Saturday, April 20, 2019

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...

O’Reilly Auto Coming to New Retail Project at Ajo and Kinney...

TUCSON, ARIZONA -- O’Reilly Auto Enterprises, LLC purchased a 42,154-square-foot lot near the southeast corner of Ajo Way and Kinney Road.  The seller was SEC Ajo & Kinney LLC, an affiliate of Glenwood Development of Mesa. The land sold for $750,000 ($17.79 PSF) and will be used to construct a 6,300-square-foot...

Rancho Sahuarita – Making New Home Building Great Again

SAHUARITA, ARIZONA – Richmond American Homes recently bought 71 finished lots at Entrada La Villita, the newest community in Rancho Sahuarita Master-Planned Community, for $3.266 million ($46,000 per lot) from Rancho Sahuarita VIII, an affiliate of Sharpe & Associates (Robert Sharpe, president). Ted Herman with Sharpe & Associates, who represented...

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...

Larsen Baker acquires Gallery Row for Office Redevelopment

Tucson, Arizona – Tucson-based Larsen Baker, through its affiliate Gallery Row Group, LLC, has acquired Gallery Row, a 22,500-square-foot commercial property at the northeast corner of Skyline Drive and Campbell Avenue. Larsen Baker will reposition the former retail property into high end office space. The center will be renamed...

Plaza Encantada Offices Sell to California Investors for $1.275 Million

TUCSON, ARIZONA – Plaza Encantada Office complex at 2802-2810 N Alvernon Way in Tucson sold for $1.275 million ($103 PSF) to a group of California investors, MBLA Tucson, LLC c/o MEI Real Estate Services of Los Angeles. Plaza Encantada, the Enchanted Place, is full of southwestern charm. Located at the...

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...

Larsen Baker Buys Tucson Building for New Neighbors Emergency Center

TUCSON, Arizona -- Larsen Baker of Tucson (George Larsen, principal) purchased a 6,894-square-foot retail building located at 7285 E. Tanque Verde Rd. in Tucson, from The Price Group, LLC for $1.194 million ($173 PSF). The property was formerly a personal training / fitness center, most recently doing business as Marcel’s...

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...

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...

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...

US Homebuilders Turn Increasingly Optimistic

The National Association of Home Builders/Wells Fargo builder sentiment index released Thursday reached its highest point in 11 years. The index climbed seven points for December to a reading of 70. Any figure above 50 indicates that builders view sales conditions as positive. The index last reached 70 in...
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