Saturday, December 15, 2018

Multifamily Portfolio with 5 Properties in Tucson Sells for $3.724 Million

TUCSON, Arizona – Gould Family Properties VIII, LLC of Tucson (Wayne & Amy Gould managers) purchased 69-units in five separate properties for a combined total of $3.724 Million ($54,000 per unit). The sellers were various limited liability companies managed by James and Joan Johnston of Tucson. The properties included 1620-1650...

KB Home Closed on 60 Lots in Two Infill Projects for...

TUCSON, ARIZONA -- KB Home Tucson purchased 28 platted lots in northwest Tucson for $758,800 ($27,100 per lot) and a second infill project at Irvington and Cardinal 32 platted for 32-lots in West Tucson for $264,000 ($8,250 per lot). The property in the northwest is located south of Orange Grove...

Heslin Holding Continues Tucson Buying Spree with Babies ‘R” Us for...

Commercial Real Estate Firm to Invest $75 Million in Next 12 Months TUCSON, ARIZONA -- Heslin Holdings, Inc. a privately owned commercial real estate investment and development firm, purchased a second big box for redevelopment recently in Tucson. In October, we reported Helsin acquired the 35,000-square-feet former Safeway building at 5548...

Lakeside Business Park Sells Broker to Broker for $3.875 Million

TUCSON, ARIZONA -- Lakeside BP LLC (Gary Emerson, member) purchased Lakeside Business Park at 7941-8051 East Lakeside in Tucson from Tesoro Enterprises, LLC for $3.875 million ($58 PSF). The 66,670-square-foot business park in three buildings is zoned C-2 and was built in 1984 and expanded in 1990 on 4.47 acres. Tenants...

Plaza Encantada Offices Sell to California Investors for $1.275 Million

TUCSON, ARIZONA – Plaza Encantada Office complex at 2802-2810 N Alvernon Way in Tucson sold for $1.275 million ($103 PSF) to a group of California investors, MBLA Tucson, LLC c/o MEI Real Estate Services of Los Angeles. Plaza Encantada, the Enchanted Place, is full of southwestern charm. Located at the...

Holualoa Companies Purchases Gateway Student Housing in Tucson for $12.9 Million

Cushman & Wakefield Negotiates Sale of 188-Unit Student Housing Community PHOENIX, Arizona – Cushman & Wakefield completed the sale of Gateway at Tucson, located at 2800 W. Broadway Blvd. in Tucson. Holualoa Companies of Tucson purchased the property from CW Capital Asset Management LLC of Bethesda, MD for $12.9 million...

Harsh Investment Acquires Another Tucson Industrial Property for $10.5 Million

TUCSON ARIZONA – Harsch Investment Properties, a Portland-based real estate investment, development and management company, continued its aggressive growth in Tucson, Arizona with the purchase of 2201 East Medina Road in Tucson for $10.5 million ($72.50 PSF) from Intercontinental Real Estate Corporation of Boston, MA. The property is 144,900-square-feet and...

The Place at Rock Ridge in Oro Valley Fetches $39.5 Million

TUCSON, Arizona -- Scottsdale-based MC Companies (Ross McCallister, principal), a real estate investment, management, development and construction company sold 319-units at Rock Ridge Apartments at 10333 N Oracle Road in Oro Valley to a private investment group from Newport Beach, CA, Springwood Investors, LLC; its first investment in Tucson. The...

Lennar to Build first 82 Homes in New Entrada Del Rio...

New homes will be the builder’s first in the award-winning master plan TUCSON, Arizona – Rancho Sahuarita has announced that the first homes in its newest neighborhood of Entrada Del Rio will be built by award-winning builder, Lennar Homes. The builder will make its official debut in the community, with...

Country Inn & Suites Tucson Airport Sells for $5.15 Million

TUCSON, ARIZONA – Country Inn & Suites at Tucson Airport sold for $5.15 million ($62,048 per room) to Progressive Hospitality, LLC of Mukiltee, Washington. Located at 6681 South Tucson Blvd. in Tucson, the 26,604-square-foot hotel on 2.21 acres was built in 2000 with 83-rooms. All rooms include: free, hot breakfast,...

CBRE Completes Investment Sale of Dutch Bros Coffee Building in Tucson

TUCSON, Arizona  – CBRE has completed the $2.47 million sale of a single-tenant property leased to Dutch Bros Coffee, located at 120 South Wilmot Road in Tucson, Ariz. The 824-square-foot building is on the southwest corner of Broadway Boulevard and Wilmot Road, which benefits from high traffic counts of...

Stonebriar Closes on Former Fry’s for VASA Fitness in Tucson for...

TUCSON, ARIZONA -- Stonebriar Commercial Finance Realty Capital, dba SCF RC Funding IV LLC, of Princeton, NJ purchased the property at 3920 E Grant Road in Tucson for $4.2 Million ($83 PSF). The 50,688-square-foot former Fry’s store and gas pad on 4.96 acres at the southeast corner of Alvernon and...
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