TUCSON, Arizona — Larsen Baker is pleased to announce the sale of a ±15,629-square-foot building on ±1.4 acres of land located at Sorrento Square on the southwest corner of Golf Links Rd. & Houghton Rd in Tucson to Goodwill Industries of Southern Arizona. The purchase price was $3.676 million ($235 PSF).

Built in 2013, the property was purchased by the tenant, Goodwill Industries of Southern Arizona, that has occupied since constructed for a Goodwill SuperStore. Goodwill Industries has 19 stores across Southern Arizona with 16 Retail Thrift Stores, 2 Outlet Stores, and 1 GoodThreads Boutique.

The property is the only Goodwill Thrift Store in the Vail area. This store claims to have one of the biggest selections of clothing and furniture of any of the Goodwill retail thrift stores. It is always a popular place on sale days and especially during the Halloween season. You will always find a great deal or two and of course shopping at Goodwill supports the community and reduces waste. Last year thanks to donations, Goodwill was able to keep over 28.5 Million pounds out of local landfills. It was also able to serve over 1,000 youth and 10,000 adults right here in Southern Arizona.

Andy Seleznov, CCIM, and Melissa Lal, CCIM, of Larsen Baker represented the Landlord, Larsen Baker, while Dave Blanchette with NAI Horizaon represented the Tenant.

For more information, Seleznov and Lal can be reached at 520.296.0200 while Blanchette should be contacted at 520.326.2200.

To learn more, see RED Comp #5309.

MARANA, Arizona – Safeway Store #1749 at 9100 N Silverbell Road in Marana sold as part of an agreement that included 71 stores to a Delaware limited liability company for an aggregate purchase price, exclusive of closing costs, of approximately $720 million, in a sale leaseback agreement. According to public records the store was valued at $6,696,428 as part of the bulk / portfolio sale.

Safeway and Albertsons Companies that merged in 2014 expects to enter into lease agreements with the purchaser, operating under the name “CF Albert PropCo LLC” for an initial term of 20 years with eight options for five-year renewals of the terms of the leases.

In the SEC filing, a wide array of Albertsons-owned banners were named as sellers of the 71 locations involved in the agreement, including Vons, Safeway, Acme Markets, Jewel Food Stores, Randall’s Food & Drugs, and Dominick’s Finer Foods.

Names of representatives for CF Albert PropCo LLC  were all redacted in the sale agreement. CF Albert does not have a web presence, but the filing does refer to the business as a “Delaware limited liability company.”

The deal, was expected to close before December 2, and would allow for Albertsons have more liquid assets and free up cash.

To read more on the specifics of Albertsons’ deal, click here to read the company’s SEC filing.

To learn more, see RED Comp #5327.

TUCSON, Arizona — The Tucson Unified School District (TUSD) 2015 approved sale of Townsend Middle School closed this week at 2120 N Beverly Ave. in Tucson to Pima Medical Institute (PMI) for $5.63 million.  The site will be developed into a medical educational campus with a mix of medical office and small retail use on the excess land.

The buyer, Pima Medical Institute has been helping students change their lives for 40 years, providing training and education for careers in health care. Pima Medical Institute offers certificate programs, associate degree programs and bachelor’s degree programs. Students get the training needed for a new career in less than a year, earn an associate degree in less than two years, or earn a bachelor’s degree in health care.

Soon after PMI became the successful bidder, Jim Marian of Chapman Lindsey Commercial Real Estate and Linda Morales of The Planning Center began the planning process tasked with creating a vision for the campus. Together with the neighborhood, they developed a concept that retains a majority of the 102,741-square-foot school building, and redirects traffic onto Craycroft, away from the neighborhoods.

The existing ball-fields were being heavily used by local soccer clubs that had funded the lighting of the fields. So a plan, in cooperation with the City of Tucson and County Parks and Recreations, was put into place to relocate these clubs to other fields at Booth-Fickett Middle School for the clubs to continue there.

Neighbors were also concerned about losing the ability to walk the school grounds in the evening and on weekends, so the development team proposed a walking path through the site that would continue neighborhood access to the new medical education campus.

Since the site is larger than needed, PMI formed a joint venture with Craig Masters and Walter Hoge of Rio West to develop a portion of the property into a mix-use medical office and small retail use that would enhance the medical education campus.

The sale is the largest yet for a closed campus by the Tucson Unified School District governing board. Proceeds from these sales must be used for specific purposes such as to pay off bonds, reduce taxes, improve existing schools, or to purchase new school sites.

For additional information on this transaction, Marian can be reached at 520.747.4000 and Morales can be contacted at 520.623.6146.