Oro Valley, Arizona – A single tenant medical building at 1856 E Innovation Park Drive in Oro Valley sold in an investment sale for $1.32 million ($233.46 PSF). The 5,654-square-foot building was purchased by California investor, La Mantia Family 2001 Trust, and was fully occupied by Oro Valley Pediatrics.

A group practice with a single location, Oro Valley Pediatrics specializes in Pediatrics with four physicians. The office offers separate sick and well waiting areas and provides a more home-like environment for families. Physicians offer traditional pediatric care as well as some alternative care including a referral base to traditional and alternative care pediatric providers.

Oro Valley is located north of Tucson. The Medical Office is adjacent to Oro Valley Hospital and Oro Valley Marketplace is anchored by tenants such as Walmart, Best Buy, Dicks Sporting Goods and more.

Tony Reed with Long Realty represented the seller, Roberts-Smith Properties, LLC Trust (Dr. Carl Robert, manager) in the sale leaseback transaction. Rick Kleiner of Cushman & Wakefield | Picor represented the investor.

For more information, Reed can be reached at 520.918.5189 and Kleiner should be contacted at 520.546.2745.

To learn more, see RED Comp #6400.

MESA, ARIZONA – Sonora Vista Apartments, located at 9736 East Balsam Avenue in Mesa, Arizona sold this month for $22,500,000 ($122,283 per unit).

The NorthMarq team of Bill Hahn, Trevor Koskovich, and Jesse Hudson represented both the seller and the buyer in this transaction.

Mesa Leased Housing Associates II, LLC and entity formed by Dominium of Plymouth, Minnesota were the buyers.

“Sonora Vista was a long-term investment for the sellers who were looking to liquidate in the booming Phoenix multifamily market place,” said Hudson. “The buyers believed it was a strategic acquisition with huge operational upside due to the fact that the affordable rental restrictions were removed and renovating and rebranding the asset will increase rents significantly.”

Two entities formed by Atlantic Development of Scottsdale, Arizona were the sellers.

The 184-unit Sonora Vista apartment community, built in 2001, comprises 38 percent two-bedroom units, 42 percent three-bedroom units, and 20 percent four-bedroom units. The property, located on the north side of Balsam Road east of Ellsworth Road, is situated in the East Valley Mesa submarket. Major employers in the immediate area include Boeing and Banner Health. The Mesa multifamily market has recently shown an uptick in development activity as strong vacancy compression and record rent growth have corresponded with apartment construction. Further, investors have been increasingly active in the submarket and consistently target value-add opportunities, pushing prices to all-time highs in 2018.

TUCSON, ARIZONA – The Tucson Museum of Art (TMA) is pleased to honor Andy Anderson with the museum’s 2019 Ambassador Circle Lifetime Achievement Award.

Launched in 2017, the Ambassador Circle Lifetime Achievement Award celebrates the career of an artist, patron or community member who has demonstrated a passion and commitment to the advancement of Southern Arizona arts and the Tucson Museum of Art and Historic Block. Previous recipients of the Ambassador Circle Lifetime Achievement Award include Thomas Philabaum (2018) and Jim Waid (2017).

According to TMA CEO Jeremy Mikolajczak, “Andy’s Board leadership and his extensive experience in architecture and planning have been critical in transforming TMA into a regional showcase for fine arts – a modern museum and arts education facility that honors the history and culture of Tucson.”

Anderson has provided decades of Board participation and extensive pro bono expertise to TMA, helping to improve TMA facilities and promote success. In addition to serving on the Board, being a former TMA Board president and current Trustee emeritus, Anderson has been integral to TMA’s design, renovation and master planning for nearly 50 years. He helped to design the downtown Museum while with William Wilde and Associates in 1970. He later created a master plan and designed renovations in 1983 and 2017. Anderson is also currently designing the Museum’s Kasser Family Wing, expected to open in fall 2019, and the new 22,000‐square‐foot Alice Baker Center for Art Education, slated to open in the summer.

A panel that includes members of the TMA’s Leadership Circle, the museum’s foremost philanthropic membership group, and Museum staff, review nominations and select the recipient of the Ambassador Circle Lifetime Achievement Award. Joyce Broan, Chair of the TMA’s Leadership Circle, said, “On behalf of TMA’s membership, we recognize Andy’s unparalleled contributions of design, expertise and most of all, heart. He has quite literally built our foundation and his vision has gone hand in hand with TMA’s vision over the decades.”

Andy Anderson will receive the Ambassador Circle Lifetime Achievement Award and be honored at an event hosted by CEO Jeremy Mikolajczak in February.