Monday, June 25, 2018

Larsen Baker Acquires Multi-Tenant Flex Building for $7.4 Million

Larsen Baker of Tucson (George Larsen and Don Baker, members) has acquired the industrial flex office building at 4755 – 4775 S Butterfield Drive in Tucson for $7.4 million ($77 PSF). The 93,913-square-foot building (built 1986) is located on 7.6 acres in the Class A industrial park, Butterfield Business Center. A...

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’...

Three National Restaurant Users Coming to Las Plazas at Old Vail

Tucson, AZ – Las Plazas at Old Vail, a 17-acre retail development at the northwest corner of Houghton and Old Vail Roads in Southeast Tucson, has landed its first wave of restaurant users. CBRE recently completed the sale of the first three lots and the development will soon be...

Enlivant Expansion Includes Tucson Assisted Living for $12.25 Million

TUCSON, AZ -- Chicago-based Enlivant, one of the nation’s largest owners and operators of senior living communities, TPG, a leading global investment firm, and TPG Real Estate, the real estate platform of TPG, are acquiring a series of large, strategic portfolio acquisitions from several unrelated organizations. As part of...

Thrasher Law Offices Finalize $18.17 Million in Multifamily Transactions in Tucson

TUCSON, ARIZONA – Thrasher Law Offices, PLLC handled the sale of two apartment complexes with an aggregate value of $18.17 million. Hamilton Zanze & Company of San Francisco, Calif. sold the Arches at Oracle Apartments at 5921 N Oracle Road in Tucson for $12.4 million ($86,111 per unit). The 144-unit...

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...

Land Sale Brings Panda Express to “The Corner’ in Sahuarita

SAHUARITA, Arizona – CFT NV Developments, LLC purchased 49,173-square-feet of land at the northeast corner of Rancho Sahuarita Boulevard and Sahuarita Road in Sahuarita for $950,000 ($19.32 PSF). The buyer plans to construct an approximate 2,500-square-foot Panda Express on the site. The parcel is part of a planned commercial development...

Colliers Completes Sale of Two Apartment Communities in Tucson for $6.1...

Georgetown and Park Village Communities Sold for $6.1+ Million Phoenix, Arizona – Colliers International in Greater Phoenix has sold two different apartment communities in Tucson for a total sales price of $6,149,000 ($39,417 per unit) .  The developments contain a combined 156 apartment units and were sold to separate California-based...

David Lee Completes Retail Sales Worth $1.93 Million in Tucson

TUCSON, Arizona – Marlee Saguaro, LLC of Tucson (David Lee, manager) purchased a 5,215-square-foot free standing restaurant at 4499 W. Ina Road in Marana AZ for $680,000 ($130 PSF). The former Chuy’s Mesquite Broiler was vacant at time of sale on a 52,042-square-foot pad. The buyer owns an adjacent 35,000-square-foot...

Wilmot Plaza $47.3M Sale Named Tucson’s 2016 ‘Deal of the Year’

TUCSON, Arizona -- As we look back over the 782 commercial transactions to-date for Tucson in 2016, with the help of our RED Comps database, the ‘Deal of the Year’ stands out as being the highest retail sale of the “trophy asset” Wilmot Plaza. Purchased in September 2016, by...

The Mark at Tucson Student Housing Land Sale Closes at Broadway...

TUCSON, ARIZONA – Landmark Properties, dba The Mark at Tucson, closed August 25th on its second student housing project site at 931-949 East Broadway Blvd. in Tucson for $4,631,375 ($41.49 PSF). Its first student housing in Tucson, The Retreat Tucson is at 22nd Street and Park Avenue with 189 units...

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....
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