Wednesday, November 22, 2017

US Homebuilders Turn Increasingly Optimistic

The National Association of Home Builders/Wells Fargo builder sentiment index released Thursday reached its highest point in 11 years. The index climbed seven points for December to a reading of 70. Any figure above 50 indicates that builders view sales conditions as positive. The index last reached 70 in...

Maracay Homes Purchases 93 Lots in Goodyear for $3.8 Million

Neighborhood with all-new floor plans scheduled to open in late 2017 GOODYEAR, Ariz. –  Maracay Homes, a wholly owned company of the TRI Pointe Group (NYSE: TPH), closed on a $3.8 million purchase of 93 homesites for courtyard cluster single-family detached homes in the Rio Paseo Cottages community on West...

Ventana Medical Records $18 Million Sale for Acreage at Innovation Park...

TUCSON, Arizona -- Ventana Medical Systems, Inc., a member of the Roche Group, closed on 53.6 acres at Innovation Park in Oro Valley for $18 million ($336,000 per acre) according to public records. The land is adjacent to the company’s current facility at 1910 E Innovation Park Drive and...

Marana El Pollo Loco Investment Sale Concluded for $2.56 Million

TUCSON, Arizona - El Pollo Loco at 3781 W Ina Road sold for $2.56 million ($771 PSF) in an investment sale. The former Burger King restaurant site was sold and converted by WKS Restaurant Group (Roland Spongberg, CEO) in 2015 to El Pollo Loco. Headquartered in Lakewood, California, WKS Restaurant...

Demand Grows for Better Infill Sites in Tucson

KB Homes has New Infill Subdivision in Northwest TUCSON, Arizona -- KB Home closed on a 17+ acres for a new infill project at the southwest corner of La Cholla and Corral Ridge Loop in Northwest Tucson near OMNI Tucson National Golf Resort. The property commanded a sale price...

Larsen Baker Buys Tucson Building for New Neighbors Emergency Center

TUCSON, Arizona -- Larsen Baker of Tucson (George Larsen, principal) purchased a 6,894-square-foot retail building located at 7285 E. Tanque Verde Rd. in Tucson, from The Price Group, LLC for $1.194 million ($173 PSF). The property was formerly a personal training / fitness center, most recently doing business as Marcel’s...

Winning Tucson land bid: $330 PSF to Sterling University Housing at...

TUCSON, Arizona -- The Dinerstein Companies (TDC) purchased a 30,950-square-foot lot for the latest student housing project at the University of Arizona. The property commanded a sale price of $10.2 million ($329.56 PSF) with 26 bidders competing for the site. Sterling University Housing is a wholly owned subsidiary of TDC,...

Investment Group Trades Tucson Office Complexes

TUCSON, Arizona -- EJC Properties LLC and 18 Central LLC of Tucson, investment groups formed by Eddy Chernecki, recently sold Pima Professional Plaza at 5700 E Pima Street in Tucson for $2.165 million ($108 PSF). The medical offices in a campus-style setting were built in 1978, and have nine office...

Berkadia Completes $43 Million Sale of Tucson Multifamily Property

TUCSON, ARIZONA -- Coronado Villas, at 9225 East Tanque Verde Road, a 432-unit multifamily property in Tucson, Arizona has sold. Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of the Tucson Berkadia office completed the $43 million sale at a price-per-unit of $99,537. The seller was Prime Residential,...

Tucson Manufacturer, Spartan Armor Systems Buys Manufacturing Facility

TUCSON, ARIZONA - Copper Street Armor Factory, LLC of Tucson (Todd Meeks, manager) doing business as Spartan Armor Systems, purchased a 12,800-square-foot industrial building and excess land at 1830 & 1840 W Copper Street in Tucson for $702,000 ($55 PSF). The building was built in 1993 and includes a...

CopperRidge Healthcare Campus Planned at Shannon & Cortaro Farms in Tucson

TUCSON, Arizona -- CopperSands Inc. of Phoenix (Ron Leach, Sr. Vice-President) purchased 9.25 acres at the northwest corner of Cortaro Farms and Shannon Road in Tucson for $1.675 million ($4.16 PSF). The property was purchased for construction of CopperRidge Healthcare Campus, a Skilled Nursing Care Campus for seniors. The company...

Tucson Medical Office Investment Sells for $1.84 Million

TUCSON, Arizona -- Kenneth Swanson, Inc., a family trust, purchased a 7,152-square-foot Medical Office Investment Property at 4582 N. 1st Avenue, from Southern Arizona Land Ventures, LLC in a sale leaseback transaction for $1.838 million ($256 PSF). The property will continue to be occupied by The Pain Institute of Southern Arizona...
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