Santa Cruz River Apartments

Tucson, Ariz. (October 21, 2025) – CBRE’s Jeff Casper has facilitated the sale of Santa Cruz River Apartments, a 55-unit multifamily community located at 851 West Ajo Way in Tucson, Ariz. The property was acquired by Santa Cruz River LLC for $3.62 million ($65,818 per unit).

Casper represented the seller, A&J Properties Three LLC, in the transaction. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the buyer.

“This sale represents a significant opportunity in a growing area of Tucson,” said Casper, first vice president. “The property, which was a long-term hold for a family office, offers the Buyer a compelling value-add opportunity in a market experiencing strong population growth and expanding retail options. Its location near key employment corridors further enhances its appeal as an attractive investment.”

The four-building community features a mix of studio, one- and two-bedroom units. Built in 1983, select units have undergone renovations with the addition of new cabinets, countertops, vinyl plank flooring, and new appliances, which have been well-received by residents

Situated on 1.5 acres, Santa Cruz River Apartments is located along Interstate 19 (I-19) and offers convenient access to downtown Tucson and I-10.

TUCSON, AZ (October 17, 2025) — Cushman & Wakefield | PICOR closed the sale of Glenn East Apartments at 2333 E. Glenn St. for $4,425,000—above the $4.4 million asking price. Allan Mendelsberg and Joey Martinez, Principals and Multi-family specialists, represented both buyer and seller in the transaction.​

The 46-unit property sits on 1.07 acres in central Tucson, directly off Campbell Avenue and minutes north of the University of Arizona and Banner University Medical Center. Built in 1963 with recent upgrades, the masonry and wood-frame complex totals 32,620 square feet across 12 one-bedroom/one-bath units and 34 two-bedroom/one-bath units.​

The property sold at $94,148 per unit and $140.25 PSF after receiving 12 competitive offers within a two-week marketing period. An attractive assumable loan at 3.7% debt made the investment opportunity even more compelling for buyers looking to minimize financing costs.​

Glenn East benefits from its proximity to Campbell Plaza, home to Flower Child, Dough Bird, Baja Cafe, Albertsons, Ace Hardware, and Ross—anchoring one of Tucson’s busiest eastside corridors near the Catalina Foothills. With the University of Arizona, Banner University Medical Center, and Arizona Cancer Center all within a short distance, the property draws consistent demand from students and young professionals.​

The complex includes on-site laundry, assigned covered parking, a sparkling pool, and landscaped courtyards with artificial turf, desert plants, and mature shade trees—all set against the view of the Catalina Mountains. Select units have undergone interior upgrades, including modernized kitchens with new cabinetry, tile backsplash, updated flooring, and refreshed bathrooms. Two-bedroom units feature full air conditioning and upgraded electrical panels, while one-bedroom units still operate on evaporative cooling—presenting value-add potential for new ownership.​

With below-market rents and operational upside, Glenn East offers immediate opportunities for cash flow improvement. The property closed on October 2, 2025, and was sold with a neighboring single-family home at 2315 E Glenn Street.

Source: RED Comp #12132

TUCSON, AZ (October 16, 2025) — Basileus Capital, LLC has purchased a 5,867-square-foot South Tucson industrial building located at 3231 E. 46th Street in Tucson for $650,000 ($111 PSF). The property was sold by Xtremeone, LLC.  Paul Hooker, SIOR, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller, while Susan McCall of Commercial Property Connect, LLC, represented the buyer.

The freestanding building is situated in Tucson’s South Industrial submarket, an area known for its proximity to I-10, Tucson International Airport, and major distribution corridors along Palo Verde and Irvington Roads. The property offers flexible warehouse and office space, multiple grade-level doors, and secure fenced yard storage — features ideal for light industrial, service, or logistics-oriented users.

The sale underscores continued interest from private investors and owner-users seeking smaller, well-located industrial assets in a tightening market characterized by low vacancy rates and steady rental growth. South Tucson’s industrial corridor has seen increased absorption in 2025 as businesses expand operations to serve the growing manufacturing, construction, and logistics sectors tied to regional supply chain growth.

According to Hooker, the property’s functionality and access made it an appealing acquisition for Basileus Capital, which plans to reposition the building for specialized industrial use.

“Demand remains strong for small to mid-sized industrial buildings under 10,000 square feet,” Hooker said. “These properties rarely stay on the market long, particularly in central locations with easy freeway access.”

For more information, Hooker can be reached at 520.546.2704, and McCall is at 480.452.6731.