New animal hospital keeps people with their pets

TUCSON, AZ (August 23, 2024) — A new 24/7 veterinary emergency room at 7080 N Oracle Rd, Tucson, that allows pet owners to stay with their dogs, cats, birds, and other beloved animals through all stages of treatment, including surgery and overnight hospitalization has sold as a net-leased sale. The asset sold for $4,367,414 ($691.70 PSF) in a sale-leaseback.

VEG purchased the 6,314-square-foot former Wells Fargo bank branch in November 2022 for $2,550,000 for conversion.

Veterinary Emergency Group (VEG) provides families in Tucson and neighboring cities with 24/7 emergency care in veterinary medicine, including surgeries, ultrasounds, x-rays, and more.

This is the third VEG hospital in Arizona, and the other two are in Phoenix and Chandler.

Licensed veterinarians will always be available for pet emergencies, even on holidays, and answer the phones to respond to medical questions.

The facility also immediately begins to care for pets when they come in the door instead of after their owners fill out paperwork.

The company also gives back to the community through VEG Cares, an initiative benefiting “underserved pets in crisis,” and supports future emergency veterinarians by granting student scholarships.

Bob Moorhead and Matthew Scow of Secure Net Lease represented the seller, VRE Oracle, LLC – Texas of Grapevine, TX. The seller, a Dallas-based investor, was self-represented.

For more information, Moorhead can be reached at 214.522.7210 and Scow is at 214.915.8888.

To learn more, see RED Comp #11416.

SAHUARITA, AZ (August 22, 2024)—Entrada Del Toro neighborhood in Rancho Sahuarita, broke ground for its first home builder, KB Home. When complete, Entrada Del Toro will have 1,000 homesites.

KB Home bought the first 93 lots, with a finished lot price of $5,766,000 ($62,000 per lot) for the 40’x120’ lots.

Other homebuilders at Rancho Sahuarita include Meritage, Lennar, Centex, and Richmond American.

The Rancho Sahuarita Master Planned Community has a 10-acre lake, amphitheater, recreation center, parks, mature tree-lined streets, fitness center, pool, splash pad, and basketball courts. With convenient access to I-10 and I-19 and 25 minutes to downtown Tucson, it is a short drive to Tucson Spectrum for shopping and dining. Less than 10 minutes to Sahuarita schools. Near major employment centers, including Northwest Medical Center Sahuarita and Freeport-McMoran.

Jeremy Sharpe, Managing Partner of Rancho Sahuarita, recently wrote in Trend Report that he was bullish on housing this year. The following are some of his insights:

“First, it’s simply supply and demand. Even with Southern Arizona’s modest growth, there is not enough new housing production to meet demand as resale inventory continues to be limited. As Will White of Land Advisors recently shared, “The lot supply shortage in Tucson is now at a crisis level and is the main component affecting affordability. This situation took 13 years to create and will take a long time to solve.”

“Second, there is a huge focus on attainable housing in the region, as the lack of supply has increased demand and development costs have risen simultaneously. Many local municipalities, like the Town of Sahuarita, are actively engaging the building industry to improve processes and collaborate to meet those calls.”

“Over the next decade, the region’s biggest challenge is our regional infrastructure—roads, sewers, and water. The past adage, “Growth will pay for itself,” no longer applies without planning and public financing. In 2014, the Rancho Sahuarita Community Facilities District was formed to pay for public infrastructure in our master-planned community—one of three in the region.”

“A CFD is a public financing tool in which bonds are sold to provide funding for the infrastructure, and then the future residents pay for the infrastructure over time through tax. Our most recent bond offering enables the development of offsite infrastructure for nearly 1,000 lots currently under construction. The structure allows us to move more swiftly to meet market needs and ultimately decreases the cost of the home. Without the CFD, these costs would be found in the price of the house, most likely making it unattainable for most homebuyers. I’m optimistic more municipalities will recognize the need for public financing options for large-scale infrastructure needs to encourage growth and affordable housing,” Sharpe concluded.

Diana Dessy, CCIM, Director of Land Assets for Rancho Sahuarita, handled the transaction with KB Home.

Dessy can be reached at 520.299.8766 for more information.

To learn more, see RED Comp #11410.

PHOTO: Rancho Sahuarita’s next 1,000 lots in Region 9, Entrada Del Toro.

TUCSON, AZ (August 16, 2024) — Jeramy Price of VOLK Company handled the sale of the former Washington Federal Bank at 1315 W Prince Road between Grant Wash LLC (Jeramy Price, Manager) and Ypon Rentals LLC for $600,000 ($224.72 PSF).

The property consists of an approximately 23,160-square-foot parcel with 2,670 square feet of building improvements that will be used for Tucson Awning & Screen, currently located at 1065 W Miracle Mile Rd in Tucson. Founded in 1971, Tucson Awning & Screen has established itself as a leading provider of custom residential and commercial awnings and screens. More than 48 years later, Tucson Awning and Screen continues the journey to excellence in workmanship and customer satisfaction.

In a prior transaction, Hank Amos of Tucson Realty & Trust Company represented Washington Federal Bank in the sale to Grant Wash, LLC.

For more information, Tucson Awning & Screen can be reached at 520-623-3984, and Price can be contacted at 520.441.4771.

To learn more, see RED Comp #11431