Friday, September 21, 2018

David Lee Completes Retail Sales Worth $1.93 Million in Tucson

TUCSON, Arizona – Marlee Saguaro, LLC of Tucson (David Lee, manager) purchased a 5,215-square-foot free standing restaurant at 4499 W. Ina Road in Marana AZ for $680,000 ($130 PSF). The former Chuy’s Mesquite Broiler was vacant at time of sale on a 52,042-square-foot pad. The buyer owns an adjacent 35,000-square-foot...

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...

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...

$70.2 Million Southern Arizona Multifamily Portfolio Sold by IPA

TUCSON, Arizona – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) announces the sale of a three-property, 812-unit portfolio of multifamily assets in Southern Arizona. The portfolio sold for $70,225,000, or $86,484 per unit. Bascom Arizona Ventures acquired the three apartment communities located in Tucson &...

Colliers Completes Sale of Two Apartment Communities in Tucson for $6.1...

Georgetown and Park Village Communities Sold for $6.1+ Million Phoenix, Arizona – Colliers International in Greater Phoenix has sold two different apartment communities in Tucson for a total sales price of $6,149,000 ($39,417 per unit) .  The developments contain a combined 156 apartment units and were sold to separate California-based...

Chapman and Partners Purchase Pima Street Office Project

TUCSON, Arizona – Lillestrom II, LLC of Tucson (Swain Chapman, Managing Member) purchased the multitenant office building at 5920 & 5930 East Pima Street in Tucson for $1.8 million ($87 PSF). The 20,140-square-foot office complex was built in two phases, 1986 and 2002, on 1.67 acres and features covered parking...

Tucson Fiesta Shopping Center Sells for $12.3 Million in Off-Market Deal

TUCSON, ARIZONA – Tucson Fiesta retail center at 4215 – 4265 N Oracle Road in Tucson sold for $12.3 million in an off-market transaction to EVT Tucson Fiesta, LLC of Phoenix (Jason Eisenberg, manager) from Tucson Fiesta, LLC of Los Altos, CA (Troy Detrick, manager) This 93,452-square-foot center was built...

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...

Marcus & Millichap Complete Three Multifamily Sales for $9.63 Million in...

TUCSON, ARIZONA – Tucson’s Marcus & Millichap Multi Housing Team of Hamid Panahi and James Crawley closed on three apartment complexes in Tucson recently at an aggregate  of $9.63 million for 139-units. Phoenix investors, Bakerson, LLC and Dene Bleeker, purchased the value-add Tuscany Apartment Homes at 4399 E Pima Street...

Legacy Property Management Trades Two Investment Properties in Tucson

TUCSON, ARIZONA -- California investor, Legacy Property Management, LLC traded into a property at 155 North Rosemont Blvd. in Tucson for $10.25 million ($207 PSF). The approximate 50,000-square-feet Class A, two-story building was built in 1998 to AOL's, state-of-the-art specifications as a call center and renovated in 2015. Located north...

Final 21 P&E Lots at La Canada Ridge in Oro Valley...

ORO VALLEY, ARIZONA -- Insight Homes of Tucson (Mike Jones, manager) purchased the final 21-SFR lots at La Canada Ridge for $2.3 million ($107,391 per lot). The lots were platted and engineered and buyer exercised an option that began in 2015 from Sharpe & Associates of Tucson (Bob Sharpe,...

Transactions Goal On-Track for 2017 for C&W Picor Multifamily Team

TUCSON, Arizona -- The Multifamily team of Allan Mendelsberg and Daniel Leibsohn, with Cushman & Wakefield | PICOR of Tucson, is expecting to close 40 multifamily transactions this year, and are well on their way to achieving this goal. Demand is high and volume is strong for multifamily, with the...
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