Friday, September 21, 2018

Oracle Road Medical Office sold to Private Investors from Michigan

Oro Valley, Arizona – Pearl Peak, LLC of Whitefish, Michigan (Nicholas R. Chickering) closed on a triple net investment property at 7510 N Oracle Road, Ste 100, in Oro Valley, Arizona for $2.2 Million ($360 PSF). The 6,008-square-foot office condominium, built in 2009 of masonry construction, is located in...

Berkadia Completes $128 Million Portfolio Sale – Reaches New Record

TUCSON, Arizona – When Berkadia’s Senior Managing Director Art Wadlund and Director Clint Wadlund of the Tucson closed recently on Pinnacle Heights Apartments it was the conclusion of a five-property portfolio sale, worth just under $128 million, representing the highest bulk apartment sale for the region and setting a...

Rio Nuevo District Acquires Broadway Corridor, Sunshine Mile Office Building

TUCSON, ARIZONA - Rio Nuevo Multipurpose Facilities District bought a 12,686-square-foot office space from New Dekel, LLC (Amram Dahukey, managing member) at 2221 East Broadway Boulevard in Tucson for $700,000 ($55 PSF). The 62% vacant multi-tenant building was constructed in 1965 and is located on the Broadway widening area...

Vail Development Makes Headway; formerly the ‘Passages’ 400 Acre Site Sold...

VAIL, Arizona – Chicago-based Rancho Del Lago developer, RMG Vail II LLC, has closed on approximately 400 acres of land from Pima Land, LLC of Minneapolis, MN.  Located at I-10 and US 83 in Vail, the purchase price of $475,000 or about $1,200 per acre was the auction price. The...

Live / Work Building near UA Sells to Used Furniture Start-Up

TUCSON, ARIZONA -- The live/work building at 103 North Park Avenue in Tucson sold for $625,000 ($124 PSF) to Loon Lake LLC of Tucson (Andrew Suter, manager). The building consists of studio and loft space for office, retail and/or living space. Located between the University of Arizona and Tucson South...

Hood Distribution Building on Toole in Tucson Sells for $1.5 Million

TUCSON, Arizona – The Hood Distribution / McEwen Group building at 501 S Toole Avenue in Tucson sold for $1.468 million ($47 PSF) in a net lease investment sale. The 31,160-square-feet of buildings was built in 1972 and sits on a 3 acre lot. It was 100% occupied at...

Meritage Homes Stays Busy at Gladden Farms in Marana

MARANA, ARIZONA -- Meritage Homes purchased portions of blocks 40 and 41 at Gladden Farms Master Planned Community in Marana for $1.4 million ($60,000 per acre) from Crown West Realty (Dean Wingert, member) the developer. The 23 acres sold with preliminary plat for 119 - 45’ x 120’ SFR lots. Gladden...

CBRE Completes Single-Tenant Net Investment Sale of Sweet Tomatoes in Tucson

Tucson, Arizona – CBRE has completed the sale of a single-tenant, 7,024-square-foot Sweet Tomatoes located at 6202 E. Broadway Boulevard in The Broadway Wilmot Shopping Center in Tucson, Arizona. The property garnered multiple offers and commanded a sale price of $3.180 million ($452.73 PSF) which was over listed price. Nancy McClure...

ABI Multifamily Brokers $3.9M Sale in Central Tucson

Phoenix, Arizona  -- ABI Multifamily is pleased to announce the $3.9 million  / $46,428 per unit sale of the Casa del Norte Apartments located at 3802 N Flowing Wells Road in Tucson, Arizona.  Casa del Norte is a two story, garden-style apartment community, built in 1984 and rests on...

Berkadia Closes on $43 Million Apartment Deal in Tucson

TUCSON, Ariz.– Berkadia announced $43 million in sales and the $30 million financing of Hacienda del Rio and Colonia del Rio, two garden-style multifamily properties in Tucson, Arizona. Senior Managing Director Art Wadlund and Director Clint Wadlund of the Tucson office completed the sales on behalf of the buyer,...

Inline Shops at Safeway Rancho Vistoso Shopping Center sells for $10...

ORO Valley, Arizona – Brentwood Developments, Inc. of Rocklin, California (Brad Griffith, manager) purchased the 34,770-square-feet of inline shop space at the Safeway Rancho Vistoso Shopping Center, 12112, 12142 and 12152 N Rancho Vistoso Blvd in Oro Valley for $10 million ($287.60 PSF). This is the fifth asset acquisition by...

Office Building in Camp Lowell Corporate Center Purchased by Tenant

TUCSON, ARIZONA -- BADA Holdings, LLC (Allison Duffy, Manager) bought a 5,520-square-foot office building from KLB Properties, LLC (Don Butler II, Manager) for $995,360 ($180 PSF). The property is located at 4534 – 4538 East Camp Lowell Drive in Camp Lowell Corporate Center at Swan and Camp Lowell. The buyer exercised an option for Silverado Technologies also owned...
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