Monday, July 15, 2019

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 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...

Continental Ranch Shopping Center sold for $3.4 Million

MARANA, ARIZONA -- Continental Ranch Shopping Center at 8235-8245 N Silverbell Rd., Marana, AZ on the corner of Wade Rd. and Silverbell Road in Marana sold to 2908 RT. 130, LLC for $3,386,733 ($157 PSF). The 21,600-square-foot Multi-tenant retail center received an offer within the first week of being...

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...

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...

Rio Nuevo District Acquires Broadway Corridor, Sunshine Mile Office Building

TUCSON, ARIZONA - Rio Nuevo Multipurpose Facilities District bought a 12,686-square-foot office space from New Dekel, LLC (Amram Dahukey, managing member) at 2221 East Broadway Boulevard in Tucson for $700,000 ($55 PSF). The 62% vacant multi-tenant building was constructed in 1965 and is located on the Broadway widening area...

Meritage Reloads at La Estancia / Richmond Continues Acquisition Surge this...

TUCSON, ARIZONA – Meritage Homes acquired 142 SFR lots at La Estancia having almost completed its first phase of 195 lots in this new master planned community since opening in June 2016. The seller, SBH La Estancia, an affiliate of Sunbelt Holdings, sold the lots for $6.25 million, or $44,000...

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...

A 3-Property Apartment Portfolio Sells in Southwest Tucson Submarket for $8.6...

TUCSON, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of three apartment properties in Tucson, AZ:  River View Villas (80-units), Santa Cruz Vista (56-units), and Westlake Village (100-units), according to...

Com Land Deals In and Around Tucson

AutoZone Purchases Land at Houghton Town Center AutoZone purchased a .78 acre parcel of land at Houghton Town Center for $700,000 ($20.52 PSF) from Diamond Ventures of Tucson. AutoZone has started construction of the store to be located at 10240 E Old Vail Road, east of Dunkin Donuts. AutoZone has...

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...

Former Nimbus Brewery and Restaurant Building Sold for More Than $1.4...

Tucson, Ariz. – CBRE has completed the sale of the former Nimbus Brewery and Restaurant building at 6464 E. Tanque Verde Road in Tucson. The property commanded a sale price of $1.415 million ($168 PSF). Pete Villaescusa and Jesse Peron with CBRE’s Tucson office negotiated on behalf of the seller,...
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