Thursday, January 18, 2018

Legacy Property Management Trades Two Investment Properties in Tucson

TUCSON, ARIZONA -- California investor, Legacy Property Management, LLC traded into a property at 155 North Rosemont Blvd. in Tucson for $10.25 million ($207 PSF). The approximate 50,000-square-feet Class A, two-story building was built in 1998 to AOL's, state-of-the-art specifications as a call center and renovated in 2015. Located north...

Old Vail Plaza Growing with another Out Pad Sale

TUCSON, AZ -- OVP Lot 10, LLC of Tucson (Kevin Morrissey, manager) purchased 0.26 acres of land at Old Vail Plaza for $715,000 ($62.36 PSF). Located on the Northeast corner of Houghton Road & Old Vail Road, across from Houghton Town Center, and adjacent to the Rita Ranch Vail...

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’...

Mesquite at Wrightstown Enters Phase II of Tucson Infill Project

Tucson Land and Cattle Company LLC (Jim Campbell, manager) exercised an option to complete Phase II at Mesquite at Wrightstown, a subdivision located southwest of Harrison and Wrightstown Road in Tucson. Phase I with 12 homesites is under construction by Mesquite Homes and Phase II will add an additional...

Auto Zone and Burger King Coming to Sorrento Square in Tucson

TUCSON, ARIZONA – Sorrento Square, a new retail center development by Larsen Baker of Tucson, located southwest of the corner of Houghton and Golf Links Roads in Tucson will soon have a Burger King and an Auto Zone. Laird Real Estate (Michael Laird, trustee) purchased a 16,190-square-foot pad at Sorrento...

Arizona Auto Spa Sells To Colorado Group

TUCSON, ARIZONA – Arizona Auto Spa at 8687 E Golf Links Rd in Tucson sold to a  private Colorado group of car wash owners for $328,000 ($154 PSF). The 2,128-square-foot car was built in 1986 on a .46 acre lot located at Golf Links and Pantano Pkwy in the Eastern...

Mission Palms Apartment in Northwest Tucson Sells for $37.25 Million

TUCSON, ARIZONA -- Berkadia recently handled the $37.25 million ($103.472 per unit) sale of Mission Palms, a garden-style multifamily property located in Tucson, Arizona. Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of the Tucson office represented both the buyer, ROC Senior Living, and the seller, Stoneweg...

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....

Steam Pump Freddy’s Sells in Net Lease Sale for $2.46 Million

Oro Valley, Arizona -- Freddy's Frozen Custard and Steakburgers at 11143 N Oracle Road at Steam Pump Village in Oro Valley sold in a net lease sale for $2.46 million ($673 PSF) to a California Investor, The Marsha A. Covert Trust. The 3,654 square-foot location seats 100 guests and has...

Catalina Palms Plaza in Town of Catalina Sells for $1.975 Million

TUCSON, ARIZONA – Catalina Palms Plaza at 16701 N Oracle Road in Catalina, Arizona sold for $1.975 million ($151 PSF) to Jack R Schneider of Severance, Colorado. The 13,096-square-foot strip center on 2.35 acres is located in the Town of Catalina drawing customers from Oro Valley to Saddlebrook. Oracle Road...

Swire Coca-Cola Acquires Coca-Cola Bottling in Tucson in Refranchising Agreement

TUCSON, AZ -- Swire Pacific Limited ("Swire Pacific"), a subsidiary within Swire Pacific's Beverages Division, completed the refranchising from The Coca-Cola Company of territories in Arizona and New Mexico, including the acquisition of eight sales and distribution facilities in these territories. Swire Coca-Cola’s operation of the territories commenced July...

Old Pueblo Grill Sells for $1.2 Million to Remain a Restaurant

HSL Properties of Tucson (Omar Mireles, vice-president) through an affiliate, HSL 60 N Alvernon, LLC, purchased the former Old Pueblo Grill restaurant at 60 North Alvernon in Tucson for $1.2 million ($147 PSF). The 8,147 square-foot building on 1.72 acres is located northeast of Broadway and Alvernon. The historical building,...
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