Tucson, Arizona – CBRE has arranged the $1.8 million ($59 PSF) sale of a 30,600-square-foot retail property on 2.07 acres located in an opportunity zone at 3655 East Grant Road in Tucson.

Nancy McClure of CBRE in Tucson represented the buyer, El Rio Santa Cruz Neighborhood Health Center, Inc., in the transaction.

Situated at the northwest corner of Grant Road and Dodge Boulevard, the two-story building has served as a bank branch since it was built in 1968. The property benefits from a strong urban infill location and accessibility to the University of Arizona, downtown Tucson and Interstate 10.

The new owner-user plans to convert the former Wells Fargo bank into a community healthcare center, dba El Rio Community Health Center.

In the late 1960s, President Lyndon B. Johnson declared a “War on Poverty” and the concept of neighborhood health centers was born. The first El Rio neighborhood health center opened in October of 1970.  Against this national backdrop, local advocates on the west and south sides of Tucson were building new communities in the barrios and fighting for basic services including healthcare.

At the same time, the founding dean of the new College Of Medicine at the University of Arizona – Dr. Merlin DuVal – wanted a new way to train young medical students and saw that a neighborhood health center would provide that opportunity while serving the healthcare needs of the underserved. He enlisted the help of Dr. Herb Abrams who had already worked with a community in Chicago to build one of the first centers there. Abrams connected with local leaders in the barrios and enlisted their support.

In 1970, with the donation of a building by Pima County and $50,000 for renovations, along with a federal grant, the first El Rio neighborhood health center opened with a small staff of health professionals offering primary medical and dental care. El Rio Health is now one of the largest, most highly regarded integrated health centers in the country serving over 104,000 people at multiple locations throughout Tucson. El Rio currently employs 1,300+ with an annual budget of $147M.

For more information, McClure can be reached at 520.323.5117.

GILBERT, 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 Goodyear Auto Service, a double-net-lease property located in Gilbert, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,700,000.

Mark Ruble, Chris Lind and Jamie Medress, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

Goodyear Auto Service is located at 680 West Ray Road in Gilbert, Arizona. They have a 20-year operating history at this location with over four years remaining on their lease term. The nearby intersection of Ray Road and Cooper Road sees over 46,400 vehicles per day. This property is positioned within a high growth area, with households in a five-mile radius of the property expected to increase more than 10% by 2023. There are approximately 333,614 residents living within five miles of this Goodyear Auto Service and the average annual household income exceeds $112,000 in the immediate area.

TUCSON, Ariz. — The U.S. Air Force announced plans to continue with Raytheon Missiles & Defense, a business of Raytheon Technologies (NYSE: RTX), on the development of the Long-Range Standoff (LRSO) cruise missile, a strategic weapon that will replace the service’s legacy Air-Launched Cruise Missile.

“LRSO will be a critical contributor to the air-launched portion of America’s nuclear triad,” said Wes Kremer, president of Raytheon Missiles & Defense. “Providing a modernized capability to the U.S. Air Force will strengthen our nation’s deterrence posture.”

In 2017, the U.S. Air Force awarded Raytheon and Lockheed Martin contracts for the Technology Maturation and Risk Reduction (TMRR) phase of the program. The Raytheon Missiles & Defense LRSO team recently passed its preliminary design review and is on track to complete the TMRR phase of the defense acquisition process by January 2022.

Contract negotiations for the engineering and manufacturing development phase, with a strong focus on schedule realism, affordability, and cost-capability trades, will start in fiscal year 2021. The contract award is anticipated in fiscal year 2022.

To view the U.S. Air Force’s announcement, click here.