Saturday, April 20, 2019

Mercado El Herradero Carniceria Coming to Ina Road & I-10 in...

MARANA, Arizona – Primo’s R/E Investments of Mesa (Ernetso Rascon, manager) purchased a 29,294-square-foot padded lot at 4505 West Ina Road in Marana for $445,000 ($15.19 PSF). The buyer plans to build a 5,200-square-foot Mercado El Herradero Carniceria on the site. The seller, David Lee of Marlee Saguaro, LLC and...

DoubleTree by Hilton Tucson – Reid Park Sells for Large-Scale Renovation

TUCSON, Arizona -- Tucson-owned Nor Hotel Properties, LLC. has acquired DoubleTree by Hilton Tucson – Reid Park, at 445 S. Alvernon Way, for $10 million ($34,843 per room) with plans to begin a large-scale renovation of the 287-guest- room-hotel.  The plans include renovation of the 25,000-square- feet of meeting space, the hotel...

Richmond American Homes to Build New Neighborhood in Rancho Sahuarita

SAHUARITA, ARIZONA -- Richmond American Homes is the second homebuilder to join Rancho Sahuarita’s newest neighborhood of Entrada Del Rio, with the purchase of 42 finished lots for $2.41 million ($57,286 per lot). Last month, Lennar closed on the first 82 lots in the neighborhood. Entrada Del Rio offers new...

Oracle Crossing Shopping Center Trades for $41.1 Million to Town West...

Cushman & Wakefield sells Sprouts anchored neighborhood center ORO VALLEY, ARIZONA – Cushman & Wakefield completed the sale of Oracle Crossings at 7805 N Oracle Road in Oro Valley, a Sprouts Farmers Market anchored neighborhood shopping center, and located in Oro Valley, Ariz. Tucson-based Town West Realty (James Horvath) purchased...

Multifamily Portfolio with 5 Properties in Tucson Sells for $3.724 Million

TUCSON, Arizona – Gould Family Properties VIII, LLC of Tucson (Wayne & Amy Gould managers) purchased 69-units in five separate properties for a combined total of $3.724 Million ($54,000 per unit). The sellers were various limited liability companies managed by James and Joan Johnston of Tucson. The properties included 1620-1650...

KB Home Closed on 60 Lots in Two Infill Projects for...

TUCSON, ARIZONA -- KB Home Tucson purchased 28 platted lots in northwest Tucson for $758,800 ($27,100 per lot) and a second infill project at Irvington and Cardinal 32 platted for 32-lots in West Tucson for $264,000 ($8,250 per lot). The property in the northwest is located south of Orange Grove...

Heslin Holding Continues Tucson Buying Spree with Babies ‘R” Us for...

Commercial Real Estate Firm to Invest $75 Million in Next 12 Months TUCSON, ARIZONA -- Heslin Holdings, Inc. a privately owned commercial real estate investment and development firm, purchased a second big box for redevelopment recently in Tucson. In October, we reported Helsin acquired the 35,000-square-feet former Safeway building at 5548...

Lakeside Business Park Sells Broker to Broker for $3.875 Million

TUCSON, ARIZONA -- Tesoro Enterprises (Gary Emerson, member) sold Lakeside Business Park at 7941-8051 East Lakeside in Tucson to Lakeside BP, LLC for $3.875 million ($58 PSF). The 66,670-square-foot business park in three buildings is zoned C-2 and was built in 1984 and expanded in 1990 on 4.47 acres. Tenants at...

Plaza Encantada Offices Sell to California Investors for $1.275 Million

TUCSON, ARIZONA – Plaza Encantada Office complex at 2802-2810 N Alvernon Way in Tucson sold for $1.275 million ($103 PSF) to a group of California investors, MBLA Tucson, LLC c/o MEI Real Estate Services of Los Angeles. Plaza Encantada, the Enchanted Place, is full of southwestern charm. Located at the...

Holualoa Companies Purchases Gateway Student Housing in Tucson for $12.9 Million

Cushman & Wakefield Negotiates Sale of 188-Unit Student Housing Community PHOENIX, Arizona – Cushman & Wakefield completed the sale of Gateway at Tucson, located at 2800 W. Broadway Blvd. in Tucson. Holualoa Companies of Tucson purchased the property from CW Capital Asset Management LLC of Bethesda, MD for $12.9 million...

Harsh Investment Acquires Another Tucson Industrial Property for $10.5 Million

TUCSON ARIZONA – Harsch Investment Properties, a Portland-based real estate investment, development and management company, continued its aggressive growth in Tucson, Arizona with the purchase of 2201 East Medina Road in Tucson for $10.5 million ($72.50 PSF) from Intercontinental Real Estate Corporation of Boston, MA. The property is 144,900-square-feet and...

The Place at Rock Ridge in Oro Valley Fetches $39.5 Million

TUCSON, Arizona -- Scottsdale-based MC Companies (Ross McCallister, principal), a real estate investment, management, development and construction company sold 319-units at Rock Ridge Apartments at 10333 N Oracle Road in Oro Valley to a private investment group from Newport Beach, CA, Springwood Investors, LLC; its first investment in Tucson. The...
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