Thursday, January 18, 2018

Residential Lot Sales are Brisk in Dove Mountain

Pulte Homes closed on additional land for 241 SFR lots in the Del Webb at Dove Mountain Active Adult Community where it plans to build approximately 650 homes on 208 acres when complete. The latest takedown for 241 lots sold for $6.96 million ($28,863 per lot). This was phase...

Dove Mountain Retail Property Sales off the charts this Month

Retail property sales at Dove Mountain Retail Center were much more than usual this month, in fact, Cottonwood Properties sold out of improved properties at the center. We were told remaining are only some out pads and surrounding land that the Dove Mountain community developer still owns for retail...

Tucson Housing Lot Sales Soared in July with 737 Lots Sold

Tucson housing lot sales rose in July, as home sales were up 25% over last year, and sales volume increased by over 28% from 2014. At mid-year, there were reported 14 land transactions totaling over $26 million. In July, there were  11 land transactions totaling $11.6 million, 728 platted...

McCraren Compliance Expands into New Industrial Building

McCraren Compliance (Michael McCraren, member) purchased a 15,186-square-foot industrial building at 3980 E Columbia for $730,000 ($48 PSF). Purchased for business expansion, the company will be relocating from its current location in Tucson that it leased. The company specializes in safety training and consulting for the mining and transportation industries....

Orange Grove Medical Center Sells for $3 Million

Orange Grove Medical Center, a 40,782 total square foot multi-tenant office building, sold for $3 million ($73.56 PSF). The property is located on the southeast corner of Orange Grove Road and La Cholla Boulevard in Tucson. Constructed in 1988, the medical center sits on fee ground at the Northwest...

Four Tucson Retail Properties Sell for a Sum of $13.5 Million

Tractor Supply, Circle K, Kneaders and Family Dollar Sell in Tucson Retail Investment Sales Total $13.5 Million and average 6.4% cap rate The newly constructed Tractor Supply store at 15884 N Oracle Road in Catalina, AZ sold for $5.2 million ($238 PSF). The transaction was a sale-leaseback of the newly...

Berkadia Completes Two Tucson Apartment Sales worth $41.7 Million

TUCSON, AZ -- Scottsdale-based, Bascom Arizona Ventures, through affiliate Silverbell Property Investor LLC (Glenn Daiutolo and Jerry Finney, Managing Directors) bought The Springs at Silverbell Apartment at 7759 N Silverbell Road in Tucson for $31.5 million ($108,621 per unit). The Springs at Silverbell Apartment Homes is a 290-unit garden-style apartment...

Harsch Expands AZ Portfolio with $10.3 Million Acquisition of Tucson...

TUCSON, ARIZONA -- Rockefeller Group sold the Rockefeller Group Distribution Center - Phase I industrial building / distribution center at 6855-6751 S. Lisa Frank Ave. in Tucson, AZ for $10.125 million ($89 PSF) to Harsch Investment Properties, a Portland-based real estate investment, development and management company. Formerly known as Rockefeller...

Marcus & Millichap Negotiates Westwood Apartments Sale in Tucson for $1.32M

TUCSON, Arizona – Westwood Apartments at 714 East 10th Street in Tucson sold for $1.32 million ($69,474 per unit) in a value-add transaction. The 19-units in 15,668-square-feet on .42 acres were built in 1969 with a unit mix of two 1-bedroom, (16) 2-bedroom and (1) 3-bedroom units. The buyer, Vishal Patel...

Tucson Office Sales Gaining Traction in 2017

TUCSON, ARIZONA -- According to tracking done by Real Estate Daily News and RED Comps, the Tucson office market is picking up steam as 2017 advances. The average price per square foot for office buildings selling is once again on the rise, with Q3 reaching $145.54 per square foot, a...

Sonesta ES Suites adds 9 Hotels Including Tucson Residence Inn To...

New Extended Stay Brand, Officially Launched in May 2015, Grows to 25 Hotels in U.S. Newton, MA-based Sonesta International Hotels Corporation, parent company for its Sonesta ES Suites brand purchased recently nine new extended stay hotels. Sonesta ES Suitest extended stay brand for Sonesta, officially launched in May 2015....

Villa Pacifica Apartments in Tucson Sells For $7.28 Million

TUCSON, ARIZONA - ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $7,282,500  ($41,378 per unit) sale of the Villa Pacifica Apartments at 4650 E 29th Street in Tucson, AZ. Villa Pacifica is a two- and three-story, garden-style apartment community which resides...
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