TUCSON, ARIZONA — The Tucson Fire Department responded to a fire inside the Safeway at 8:08 p.m. located in the 1900 block of East Broadway Blvd. Friday evening. Multiple calls were made to 911 reporting the fire inside the Safeway and the first TFD unit on scene confirmed heavy smoke coming from the store as they pulled into the parking lot.

Initial reports were that an employee noticed the fire and another employee tried to extinguish the flames with a fire extinguisher. This slowed the growth of the fire dramatically.

Fire alarms were sounding with employees and patrons evacuating the store as additional TFD crews arrived on scene. A second alarm was called by command upon arrival due to the size of the building, which would bring additional personnel to the scene.

Firefighters pulled hose lines into the store to locate the fire and extinguish the flames. Firefighters did locate the fire in a particular aisle and were able to extinguish the flames. The sprinkler system had also activated which kept the fire from growing.

Once the flames were initially extinguished at 8:35 p.m., efforts were made to begin ejecting as much residual smoke from the building as possible. High powered fans were put in place to blow smoke out of the building, reducing smoke damage. Firefighters also continued to ensure the fire didn’t spread into the ceiling of the building with crews making their way to the roof with thermal imaging cameras.

Nine TFD units consisting of 25 firefighters were involved in the initial dispatch and most of the second alarm units were able to cancel before being utilized on scene. Approximately 15 employees 30 patrons evacuated the store safely. Fire investigators were on scene working to determine the cause and origin of the fire. Building Safety/Code Enforcement and the Health Department were also called to the scene to assist Safeway.

Origin, cause of fire and damage estimates are still to be determined.

TUCSON, ARIZONA – Richmond American Homes has acquired an additional 74-lots at La Estancia for $4.023 million ($54,360 per finished lot). The 45’ wide lots are the next phase of current offering with Richmond that is priced at $1,208 per finished lot frontage.

Richmond is finishing its first 99-lots that started in 2017, and this is the second phase of an option agreement with Sunbelt Holding, the developer of La Estancia.

La Estancia, a 556-acre master planned community, offers master-planned living in this prime southeast submarket. Centrally located just off of I-10 and Wilmot Road and nearby some of Tucson’s most prominent employment centers including Raytheon Missile Systems, Davis Monthan Air Force Base, U of A Tech Park and the Tucson International Airport. Residents benefit from community amenities including a sparkling pool, splash pad, shaded ramadas and play equipment, ready for use.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction for buyer and seller.

“La Estancia has started the year strong once again,” said White. “The project is known as one of the Tucson market’s best performers and in 2019 will go from 2 to 3 homebuilders up and running. We expect to see even stronger sales and home pricing out of this project this year. From the inventory standpoint, we only have a couple blocks available this year for 2020 community openings and we expect those to be picked up by homebuilders in the next few months. At the price point and location, this project continues to check all the boxes that homebuilders are looking for.”

White and Carroll also handle all the marketing at La Estancia for Sunbelt Holdings.

For more information, White and Carroll should be reached at 520.514.7454.

To learn more, login and see RED Comp #6594.

[mepr-show rules=”58038″]Sale date: 2/22/2019. Sale price: Recorded at $2,445,005 however we confirmed $4,022,640 as finished lot price, $1,208 per finished lot frontage and $54,360 per finished lot.[/mepr-show]

Phoenix, Ariz. – Lee & Associates Arizona Principal Andrew Ogan recently brokered two separate transactions, totaling 183,078-sqaure-feet, for a combined sale price of $13,826,481.

One West Deer Valley Road, Phoenix:

Layman Properties LLC (Eric Webb, Manager), a California limited liability company, purchased a 48,703-square-foot, three (3) building multi-tenant office and industrial project from One Deer Valley VJ LLC (Vance Marshall, Manager), an Arizona limited liability company. Ogan represented Layman Properties while Lee & Associates Arizona Principal Matt Hobaica represented the seller.

Purchased for $5,350,000 ($109.85 per square foot), the property includes a 21,181-square-foot office building and two (2) 13,261-square-foot industrial buildings. The property is currently 100% leased, but Lee & Associates Arizona Principal Scott Smith, who also assisted the buyer, will handle the leasing on the industrial buildings moving forward. Lee & Associates Arizona Principal Adam Tolson will handle the office building leasing.

“After disposing of an industrial asset in La Palma, Calif., Layman scoured the southwestern US for a replacement property. They ultimately elected to invest in Phoenix due to the strong creditworthiness of the tenants, favorable cap rate arbitrage and sound market fundamentals poised for sustained growth and capital appreciation,” stated Ogan.

2020 East University Drive, Phoenix: 

TWT Real Estate Investments LLC (Terry Thomas, Manager), an Arizona limited liability company, sold a 134,375 SF dock-high distribution building to Layman Properties – East University Drive LLC (Eric Webb, Manager), a Delaware limited liability company, for $8,476,481 ($63.08 per SF). Ogan represented the buyer and the seller. Wells Fargo Real Estate Capital Markets provided $3,000,000 in financing.

Located at 2020 East University Drive in Phoenix, the property already has two tenants on the 6.20 acres. Iron Mountain leases 51,974 square feet and Arizona Wholesale Supply Company leases 82,401 square feet. Arizona Wholesale Supply built the building in 1967 for themselves with the opportunity to lease a portion out for income. Started in 1944 by the Thomas family, Arizona Wholesale Supply sold the company in Q4 2017 and recently sold the property.

For information on industrial leasing, contact Scott Smith at [email protected] or 602-954-3768. For information on the office building leasing, contact Adam Tolson at [email protected] or 602-954-3771.