TUCSON, ARIZONA, (November 30, 2022) – SonderCare Behavioral Health bought the building it occupied at 6390 E Broadway Blvd. in Tucson for $2.2 million ($101 PSF). The two-story office building is 21,820 square feet, built in 1980 on 1.21 acres with 80 parking spaces.

The building previously had 3 tenants, and the buyer took over all the other spaces as they became available. SonderCare Behavioral Health occupied 100% of the building at time of sale.

The philosophy of SonderCare BHS is to assist individuals by developing their current skills and improving their overall quality of life. Individuals are empowered and encouraged to make decisions and participate in their treatment. Providing exceptional mental health services to the community presents a challenge now more than ever before. The Covid-19 pandemic has had a major impact on everyone’s lives. Public health actions such as social distancing are necessary to reduce the spread of Covid-19 however can make people feel isolated, depressed and anxious.  Sondercare has a solution! By implementing social distancing in our facility, we are able to provide in-person services so individuals can stay on top of their mental health.

Jon O’Shea with Vast Commercial Real Estate Solutions represented the seller, L St. Louis, LLC of Oro Valley.

Rob Lamb with Long Realty represented the buyer.

For more information, O’Shea can be contacted at 520.780.4743 and Lamb should be reached at 520.299.6444.

To learn more, see RED Comp #10260.

Tucson, AZ. – November 29, 2022 –Larsen Baker through its affiliate East Speedway Plaza, LLC sold the 22,960-square-foot freestanding retail building occupied by Summit Hut, at 5251 E Speedway Blvd. between Craycroft and Rosemont.

The building was sold to an affiliate of the Summit Hut operation as an owner user sale and sold for $3,157,000 ($137.50 PSF) on November 21, 2022.

Summit Hut has been a leader in outdoor gear and supplies in Tucson for over 50 years.

Isaac Figueroa with Larsen Baker represented the seller and handled the transaction for buyer.

Figueroa can be reached at 520-296-0200 ext #218 for more information.

To learn more, see RED Comp #10320.

TUCSON, Ariz., Nov. 23, 2022 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Eastyn Park, a 279-unit multifamily property in Tucson, Arizona. The $42.5 million sales price equates to $152,329 per unit.

“Eastyn Park is in excellent position to continue capitalizing on Southeast Tucson’s average effective rent growth given recent enhancements to common area amenities and interior renovations,” said Hamid Panahi, IPA senior vice president.

“Tucson’s steady rate of rent growth is a result of low unemployment, inadequate supply of new single-family and multifamily housing, and the increasing affordability delta between rent and the cost of 30-year fixed residential mortgage payments,” added Clint Wadlund, IPA senior director.

Hamid Panahi, Clint Wadlund, Art Wadlund, Steve Gebing and Cliff David represented the seller, Sheiner Group/Living Well Homes, and procured the buyer, Greenwater Investments. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets arranged the acquisition financing.

Constructed in 1973, the asset is near Interstate 10 and less than 10 miles from Downtown Tucson. There are over 83,000 jobs with employers including IQor, Rincon Research Corp., St. Joseph’s Hospital and Medical Center, Texas Instruments, and ADP Tucson within a five-mile radius. Shopping at Park Place Mall and recreation options Morris K. Udall Center and Dorado Golf Course are nearby. The University of Arizona is seven miles from the property.

Eastyn Park is a 33-residential building, garden-style asset with a newly upgraded fitness center and pool area, two swimming pools, business center and picnic areas with barbecue grills. Apartments have all-electric kitchens, wood-style plank flooring and oversized closets.   The average unit size is 895 square feet.

For more information, Panahi and Wadlunds can be contacted at 520.202.2900.

To learn more, see RED Comp #10316.