Thursday, August 17, 2017

Two Tucson Retail Properties Sold for $555,000

TUCSON, ARIZONA – Head Hunters Smoke Shop, LLC purchased the property located at 5830-5850 East Speedway Boulevard in Tucson, AZ for $275,000 ($20.74 PSF). The value-add property consists of an approximately 13,257-square-foot building on 34,407-square-feet of land. Buyer was a tenant prior to sale and will continue to occupy a...

Clayton Companies Acquires Additional Asset in Old Town Scottsdale

Cushman & Wakefield Represents Buyer in $1.65 Million Purchase PHOENIX, Arizona – On behalf of Clayton Companies, Cushman & Wakefield recently negotiated the purchase of 3944 North Marshall Way in Scottsdale, Ariz., for $1.65 Million ($215 PSF). Michael Kitlica with Cushman & Wakefield consulted for the buyer. Walt Danley and...

Rent Growth Spurs Investment in Tucson Multifamily Market

Mixed Signals Posted in Second Quarter Include Higher Vacancy Phoenix, Arizona – The Tucson multifamily real estate market posted mixed results during the second quarter of 2017, according to a report released by Colliers International in Greater Phoenix.  Significant rent growth is motivating more investment in the marketplace, despite higher...

CoreNet Global Arizona Explores Internet of All Things

PHOENIX, ARIZONA – The Internet has changed how industry – including the commercial real estate community – conducts business. At its next three events, CoreNet Global Arizona will explore how a connected world is transforming its interaction with the workforce. Part I, Transportation, is scheduled for Thursday, August 24, at Phoenix...

Real Estate Daily News Buzz Aug. 17, 2017

Real Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you...

Mission Palms Apartment in Northwest Tucson Sells for $37.25 Million

TUCSON, ARIZONA -- Berkadia recently handled the $37.25 million ($103.472 per unit) sale of Mission Palms, a garden-style multifamily property located in Tucson, Arizona. Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of the Tucson office represented both the buyer, ROC Senior Living, and the seller, Stoneweg...

Irgens Sells Shea Medical Plaza for $11.6 Million

Ohio Investor Expands Portfolio with Medical Office Building PHOENIX, ARIZONA --  Irgens Partners, LLC  has completed the $11.65 million ($275 PSF) sale of Shea Medical Plaza at 7425 E. Shea Blvd. in Scottsdale. The 42,439-square-foot medical office building was built in 1999.  Shea Medical Plaza is 100% leased and anchored by...

NAI Horizon Tucson negotiates $1.14M retail deal on 4th Avenue

TUCSON, ARIZONA – Vice President David Blanchette, CCIM, of the NAI Horizon Tucson office negotiated the $1.14 million ($194 PSF) acquisition of a 5,874-square-foot retail property at 522 N. 4th Ave., in Tucson. NAI Horizon represented the seller, Stan S. Katz of Encinitas, Calif., in the transaction. Doug Jones of...

NAI Horizon, NAI Martens negotiate $3.85M Okla. self-storage sale

PHOENIX, ARIZONA – NAI Horizon Senior Vice President Denise Nunez partnered with Kris Wessel, a commercial specialist with NAI Martens, in negotiating the $3.85 million ($6,672 per unit) sale of Reno Avenue Self Storage in Oklahoma City. Nunez and Wessel represented the seller, a regional self-storage owner/operator. Adam Slovis of...

Real Estate Daily News Buzz Aug. 16, 2017

Real Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you...

Epic Real Estate Partners Buys Ventana Village for $21.55 Million

TUCSON, ARIZONA – Epic Real Estate Partners purchased Ventana Village, a 110,116-square-foot grocery-anchored neighborhood center at 6860-6920 East Sunrise Drive in Tucson, Arizona for $21.55 million ($196 PSF). Strategically positioned at the intersection of Sunrise Drive and Kolb Road, Ventana Village is 90.8% occupied and anchored by a high-performing Basha’s...

CBRE Completes Record Sale of a Pei Wei Ground-Lease in Phoenix

PHOENIX, Arizona – CBRE has completed the sale of a new Pei Wei ground-lease located at 10450 North 28th Dr. in a dense infill area of Phoenix. The 3,100-square-foot retail property is home to Pei Wei’s new prototype restaurant, which opened in December 2015. The restaurant commanded a sale price...
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