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Many of Arizona’s successful charter schools have long waiting lists with an 8% annual enrollment growth each year. There are a reported, 145,000 students enrolled in 535 charter schools statewide. Here in Tucson, as the school year drew to a close Friday several charter schools were packing to move into new schools for the Fall.

Charter School Capital of Portland, OR dba Arizona College Prep Academy, will be moving from 7444 E Broadway Blvd into the 11,308 sq. ft. retail building (built 1977 and 2007) at 3434 E Broadway in Tucson. The building formerly occupied by BASIS Schools was purchased from BASIS for $1.4 million ($124 PSF). Located on the south side of Tucson’s main thoroughfare, Broadway Blvd. on .95 acres, it is directly across the street from the El Con Mall and Reid Park. The Arizona College Prep Academy will be relocated this summer in preparation for the 2013-2014 school year to commence in August.

Nancy McClure of CBRE in Tucson represented the buyer in the transaction.
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BASIS Schools at 3825 E 2nd Street purchased the property immediately adjacent to the existing school, formerly occupied by Desert Springs Academy, at 3833 E 2nd Street (built 1966) paying $1.65 million for the 8,801 sq. ft building on a 40,132 sq. ft. lot. The staff at BASIS was busy packing Friday in anticipation of the building being razed for construction of a new 2-story 42,468 sq. ft. school at this northwest corner of Alvernon Way and 2nd Street. BASIS currently serves 5th, 6th 7th grades and will introduce kindergarten through 4th grade for the 2013-2014 school year.

Carhuff + Cueva are the architects for the new building.

Desert Springs Academy will be moving to the property it purchased at 10129 E Speedway Blvd for $1.7 million cash ($96 PSF) for the 17,865 sq. ft. in three buildings (built 2003) on 8.9 acres. The property was formerly occupied by TAG Charter School that did not renew its charter for next year. Desert Springs is a K-8 charter school that plans to be open in its new location west of Houghton on Speedway for the coming school year.

Academy Del Sol, a K-8 charter school, is adding a second campus at 7102 W Valley Crest Place in the Star Valley neighborhood, located off Wade Road and Valencia in the West Valley. The school purchased 7.69 acres of vacant land for $1.007 million cash ($3 PSF) under the name of Schoolhouse Star Valley, LLC an affiliate of Schoolhouse Development from a trust managed by Joe Cesar of Broadway Realty and Trust of Tucson. The 32,000 sq. ft. building with 21 classrooms is currently under construction and scheduled to open July 29th for the new school year. The school’s Midtown campus is at 4525 E Broadway Blvd in Tucson.

GT Alley of Broadway Realty and Trust in Tucson represented the seller; while the buyer was self-represented in the transaction.

Mexicayoti Academy of Nogales, AZ a K-8 charter school, purchased from B77 Development, LLC (Clayton Niles, manager) the former charter school at 667 N 7th Ave in Tucson. The 7,627 sq. ft. building (built 1971) on a 20,328 sq. ft. lot sold for $475,000 ($62 PSF). Located at the southeast corner of 4th Street and 7th Avenue and close to U of A, this former charter school is in the West University Historical District. The building has fire retardant sprinklers, an alarm system and was designed to add a future 2nd floor. There are 8 back-in parking spaces on the street and 23 secured parking spaces of which 5 are covered. The transaction was an REO sale; the seller was also the lender in a seller carry back to the former charter school when it closed.

Gary Best and John Hamner of Keller Williams of Southern Arizona Commercial in Tucson represented the seller and Rafael Douglas of US Preferred Realty in Mesa represented the school.

For more information on Arizona College Prep Academy call (520) 722-1200. McClure at CBRE can be reached at (520) 323-5117. BASIS Schools can be contacted at (520) 326-3444. Desert Springs Academy is at (520) 321-1709. Academy Del Sol should be contacted at (520) 325-2800. Alley with Broadway Realty & Trust is at (520) 747-5700.

For more information on Mexicayoti Academy call (520) 287-6790. Niles can be reached at (520) 615-9500. Best and Hamner of Keller Williams Southern Arizona Commercial are at (520) 615-8400. Douglas of US Preferred can be contacted at (480) 756-9922. [/mepr-show]

RETAIL SPACE – 657 HWY 90, SIERRA VISTA

C-A-L Ranch Stores, Inc., of Idaho Falls, Idaho leased 72,436 sq.ft. and Hobby Lobby leased 54,811 sq. ft. at the former Walmart store vacant since 2010 in Plaza Vista Mall, 657 Hwy 90 in Sierra Vista. C-A-L Ranch Stores, offers a mix of merchandise including ranch and farm supplies, livestock, equine, pet feed and accessories,  work & western apparel and footwear as well as shop equipment, tools, hardware, lawn & garden supplies and a broad range of outdoor sporting goods. C-A-L recently opened its twenty-first location in Show Low and has announced plans to open additional stores in Laveen and Casa Grande markets during the third quarter of 2013. Other Arizona locations include Prescott and Flagstaff.

The company was founded in 1959 by Clinton Murphy, Allen Murphy and L.Wayne Murphy, thus the initials “C-A-L” in its brand and operates in Idaho, Utah, Nevada and Arizona with a Distribution Center in Payson, UT. While the company is no longer owned by the Murphy’s, the company is still privately held.

