Wednesday, November 22, 2017

Berkadia Completes $43 Million Sale of Tucson Multifamily Property

TUCSON, ARIZONA -- Coronado Villas, at 9225 East Tanque Verde Road, a 432-unit multifamily property in Tucson, Arizona has sold. Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of the Tucson Berkadia office completed the $43 million sale at a price-per-unit of $99,537. The seller was Prime Residential,...

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...

Homebuilders’ Optimism Bodes Well for Tucson Q4

If the number of lots being bought by homebuilders is any indication, homebuilders’ optimism bodes well for Tucson in Q4. During the last quarter 2016 over 720-lots have sold to-date. That’s an increase of over 200% from Q3 and a 28% increase over Q4 2015. The National builder sentiment index...

California Investor Buys 3 Mobile Home Communities in Tucson for 7.35...

A California investor, Wayne Comfort, has invested in three mobile home communities in Central Tucson for an aggregate total of $7.35 million. The Lamplighter Mobile Home Park at 3431 N Flowing Wells Road in Tucson sold for $2.4 million ($35,820 per space). The 67-site park is a three-star, all age...

Thornydale Plaza in Marana sells for $1.97 Million

TUCSON, Arizona -- The former Canyon Community Bank Plaza, now Thornydale Plaza, at 6811 N Thornydale Road in Marana sold for $1.97 million ($237 PSF) to a Tempe-based, private investor, Thornydale Plaza, LLC. Dave Carroll of Romano Real Estate in Tucson handled the transaction for buyer and seller, Canyon Community...

Investment Group Trades Tucson Office Complexes

TUCSON, Arizona -- EJC Properties LLC and 18 Central LLC of Tucson, investment groups formed by Eddy Chernecki, recently sold Pima Professional Plaza at 5700 E Pima Street in Tucson for $2.165 million ($108 PSF). The medical offices in a campus-style setting were built in 1978, and have nine office...

Family Medicine Practice Buys Cresta Loma Corporate Condo in Tucson

TUCSON, Arizona -- Full Spectrum Healthcare, LLC of Tucson (Dr. Amanda Rose Marquis, member) has purchased a 1,158-square-foot office condominium at 5431 N. Oracle Road, Suite #151 in Tucson from BP Cresta Loma Managers, LLC of Tucson (Don Bourn, member) for $121,500 ($105 PSF). Built in 2007, this office condominium...

E-Konomy Pool Services in Tucson Exercises Lease Purchase for $2.1 Million

TUCSON, AZ -- DeCook Properties (William De Cook, manager) dba E-Konomy Pool Service & Supplies purchased the building at 6020 East Speedway Blvd. in Tucson for $2.1 million ($146 PSF). The buyer has been a tenant at the 14,369-square-foot building on 4.2 acres since February 2015, and exercised a...

Realty Executives’ Tucson Associate Negotiates $1.15+ Million in Two Transactions

TUCSON, Arizona -- James P. Robertson Jr., CCIM, Senior Commercial Associate Broker with Realty Executives Tucson Elite, announced the closing of two commercial transactions in Tucson, one a multifamily and the other for an automotive center. Robertson assisted the seller, Frank and Florence Cotta in the sale of Coventry Manor...

Winning Tucson land bid: $330 PSF to Sterling University Housing at...

TUCSON, Arizona -- The Dinerstein Companies (TDC) purchased a 30,950-square-foot lot for the latest student housing project at the University of Arizona. The property commanded a sale price of $10.2 million ($329.56 PSF) with 26 bidders competing for the site. Sterling University Housing is a wholly owned subsidiary of TDC,...

Tucson Student Housing Near UA Closes at $2.7 Million

TUCSON. Arizona  – Located less than one half mile south of The University of Arizona Campus, Cherry Park Studios student housing complex closed for $2.695 million ($165.32 PSF / $158,500 per unit). Cherry Park Studios consists of 17 student housing apartments. The property was originally built in 1952, then expanded...

Former MIKID Corporate Headquarters in Phoenix Closes Escrow

PHOENIX, AZ – ORION Investment Real Estate is proud to announce the sale of the former MIKID Corporate HQ for $535,000 ($101/SF). This single user office is located along Thomas Road near 24th Street. Surrounding the property is Phoenix Children's Hospital, Phoenix Country Club, Camelback Esplanade, Biltmore Fashion Park...
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