TUCSON, AZ — Grant Clover Commons, LLC, an affiliate of Tucson-based The Clover Company, (Paul Kraft, CEO) purchased 74,134-square-feet of industrial space from Sloat Family Partnership, LLLP for $6,741,361 ($91 PSF).

Built in 1984, the 4-property portfolio sale at 1101, 1121, 1131 and 1141 W Grant Road, at the southeast corner of the Grant Road and Interstate 10 interchange in Tucson, includes tilt-up constructed warehouse, manufacturing and showroom space on 5 acres.

Tenants include Opus Inspection, Miner Southwest, Tech-24, Krausch Architectural Windows & Doors and La Frontera Center

This acquisition marks the 6^th Tucson industrial investment for The Clover Company since its start in 2014.

Cushman & Wakefield | PICOR Principals and Industrial Specialists handled this transaction.  Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, represented the seller; Robert C. Glaser, SIOR, CCIM, represented the buyer.

For more information, Cohen can be reached at 510.546.2750 and Glaser should be contacted at 520.546.2707.

To learn more, see RED Comp #7403.

TUCSON, ARIZONA — Affiliates of West Coast Capital (Phil Skillings, member) of Scottsdale acquired a two-property portfolio from affiliate entities of The Colton Company (David Colton, manager) of Santa Anna, CA for an aggregate of $68.35 million. Both properties are high-end professional offices with excellent visibility.

Cambric Corporate Center at 1730-1880 East River Road in Tucson sold for $20.85 million ($128 PSF). The 163,258-square-foot office complex has seven buildings on 8.9 acres, built in 1985 with mixed two- and three-story buildings. It was 95% occupied at time of sale with 41 tenants, located at the southwest corner of River Road and Campbell Avenue in Tucson.

In the second transaction, a large portion of the Williams Centre, at 5180-5285 East Williams Circle in Tucson sold for $47.5 million ($128 PSF). The 370,513-square-foot office space in four buildings was built in 1987. It was 92% occupied at time of sale with such tenants as Merrill Lynch, Tucson Hispanic Chamber, Asarco and Crest Insurance Group.

Phil Skillings, a principle with West Coast Capital is also with NAI Horizon in Tucson. Skillings will be handling the leasing at both properties.

Barry Gabel, Chris Marchildon, Bob Smith and Will Mast with CBRE in Phoenix represented the seller in the bulk sale.

For more information, Gabel can be reached at 602.735.5555 and Skillings should be contacted at 520.326.2200.

To learn more, see RED Comp #7223 and #7306.

TUCSON, ARIZONA – In the highest sale price this year, Aspire Tucson Student Housing tower at 950 Tyndall Avenue in Tucson sold for $96,732,000 ($192,300 per bed) to Chicago-based, Heitman Capital Management.

Located at the southeast corner of First Street and Tyndall Avenue, the 10 story tower with double story penthouse and deck pool was built in 2017 by Dallas-based, Dinerstein Companies with studios, one-bedrooms, two-bedrooms, four-bedrooms, five-bedrooms and six-bedrooms, that total 149-units and 503 beds. Sterling- Tucson, an affiliate of Sterling University Housing is a wholly owned subsidiary of Dinerstein Companies, which sold the property fully furnished and leased; a declared value of $13.74 million for personal property.

Aspire is a LEED Certified building, an international recognized green building certification system developed by the U.S. Green Building Council (USGBC). The voluntary LEED program provides third-party verification that a project meets guidelines set by the USGBC for achieving high performance and sustainability through green design, construction, operation and maintenance.

As such, it is constructed to reduce carbon footprint with:

• Covered Bicycle Racks – 102 bike parking spaces
• Carpooling/Rideshare Program – 146 parking spaces
• Close to Mass Transit/Retail/Restaurants
• Bum-A-Bike Program

Built to reduce water usage by 25-40% and energy usage by 17-30% with:

• Water Efficient Fixtures
• Drought Tolerant Landscaping
• ENERGYSTAR Windows and Kitchen Appliances
• Energy Efficient HVAC, Tankless Water Heaters and Lighting
• Programmable Thermostats
• High Grade Air Filters (MERV 8)
• Energy Efficient Air Conditioning and Heating

Other Green Features include on-site recycling, low VOC finishes, carbon monoxide monitors, and green label carpet and padding.

Dinerstein has recently broken ground on Aspire II, an 8-story tower at 947 N Park Ave., the southwest corner of Park Ave. and First Street. We were told this project  is expected for completion in 2021.

Jaclyn Fitts, Executive Vice President, Student Housing with CBRE Dallas, William Vonderfecht, First Vice President, Student Housing, with CBRE Dallas, W. Michael Sandahl, Vice Chairman, Tucson Multifamily, and Casey Schaefer, First Vice President, Student Housing handled the transaction for the seller.

For more information, Sandahl can be reached at 520.323.5100 and Fitts can be contacted at 214.979.6524.

To learn more, see RED Comp #7351.