Friday, September 21, 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...

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’...

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...

Highland Park Apartments Sells in Off-Market Transaction for $3.3 Million

TUCSON, ARIZONA – A California investor, LV Management, LLC purchased Highland Park Apartments at 1402 E Manlove Street in Tucson for $3.3 million ($55,100 per unit). Chris Itule with Long Realty represented the seller, Highland Park Apartments, LLC and Jake Arnold and Ben Riehl of Keller Williams in Tucson represented...

Phase I Gladden Farms Closed out with Final Sale to Meritage...

MARANA, Arizona – Meritage Homes recently closed on the last two blocks at Gladden Farms in Phase I for $1.82 million ($24,000 per lot). Blocks 7 and 13 sold platted for 76 homesites by Crown West Realty (Dean Wingert member) the developer. Gladden Farms is a 1,350-acre master planned community...

Aztera creates 30,000 SF ‘Hub of Innovation’ in Central Tucson

Aztera Properties, LLC (Manny Teran, manager) purchased an approximately 30,000-square-foot office/manufacturing facility in two buildings at 1120-1140 N Anita Avenue in Tucson for $1.25 million ($42 PSF). The property is at I-10 and Speedway Boulevard in Central Tucson and formerly occupied by Victory Motorcycles. Technology innovation is the driving force...

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...

Meritage Homes Stays Busy at Gladden Farms in Marana

MARANA, ARIZONA -- Meritage Homes purchased portions of blocks 40 and 41 at Gladden Farms Master Planned Community in Marana for $1.4 million ($60,000 per acre) from Crown West Realty (Dean Wingert, member) the developer. The 23 acres sold with preliminary plat for 119 - 45’ x 120’ SFR lots. Gladden...

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%...

Freddy’s and Native Grill Coming to Steampump Village in Oro Valley

Brenna Lacey and Dave Hammack of Volk Company in Tucson negotiated for the seller, Evergreen-Steam Pump, L.L.C. in the sale of two pads at Steam Pump Village in Oro Valley, Arizona for a total of $1.475 million: Steampump Native purchased approximately 58,072-square-feet of land at 11107 North Oracle Road...

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...
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