Monday, December 11, 2017

TUSD Sells Townsend Middle School to Pima Medical Institute for $5.63...

TUCSON, Arizona -- The Tucson Unified School District (TUSD) 2015 approved sale of Townsend Middle School closed this week at 2120 N Beverly Ave. in Tucson to Pima Medical Institute (PMI) for $5.63 million.  The site will be developed into a medical educational campus with a mix of medical...

The Ledges at West Campus in Tucson Sold for $23 Million

TUCSON, Arizona -- Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) announces the sale of The Ledges at West Campus, a 205-unit apartment property in Tucson, Arizona. The $23 million sales price equates to $112,195 per unit. “Previous ownership improved the presentation of the property and...

Twin Peaks Retail Property in Marana Sells for $5.12 Million

Marana, Arizona -- 7455-7475 W Twin Peaks Road in Marana sold to John Kai, Jr., LLC for $5.12 million ($275 PSF). This is the second purchase at Twin Peaks Plaza for the investor. Earlier this year, 7555 W. Twin Peaks Rd, an 8,540-square-foot retail pad building, was purchased for $2 million...

Sahuarita Plaza Sells for $14.8 Million

Sahuarita, Arizona – The Sahuarita Plaza Shopping Center at 18705-18806 South I-19 Frontage Road in Sahuarita sold for $14,760,492 ($106.47 PSF). The seller, Cole Valley Partners (Zach Bonsell, managing partner) acquired the Sahuarita Power Center located at the I-19 and Duval Mine Rd Interchange in December, 2014. Dollar Tree was...

Dollar General Stores Sell in Two Separate Transactions for $3.5 Million

TUCSON, Arizona – DCM Development Company of Tucson (Chris Lechner, managing member) sold the newly constructed Dollar General store serving Picture Rock area at 6780 N Sandario Road in Tucson for just under $1.75 million ($194 PSF). The 9,000-square-foot Dollar General store with 54,450-square-feet of land opened in October and...

Colonia Verde Shopping Center Sells for $24.5M in Tucson

TUCSON, Arizona– Holliday Fenoglio Fowler, L.P. (HFF) announces the $24.5 million ($248 PSF) sale of and the $17.8 million acquisition financing for Colonia Verde, a 98,937-square-foot, grocery- and pharmacy-anchored neighborhood shopping center in Tucson. The HFF team marketed the property on behalf of the seller, Westwood Financial Corporation of Los...

Cali Investor Buys Desert Palms Apts in Tucson for $3.1 Million

TUCSON, Arizona – Marcus & Millichap handled the purchase by a private investor from Glendale, Calif of  Desert Palms Apartments at 3125 N Alvernon Way in Tucson for $3.1 million ($45,588 per unit). Built in 1983, Desert Palms is a 2-story, 68-unit Apartment Community located on Alvernon Way near Ft....

Recent Residential Development Sales in Metro Tucson Total $6.27 Million

Meritage Homes of Arizona purchased 26.72 acres block platted land at Silverhawke North subdivision in Oro Valley, in the northwest submarket of Tucson, for $3,489,575. Zoning for the block is R1-7 but the number of lots was undetermined. The seller, Capri Company of Tucson (Herb Kai, manager) was represented...

Pioneer Title Agency Buys Tucson Building for $1+ million

TUCSON, ARIZONA -- Keith Newlon of Pioneer Title Agency purchased a 5,940-square-foot office property at 1889 N. Kolb Road in Tucson for $1,069,200 ($180 PSF) for its newest Tucson location. Built in 2003, the building is located in La Playa Caliente Office Park. Pioneer Title Agency is a full-service company...

ABI Brokers $1.85M Apartment Sale Near Downtown Tucson/UA

TUCSON, Arizona -- ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $1.85 million / $57,813 per unit sale of the 32-Unit Villa Delano Apartments at 123 West Delano Street in Tucson, AZ. The property is a garden style apartment community originally...

Bourn Buys Tucson Land for Future Office Development at 29th &...

TUCSON, Arizona – BP Swan Investors, LLC (Don Bourn, manager) and Maizlish College Partners GLS, LLC (Toufic Abi-Aad, member), affiliates of Bourn Companies, purchased property at 4710 E 29th Street and 2021 S Swan Road in Tucson for $1.6 million ($1.31 PSF). The 27.7763 acres sold with 115,245-square-feet of buildings...

Lennar Joins Meritage and Richmond at La Estancia in Tucson

TUCSON, Arizona – SBH La Estancia, an affiliate of Sunbelt Holdings, the developer of La Estancia has sold 350 lots in 2017 with Meritage, Richmond and now Lennar Homes there. La Estancia has sold more lots than any master planned community in metro Tucson, making it the best performing...
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