TUCSON, ARIZONA, (October 25, 2024) — WAA Stone Canyon, LLC (April Worden, CEO) closed on +/-70 Acres of mixed-use residential/resort land in Stone Canyon for $5,450,000. The parcel is strategically located along Tortolita Mountain Circle Road in the center of the project. The land will be held for investment.

Brown Worden Properties is the largest family-owned, woman-led self-storage owner in the Tucson metro market under the A Family Storage brand. The company is also involved in several mixed-use commercial, industrial, and multi-family developments in multiple markets. This purchase is the most recent in a series of strategic land investments in Tucson by Brown Worden over the past 36 months.

The property is part of the private, 1,400-acre Stone Canyon MPC and is located within the Rancho Vistoso community northwest of Tucson. The project is home to world-class golf and fitness facilities complemented by an array of Tucson’s highest-end custom and semi-custom homes.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and will continue to manage the marketing assignment for the parcel.

White commented, “This is a fantastic property that fits the acquisition strategy very well. Properties like this are extremely rare in Tucson and Brown Worden is excellent at identifying them and executing/operating at a high level.”

For more information, White and Carroll should be reached at 520.514.7454.

Subscribers can learn more by referencing RED Comp #11532.

Tucson, AZ (October 22, 2024) — El Rio Health, Meridian, and Tenet Healthcare have reached an agreement for El Rio Health to acquire the former Tucson Heart Hospital, 4888 N. Stone, Tucson, Arizona. The sale of the vacant 94,569-square-foot medical building located on a 9.27-acre parcel was recorded for $8,050,000  ($85 PSF). The former inpatient hospital, which has been vacant for 15 years, will be converted into a state-of-the-art health center, fully designed to meet El Rio Health’s service line needs.

Richard M. Kleiner, Principal, Commercial Properties, Cushman & Wakefield | PICOR, represented Meridian’s purchase and El Rio’s lease. Kleiner initiated collaboration between El Rio Health and Meridian, leading to negotiating a deal structure that provided El Rio Health with a flexible option to own the medical facility at a favorable purchase price and ensured a turnkey construction solution.

El Rio Health is a Federally Qualified Health Center (FQHC) that has provided comprehensive, accessible, and affordable healthcare to the Tucson community for 54 years. Meridian is a full-service real estate developer and owner of medical real estate.

Construction will begin later this month, with completion anticipated in early 2026. Building improvements will provide El Rio Health with a modern, functional, and patient-centric environment that enhances care delivery and operational efficiency. The interior will be completely demolished and rebuilt, allowing for an entirely new code-compliant, energy-efficient facility to maximize patient experience and throughput. The outdated central utility plant will be replaced with new systems tailored to El Rio Health’s needs. The building will also feature a new roof, heating, cooling, fire sprinkler systems, new water-efficient landscaping, and a new parking lot.

“El Rio Health was looking for a strategic solution to address the growing demand for primary healthcare services in Tucson,” said Sheila Schmidt-Turkington, Managing Director of Strategy and Development at Meridian. “We were thrilled to work with El Rio leadership and their broker, Rick Kleiner, Principal, Cushman & Wakefield | PICOR, to identify a location that was already entitled for medical use for speed to market. This location is strategically positioned to increase access to care for El Rio Health’s patient base.”

Schmidt-Turkington added, “Early collaboration with El Rio Health and Cushman & Wakefield | PICOR enabled Meridian to negotiate a favorable purchase price and ensure a turnkey construction solution. The deal structure provides a flexible option for El Rio Health to own the real estate, granting them financial flexibility customized to meet their needs. This approach mitigated capital constraints while positioning El Rio Health for further growth in Tucson. It’s truly an honor to help El Rio Health realize its ambulatory goals. El Rio provides care to 1 in 9 people in Tucson.”

“El Rio Health is a trusted healthcare provider in Tucson,” said Meridian CEO, Mike Conn. “They have served the community for over 50 years, currently operating 14 health centers and providing care for more than 128,000, approximately 10% of Tucson’s population. This new facility will enable El Rio Health to expand services and meet the increasing demand for timely healthcare access. We could not be more excited to work with a non-profit organization that aligns so perfectly with our own mission – to provide greater access to care at a more affordable cost.”

“We are thrilled with Meridian’s ability to deliver a facility that meets our current needs and future growth plans,” said Clinton Kuntz, DBH, CEO of El Rio Health. “This new location is ideally situated to serve patients from multiple Tucson areas while alleviating capacity stress at our current Prince Road health center. We intend to offer a full range of our service lines at this location, including primary medical, dental and behavioral health care, pharmacy, radiology, specialized care and support services. This partnership ensures we can continue to meet the growing needs for primary care, and we are eager to begin construction.”

Conn added, “This acquisition exemplifies Meridian’s ability to partner together on real estate challenges with creative solutions that address capital constraints and the urgent need for expanded access to healthcare. Our adaptive reuse approach fosters speed to market at a lower cost, while providing flexible ownership options.”

About the Sale & Lease:

The buyer is MP-TH Stone Tucson Owner, LLC. Cushman & Wakefield | PICOR, Richard M. Kleiner, Principal, Commercial Properties, represented buyer.

The seller is CHVI Tucson Holdings, LLC. Transwestern Real Estate Services, Kate Morris and Vince Femiano, represented seller.

The tenant will be El Rio Santa Cruz Neighborhood Health Center, Inc. Cushman & Wakefield | PICOR, agent Richard M. Kleiner, Principal, Commercial Properties, represented the tenant. The landlord is MP-TH Stone Tucson Owner, LLC.

PHOTO: Former Tucson Heart Hospital, 4888 N. Stone, Tucson, Arizona.

TUCSON, AZ (October, 18, 2024) The industrial property at 4752 S. Tennessee Pl consisting of approx. ¼ acre land and a 2,000 square foot 40’x50’ building sold to Alliance Asphalt for its operations.

The gated lot has double gates, 3-phase power, an 8’x10’ office with full bathroom and kitchen area inside the metal building with an exit to the yard.

The asset sold for $275,000 ($137.50 PSF) and closed on October 15, 2024.

Batoun Herrington, CCIM, CPM® of Branel Real Estate represented the buyer, Motley Two Capital, an affiliate of Alliance Asphalt, in the transaction.

In a separate transaction, 4562 N. 1^st Ave. Suite #120, a 1,242-square-foot office condominium at Rillito Business Park, at First Ave south of River Road in Tucson

The asset sold for $305,000 ($246 PSF) and closed on October 16, 2024.

Batoun Herrington, CCIM, CPM® of Branel Real Estate Company, represented the seller. The buyer was self-represented in this transaction.

For more information, Herrington should be reached at 520.524.5248 or Branel Real Estate Company, LLC – Tucson Commercial Listings & Brokers.

To learn more, subscribers can refer to RED Comp #11531.