Jake Ertle of Rein & Grossoehme Commercial Real Estate Services in Scottsdale represented the landlord, LNR Property Corporation. Neil Board with Western Retail Advisors of Phoenix and Bryan Ledbetter of ZELL Commercial Real Estate Services in Phoenix jointly represented C-A-L Ranch. David Leathers of DE Johnson & Associates in Northbrook, IL represented Hobby Lobby. C-A-L Ranch plans to open in Sierra Vista first quarter of 2014 and Hobby Lobby plans to open fourth quarter 2013.

TENTATIVE LEASE RETAIL SPACE – 5625 E RIVER ROAD, TUCSON

Petco has requested bids for TIs as it considers a move to the 13,000 sq. ft., former Walgreens, in RiverCenter at Craycroft and River, 5625 E River Road in Tucson. The new space would be used to relocate the current Petco at 4625 N Oracle Road according to a Petco representative, but the lease on the new space has not been finalized with the landlord, Larsen Baker at this time. The contractor for Petco, Division II Construction has asked for sub bids to be returned by 5/30/13.

OFFICE SPACE – 100 N STONE AVENUE, STE 110, TUCSON

Tucson’s Gangplank, a non-profit collaborative workspace opened this week in 8,000 sq. ft. and another 2,000 sq. ft. of undeveloped space in the basement planned for audio and video studios at the Pioneer Building, 100 N Stone Ave, Ste 110 in Tucson.  Focused on economic and community development, Gangplank seeks to unite the creative class, bringing together diverse minds to create something greater than the individual and drive entrepreneurship and civic engagement. The move was made possible by the building owner, Holualoa Companies of Tucson, who donated the facility’s rent for the first six months. The Tucson office is one of four Gangplank locations in Arizona. The non-profit also just opened faciites in Sault St. Marie, Ontario, Canada and Richmond, VA.

INDUSTRIAL SPACE –  4700 S PARK AVE, TUCSON

Amarr Garage Doors, a North Carolina-based manufacturer of garage door systems (Richard Brenner, CEO) leased 7,878 sq. ft. at 4700 S Park Avenue from Ohio Street Building No. 2, LLP. Rob Glaser of Cushman & Wakefield / Picor Commercial Real Estate Services represented the landlord. Fred London of The Meridian Group, Inc. represented the tenant.

OFFICE SPACE – 3275 W INA ROAD, TUCSON

THM Publishing of Tucson leased 992 sq. ft. of office at 3275 W Ina Road in Tucson from Caldor Investments of Arizona. Tom Nieman of Cushman & Wakefield / Picor Commercial Real Estate Services handled the transaction.

To submit sales or leases please email to REDailyNews@outlook.com

TEMPE, Ariz. (May 24, 2013) – The City of Tempe announced today that Ryan Companies US, Inc. and Sunbelt Holdings will develop a site owned by ASU adjacent to Tempe Town Lake. The project is subject to city council approval of a development agreement within the next month, the City of Tempe statement said. State Farm will lease the office space and serve as the project’s anchor tenant for the multi-use project.

The Marina Heights project in Tempe will be the largest office development deal in Arizona history, with more than 2-million-square-feet to be constructed on more than 20 acres. Construction costs are estimated at $600 million.

The five-building campus will be leased by State Farm and become a hub to include a combination of new hires and existing employees who will provide claims, service, and sales support to State Farm customers. According to Phoenix Business Journal, early estimates range from 5,000 to 7,000 new jobs to be created.

“State Farm selected Tempe because it has a growing population with skill sets that match our customers’ needs,” said Mary Crego, Senior Vice President, State Farm. “The site along Tempe Town Lake gives our employees access to nearby amenities as well as easy connections to public transportation.”

“We look forward to having State Farm as a neighbor and to working with the company on a variety of programs including employee recruitment and academic programs for their staff,” said ASU President Michael M. Crow. “State Farm’s decision to lease the land owned by the university immediately adjacent to the ASU Athletic Facilities District is the first major step in the campaign to fund new and renovated sports facilities for the university. The Athletic Facilities District will be home to an exciting mixed-use development reflecting high quality and the best practices of sustainability. A high stature tenant such as State Farm will add to the luster of the district and validates its attractiveness.”

The project is being developed by Ryan Companies US, Inc. and Sunbelt Holdings. Tempe-based architectural firm DAVIS designed the project to include a 40,000 to 60,000-square-feet of retail such as restaurants, coffee shops and fitness facilities, and feature a 10-acre “lakeside plaza” open to the public.

In a separate transaction, CBRE completed a sale-leaseback of the State Farm Tempe Operations Center, a 372,408 sq. ft., 5-building corporate campus. The buyer was JDM II TOC, LLC of Phoenix. The campus is 100% occupied by State Farm Insurance that has signed a 10-year leaseback agreement. The insurer currently occupies about 1 million square feet of office space throughout the Phoenix Valley.

JDM and its principals, Jerry Colangelo, David Eaton and Mel Shultz purchased the campus for $73 million ($196 PSF). Built in 1999, the State Farm Tempe Operations Center is situated on 21 acres near Southern and Priest, within the master planned Fountainhead Corporate Park. The campus is comprised of four Class A office buildings and one inspection and storage facility, along with two above-grade parking structures.

Barry Gable, Mindy Korth and Chris Marchildon of CBRE in Phoenix represented the seller, State Farm Mutual Automobile Insurance Company of Bloomington, IL.

To contact State Farm’s Robert Villegas call (480) 293-6018. ASU’s Virgil Renzulli can be reached at (480) 965-8526. Sunbelt Holdings’ Heidi Kimball should be contacted at (480) 609-2304. Sara Dial of the Ryan Companies US, Inc. is at (480) 205-6034. The CBRE Team of Gable, Korth and Marchildon are at (602) 735-5555.