Tucson Lease Report June 17-21, 2019

Tucson Lease Report June 17-21, 2019

This week’s lease highlights include two large industrial leases, new retail including a City Tacos and the first dance studio coming to Vail.

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from June 17 thru 21, 2019.

INDUSTRIAL – 6908 E. CENTURY PARK DR., TUCSON
Micromex International leased a 141,913-square-foot industrial space located at 6908 East Century Park Drive from Century Park Properties, LLC. Jesse Blum and John Slattery of CBRE’s Tucson office handled transaction.

INDUSTRIAL – 6992 E. CENTURY PARK DR., TUCSON
Keefe Group, LLC expanded their current warehouse/ distributions space with the lease of an additional 30,000-square-feet of industrial space located at Century Park, 6992 East Century Park Drive, from Century Park Properties, LLC. John Slattery and Jesse Blum of CBRE’s Tucson office represented the landlord in the transaction.

OFFICE – 800 E. WETMORE ROAD, TUCSON
Tetra Tech leased a 3,847-square-foot office space located at 800 East Wetmore Road, Suite 230 from Floating Island Investments, LLC. The landlord was represented by David Montijo and Damian Wilkinson and the tenant was represented by David Volk of CBRE’s Tucson office and Nicole Bise of CBRE’s LA office.

RETAIL – 988 E. UNIVERSITY BLVD. TUCSON
Snakes & Lattes Tucson leased 3,526-square-feet at 988 E University Blvd in Main Gate Square. Tamra Williamson of Bourn Advisory Services, LLC represented the landlord, Marshall Foundation, in negotiating the lease.

RETAIL – 6421 N ORACLE ROAD, TUCSON
Gamez Rascon Investments has signed a lease for a 2,630-square-foot space at 6421 N. Oracle Road, in Orange Grove Village located at the northwest corner of Oracle Road and Orange Grove Road, Tucson, AZ. The company plans to open City Tacos, a new Mexican café and cantina, in the fourth quarter of 2019.

RETAIL – 943 E. UNIVERSITY., TUCSON
Pizzeria Quattro, LLC dba Bacio Italiano leased 2,592-square-feet at 943 E University Blvd, Suite 125 in Main Gate Square. Tamra Williamson of Bourn Advisory Services, LLC represented the landlord, Marshall Foundation, in negotiating the lease.

OFFICE / RETAIL – 6437 N. ORACLE ROAD, TUCSON
Renewal Wellness has signed a lease for a 1,851-square-foot space at 6437 N. Oracle Road in Orange Grove Village located at the northwest corner of Oracle Road and Orange Grove Road, Tucson, AZ. Renewal Wellness is an integrated wellness center specialized in treating the whole person, mind, body, and sprit and provide services such as RN Consulting, Acupuncture, Homeopathy, Massage Therapy, and Nutrition and Lifestyle Coaching. The new office is expected to be open July 1, 2019.

RETAIL – 2960 N. SWAN RD., TUCSON
Winn Me, LLC, has leased 1,334-square-feet at 2960 N. Swan Road, Suite 216, Plaza Palomino, from WCCP Plaza Palomino, LLC.  Cameron Casey of Oxford Realty Advisors represented the Tenant and Andrew Sternberg of NAI Horizon represented the Landlord in the transaction.  The financial services company, Winn Me, LLC, is excited to move into their newly remodeled suite.

RETAIL – 943 E. UNIVERSITY BLVD., TUCSON
The Collective on 2nd leased 1,239-square-feet at 943 E University Blvd, Suite 101 in Main Gate Square. Tamra Williamson of Bourn Advisory Services, LLC represented the landlord, Marshall Foundation, in negotiating the lease.

RETAIL – 13190 E. COLOSSAL CAVE ROAD, TUCSON (VAIL), AZ
Integra Dance Arts signed a lease for two suites, a 1,200-square-foot space located at 13190 E. Colossal Cave Road, Suite 130, and a 604 square foot space located at 13190 E. Colossal Cave Road, Suite 210, at Old Vail Station located at the southeast corner of Colossal Cave Road and Mary Ann Cleveland, Vail, AZ. Integra Dance Arts will be Vail’s first dance school and will be primarily focused on teaching dance to children. Integra Dance Arts will offer a variety of classes and private lessons and is estimated to open mid-July 2019.

Send sales and leases to REDailyNews@outlook.com. To learn more, login.




