Sunday, December 16, 2018

Orange Grove Medical Center Sells for $3 Million

Orange Grove Medical Center, a 40,782 total square foot multi-tenant office building, sold for $3 million ($73.56 PSF). The property is located on the southeast corner of Orange Grove Road and La Cholla Boulevard in Tucson. Constructed in 1988, the medical center sits on fee ground at the Northwest...

McCraren Compliance Expands into New Industrial Building

McCraren Compliance (Michael McCraren, member) purchased a 15,186-square-foot industrial building at 3980 E Columbia for $730,000 ($48 PSF). Purchased for business expansion, the company will be relocating from its current location in Tucson that it leased. The company specializes in safety training and consulting for the mining and transportation industries....

Ace Vending Purchases Two Industrial Buildings in Gilbert and Tucson

PHOENIX, AZ – Ace Vending, a full line vending service operator recently purchased two industrial buildings, one in Gilbert and another in Tucson. The company is privately owned and provides full service coffee, fresh food, snacks and beverage vending throughout the entire United States. Ace Vending was founded in 1998...

Aztera creates 30,000 SF ‘Hub of Innovation’ in Central Tucson

Aztera Properties, LLC (Manny Teran, manager) purchased an approximately 30,000-square-foot office/manufacturing facility in two buildings at 1120-1140 N Anita Avenue in Tucson for $1.25 million ($42 PSF). The property is at I-10 and Speedway Boulevard in Central Tucson and formerly occupied by Victory Motorcycles. Technology innovation is the driving force...

Larsen Baker Acquires Multi-Tenant Flex Building for $7.4 Million

Larsen Baker of Tucson (George Larsen and Don Baker, members) has acquired the industrial flex office building at 4755 – 4775 S Butterfield Drive in Tucson for $7.4 million ($77 PSF). The 93,913-square-foot building (built 1986) is located on 7.6 acres in the Class A industrial park, Butterfield Business Center. A...

Cali Buyers Pay $1.69 Million for Desert Atrium Apartments in Tucson

Nexpa Properties of Sausalito, CA (Kelsey and Jordan Gootnick members) purchased the Desert Atrium Apartments at 8750 E Cooper Street in Tucson for $1.69 million ($45,676 per unit). Desert Atrium was built in 1972 and consists of a single two-story, garden-style apartment building situated on a 1.31 acre lot. The...

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...
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