TUCSON, ARIZONA – Landmark Properties, dba The Mark at Tucson, closed August 25^th 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 22^nd Street and Park Avenue with 189 units and 774 beds. This second project will encompass a full city block at Broadway Blvd. and Park Avenue, bordered by Tyndall and 10^th Street, between the high growth are of Downtown and the University of Arizona.

The Mark at Tucson will be on 2.56 acres and have 154-units with 595-beds in a layered 4- going to 6-story building with a five-story parking structure. Amenities will be similar to the Retreat Tucson, with pool, study lounge with computer lab, fitness center and secure bicycle storage.

Ideally suited for student housing, the project will be in close proximity to Downtown LINKS, scheduled for completion in 2018, an improvement project that will provide enhancements and connections for pedestrians, bicyclists, and motorists. It includes a new four-lane road connecting the Aviation Freeway to I-10, improved drainage, bike lanes, multi-use paths, new bridges, public art and a deck plaza above the future underpass on Sixth Street that promises to promote walkability in the Downtown and University area.

The Mark at Tucson is scheduled to open fall 2019.

Buzz Isaacson, First Vice President, and Senior Associates, John Ash and Jeff Casper with CBRE’s Tucson office handled negotiations for the seller, Bacon Industries, Inc. et al. of Tucson (Don Rollings, president).

For more information, Isaacson can be reached at 520.323.5151, Ash is at 520.323.5177 and Casper can be contacted at 520.323.5181.

To learn more, login and see RED Comp #5183.

KB Home buys at Rancho Del Lago and D.R. Horton at Vista Del Lago Norte

TUCSON, Arizona — KB Home Tucson, Inc. purchased 111 platted and engineered lots in Rancho del Lago from Vail Valley Joint Venture of Tucson (Bill Estes III, manager).

The sale closed on September 5, 2017 with a purchase price of $3,607,500 ($32,500 per lot) for 50’ X 120’ lots.

Randy Emerson of GRE Partners, LLC represented the seller.

KB Homes will be joining Meritage, Del Webb, Pepper Viner Homes and Pulte at the Rancho Del Lago golf course community at the foot of the Rincon Mountains in the southeast submarket of Tucson.

D.R. Horton purchased 119 platted lots at Vista Del Lago Norte in Vail for $3,076,812 ($25,855 per lot). The Property consists of 119-platted lots in this 198-lot subdivision that were platted by the seller, Vail UPRR North LLC (Duff Heron, manager). Lot sizes are 45′ x 115′.

D.R. Horton purchased the other 79-lots last year and completed this second phase purchase on August 15, 2017.

Dan Feig with Chapman Lindsey Commercial Real Estate Services represented the seller.

For more information, Emerson can be reached at 520.396.4812 and Feig is at 520.747.4000.

To learn more, see RED Comps #5175 and #5148.

Tucson, AZ – Recent sale transactions for commercial land, and retail properties reported by CBRE, Chapman Lindsey and Realty Executives in Tucson:

CFT NV Development LLC purchased 1.15 acres of land on the northeast corner of Sahuarita Road and Rancho Sahuarita. Jesse Peron and Pete Villaescusa of CBRE represented the buyer. Dave Hammack of the Volk Company represented the seller, Rancho Sahuarita XX LLC, in the transaction. The Purchase price was $950,000 ($19 PSF).  See RED NEWS story Aug. 30^th

L&J Investment III purchased 1.51 acres of land at 2533 & 2549 W. Poppy Avenue in Tucson. Tim Healy and Bob DeLaney of CBRE represented the sellers, Deanna Kilgour and Mark Smith, in the transaction. The purchase price was $200,000 ($3.00 PSF).

Ray Gallegos purchased a 5,156-square-foot retail building at 4756 E Speedway Blvd. in Tucson for $175,000 ($34 PSF) in an all-cash transaction. A former Tattoo Parlor was sold by Commerce Bank of Arizona in an REO sale and will now undergo a complete rehab for approximately $40,000. James Marian, CCIM, of Chapman Lindsey Real Estate Services and Juan Teran, CCIM, with Realty Executives Tucson Elite handled the transaction

C&S Lock and Security purchased a 1,755-square-foot free standing building at 1435 W. Prince Road.  Michael Laatsch of CBRE represented the seller, Dr. Robin O’Neal, in the transaction. The Purchase price was $155,000 ($88 PSF).

To learn more, see RED Comps and to find more properties available see the RED Listing Registry.