TUCSON, Arizona – 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 Arbor Villas, a 114-unit apartment property located in Tucson, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix and Tucson offices. The asset sold for $6.5 million

Hamid Panahi and James K. Crawley, investment specialists in Marcus & Millichap’s Tucson office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a limited liability company, was secured and represented by Hamid Panahi and James K. Crawley.

“Arbor Villas offers an exceptional value-add opportunity to reposition the asset by implementing an exterior and interior renovation program,” said Hamid Panahi.

“The properties unique physical characteristics and below market rents, combine to make a great opportunity for the buyer to increase revenue post renovation,” said James Crawley.

Arbor Villas is located at 1625 E Prince Rd in Tucson, AZ.

Scottsdale Developer to Build Class A Project in Cave Creek

Scottsdale, Arizona – Scottsdale-based 1784 Capital Holdings, LLC, has purchased five acres located at 4725 E. Dynamite Blvd. in Cave Creek, Arizona. The developer of high-end self-storage facilities plans to create a state-of-the-art facility on the site.

“This area in the northern portion of Metro Phoenix is one of the fastest growing in the state,” says Shane Albers, Chairman and CEO of 1784 Capital Holdings. “As residential and business growth continues to expand in the area, we see an opportunity to provide much-needed, high quality storage facilities. We provide a superior customer experience, unparalleled amenities, cleanliness and security.”

The property is situated at the southwest corner of the intersection of Tatum and Dynamite Boulevards. The intersection also features two retail centers and is surrounded by schools, residential communities, churches and equestrian facilities.

“This area of north Phoenix is experiencing a pent-up demand for high quality, climate-controlled storage space,” says Kelly McKone, Executive Vice President of Real Estate for 1784 Capital Holdings. “As more residents relocate to this part of the city, the need for more storage will only increase.”

Tatum Self-Storage will feature three stories above ground and one below ground, totaling ±120,182-square-feet of space. The Class A, climate-controlled development will include convenient ingress/egress, diamond polished floors, state-of-the-art security and a variety of tenant services. Completion of the project is planned for first quarter 2020.

Waived adoptions for “Volunteer Picks”

PIMA COUNTY –Pima Animal Care Center is waiving adoption fees for some of the pets at the shelter in April, courtesy of its volunteers.

The adoption promotion will apply to “volunteer picks.” These pets will have a kennel card that reads “I’m a PACC Volunteer Pick! My fee is waived!” The cards will also include text from the volunteers with details about that pet.

The discount runs for the entire month of April. National Volunteer Week takes place the third week of April each year. PACC officials decided to highlight volunteers, and waive fees on selected pets for the entire month.

Throughout April, the shelter also will be making several social media posts thanking all the different types of volunteers at the shelter. Anyone interested in volunteering, can visit the website.

PACC currently has 356 dogs and puppies and 73 cats and kittens at the shelter.  All pets adopted will come spayed or neutered, with age-appropriate vaccinations, a microchip and a free vet visit. A $19 licensing fee will apply to dogs.

PACC is located at 4000 N. Silverbell Road, open Monday through Friday, noon-7 p.m. and 10 a.m. to 5 p.m. on the weekends.