Friday, September 21, 2018

Cali Investor Completes 29 Hotel Portfolio Acquisition

A consortium of private investment groups affiliated with Hall Equities Group of Walnut Creek, CA and Real Estate Investor and Developer Mark Hall have acquired 29 hotels and the corporate assets of Duluth, Minnesota based hotelier ZMC Hotels. ZMC Hotels is a third generation family business previously owned and operated...

Tenet’s Joint Venture Closes on Carondelet Network in Tucson for $105...

SMSJ Tucson Holdings, a new joint venture between Tenet Healthcare, Dignity Health in Arizona and Ascension a faith based healthcare organization, closed on the acquisition of Carondelet Health Network for approximately $105 million. Ascension prior to this owned 100 percent of Carondelet. Tent will be the majority partner in...

Four Tucson Taco Bell Stores Sell to Montana Buyer for $5.04...

California-based, Taco Bell Corporate sold four Tucson stores to a franchisee, CLC Tucson Properties, LLC of Montana (Craig Langel, president) for $5.04 million. The buyer already owned other Taco Bell franchises in Montana. The store locations are as follows: 6616 E Grant Road in Tucson sold for $1.235 million for a...

Former Nimbus Brewery and Restaurant Building Sold for More Than $1.4...

Tucson, Ariz. – CBRE has completed the sale of the former Nimbus Brewery and Restaurant building at 6464 E. Tanque Verde Road in Tucson. The property commanded a sale price of $1.415 million ($168 PSF). Pete Villaescusa and Jesse Peron with CBRE’s Tucson office negotiated on behalf of the seller,...

Three National Restaurant Users Coming to Las Plazas at Old Vail

Tucson, AZ – Las Plazas at Old Vail, a 17-acre retail development at the northwest corner of Houghton and Old Vail Roads in Southeast Tucson, has landed its first wave of restaurant users. CBRE recently completed the sale of the first three lots and the development will soon be...

Tucson Housing Lot Sales Soared in July with 737 Lots Sold

Tucson housing lot sales rose in July, as home sales were up 25% over last year, and sales volume increased by over 28% from 2014. At mid-year, there were reported 14 land transactions totaling over $26 million. In July, there were  11 land transactions totaling $11.6 million, 728 platted...

Bourn brings Second Nordstrom Rack and New Build-to-Suit to Tucson

Seattle-based Nordstrom, Inc. (NYSE: JWN) announced Thursday plans to open Nordstrom Rack at Wilmot Plaza in Tucson, Arizona. The approximately 25,000-square-foot store is scheduled to open in spring 2016. The property is owned by BP Wilmot Plaza LLC, an affiliate of Bourn Companies LLC, a commercial real estate investment,...

Com Land Deals In and Around Tucson

AutoZone Purchases Land at Houghton Town Center AutoZone purchased a .78 acre parcel of land at Houghton Town Center for $700,000 ($20.52 PSF) from Diamond Ventures of Tucson. AutoZone has started construction of the store to be located at 10240 E Old Vail Road, east of Dunkin Donuts. AutoZone has...

Youth on their Own Buys Resale Home Store – Opening September!

Youth On Their Own (YOTO) of Tucson recently purchased the building at 1642 N Alvernon Way in Tucson for $285,000 ($75 PSF). YOTO is a non-profit that provides youth, through no fault of their own, who lack a parent or long-term legal guardian in their lives with a stable...

Four Tucson Retail Properties Sell for a Sum of $13.5 Million

Tractor Supply, Circle K, Kneaders and Family Dollar Sell in Tucson Retail Investment Sales Total $13.5 Million and average 6.4% cap rate The newly constructed Tractor Supply store at 15884 N Oracle Road in Catalina, AZ sold for $5.2 million ($238 PSF). The transaction was a sale-leaseback of the newly...

TUSD Sells Wrightstown School for $1.3 Million

New 56-SFR Lot Subdivision to be Called The School Yard The TUSD Governing Board completed its first school asset sale Tuesday for 9.2 acres at 8950 E Wrightstown Road for $1.3 million ($3.24 PSF). The former Wrightstown Elementary School sold to Pepper Viner Homes of Tucson after one and a...

Old Pueblo Grill Sells for $1.2 Million to Remain a Restaurant

HSL Properties of Tucson (Omar Mireles, vice-president) through an affiliate, HSL 60 N Alvernon, LLC, purchased the former Old Pueblo Grill restaurant at 60 North Alvernon in Tucson for $1.2 million ($147 PSF). The 8,147 square-foot building on 1.72 acres is located northeast of Broadway and Alvernon. The historical building,...
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