Tucson, Arizona – CBRE recently arranged the sale of a 25,350-square-foot office building located at 222 East Fifth Street in Tucson, Ariz. to 222 Tucson LP for $8.95 million ($353 PSF).

CBRE’s Bryce Horner represented the seller, 222 Building LLC of Tucson (Michael Wattis, manager) in the transaction.

The property was originally constructed in 1952 and was redeveloped in 2014 into a three-story, Class A office building. It currently serves as the corporate headquarters for Mister Car Wash (NYSE: MCW), the nation’s largest carwash company, which went public in June. The asset features an outdoor barbecue and patio area, workout room and community kitchen and is located one mile east of Interstate 10 and half of a mile north of downtown Tucson.

“CBRE had the privilege of representing the seller in this transaction, a local Tucson development group,” said CBRE’s Horner. “The property is a trophy asset to its new owner and one of the few true creative office spaces in the fast-growing downtown Tucson area. Leased on a long-term basis to Mister Car Wash, this investment will provide stable income for many years to come.”

Located seven blocks from the University of Arizona, three blocks from downtown Tucson and two blocks from the 4th Avenue light rail system which connects the University with downtown,  Project architect, Rob Paulus, has preserved much of the building character, formerly the Downtown First Baptist Church,  by keeping the old brick facade and architectural features. The building was partially demolished and gutted for a condominium project since 2008, prior to the redevelopment for Mister Car Wash. The property lies within the Downtown Area Infill Incentive District, a compelling location for the tenant looking to attract top, young talent.

The GPLET assignment transferred in the transaction.

To learn more, see RED Comp #9001.

TUCSON, ARIZONA — Galeria del Rio, a premiere townhome rental community in Tucson sold to Utah-based, McDonnell Tudor, LLC for $32.025 million ($317,079 per unit). Setting the highest price per unit this year.

Located along the River Road corridor in northwest Tucson, the property is within easy access to Interstate-10, at 5132 N Prairie Clover Trail in Tucson. The property was completed in December 2014 and was 98% occupied at time of sale. Consisting of 101 units with attached two-car garages in two- three- and four-bedroom floorplans.

The property has 101-separate lots, two common areas and a clubhouse/amenity lot developed with the additional exit strategy of converting the rentals into for-sale townhomes.

Galeria del Rio is state-of-the-art design with 9-foot ceilings, open floor plans, private entries and private backyards with masonry walls. The average three- and four-bedroom units at Galeria del Rio are 1,573-square feet. Each unit includes a two-car garage with remote openers.

Unit interiors feature black kitchen appliances package, granite countertops, breakfast bars, kitchen pantries, elegant wood cabinets and brushed nickel fixtures. Also included in each unit are full sized washer and dryer, larger walk-in closets with carpet and ceramic tile floors throughout.

Community amenities include a beautifully designed neighborhood center with gourmet coffee bar, tenant computer area with scanner, complimentary Wi-Fi hot spot, pool, spa with gas Bar-B-Que, and dog park. Property units are individually metered for electric, water and sewer.

Art and Clint Wadlund with Berkadia of Tucson represented the seller, Capital Square Asset Management of VA.

For more information, Art can be contacted at 520.299.7200 and Clint should be reached at 520.615.1100.

To learn more, see RED Comp #8974.

TUCSON, ARIZONA – The City of Tucson purchased Desert Cove Country Club, a Senior Living Facility at 1833-1835 W. Anklam Road in Tucson for $1.175 million ($90 PSF) using federal pandemic relief funds.

The 13.032-square-feet of mixed-use space in two buildings sits on 4.5-acres. Desert Cove Country Club was formerly a nunnery turned senior living facility, that will soon provide bridge housing for homeless people. The city will partner with Community Bridges to help oversee the program, “Bridge Housing” and is expected to be operational at this site by the end of the year.

The City of Tucson will receive more than $135 million in federal pandemic relief money through the American Rescue Plan. In addition to the money for Tucson, Pima County will receive over $200 million as part of the same program.

Tucson has chosen to set its focus on the need for affordable housing.

According to the Tucson Pima Collaboration to End Homelessness, from 2019 to 2020 there was a 60% increase in unsheltered homeless people in Pima County, going from 218 to 363. There are thousands more homeless who receive some form of shelter from different private organizations.

The goal of the program is to help people move from homelessness to independence over a 90-day period, or until they can find permanent housing. Located on Tucson’s west side, the gated community is near St. Mary’s Hospital and was originally a home for the nuns who worked at St. Mary’s Hospital.

Allan Mendelsberg, Principal, and Conrad Martinez, Multifamily Specialists with Cushman & Wakefield | PICOR represented the seller, 25JAK Properties, LP (Patrick Stojak, manager) in the transaction.

The City was represented in-house by Thomas Crawl, Real Estate, Department of Transportation for the City of Tucson. For additional information, Mendelsberg should be reached at 520.546.2721 or Martinez at 520.546.2730.

To learn more, see RED Comp #8969.