Wednesday, December 12, 2018

A Culver’s and Two New Dutch Bro’s coming to Vail and...

SAHUARITA, ARIZONA – Team Adams Sahuarita LLC of Sierra Vista (Kevin Adams Trust) paid $1.065 million ($286 PSF) for a former American Southwest Credit Union with excess land at 18800 S Nogales Hwy in Sahuarita Plaza. CVP- Sahuarita Plaza DB LLC, an affiliate of Cole Valley Partners of Portland Oregon,...

Tucson’s Senior Housing Specialist Closes on 20-bed Assisted Living Sale

TUCSON, ARIZONA – Mark Biery, JD, CCIM, of Berkshire Hathaway who specializes in Senior Housing closed on two, 10-bed assisted-living care homes at 5530 and 5536 E. 2nd Street in Tucson for $1.28 million ($64,000 per bed). The two 4,200-square-foot buildings were build in 2016 and were ready to occupy...

NorthMarq closes and finances the Paseo Del Sol apartments in Tucson...

TUCSON, ARIZONA – The 152-unit Paseo Del Sol Apartments, located at 6280 South Campbell Avenue, in Tucson, Arizona, sold this month for $12.5 million ($82,237 per unit). The NorthMarq Multifamily team of Bill Hahn, Trevor Koskovich, and Jesse Hudson represented both the seller and the buyer in this transaction. AndMark...

5 Recent Tucson Multifamily Sales – C&W Picor Brokers $7.1 Million...

TUCSON, ARIZONA -- A private investment group purchased The Compound Student Housing at 774 E Seneca in Tucson for $3.15 million ($112,500 per bed). The 7-unit property was 100% occupied when is sold. Allan Mendelsberg, Multifamily & Investment Specialist with Cushman & Wakefield | PICOR, handled the transaction for...

Denny’s America’s Diner Coming to Houghton Town Center

TUCSON, Arizona – Feast Properties, LLC of Murrieta, California, the construction arm for Denny’s Restaurants, purchased a pad at Houghton Town Center for $575,000 ($20 PSF). Ready for construction, Vail should have its first Denny’s sometime next year right along with the McDonalds that has started construction at Houghton...

LAO-Tucson Closes on $12.61 Million of Land Sales in Northwest Tucson

TUCSON, Arizona -- Will White and John Carroll with Land Advisors Organization (LAO) closed this week on $12.61 million in land sales in Rancho Vistoso and Gladden Farms in Northwest Tucson submarket. A New York-based land investment REIT, JEN Arizona 32, LLC and affiliate TerraWest Communities (Mike Jesberger) purchased Blocks...

California Investor purchases Tucson Medical Building for $2.7 Million

TUCSON, ARIZONA – A California investor purchased the office building at 4745-4753 E. Camp Lowell Drive in the Swan Corporate Center in Tucson for $2.7 million ($209 PSF). The 12,923-square-feet of rentable space was 100% occupied by three long-term tenants at time of sale. Built in 2001 in Swan Corporate...

240-unit Palomino Crossing Apartments in Tucson sold and financed by NorthMarq

TUCSON, ARIZONA – The Palomino Crossing Apartments, located at 750 East Irvington Road, Tucson, Arizona, sold this month for $13.75 million ($57,292 per unit). The NorthMarq Multifamily team of Bill Hahn, Trevor Koskovich, and Jesse Hudson represented both the seller and the buyer in this transaction. AndMark Investment Fund IV, LLC,...

DR Horton Acquires New Platted Subdivision in Southern Submarket of Tucson

TUCSON. ARIZONA – D.R. Horton (Brent Davis, Division President) purchased 39 acres at 5975 S Tucson Blvd. in Tucson for $2.184 million ($21,204 per lot).  The property is platted for 103 homesites known as Tres Pueblos Este and is ready for development. Located at the northwest corner of Tucson Blvd....

Investment Sale of Pad at Target Center Tucson Sells for $3.9...

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...

Leman Academy Chooses Sorrento Square in East Tucson for Third Site

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...

VEREIT Buys Retail Pad at Houghton Town Center for $10.9 Million

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...
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