CALCAP Advisors Sells Phoenix Apartments for $25.1 Million to Canadian Investor

PHOENIX, Arizona – Cushman & Wakefield represented 4337 North 53rd Lane, LLC, an entity formed by CALCAP Advisors of Pasadena, Calif., in the sale of The Colony. WREF Colony, LP, an entity formed by Western Wealth Capital of North Vancouver B.C., Canada, purchased the property located at 4337 N. 53rd Lane in Phoenix for $25.1 million.

Executive Managing Director Jim Crews of Cushman & Wakefield’s Phoenix office represented the seller. Crews stated, “Our Canadian buyer continues to add to their existing portfolio. They see continued investment upside with Phoenix multi-family fundamentals, including population growth and projected rent growth well above the national average.”

The Colony is a 236-unit, one and two-story, garden-style complex built in 1979. The property is composed of 41 buildings with a mix of both one and two-bedroom unit types, including 93 single-story casitas. The units feature large floor plans with walk-in closets and an average unit size of 825 square feet. “This property is well positioned for interior upgrades including washers/dryers, appliances, flooring and general updates,” Crews added.

Offering convenient access to the I-10 and I-17 freeways, The Colony is approximately three miles from Grand Canyon University. The property also offers residents easy access to multiple shopping, recreation and dining options including Walmart SuperCenter, Ross Dress for Less, Walgreens, CVS and Grand Canyon University Golf Course. In addition, the property is within walking distance to the Maryvale Community Center, YMCA, Palo Verde Library and the Maryvale Baseball Park.




Owner/User Historic Office Central Corridor Phoenix Sold

PHOENIX, Arizona – Located near the Central Avenue Corridor, one half mile south of Thomas Road and 7th Street, this 5,500-square-foot freestanding building sold for $735,000, or $134 per square foot. The property benefits from good exposure along 7th Street, with over 41,000 vehicles passing per day.

Nick Miner, CCIM and Andrew Harrison of ORION Investment Real Estate exclusively represented the Buyer, MRC Holdings, LLC. Miner said, “This was an owner/user sale. The Buyers have plans to extensively remodel the property for their use of a PR and law firm. They liked the location to the local amenities, including restaurants, and proximity to downtown Phoenix.”

The Seller, Magnacca, LLC, was represented by Justin Horwitz and Paul Borgesen of SVN/Desert Commercial Advisors.




Sterling Real Estate Partners Continues Expansion in Phoenix with Villas De Azul

Sterling Continues to expand in Phoenix, Acquires 301-unit apartment project, Villas De Azul Apartments

Phoenix, AZ –Sterling Real Estate Partners continues to expand in Phoenix, Arizona and has acquired the 301-unit Villas de Azul Apartments. Sterling has acquired over $100M in three transactions this year.

Villas de Azul was built in 1972 and consists of 32, two-story buildings on 17 acres with a park-like setting that includes spacious courtyards and mature landscaping. Other community amenities include three swimming pools, a playground, two basketball courts, resident clubhouse and three laundry facilities.

“Villas de Azul is a unique investment opportunity to acquire an asset significantly below replacement cost in a central workforce housing location,” said David Zeff, Sterling Principal. “We look forward to initiating our business plan, enhancing the property, and bringing value to the area.”

Sterling plans to reposition the asset by adding new family friendly amenities, implementing ‘green’ initiatives, enhancing site curb appeal with new landscaping, and correcting deferred maintenance. Significant value-add opportunities are also available through improving current property operations and capitalizing on the high number of three-bedroom units at the property, which the neighboring properties lack.

“We are excited to maximize the project’s potential and Villas de Azul will be a showcase for the Sterling team’s core business strategy,” said Michael Barker, Sterling principal. “The property will benefit from the strong population growth in the Phoenix MSA.”

Phoenix is the fastest-growing city in the country, according to newly released estimates from the U.S. Census Bureau. Phoenix welcomed 25,288 new residents between 2017 and 2018. Phoenix remains the fifth most-populous city with a population of 1,660,272, according to Census data.




Accelerated Development Services Adds Vice President of Construction Management

Dave Lambert, VP of Construction Management

Phoenix, Arizona — Accelerated Development Services is pleased to announce that Dave Lambert has been hired as the Vice President of Construction Management for the company.  A 25 year veteran in the construction arena, Dave’s experience includes commercial and multi-family experience for projects totaling over $205 MM.

“As our project base has grown, Dave will be critical to providing superior oversight to each of our projects starting prior to our site acquisition through the project close-out,” said Trey Eakin, Executive Vice President of Accelerated Development Services, a division of Velocity Retail Group.

Accelerated Development Services was created to provide its tenant clients with the ability to secure, develop, and construct properties in areas where finding quality locations can be challenging.   The company provides a development services solution for retailers looking to expand their brick and mortar storefronts.  The company primarily offers services that include but are not limited to, build-to-suit, construction management and fee development in partnership with a retailer.  Accelerated Development Services is an affiliate company of Velocity Retail Group.

