TUCSON, ARIZONA — The Apex Real Estate Network of KW Commercial is pleased to announce the sale of the St. Philips Corner Apartments, located along the heavily traveled Campbell thoroughfare in Tucson, Arizona. The 62-unit property sold for $5.5 million or $88,709 per unit.

“The buyer’s agents contacted me just before the listing was set to go active and they were eager to get in front of the property for their clients who were entering a 1031 exchange out of Chicago,” said Chris Itule with The Apex Real Estate Network of KW Commercial. “They promptly submitted an LOI that caught the seller’s attention and we were in escrow shortly thereafter.”

St. Philips Corner Apartments is located at 3993 N Campbell Ave Tucson, AZ 85719 on the southwest corner of Campbell Ave & Roger Rd just south of the Catalina Foothills.

Built in 1976, the master metered property was immaculately maintained by the seller who owned the asset since 1998.

“The property location and condition was the driving force for the acquisition of the property,” stated Jade Bossert of Tierra Antigua. The property sits directly south of The University of Arizona Agricultural Center which provides unobstructed views of the Catalinas.

Chris Itule of The Apex Real Estate Network of KW Commercial represented the seller with the Thrasher Law Firm, PLLC providing legal consul. Jade Bossert and Charlie Spaulding III of Tierra Antigua Realty represented the buyer with Remick West-Watt, PLC providing legal consul.

For more information on this transaction, Itule can be reached at 520.441.3993 and Bossert is at 520.797.6900 and Spaulding can be contacted at 520.488.9091.

To learn more, see RED Comp #7225.

TUCSON, Ariz. – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Walgreens, an absolute triple-net-leased property in Tucson, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix and Tucson offices, the asset sold for $4.15 million ($290 PSF).

Jonathan Eckerd, Jamie Medress, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a limited liability company, was procured by David Berookhim and Rick Raymundo, investment specialists in the firm’s Los Angeles office.

Walgreens is located at 9250 North Coachline Boulevard in Tucson in a high-growth area containing 47,766 residents within five miles with a projected increase of 18%. The property is less than one mile from the Interstate-10 and minutes from Tucson Premium Outlets and other major national retailers.

TUCSON, ARIZONA — Espinosa Garnica, LLC purchased a 59,500-square-foot industrial building located at 3350 E. Mossman Rd., 3355 E. Bilby Rd., and 6060 S. Brosius Ave. in Tucson, from Palo Verde II, LLC for $2.015 million ($34 PSF).

The building that sits on 4.1 acres, was vacant at time of sale and buyer purchased to owner occupy for a bakery manufacturing company.

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

For more information, Hall can be reached at 520.546.2747, Cohen is at 520.546.2758 and Glaser is at 520.546.2707.  Fisher can be contacted at 520.546.2709.

To learn more, see RED Comp #7222.