Sunday, June 24, 2018

Investment Sale of Pad at Target Center Tucson Sells for $3.9...

TUCSON, Arizona – An affiliate of Bourn Companies (Don Bourn) of Tucson, BP Grant Pad Investors, sold the retail shops at 6572 E Grant Road in Tucson sold in as an investment asset for $3,894,400 ($518 PSF). Located at the Target Shopping center at Grant and Tanque Verde, the...

Leman Academy Chooses Sorrento Square in East Tucson for Third Site

TUCSON, Arizona – Brand Properties, LLC (Scott Brand) of Salt Lake City, UT bought 12.48 acres at Sorrento Square for $2.1 million ($3.86 PSF) for a new Leman Academy of Excellence Charter School. The tuition-free charter school began as a K-6 school in 2014 and has grown to become a...

VEREIT Buys Retail Pad at Houghton Town Center for $10.9 Million

TUCSON, Arizona -- VEREIT, Inc. (NYSE:VER) (Glenn Rufrano, Chief Executive Officer), a real estate investment trust (REIT), purchased a 56,000-square-foot retail pad at Houghton Town Center in Tucson, Arizona for $10.9 million ($195 PSF). The building, located to the east of Super Walmart, was built for and fully occupied by...

Volk Company Handles Sale of Alvernon Way Property in Tucson

TUCSON, ARIZONA -- Rick Borane of Volk Company in Tucson represented Panthera Pavilion, LLC (Stephen Grimm, manager) in its purchase of the 8,055-square-foot building and 14,425-square-feet of land at 1030 North Alvernon Way in Tucson for $700,000 ($87 PSF). The property was fully leased to the UA Department of Family...

Sprint Store on Valencia Road Sells in Investment Deal for $1.455...

TUCSON, ARIZONA – Local investor, RJK PI, LLC (Robert Kivel, manager) purchased the Sprint Building at 1840 West Valencia Road in Tucson for $1.455 million ($485 PSF). The property was occupied by Sprint in a triple net long term lease and sold in an investment sale. Build in 2001, the...

Northwest Fire District Expanding in High Growth Northwest Tucson

Marana, Arizona – Northwest Fire District (NWFD) knowing time is of the essence in an emergency has purchased two new sites for stations: a 2.76-acre parcel in Dove Mountain for $735,781 ($6.12 PSF) and a 1.48-acre lot at Gladden Farms for $400,00 ($6.20 PSF) both in Marana, Arizona. “Northwest Fire...

Office Building in Palisades Corporate Plaza sells for $4.5 Million

Oro Valley, Arizona -- Vast Commercial Real Estate Solutions (Vast CRE) brokered the sale of a Class A corporate building at 8950 N Oracle Road, Oro Valley, AZ 85704. Located along the high-traffic Oracle Road corridor in the Palisades Corporate Plaza, the 41,134-square-foot space sold for $4.5 million ($109.40...

Vail Area in Tucson seeing Record High Housing Demand

TUCSON (VAIL), ARIZONA -- Lennar Homes bought 160 lots at Rincon Knolls in Vail, Arizona before the end of year for $3,024,125 ($18,900 per lot) The platted and fully engineered lots were sold by TTLC Rincon Knolls, LLC an affiliate of The True Life Companies-(Aidan Barry, Senior VP) in this...

Tucson Restaurant, Vacant building, and Leased parking space on Speedway Blvd....

TUCSON, ARIZONA – Vice President David Blanchette, CCIM, of the NAI Horizon Tucson office, negotiated the $1.115 million ($247.50 PSF) acquisition of a restaurant, vacant building, and leased parking space at 2902-2952 E. Speedway Blvd., in Tucson. The freestanding retail building at 2902 E. Speedway is centrally located west of...

Rancho Sahuarita – Making New Home Building Great Again

SAHUARITA, ARIZONA – Richmond American Homes recently bought 71 finished lots at Entrada La Villita, the newest community in Rancho Sahuarita Master-Planned Community, for $3.266 million ($46,000 per lot) from Rancho Sahuarita VIII, an affiliate of Sharpe & Associates (Robert Sharpe, president). Ted Herman with Sharpe & Associates, who represented...

CPM LABFAB Buys 5-acres in Marana to Relocate Headquarters

MARANA, ARIZONA – CPM LABFAB, Inc. (Kim & Kerry Bergman, principals) purchased 5-acres of HI zoned land at 7979 W Tangerine Road in Marana for construction of a new manufacturing facility. LABFAB fabricates standard and custom modular laboratories for general chemistry, vivarium or BSL use. Virtually any size requirement...

Avilla Marana I & II Sell for $45.44 Million

TUCSON, Ariz. –  Two multifamily properties, Avilla Marana I and Avilla Marana II, totaling 284-units sold for $45.44 million ($160,000 per unit). The multifamily properties are located at 4050 and 4115 West Aerie Drive in Marana, AZ. Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of Berkadia Real...
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