Sunday, December 9, 2018

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...

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...

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...

Newly Constructed Arby’s Sells in Sale-Leaseback at Old Vail Plaza

VAIL, Arizona – The newly constructed Arby’s Restaurant at 10115 East Old Vail Road in Tucson in Old Vail Plaza recently sold for $1.59 million ($749 PSF). The brand new 20-year triple-net (NNN) sale-leaseback with zero landlord responsibilities was purchased by Lee & Lee Properties, LC (45% share) and (55%...

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...

Sabino Veterinary Center Buys Building to Relocate Next Door

SAJE Investments, LLC (Drs. Jim and Susan Stofft, DVM) purchased a 3,220-square-foot medical building at 4910 N. Sabino Canyon Road in Tucson for $625,000 ($195 PSF) from Sabino Canyon Investments, LLC (Ronald Kline, manager). The property was vacant at time of sale. The buyer operates Sabino Veterinary Care currently at...

Tenet’s Joint Venture Closes on Carondelet Network in Tucson for $105...

SMSJ Tucson Holdings, a new joint venture between Tenet Healthcare, Dignity Health in Arizona and Ascension a faith based healthcare organization, closed on the acquisition of Carondelet Health Network for approximately $105 million. Ascension prior to this owned 100 percent of Carondelet. Tent will be the majority partner in...

Cali Investor Completes 29 Hotel Portfolio Acquisition

A consortium of private investment groups affiliated with Hall Equities Group of Walnut Creek, CA and Real Estate Investor and Developer Mark Hall have acquired 29 hotels and the corporate assets of Duluth, Minnesota based hotelier ZMC Hotels. ZMC Hotels is a third generation family business previously owned and operated...

Chapman and Partners Purchase Pima Street Office Project

TUCSON, Arizona – Lillestrom II, LLC of Tucson (Swain Chapman, Managing Member) purchased the multitenant office building at 5920 & 5930 East Pima Street in Tucson for $1.8 million ($87 PSF). The 20,140-square-foot office complex was built in two phases, 1986 and 2002, on 1.67 acres and features covered parking...

Pima County Moves Ahead to Acquire 3,283-acre Tesoro Nueve Ranch

PIMA COUNTY -- The Pima County Board of Supervisors at its June 19 meeting voted 3-2 to acquire more than 3,283 acres of riparian habitat on the eastern slopes of the Catalina Mountains for future conservation. The Tesoro Nueve Ranch includes 1,476 acres of land and 1,807 acres of state...

Two New Luxury Home Communities Coming to Oro Valley

The Sanctuary at Silverhawke by Meritage Homes Meritage Homes of Arizona (Jeff Grobstein, President Desert Region) purchased approximately 150 acres for $2,526,480 ($57,420 per lot) for a new, gated community in Oro Valley. Located within one of Tucson's most prestigious areas, Sanctuary at Silverhawke will feature 44 new, energy-efficient homes...

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...
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