TUCSON, ARIZONA, January 3, 2023 — Cypress Green Gardens, LLC, (Susan Ong, manager) has purchased the two properties known as ‘Lee Plaza’, located at 3439-3461 E. Speedway Blvd., from Lee Plaza, LC and Lee Family Property Management, LLLP. The sale includes two properties from separate ownerships purchased in simultaneous closings for a total of $3,835,000.

Lee Plaza was developed, owned and managed by the Lee family for over 40 years. The center is home to a variety of long-term retail and service-based tenants such as Stereo Pad and FastSigns.  The property has been upgraded and remodeled several times over the years and is fully leased.

Susan Ong is the representative of the Buck Sam Chu estate and has been working on entitlements, upgrading and repositioning many of its extensive holdings.  The purchase the Speedway project by Cypress Green Gardens was a portion of a 1031 trade from farm land in Marana sold to a home builder.  Susan is also in the process of demolishing Amphi Plaza, on the north east corner of First Ave and Ft. Lowell roads to make way for development of a multi-use commercial project.

Susan Ong represented the buyer in this transaction, while the seller was represented by David Lee and Cameron Lee of David Lee Real Estate Company, and Matthew Wong of Crestline Properties.

To learn more, see RED Comps #10373 and #10374.

TUCSON, ARIZONA (December 23, 2022) — HSL Gladden Farms Crossroads Block 3, LLC an affiliate of HSL Properties, Inc. of Tucson (Omar Mireles, President) closed on +/- 22 acres known as Block 3 of The Crossroads at Gladden specific plan in Marana. The purchase price was $6,349,058 ($288,594 per acre).

The parcel is located just north of the highly visible corner of Tangerine Road and Clark Farms Boulevard in north Marana. The parcel was sold by the developer Tangerine 2021, LLC an affiliate of Crown West Land Group of Tucson (Dean Wingert, Vice President).

The Crossroads at Gladden masterplan has been the hub of new industrial and commercial activity in addition to the large ongoing residential development at the Gladden Farms master-planned community next door. HSL previously purchased a 17-acre parcel and a 58-acre parcel within Gladden Farms in 2021 and 2022 respectively and both in close proximity to this new acquisition.

Block 3 of Crossroads will be planned and held for future multi-family development. Gladden Farms is a 1,350-acre master planned community in northern Marana, just west of Interstate 10 between Tangerine and Moore Roads. The masterplan has been documented as one of the top performing communities in the Tucson area for years and is home to 6 home builders – Meritage Homes, Richmond American, Lennar, Pulte Homes, KB Home, and Mattamy Homes.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction that closed on December 15, 2022.

“This is another strategic acquisition by HSL Properties. HSL continues to be extremely proactive in their approach to future development in this north Marana area. It is an excellent parcel. The Gladden Farms/Crossroads area has become a very busy address for new industrial, employment, retail, and residential development and will be for some time.”

For more information, White and Carroll should be reached at 520. 514.7454.

To learn more, see RED Comp #10370.

TUCSON, ARIZONA (December 22, 2022) — QuikTrip, an Oklahoma Corporation, purchased approximately 5.3 acres of land Valencia Crossings, near Valencia and I-10 from Valencia Crossing Long Term Investment Company, LLC for $2,500,000 ($10.83 PSF).

The sale closed on December 16.

Quik Trip intends to build a C-Store/Travel Center on the Site.

The seller was represented by Derrick Sinclair of Terramar Properties and the buyer was represented by Randy Emerson of GRE Partners.

For more information, Sinclair can be contacted at 520.577.7800 and Emerson is at 520.777.4949.

To learn more, see RED Comp #10376.