Monday, February 18, 2019

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...

Tucson-Based Mister Car Wash Continues Expansion in 21 States

TUCSON, Arizona – Tucson-based Mister Car Wash continues to expand, now with 266 car washes it operates in 21 states. Prior to this year the company had grown through acquisitions and recently opened two new locations built and developed by and for Mister Car Wash in Iowa and Utah. The...

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...

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...

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...

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...

DR Horton Acquires New Platted Subdivision in Southern Submarket of Tucson

TUCSON. ARIZONA – D.R. Horton (Brent Davis, Division President) purchased 39 acres at 5975 S Tucson Blvd. in Tucson for $2.184 million ($21,204 per lot).  The property is platted for 103 homesites known as Tres Pueblos Este and is ready for development. Located at the northwest corner of Tucson Blvd....

Houghton Town Center Ends Year with Investment Sale and New Surf...

TUCSON, ARIZONA – Houghton Town Center is a highly successful 60-acre community center located on Houghton Road north of I-10 and serving Rita Ranch, Vail and southeast Tucson.  Anchors include Walmart, Discount Tire, TJ Maxx, AutoZone, Petco, Brake Masters, Nationwide Vision, SuperCuts and Ross Dress For Less joined by...

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...

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....
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