Monday, May 21, 2018

Tucson Lease Report May 14-19, 2018

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from May 14-19, 2018. OFFICE – 2102 N. FORBES BLVD., TUCSON Mettler–Toledo Thorton, Inc. renewed their lease for 8,050-square-feet at 2102 N. Forbes Blvd., Suites 103-107 in Tucson, from East Park VI Holding Company,...

NAI Horizon negotiates long-term industrial lease for distribution firm

PHOENIX, ARIZONA – NAI Horizon Senior Vice President Jeff Adams represented the tenant in negotiating a long-term lease for a Gilbert-based distribution company at 2075 W. Obispo Ave., in Gilbert, Arizona. NAI Horizon represented AES Direct Express, LLC, an Arizona limited liability company in the industrial lease worth $1.676 million....

Davis-Monthan named top base in the Air Force for the Second...

To be awarded accolades that include $700,000 for base improvements TUCSON, ARIZONA -- Davis-Monthan Air Force Base (D-M) in Tucson Arizona is reporting the Office of the Secretary of Defense named Davis-Monthan the top base in the Air Force for the second time in six years. The base won the 2018...

IPA Sells Valley View Multifamily Asset in Tucson for $24.75 Million

TUCSON, Ariz. – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announces the sale of Valley View Apartments, a 304-unit multifamily asset in the Catalina Foothills area of northern Tucson, Arizona. The $24.75 million sales price equates to $81,414 per unit. “Valley View represents an excellent...

Fiesta District Shopping Center Trades for $2.8 Million

PHOENIX, Arizona – CBRE negotiated the sale of a Mesa shopping center located near the intersection of Southern Avenue and Dobson Road. Wong 168, LLC, based in Novi, Michigan, purchased the property from 2120 Southern Avenue, LLC, a group formed by local developer Jeff Geyser, for $2.8 million ($262...

NAI Horizon negotiates $3.23M sale of Surprise office building

PHOENIX, ARIZONA – NAI Horizon represented the seller in the $3.23 million sale of an office building at 14780 W. Mountain View Blvd., in Surprise. NAI Horizon Senior Vice President Tyler Smith, along with Marcus Muirhead of Lee & Associates, represented the seller, Surprise Mountain, LLC of Bellevue, Washington. “The property...

Landsea Homes Acquires Land in Chandler for First Arizona Community

Chandler, Arizona —Landsea Homes announced a strategic expansion with the purchase of land in Chandler for the homebuilder’s first community in Arizona, slated to star in Fall 2018.  The company has developed homes in New York, Boston, New Jersey, and throughout California in Silicon Valley, Los Angeles and Orange County. “We...

Volk Closes 3 Office Deals in 7 Days – Tucson Office...

TUCSON, ARIZONA – Office and medical office sales volume surpassed the $22 million mark in metro Tucson in Q1, up 17.79% over one year ago. The average sale price was $588,315 and median price $356,750, all trending in a positive direction. The highest sale price was $3.25 million for 6950...

SanTan Village Marketplace Trades for $51.4 Million

Cushman & Wakefield Sells Premier Power Center in Gilbert, Ariz. PHOENIX, Arizona – Cushman & Wakefield completed the sale of SanTan Village Marketplace, a premier destination center located in Gilbert, Ariz. Michael Hackett and Ryan Schubert of Cushman & Wakefield Phoenix represented the seller. An entity formed by CP Retail...

North Central Phoenix Neighborhood Center sells for $5.225 million

PHOENIX, ARIZONA -- Neighborhood retail center, Mountain View Plaza, recently sold for $5,225,000. The property consisted of three buildings totaling just over 26,000 SF on approximately 2.70 acres.  The retail plaza is located at 9812 – 9832 N. 7th St. in Phoenix, which is in close proximity to North...

NorthMarq secures $46.15 million in financing for spec office project in...

CHANDLER, AZ – Eric Flyckt, senior vice president and Wyatt Campbell, vice president of NorthMarq Capital’s San Diego office, arranged a $32,650,000 construction loan and $13,500,000 mezzanine equity investment for a Class A spec office project located in Chandler, Arizona. The development comprises two, three-story, buildings totaling 270,000-square-feet. The non-recourse...

Northwest Emergency at Marana Center Ground Lease Sells for $2.8 Million

MARANA, ARIZONA -- 6350 Marana, LLC, an affiliate of Miravest, Inc. of Marana (Michael Rabstoff, manager) sold the newly constructed Northwest Emergency Center ground lease at 6350 W Marana Center Blvd. in Marana for $2.775 million ($29 PSF). The 2.2-acre site with an 11,500-square-foot Emergency Center was built-to suit...
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