TUCSON, ARIZONA – Two LLCs affiliated with the McMillin Companies of El Cajon, California (Corky McMillin, owner) purchased Nine90 and Ten50 Apartment communities for an aggregate of $19.45 million ($101,300 per unit). Berkadia Real Estate in Tucson handled the transaction.

Nine90 Apartments is located at 990 East River Road in Tucson with 72-units and Ten50 Apartments is at 1050 N Camino Seco in Tucson with 120-units.

The seller, Radium Investments V, LLC of Phoenix (James Szymanski, manager) purchased both properties together in 2017. Ten50 had common areas renovated since the purchase, clubhouse, laundry area, and office and Nine90 Apartments had light upgrades made to the interiors of some units. Both communities were built in 1985 and sold in what was described as “a short market time” by brokers and with 98% occupancy.

Both Nine90 and Ten50 offer one- and two-bedroom floorplans with an average unit size of 611-square-feet. Community amenities at both include resort-style swimming pool and spa, community laundry facility, and 24-hour emergency maintenance. Residents of Ten50 are also close to Saguaro High School and Magee Middle School.

Art and Clint Wadlund of Berkadia Real Estate Tucson represented the seller. In fact, this is the third time the Wadlunds have sold these two communities since 2015, each time the price has almost doubled.

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

To learn more, see RED Comps #8148 and #8149.

TUCSON, ARIZONA – OneTen Real Estate Investment Main, LLC  of Tempe (Nico P Fricchione, principal) sold a Filiberto’s Mexican Restaurant at 4110 East 22^nd Street in Tucson for $1.225 million ($453 PSF) in an investment sale.

The 2,702-square-foot restaurant (built 1973) sits on a 15,000-square-foot lot southeast of Alvernon Way and 22^nd Street. It closed on September 21, 2020.

Patrick Luther and Sean Lieb of SRS of San Diego and Phoenix represented the seller. The buyer was Landance, LLC of Phoenix (Carolyn Jean Imbrei, manager).

For more information, Luther can be reached at 949.698.1115 and Lieb is at 602.682.6010.

To learn more, subscribers can see RED Comp #8111.

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A leased fee interest in the land for Dutch Bros at the Bridges sold for $1.38 million or $46 per square-foot. The 30,043-square-foot pad has an 858-square-foot Dutch Bros at 2995 South Kino Parkway in Tucson.

The ground lease sale closed on September 17, 2020.

Chad Russell and Randy Titzck of Land Advisors Organization in Phoenix represented the Canadian–based seller, Fullerton Tucson Kino Parkway. Tony Micich of West USA represented the investor.

For more information, Russell and Titzck can be reached at 602.828.1327 and Micich is at 602.375.3300.

To learn more, subscribers can see RED Comp #8109.

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A 25,017-square-foot pad at 10224 E Old Vail Road, Tucson in the Houghton Town Center, sold for $525,000 ($21 PSF) to OneTen REI Main, LLC (Nico Fricchione, manager). The pad is located next to Jersey Mike’s at the Center and will be used for construction of a 2,400-square-foot Filiberto’s Mexican Restaurant.

The asset sale closed on September 28, 2020.

Shannon Murphy with DVI Realty represented the seller, Houghton Developers, LLC and affiliate of Diamond Ventures and Jeramy Price with Volk Company in Tucson represented the buyer.

For more information, Murphy can be reached at 520.77.0200 and Price should be contacted at 520.441.4771.

To learn more, subscribers can see RED Comp #8128.

TUCSON, Arizona – The following three sales of industrial properties were sold to owner occupants for an aggregate price of $2.263 million ($85 PSF):

Rainforest Plumbing and Air based in Mesa, Arizona is expanding into Tucson. Its owner, Ike Tippetts, bought the industrial building at 2115 E Valencia in Tucson for $1.205 million ($93 PSF).

The 13,000-square-foot building (built 2008) was occupied by three tenants at time of sale and with the buyer occupying the remaining 3,900-square-feet, the property is 100% full. The building is one of four at Valencia Road Condominium, located near the Tucson Airport.

Rainforest Plumbing & Air started in 1999 as a 2-truck operation. President and founder, Ike Tippetts, having graduated with a Masters in Business Administration, found himself answering phones and dispatching around the clock! The commitment was to “do whatever it takes.” Rainforest is best known for its specialized support role for property maintenance supervisors, assisting them whenever needed and taking on specialized projects that may exceed the scope of equipment or capabilities.

Dean Cotlow of Cotlow Company in Tucson represented the seller, Valencia Ventures Group. Tyson Breinholt of Commercial Properties in Tempe represented the buyer.

For additional information contact Cotlow at 520.881.8180 or Breinholt at 602.315.7131.

To learn more, subscribers can access RED Comp #8123.

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Campbell Technologies, LLC of Tucson (Keith Campbell, manager) purchased the industrial property at 2775 East Ganley Road in Tucson for $635,000 ($63.50 PSF). The 10,000-square-foot building was half occupied by Electric Supply at time of sale, a tenant that had been there for 25 years.

Tres Banditos of Tucson (Dean Cotlow, manager) was the seller and developer. It was constructed in 1993. The investor purchased for investment in this all cash transaction.

Dean Cotlow with Cotlow Realty represented the seller in the transaction and the buyer was self-represented.

To learn more, subscribers should see RED Comp #8062.

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The Cooler Guyer bought the industrial building at 912 South Park Avenue in Tucson for $423,000 ($118 PSF) to owner occupy. The 3,600-square-foot building (built 1994) is located in the I-10/Aviation Parkway corridor and sold with 18,000-square-feet of excess land.

The buyer, 912 S Park Ave (Damian Fiorillo, manager) dba The Cooler Guy plans to occupy the existing building and contractor yard and construct an additional 8,000-square-foot building on the adjoining lot for Pima Bear Construction & Maintenance, also owned by Damian Fiorillo.

The seller, Park Avenue Property, LLC of Scottsdale (Jay Strako, manager) bought it in December 2019 and had intended to occupy the property before that changed.

Tony Reed and Kelly Doty with Long Realty represented both the buyer and seller in this sale and the previous one.

“There was a great deal of interest shown in this property,” said Doty. “I could sell another dozen like this right now, if we had the inventory in this size and I-1 zoning.”

For more information, Reed should be reached at 520.918.5189 and Doty can be contacted at 520.603.3491.

To learn more, subscribers should refer to RED Comp #8085 and #7406.