Tuesday, July 16, 2019

ABI Handles Condo Sale at The Greens for $4.99 Million

TUCSON, Arizona -- Long Beach, California investors, HSG Tucson, LLC (Scott Hamilton, manager) bought 54 condos at The Greens at Ventana Canyon, 5800 N Kolb Road in Tucson. Built in 1986 for apartments, and condominium converted in 2006, this class A property has 265 total units. The 54 condos...

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...

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...

Berkadia Handles Two Tucson Multifamily Sales Worth Nearly $49 Million

TUCSON, ARIZONA -- Berkadia has completed the $27.9 million ($109,645 per unit) sale of Dorinda Vista, a multifamily property at 7576 and 7596 North Mona Lisa Road in Tucson. Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of the Tucson Berkadia office completed the sale on behalf...

Sprint Store on Valencia Road Sells in Investment Deal for $1.455...

TUCSON, ARIZONA – Local investor, RJK PI, LLC (Robert Kivel, manager) purchased the Sprint Building at 1840 West Valencia Road in Tucson for $1.455 million ($485 PSF). The property was occupied by Sprint in a triple net long term lease and sold in an investment sale. Build in 2001, 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...

Escalante Adds The Gallery Golf Club at Dove Mountain to Portfolio

TUCSON, Arizona – The Texas-based company Escalante Golf recently acquired its second Arizona property, The Gallery Golf Club for $7.1 million. The 36-hole Gallery has hosted a number of high profile events including the Tucson Open, the Accenture World Match Play Championship, and numerous amateur and college events. Located...

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,...

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...

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 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...

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...
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