Saturday, April 20, 2019

Demand Grows for Better Infill Sites in Tucson

KB Homes has New Infill Subdivision in Northwest TUCSON, Arizona -- KB Home closed on a 17+ acres for a new infill project at the southwest corner of La Cholla and Corral Ridge Loop in Northwest Tucson near OMNI Tucson National Golf Resort. The property commanded a sale price...

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...

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...

Charlie’s Comic Books Grand Reopening Feb. 1st with Thousands of 25¢...

TUCSON, Arizona -- There will be thousands of comics available for only TWENTY-FIVE CENTS EACH for TEN DAYS starting February 1st, to commemorate the GRAND REOPENING of Charlie’s Comic Books in its new location at 1421 S. Kolb Road, Tucson, AZ 85710. Charlie’s Comic Books will relocate from 5460 East...

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...

The Retreat at Tucson Sold for $56.2 Million

TUCSON, Arizona -- Alden Street Capital Management (Greg Olbrys and Jonathan Krasner, principals) has acquired The Retreat at Tucson, a 183-unit student housing community with 774-beds, serving the University of Arizona in Tucson. The seller was an affiliate of Chicago-based Heitman Capital Management, Tucson Real Estate Holdings, LLC. Located at...

Long Realty Sells Titan II Missile Bunker in Marana for $1.5...

TUCSON, Arizona -- What was once one of America's most top secret places is now Acacia Nursery at 8080 West Tangerine Road in Marana. GreyWolfe Investments of Gilbert bought the 10-acre site for $1.5 million ($150,000 per acre). Divided into two parcels, five acres holds Acacia Nursery business and...

Tractor Supply Center to be joined by Goodwill Store at Midvale...

TUCSON, ARIZONA –  Earlier this year, Tucson South Development Group LLC, an affiliate of Long Development Corporation (David Long, president) purchased 5.34-acres south of the southeast corner of Indian Agency Rd and Valencia Rd in the Midvale Park Shopping Center in Tucson, Arizona to split into two lots. The construction...

Denny’s America’s Diner Coming to Houghton Town Center

TUCSON, Arizona – Feast Properties, LLC of Murrieta, California, the construction arm for Denny’s Restaurants, purchased a pad at Houghton Town Center for $575,000 ($20 PSF). Ready for construction, Vail should have its first Denny’s sometime next year right along with the McDonalds that has started construction at Houghton...

Government Leased Building Sells for $10 Million in Tucson

TUCSON, ARIZONA – Chicago-based, Boyd Watterson Asset Management affiliate, Boyd State Tucson, LLC (Kristen Frank, VP Asset Management) bought the building at 2255 West Ina Road in Tucson for $10 million ($216 PSF) in an all-cash transaction. The 3-story, 46,094-square-foot, high profile building was fully leased to government agencies at...

Marana El Pollo Loco Investment Sale Concluded for $2.56 Million

TUCSON, Arizona - El Pollo Loco at 3781 W Ina Road sold for $2.56 million ($771 PSF) in an investment sale. The former Burger King restaurant site was sold and converted by WKS Restaurant Group (Roland Spongberg, CEO) in 2015 to El Pollo Loco. Headquartered in Lakewood, California, WKS Restaurant...

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...
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