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 by Allison Duffy, that previously leased 65% of the building. Silverado will continue to lease the building with a second tenant, NFP Property and Casualty Services a Travelers Insurance firm in the remaining 1,932-square-foot office.

For 19 years Silverado has provided managed IT services to businesses in the Tucson area, and earned a reputation for exceptional customer service.  Silverado has been recognized with an Ethics in Business Award from the Better Business Bureau and a Customer Satisfaction score from Microsoft that placed the company in the Top 15% in the country.

With a team of engineers and technicians, Silverado’s knowledgeable and dependable experts have certifications from Microsoft, Cisco, VMware, and more.  To keep up with the ever-changing world of information technology and be a true IT advisor its clients.

As a full-service IT Managed Services Provider, Silverado Technologies offers:

• Services: Managed IT Support, Office 365, Local and Offsite Backup, Network Monitoring
• Solutions: Security, Cloud, Virtualization, Network Design, Disaster Recovery
• Partnership: Risk Assessments, Business Reviews, Technology Planning

Supporting small-to-medium sized businesses, as well as those in the health care sector, Silverado provides enterprise-level IT services, tailored to the client’s need and budget.

Dean Cotlow of Cotlow Company represented the seller.

Jeff Casper of CBRE’s Tucson Office represented the buyer.

Jeff Casper with CBRE told us, “The buyer exercised an option to purchase the property after occupying the space for one year in a five year lease and to control the space next door that sold with several years left remaining on that lease.”

For more information, Casper should be reached at 520.323.5181 and Cotlow can be contacted at 520.881.8180.

To learn more, see RED Comp #6076.

TUCSON, ARIZONA — Daniela Gallagher,  Vice President, Economic Development at Sun Corridor broke the news of a new Texas Instruments project coming to 301 South Williams Blvd in Tucson Thursday at the Pima County Research Council meeting. Previously to this only known by the code name “Project Treasure”.

Texas Instruments, Inc. of Dallas, Texas closed on the last remaining 8.28-acre parcel at the Williams Centre for $4.96 million ($13.75 PSF). A Texas Instrument spokesman told us the company plans to construct a 125,000-square-foot, three-story building on the site for the 300-330 fluctuating number of employees currently working at the 5411 E Williams Blvd. facility.

The new facility is to be built at a cost of $29 million to allow expansion and plans to add an additional 35 jobs over time, increasing employment opportunities in the area for electrical engineering, financial managers, electrical and electronics technicians, general administration, operations managers and financial specialists.

The company has been operating in Tucson since 2000, when it acquired Burr Brown Research Corporation.

Earlier this month, the City Council approved an unnamed company’s request for incentives under the Primary Jobs Incentive program, which requires companies to invest at least $5 million in facilities or equipment, create at least 25 jobs that pay wages of $52,400 or more and cover at least 75 percent of employee health insurance premiums.

Reimbursement of permit fees were valued at $81,000 and offsets to impact fees for the project or job training were estimated at $338,364 for the development dubbed “Project Treasure,” filings with the city show.

“A project assessment prepared for Sun Corridor Inc. showed that from 2019 to 2023, Texas Instruments’ economic impact is projected at more than $1 billion,” Daniella Gallagher said. “The economic impact of the company’s investment is expected to be $68 million over the next five years.”

The seller was Kent Circle Partners and Seldin Real Estate, Inc of Scottsdale (Scott Seldin, manager). “Texas Instruments wanted to stay in the William Center area,” Seldin told us.  “We were happy to oblige them with exactly what they wanted and are happy about the economic growth Tucson is witnessing.”

Seldin still owns 250 S Williams Blvd. across the street occupied by Raytheon and the 5151 E Broadway tower nearby.

David Montijo and Damian Wilkinson with CBRE in Tucson handled the sale of the property for Seldin and Texas Instruments was self-represented.

To learn more, login and see RED Comp #6077.

[mepr-show rules=”58038″]Sale date: 8/14/2018. Document #2018-2260168. Sale price: $4,962,141. Buyer plans to construct a 125,000 SF 3-story building to be owner occupied by Texas Instruments[/mepr-show]

TUCSON, ARIZONA — The following commercial real estate transactions totaling $3.3 million created a lot of conversation at the July meeting of the Southern Arizona CCIM Chapter, in case you missed it, we’re publishing them here as part of our CCIM Conversation Corner.

Jade Bossert with Tierra Antigua represented the buyer, Erna K Kaplan and the seller, Antonio S Moreno, in the sale of Menlo Park, a 14-unit, 9,512-square-feet apartment building at 1204-1233 W Cedar Street in Tucson for $951,000 ($67,929 per unit / $100 PSF). The property is on a 33,541-square-foot lot located 4 blocks away from the new Caterpillar headquarter. Judy Kaiser with Fidelity National was the escrow agent. To learn more see RED Comp #5921.

James P Robertson, Jr., CCIM, and Omer Kreso, CCIM Candidate with Realty Executive Tucson Elite represented the seller, Caroline Duff of Tucson and the buyer, Ann Boyce of Bakersfield, California. The 8-units in 7,378-square-feet sold in an all cash transaction for $780,000 ($97,528 per unit / $106 PSF).  Vicki Relich of Pioneer Title Company was the escrow agent. To learn more, see RED Comp #5930.

Craig Finfrock, CCIM, of Commercial Retail Advisors, LLC represented the buyer, Surf Thru, Inc, and Rob Tomlinson and Isaac Figueroa of Cushman & Wakefield | Picor represented the Seller, Altima Investments, LLC, in the sale and purchase of land at 6307 E Grant Road. This is the third Surf Thru site in the Tucson. The Bakersfield, CA based quick service carwash chain paid $700,000 ($14.90 PSF) for 46,986-square-feet of land.  Located at the northeast corner of Grant and Wilmot Roads adjacent to Carl’s Jr. and Costco. This will be the 16th location for Surf Thru Express Car Wash, with four locations under construction. Surf Thru is expanding throughout the Southwest, including Southern California, Arizona, Nevada, New Mexico, and Texas. To learn more, see RED Comp #5816.

James P Robertson, Jr., CCIM, with Realty Executive Tucson Elite handled the sale of 4610 E Speedway Blvd. in Tucson for $308,000 all cash ($197.82 PSF). I Chief, LLC of Mesa was the seller and Chelton, LLC of Tucson the buyer. The property will be converted to food and beverage service. To learn more, see RED Comp #5978.

Brandon Rodgers, CCIM, at Cushman & Wakefield | Picor and James T Lavery, CCIM, at Realty Executives Tucson Elites handled the sale of 2.8 acres at 4980 E Canada Street in Tucson for $215.964 ($1.75 PSF). Zoned I-2, the buyer, John Dorris, purchased it for expansion and outside storage space. Judy Kaiser with Fidelity National was the escrow agent. To learn more, see RED Comp #6032.

James P Robertson, Jr., CCIM, with Realty Executive Tucson Elite sold the property at 3228 S 12^th Avenue in Tucson for $175,000 ($64.41 PSF) to The Harty Family Living Trust of Phoenix. The property will be converted to a medical office clinic. Vicki Relich of Pioneer Title Company was the escrow agent. To learn more, see RED Comp #5924.

Mark Hayes of Tierra Antigua handled the sale of 1.18 acres land northwest of River Road and Oracle Road for $110,000 ($2.14 PSF) in an all cash estate sale. Bob Camino Principal, LLC (Bob Zhang, manager) was the buyer who plans to re-zoned for development of four SFR lots. Bob Zhang, with Neal Manning Real Estate in Tucson, was self-represented in the transaction. To learn more see RED Comp 6031.