PHOENIX, AZ – Nick Miner, CCIM, of ORION Investment Real Estate, reports selling an 8,318 square foot retail building on the northwest corner of 53^rd Avenue and Bell Road for $3,150,000 or $378 per square foot.  Miner represented the Buyer in the transaction, Corridor Living, LLC, who Miner helped recently sale 4600 N Central Avenue in Phoenix.

Located in the larger Desert Glen Shopping Center that is anchored by Kohls, this four tenant strip center was 100% occupied at time of closing.  The tenants in the property that was purchased are Crazy Mike’s Subs, Music & Art, Gravitate and Oscar’s Taco Shop.  This is a good mix of national and local tenants.

Nick Miner, CCIM, Senior Vice President at ORION commented, “I have been working with my client for some time trying to find a replacement property for his 1031.  When this came available, we quickly moved to secure the asset for him.”

Miner continued, “This completes my clients 1031.  It is going to be a great long term ownership opportunity with great cash flow for him for many years to come.”

Seller, McLean Holdings, LLC, was represented by Danny Gardiner and Chad Tiedeman at PCA.

Tucson, Arizona – A limited liability company managed by Nick Jones, 3655 East 2^nd Street, LLC, purchased the property located at 3655 E. 2^nd St., Tucson, Arizona for $1.1 million ($98 PSF).

The property consists of an 11,259-square-foot office building built in 1960 and has a fenced and gated lot with 45 parking spaces and signage.

The seller, Outer Heaven, LLC was an owner occupant dba Fangamer, a video game merchandise company based in Tucson. Fangamer has moved to 5055 E Speedway Blvd.

The buyer, Nick Jones, founded Recovery in Motion Treatment Center and plans to occupy the property for a counseling center. Jones helped create Old Pueblo Community Services, and later moved on to open Recovery in Motion Treatment Center with individual and family participation drug treatment programs.

The seller was represented by Dean Cotlow of Cotlow Company.  Hank Amos of Tucson Realty & Trust Co., represented the buyer in the transaction.

For more information, Cotlow should be reached at 520.881.8180 while Amos can be contacted at 520.577.7000.

To learn more, see RED Comp #9475.

MARANA, ARIZONA — HSL Gladden Farms, LLC (HSL Properties, Inc., Omar Mireles, President), closed on 17 acres in Block 43 of the Gladden Farms master-planned community. The parcel is located at the NWC of Tangerine Road and Clark Farms Boulevard in Marana. The parcel was sold by the developer Gladden Phase II, LLC (Crown West Land Group, Dean Wingert, Vice President).

This block will be planned 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 master-plan was the top performing community in the Tucson area in 2021 and is home to 6 home builders – Meritage Homes, Richmond American, Lennar, Pulte Homes, KB Home, and Mattamy Homes.

Gladden Farms continues to have a record-breaking year both in land and lot sales as well as SFR permitting. The master plan has seen a surge in acquisition and development activity that continues to make it the most sought-after project in Marana.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and have the marketing assignment for all of Gladden Farms.

“Gladden Farms has surpassed all expectations over the past 18 months and this purchase is a solid statement for the future of this area,” commented White. “HSL Properties has been extremely selective of their acquisitions for future projects and Gladden Farms is a proven MPC with substantial upside over the coming years.”

Tucson’s Star Valley MPC Continues to roll with Lennar adding more lots in December

In a second transaction, the Star Valley master-planned community in Tucson’s southwest sub-market continues a red hot 2021. Lennar Arizona, Inc purchased an additional 101 lots (45’X110’) in Block 4 that will serve as next phase for the homebuilder. Lennar is currently selling in it’s Star Valley Destiny Collection.

This purchase comes on the news of Meritage and Richmond American also both adding to their respective positions in the masterplan. Las Patrias at Star Valley (Meritage) and Seasons at Star Valley(Richmond American) have been extremely strong and have signaled a renewed strength to Tucson’s southwest submarket. This activity has fueled the demand for additional lots to be purchased and prepared.

The project was initially purchased by Michael Geddes and Rick Andreen of Scottsdale in 2019. Earlier in 2020, Geddes and Andreen partnered with Sunbelt Holdings to develop the remainder of the project. Sunbelt Holdings has emerged as one of the largest master-developers in the Tucson region, developing well-known projects as La Estancia, Red Rock Village, and Sycamore Canyon.

The transaction was handled by Will White and John Carroll of Land Advisors Organization in Tucson. Land Advisors has the marketing assignment for all lot sales at Star Valley

“The Star Valley MPC has had a very strong 2021. The southwest submarket is proving to be a solid area with a large amount of demand for new housing,” said White. “The project has a significant amount of lots being prepared for 2022 and is making the process very streamlined for the homebuilders to continue to operate without disruption. In 2022 Star Valley will pick up right where it left off.”

To learn more, White and Carroll can  be reached in their Tucson office at 520.514.7454.