TUCSON, ARIZONA – Tucson-based, Miller Sales & Engineering (Bruce Greene, President) bought a 39,073-square-foot warehouse / manufacturing building at Midvale Park Commerce Center for expansion and relocation. Built in 1985, the property sits on 4.55 acres and had been owner occupied by the seller, Acuity Brands Lighting of Conyers, GA is consolidating its facilities.

The asset sold for $2.725 million ($70 PSF).

Miller Sales and Engineering provides consulting services, feasibility studies, and project design to the mining industry. The company specializes in the design of water supply, mine dewatering, tunnel construction dewatering, slurry pumping and mine backfill systems to the mining industry. These designs may include dewatering wells, booster stations, portable pump skids, permanent pump stations and barges. It also provides engineering services for structures, skids, walkways, platforms, tanks, and pipelines.

In 2018, aiming to offer the most complete selection of product and service, it became a division of Technosub, a benchmark in North America in industrial pumping solutions, and grew its leadership position, driven by the collective power of joining force and expertise.

Tim Healy with CBRE in Tucson represented the seller and Mike Beck of The Voyager Bay Company – Tucson represented the buyer.

For more information, Healy should be contacted at 520.323.5119 and Beck can be reached at 520.822.8765.

To learn more, see RED Comp #8705.

TUCSON, ARIZONA — W4 Properties LLC (Mike and Jazmine Willard, managers) purchased an approximately 10,800 SF industrial building at 3645 S. Country Club Road from P2 3645 S. Country Club LLC for $582,000 ($54 PSF).

Built in 1974, the property was formerly occupied by Hose Power USA will be owner occupied by the buyer, dba Avanguard General Contracting. Avanguard is a Tucson-based general contractor, formed in 2006 primarily for commercial business contracting services. The building has two 12’x12’ grade level doors and sits on a 22,666-square-foot lot.

“The building on Country Club will be used for temporary storage for our clients while under construction,” said Mike Willard. “We currently have 2,000-square-feet used for storage at our 7,500-square-foot main office at 3730 S Dodge Blvd. We purchased that building out of bankruptcy about two years ago and completely renovated it. But we’ve since outgrown the storage area and need more space for our clients.”

Avanguard was named Contractor of the Year in 2014 by the National Small Business Association.

The sale was handled by Gary Emerson of GRE Partners, LLC.

Both buyer and seller are Tucson-based.

For more information, Emerson should be reached at 520.777.4949.

TUCSON, ARIZONA – NorthPointe Student Apartments, a 300-unit student-housing complex located 3.8 miles north of UA, has sold for $44 million ($147,000 per unit / $48.246 per bed). This is the largest student-housing sale since Sol y Luna, a 14-story, 977-bed student-housing property adjacent to the University of Arizona, that sold for nearly $200 million in January 2020.

Located at 850 East Wetmore, NorthPointe was acquired by Los Angeles-based real estate investment company Element Property Company. The price for the 1999-built 3-story property on 16.88-acres, compares with a “total appraised parcel value” of about $40 million, according to county records.

The seller was CPP Tucson LLC, an affiliate of Columbus Pacific Properties, a private REIT, founded in 1995, that engages in real estate investment, development, and lending businesses. It develops and redevelops shopping centers and residential properties in California, Arizona, New Mexico, Texas, Indiana, Nevada, Georgia, Kentucky, and Ohio.

Monthly rents at NorthPointe — with one-, two-, three- and four-bedroom units — starts at $395 per bed, according to apartments.com and come with everything needed for a comfortable, carefree college lifestyle: fully furnished floor plans with a private bathroom for each student, to exclusive accommodations and state-of–art fitness center and resort-style swimming pool and expansive basketball court, plus a fully-equipped, gorgeously renovated Resident Life Center – boasting “the largest to be found around” – containing roomy seating options and a separate computer lab for printing.

The property stands across the street from Oracle Wetmore Shopping Center, and Wetmore Plaza, burrowed amongst Tucson’s rolling mountains. NorthPointe is only minutes away from the Tucson Mall and a short drive by Shuttle Service from the University Arizona and Pima Community College.

NorthPoint’s sale highlights the sustained investor interest Tucson’s student-housing market amid the coronavirus pandemic.

Economic development officials have said that the Tucson multifamily-housing sector is boosting the single-family housing market, which has surged in the past year as buyers have sought out properties in suburban communities amid the coronavirus pandemic.

To learn more about this transaction, see RED Comp #8740.