Friday, September 21, 2018

Colonia Verde Shopping Center Sells for $24.5M in Tucson

TUCSON, Arizona– Holliday Fenoglio Fowler, L.P. (HFF) announces the $24.5 million ($248 PSF) sale of and the $17.8 million acquisition financing for Colonia Verde, a 98,937-square-foot, grocery- and pharmacy-anchored neighborhood shopping center in Tucson. The HFF team marketed the property on behalf of the seller, Westwood Financial Corporation of Los...

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...

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...

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,...

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...

California Investors Buy Two Kneaders Bakeries in Tucson for $5.8 Million

Two Kneaders Bakeries at 3550 N Craycroft Road in Tucson and 9660 N Oracle Road in Oro Valley recently sold to California investors shortly after completion. Both were built in 2016 and just recently opened, leased to Kneaders Bakery they sold in triple net investment sales. The Kneaders at 3550...

Sunflower Apartments in Tucson Sell for $6.67 Million

TUCSON, Arizona – The Marcus & Millichap Real Estate Investment Services Team of Hamid Panahi, Steve Gebing and Cliff David closed on the Sunflower Apartments at 6502 E Golf Links Road in Tucson for $6.67 million ($46,300 per unit). The seller of the 144-unit complex was GR Partners Sunflower, an...

The Ledges at West Campus in Tucson Sold for $23 Million

TUCSON, Arizona -- Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) announces the sale of The Ledges at West Campus, a 205-unit apartment property in Tucson, Arizona. The $23 million sales price equates to $112,195 per unit. “Previous ownership improved the presentation of the property and...

Popeye’s Restaurant Joining Tucson Marketplace at the Bridges

TUCSON, Arizona -- Tucson Marketplace at the Bridges is at Kino and I-10 in the southern submarket of Tucson. This 114-acre project anchored by Costco and Walmart will have approximately 1 million-square-feet of shops, pads, entertainment and anchors when fully completed. It has experienced some exceptional growth this past...

Leman Academy Chooses Sorrento Square in East Tucson for Third Site

TUCSON, Arizona – Brand Properties, LLC (Scott Brand) of Salt Lake City, UT bought 12.48 acres at Sorrento Square for $2.1 million ($3.86 PSF) for a new Leman Academy of Excellence Charter School. The tuition-free charter school began as a K-6 school in 2014 and has grown to become a...

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...

Peach Properties Acquires Downtown Tucson Building from Providence Corporation

TUCSON, Arizona -- Ron Schwabe and Marcel Dabdoub have partnered again, this time, to buy 44 East Broadway Blvd. in Tucson for $4,332,990 ($135 PSF) and 30,000-square-feet of parking lots from The Providence Service Corporation of Stamford, CT. Home to Ron Schwabe and Peach Properties’ central office, this large multi-use...
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