RHP Properties expands Arizona presence – now at nine properties

FARMINGTON HILLS, Mich. – RHP Properties has announced the acquisition of two manufactured home communities in Tucson, Arizona. The company completed the purchase of Cielo Vista, 185 home sites, and Arizonan, 63 home sites; bringing its total of manufactured home communities in Arizona to nine and 258 communities nationwide. The announcement was made by Ross H. Partrich, CEO, RHP Properties.

Cielo Vista and Arizonan are located in northern Tucson off Interstate 10 and are in close proximity to major retail outlets and the University of Arizona. Both are all-age family communities with shopping and restaurants within walking distance and with convenient access to public transportation. Cielo Vista’s amenity package includes a pool, two clubhouses and access to Jacobs Park, a multi-purpose city park which features a pool and many sports venues. Defense installations also are nearby, as well as many companies involved in the design and manufacture of optic systems.

According to public records, Ciela Vista sold for approximately $11 million or $59,500 per space and the Arizonan sold for $3.85 million, or approximately $61,000 per space. The $ 14.85 million portfolio sold for an aggregate of $60,000 per space for all 248 spaces.

“RHP Properties is pleased to announce the expansion of our portfolio of high-quality manufactured home communities in Arizona,” said Partrich. “We look forward to our continued investment in the city of Tucson and providing the residents of Cielo Vista and Arizonan our 30-plus years of stable ownership and management experience.”

With these acquisitions, RHP Properties now owns and operates 258 manufactured home communities totaling more than 64,341 home sites.

PHOENIX, Arizona – Cushman & Wakefield announced that MIG Real Estate LLC sold Arcadia Gateway Center. Clayton A. Varga, trustee of the Varga Revocable Trust, purchased the property located at 4222 E. Thomas Road in Phoenix for $17.25 million ($191 PSF).

Arcadia Gateway Center is a four-story, 90,225-square-foot Class A multi-tenant office building. Currently 96% leased and constructed in 1999, the building offers a three-story parking structure, building signage, large L-shaped floor plates and fast access to Sky Harbor International Airport and the Loop 101, 51, 143 and 202 Freeways. Ideally positioned west of the northwest corner of Thomas Road and 44th Street, the property is in close proximity to over 75 restaurants and over 3 million square feet of retail within one mile.

Eric Wichterman, Mike Coover and Tim Whittemore of Cushman & Wakefield Phoenix represented the seller in the transaction and McAlister Cleary of Marcus & Millichap represented the buyer.

Wichterman stated, “Arcadia Gateway has achieved impressive leasing success and is a proven force in the northern portion of the 44th Street Corridor. The new ownership will enjoy reliable cash flow and healthy lease rate growth as the property continues to thrive due to a collection of strong fundamentals, including its close proximity to the prestigious Arcadia and Paradise Valley neighborhoods and a superb collection of restaurant amenities.”

Apply by July 7, 2019, for October Big Bend trek

TUCSON, Ariz. — Disabled veterans in Alabama, Arizona, New Mexico, Oklahoma and Texas can now apply for the 2019 No Barriers Warriors Big Bend Veteran Wilderness Expedition funded by Raytheon Company (NYSE: RTN). In October, the non-profit No Barriers USA will lead a team of 10 disabled veterans on a nine-day journey of discoveries and challenges in Big Bend National Park, Texas and on the Rio Grande River. Disabled veterans from all military branches and eras of service can apply.

To be considered for this year’s expedition, disabled veterans should apply by July 7, 2019, through the No Barriers Warriors website. Once selected, team members must train for the journey and commit to the nine-day adventure. Participants pay nothing for the expedition; Raytheon underwrites the entire trip.

“No Barriers expeditions are truly transformative experiences,” said Jon Kasle, vice president of Communications for Raytheon Missile Systems. “This year’s trek is an amazing opportunity for veterans to challenge themselves and bond with fellow veterans in one of the country’s most remote and beautiful regions.”

By combining comprehensive curriculum with physically challenging activities such as long-distance hiking and rafting, disabled veterans gain new strategies and skills that help them confront and overcome barriers. Participants take part in online coursework before and after the expedition to internalize the “No Barriers Life” and receive continual support throughout all phases of the expedition.

This is the sixth year Raytheon and No Barriers have partnered for a veteran wilderness expedition. Previous journeys took teams to the Grand Canyon in Arizona, Rocky Mountains in Colorado and the Wind River Range in Wyoming.