Dave has a diverse background spanning over two decades in Arizona with commercial projects that encompass ground up as well as redevelopment projects.  He is well versed in all aspects of construction and construction management and will be able to bring this background to the table for each of the company’s projects.  This well-rounded skill set will ultimately provide more creative and affordable solutions for the retailers that Accelerated Development Services partners with during their expansions throughout the Western U.S.

Dave can be reached at:  602-682-8160, email:  dave.lambert@accelerateddevco.com.

 




Scottsdale Investor Acquires End Cap at Harrison Plaza in Tucson

2530-2532 S Harrison Rd., Tucson, AZ

Tucson, Arizona – Majestyk Tucson, LLC (Michael Bennian, manager) of Scottsdale purchased the property located at 2530-2532 S. Harrison Road and 9425 E. Golf Links Road, Tucson, Arizona for $375,000 ($117 PSF).  

The approximately 3,200-square-feet of retail space in Harrison Plaza was built in 1997 and is the end cap at the northwest corner of Harrison Road and Golf Links in the center anchored by Big Lots. Each of the stores at this center are individually owned.

The transaction was an investment sale that sold full leased to two tenants, Hair Spraz Salon is in 800-square-feet and Cozy Corner Diner in the remaining 2,400-square-feet. Both will continue to occupy the spaces.

Paul Ash Management handles the property management.

Frank Arrotta of Tucson Realty & Trust Co. represented the seller, Trinum Properties, LLC of Los Angeles, California (Shawn Rita Abrahams, manager).

For more information, Arrotta can be reached at 520.577.7000.

To learn more, see RED Comp #6885.




Lee & Associates of Arizona and Idaho Sell Chandler Heights Marketplace for $30.8 Million

Chandler Heights Marketplace, Chandler, AZ

Phoenix, Ariz. – Lee & Associates announced that it has arranged a $30.8 million ($247 PSF) sale of the Chandler Heights Marketplace, a 124,822-square-foot grocery anchored neighborhood shopping center located in Chandler, Arizona.

The sale was a collaborative effort by two Lee and Associates offices, the Lee & Associates Idaho office located in Boise, Idaho and Lee & Associates Arizona. Shane Jimenez of Lee & Associates of Idaho, as well as Jan Fincham and Andrew Lundahl of Lee & Associates Arizona represented the seller, Boardman Enterprises, LLC. Nathan Cardon of Cardon Commercial represented the buyer, Sita Enterprises LLLP.

“The sale of the Chandler Heights Marketplace is an excellent example of the Lee Network opening opportunities for our clients across multiple markets,” said Shane Jimenez, Principal and CFO of the Boise, Idaho office.

With over 69% of the shopping center leased to national and regional tenants, Chandler Heights Marketplace is situated on over 18 acres at 4940 S. Gilbert in Chandler, Arizona, and consists of 124,822-square-feet of shops. The shopping center is home to tenants Bashas’, Ace Hardware, Leslie’s Pools, Starbucks, Orange Theory, Pizza Hut, H&R Block and Edward Jones.

“Chandler Heights Marketplace is attractive to investors because of its strategic location in an affluent area of fast-growing Chandler, Arizona,” said Fincham. “In addition, investors liked that the property consists of a mix of tenants that are internet resistant providing grocery, service, financial, retail, fitness and fast casual restaurant users.”

According to Fincham, within a one-mile radius of the shopping center, the average annual household income is over $157,000. The property also benefits from a strong daytime employment population with over 23,000 employees from Intel, Bank of America, Wells Fargo, Verizon Wireless and PayPal.

For more information contact Jan Fincham at 602-954-3754, Shane Jimenez at 208-343-2300 or Andrew Lundahl at 602-385-3799.




Pima County Board of Supervisors approves $3.9M in Outside Agency funding

PIMA COUNTY — The Pima County Board of Supervisors on June 18 voted to extend a helping hand to 91 community groups whose missions compliment or supplement County services. The Board voted unanimously to approve $3,941,082 in Outside Agency (OA) funding for the 2019-20 Fiscal Year.

The bulk of that total, $2,415,345, went to the County’s Outside Agency Program, which, as part of the Department of Community Development and Neighborhood Conservation (CDNC), assists underserved and economically disadvantaged populations and communities under the guidance of a six-member review committee. The panel tapped 65 programs to receive OA funds based on the members’ assessment of community needs in five service categories.

