included Vice Chairman Richard Swartz, Executive Managing Director Jay Wagner, Managing Director Aaron Rosenzweig, Director Dan Baker, and Associate Bailey Nygard.

“We are exceptionally pleased to have executed on behalf of both buyer and seller through a challenging time in the capital markets. The southwest continues to be an active market for our team and we look forward to continued success in the region,” said Rosenzweig.

To learn more, see RED Comp #8724.