TUCSON, AZ (January 9, 2026) — Foundation Building Materials, LLC has purchased 3.27 acres of I-1 light industrial land at 1551–1601 S. Freeway in Tucson. The transaction closed on December 31, 2025, for $975,000. Randy Emerson of GRE Partners, LLC represented both the buyer and the seller, Lowell P. Carhart and Miev Y. Carhart, in the transaction.

The property totals approximately 142,276 square feet and is located in Tucson’s South submarket.

The buyer will use it for parking and storage for now and hold it for development. 

In a broader corporate backdrop, Lowe’s completed its acquisition of Foundation Building Materials (FBM) in October 2025 in an all-cash transaction valued at approximately $8.8 billion. Lowe’s said the deal strengthens its Pro-focused growth strategy by adding FBM’s distribution footprint and jobsite fulfillment capabilities for interior building products, expanding Lowe’s reach among professional contractors and large-scale project customers.

For more information, contact Randy Emerson at GRE Partners, LLC at (520) 777-4949.

TUCSON, AZ (Jan. 8, 2026) — Investment sales activity at Tucson Marketplace at The Bridges continues to draw both institutional and private capital, with JLL (Phoenix) Director Nick Franklin closing four recent sales totaling $17,579,653 across a mix of retail formats—an 8-suite strip center, two convenience/fuel properties, and a drive-thru coffee pad for Black Rifle Coffee opening in Spring 2026.

Across all four transactions, the seller was BP Bridges Partners LLC (c/o Bourn Properties, LLC).

Shops at the Bridges: $10.95M strip center sale

BP Bridges Partners LLC sold Shops at the Bridges, an 8-suite retail strip center totaling 14,158 square feet at 3450 & 3470 S. Kino Parkway, for $10,950,000 on Dec. 11, 2025. The buyer was CL Shops at the Bridges AZ LLC, affiliated with Curbline Properties LP.

Marketing for the center highlighted 100% occupancy and a national tenant lineup, including First Watch and MOD Pizza, plus Jersey Mike’s, Einstein Bros Bagels, and Supercuts, benefiting from the regional draw at The Bridges, anchored by Costco and Walmart.

QuikTrip: $2.65M ground-lease

The ground lease for QuikTrip at 920 E. Tucson Marketplace Blvd sold for $2,650,000 on Dec. 29, 2025. The seller was BP Bridges Partners LLC, and the buyer was QuikTrip Corporation (Tulsa).

The transaction involved the leased fee interest in the land, with QuikTrip already owning the improvements, a 5,298-square-foot convenience store/fuel facility built in 2023 on 1.85 acres, with eight pump stations (16 pumps). The deal was marketed at a 5.47% cap rate and referenced an absolute NNN ground lease with an 18.3-year WAULT and a $145,000 NOI in marketing.

Circle K: $2.53M net-lease investment

A newly constructed Circle K convenience store and fueling station at 3540 S. Kino Parkway sold for $2,534,653 on Aug. 27, 2025. The buyer was Flemming and Mary Hjorting Co-Trustees (Hjorting Family Trust), and the seller was BP Bridges Partners LLC.

Completed in 2022, the property totals 5,198 square feet and includes modern fueling facilities with 32 pump stations (4 per pump).

7 Brew Coffee: $1.445M drive-thru pad

A compact 7 Brew Coffee drive-thru building at 960 E. Tucson Marketplace Blvd sold for $1,445,000 on Nov. 3, 2025. The buyer was MTHREE-D Properties LLC (Dana Point, CA), and BP Bridges Partners LLC was the seller.

The building is approximately 798 square feet on 0.75 acres, and the sale reflects premium pricing for compact drive-thru formats in stabilized retail corridors.

All four sales were handled by Nick Franklin of JLL. Contact Franklin at 515.897. 8256.

Source: RED Comps #12234, #12279,  #12181 and #12068

TUCSON, AZ (Jan. 7, 2026) — Casa Del Coronado Apartments, a 208-unit multifamily community at 201 W. Blacklidge Drive in Tucson’s Central submarket, sold on Dec. 23, 2025, for $16 million ($76,923 per unit).

Built in 1982-1983, the 12-building, two-story property totals 110,432 square feet on 6.61 acres, with a sale price of $144.89 per square foot. The community is described as frame-and-stucco construction in average condition and offers a mix of studio, one- and two-bedroom units. Amenities include two pools and spas, two basketball courts, covered parking, controlled access, and outdoor features such as a pet play area and picnic area.

The seller was AI NPL REO 16 LLC (c/o AI NPL Investors LLC) an affiliate of Ascendant Capital Partners of Dallas, TX. The buyer was San Miguel Town LLC (c/o Hanapat Management) based in Tucson.

The seller acquired the property in August 2025 for $17,726,319 as part of a portfolio sale.

“This transaction was completed as an REO sale requiring a disciplined execution strategy, market expertise, and close coordination between all parties to achieve a successful outcome,” accoding to Trevor Koskovich, President of Northmarq. “Despite market headwinds, the asset generated strong investor interest due to its scale, location, and long-term repositioning potential.”

The property was listed by Northmarq Multifamily, with Jesse Hudson, the lead contact (602.952.4042).  Marcus & Millichap (Tucson) / Institutional Properties Advisors’ (IPA) Hamid Panahi (520.719.6511) and Clint Wadlund (520.349.0621) represented the buyer.

Source: RED Comp #12275.