TUCSON, Arizona – An affiliate of Bourn Companies (Don Bourn) of Tucson, BP Grant Pad Investors, sold the retail shops at 6572 E Grant Road in Tucson sold in as an investment asset for $3,894,400 ($518 PSF). Located at the Target Shopping center at Grant and Tanque Verde, the 7,525-square-foot building, built in 2017, sits on a 31,748-square-foot pad.

The property was fully occupied when it sold with three tenants: Southern Arizona Urgent Care, Sprint and Nationwide Vision.

The buyer was a private investor from San Diego, Calif. that was represented by Pamela Scott with GPS of Santa Barbara, CA.

Jamie Medress with Marcus & Millichap represented the seller.

For more information, Medress should be reached at 602.687.6778.

To learn more, see RED Comp #5475.

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 full K-8.

The Leman Academy is named for Kevin Leman, a renowned psychologist and author. He has become a radio and television personality, educator, speaker, and author of over 45 books on parenting, marriage and family living.

The idea is to create a learning environment based on a Classical Education platform. Classical Education is based on the three stages of learning: grammar, logic and rhetoric and is rooted in integrating the various subjects thematically, providing a tie between subjects.

The site is at approximately 10142 E Golf Links Road in Tucson and will be its third school in metro Tucson, with a fourth school in Sierrra Vista. Other locations include Marana and Oro Valley were also  built-to-suits while the school in Sierra Vista was a retrofit to an existing school building.

Click Here and Here for earlier stories.

Patrick Welchert, SIOR, of Alpha Commercial Real Estate Service in Tucson represented Leman Academy and Andy Seleznov and Melissa Lal with Larsen Baker of Tucson represented the seller, Larsen Baker, LLC (George Larsen).

For additional information, Welchert can be reached at 520.360.9394 and Seleznov ad Lal are at 520.296.0200.

To learn more, see RED Comp #5472.

TUCSON, Arizona — VEREIT, Inc. (NYSE:VER) (Glenn Rufrano, Chief Executive Officer), a real estate investment trust (REIT), purchased a 56,000-square-foot retail pad at Houghton Town Center in Tucson, Arizona for $10.9 million ($195 PSF).

The building, located to the east of Super Walmart, was built for and fully occupied by Ross Dress for Less®, T.J. Maxx® and Petco® that opened in 2017 at 9236 – 9250 S Houghton Road in Tucson’s Vail area.

The Ryan Companies US, Inc. (John Strittmatter, Chairman/Southwest) was the seller, developer and general contractor of this retail project at Houghton Town Center and purchased the 6.13 acres for $1.98 million ($7.39PSF) a year ago. See Real Estate Daily News Houghton Town Center Expands Footprint

Ryan Companies US, Inc. is a 3rd generation, family-owned national developer, designer, capital investment consultant, builder and real estate manager specializing in fully integrated solutions for over 75 years.

To learn more, see RED Comp #5457.