Monday, June 25, 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...

Bourn brings Second Nordstrom Rack and New Build-to-Suit to Tucson

Seattle-based Nordstrom, Inc. (NYSE: JWN) announced Thursday plans to open Nordstrom Rack at Wilmot Plaza in Tucson, Arizona. The approximately 25,000-square-foot store is scheduled to open in spring 2016. The property is owned by BP Wilmot Plaza LLC, an affiliate of Bourn Companies LLC, a commercial real estate investment,...

Several Residential Developments Reach Final Takedown Phase This Month

TUCSON,  Arizona --  The Metro Tucson Housing Market continues to show signs of possibly its best year since 2008.  As home builders exercise options earlier than scheduled to keep up with demand in Northwest Tucson and get creative with infill projects at the same time. Pulte Home Company exercised its...

New Apartment Complex Planned for River and Craycroft in Tucson

TUCSON, Arizona – MC Companies of Scottsdale purchased 12.65 acres at River and Craycroft in Tucson for $3 million ($5.42 PSF). The site is at the southeast corner and will be used for construction of a 210-unit upscale apartment complex. The first new apartment complex for quite some to be...

Former RoomStore Furniture Store in Scottsdale Sells for $8.25 Million

SCOTTSDALE, AZ – The former RoomStore furniture store at 15826 N. Scottsdale Rd., Scottsdale sold for $8.25 million  ($263.00 PSF). The company filed bankruptcy in December 2015 and closed all Arizona stores, including this location. Tom Boyle, Principal with Lee & Associates, brokered the transaction. The buyer was Bridge Enterprises,...

Flanders Tucson Manufacturer adding 6,750 SF, NAI Retained for Brokerage

TUCSON, ARIZONA – FLANDERS, an Indiana-based manufacturer of heavy industry electric motors and generators, is breaking ground on a 6,750-square-foot administrative and warehouse building, adding to its footprint at 5785 S. Belvedere Ave., in Tucson. David Blanchette, CCIM, of the Tucson office of NAI Horizon, has been retained to provide...

Embassy Suites Tucson Paloma Village Sells for $18.9 Million

Skyline Campbell Hotel Partners, a joint venture with NCSKY, Grace Financial Investment, and The Scotia Group, Ltd. of Tucson (Peter Aranoff, president) sold the Embassy Suites Tucson – Paloma Village hotel at 3110 E Skyline in Tucson for $18.9 million ($158,824 per room / $190 PSF). The 99,330-square-feet hotel,...

Metro Tucson Homebuilders Acquire 172 Lots for Aggregate of $7.15 Million

TUCSON, AZ -- Three major homebuilders, Pulte, DR Horton and Richmond American, added to lot inventory this month. The following sales took place within metro Tucson over the past 30-days, totaling 172 lots and an aggregate sale price of $7.15 million. Pulte Home Corporation purchased 83 platted and engineered 50’x120’...
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