  • Community Services – $364,940
  • Emergency Food and Clothing – $765,300
  • Senior Support Services – $174,000
  • Support Services, Shelter and Domestic Violence – $395,600
  • Youth, Young Adult and Family Support – $715,500

“Pima County is fortunate to have elected officials who make it a priority to support local agencies that benefit the whole community,” said Interim CDNC Director Daniel Tylutki. “The Outside Agency Program makes people’s lives better. Last year, our non-profit partners helped upwards of 350,000 people with everything from food, clothing and shelter to reading programs and transportation, even expert advice on completing their tax forms.”

In addition to the programs recommended by the committee, supervisors also approved $972,641 for 19 General Services programs and another $553,096 to underwrite operations of nine special request initiatives that benefit other County departments. Top grants in those areas went toward environmental cleanup efforts in El Rio neighborhood and regional planning efforts at the Pima Association of Governments which received $163,200 and $298,000 respectively.

Also on June 18, the Board of Supervisors decided to postpone voting on the Fiscal Year 2020 Budget in order to consider proposals to reduce the overall cost to county taxpayers when factoring in increases in assessed property values, and the possible effect such changes could have on a plan to more fully implement a Pay-As-You-Go capital improvement plan in fiscal year 2021.

The board will take up the budget discussion again at its July 2 meeting. Though the fiscal year ends June 30, state law allows for the county to continue under the existing budget until early August. The items continued for the main county primary property tax, and the secondary taxes for the Library and Flood Control Districts, and for debt service.

The board did vote unanimously to approve the tax levies for about two dozen improvement districts in the County and the Rocking K Facilities District.




Arizona’s Economy: Still Strong After All These Years

By George W. Hammond, Director and Research Professor, EBRC
Arizona’s second quarter 2019 economic outlook update

TUCSON, Arizona  – The Arizona economy continues its long winning streak. Employment is expanding, population growth is solid, and wages are rising. Further, Arizona continues to far outpace national growth rates. The only smudge on this picture is the state unemployment rate, which remains stubbornly above the U.S. average. The likely explanation for that lies in the state’s strong job growth, which is drawing more residents to the state and more discouraged workers off the sidelines and into the labor market.

The outlook for 2019 remains solid for the state and nation. The current national expansion is very much on track to be the longest on record. However, gains are expected to slow from above trend rates last year to below trend rates by 2020. This implies that recession risks are elevated beginning in 2020. Nonetheless, the most likely scenario remains continued gains in the near term, with more jobs, residents, and income in Arizona.

Arizona Recent Developments

Arizona added 78,800 jobs in 2018, which translated into 2.8% growth, according to the latest revised data from the U.S. Bureau of Labor Statistics. As Exhibit 1 shows, that was up from 2.5% in 2017. Employment gains also accelerated in the Phoenix Metropolitan Statistical Area (MSA), rising from 3.0% in 2017 to 3.3% in 2018. In contrast, job growth decelerated in the Tucson MSA, from 1.3% in 2017 to 1.2% last year. Nationally, job growth was 1.6% in 2017 and 1.7% in 2018.

Overall, as the exhibit suggests, job growth last year in Arizona, Phoenix, and Tucson was similar to gains posted since 2015-2016.

Exhibit 1: Arizona Job Growth Accelerated Last Year (Annual Job Growth Rates)While Arizona job growth picked up some steam last year, it did not translate into much improvement in the state’s unemployment rate. In 2018, the average unemployment rate was 4.8%, compared to 4.9% in 2017. Even though the rate was far below its recent peak in 2010 of 10.4%, it remained well above the national average of 3.9%. The Phoenix MSA unemployment rate was 4.2% in 2018. In the Tucson MSA, the rate was 4.5%.

Arizona’s unemployment rate has been above the national average for more than a decade. Initially, that was likely due to the fact that the state was hit much harder during the Great Recession than was the nation. However, as the recovery progressed, the gap has shown little sign of closing. What accounts for that? One possible explanation is that Arizona’s strong growth has pulled more than enough workers into the state and off the sidelines of the labor market.

Construction employment has been rising rapidly. It increased 10.6% during the past four quarters. This has been supported by increased housing permit activity. According to preliminary estimates from the U.S. Census Bureau, statewide total housing permits rose 5.5% last year, to hit 41,630. The gain was driven by a 12.0% increase in single-family permits. Multi-family permits decreased 10.5% in 2018.

Total housing permits rose 9.0% in the Phoenix MSA last year, with single-family permits up 13.6% and multi-family permits down 1.7%. Total permits declined 4.8% in the Tucson MSA last year, after very strong performance in 2017. Multi-family activity declined by 33.0% while single-family permits rose 11.0%.

Arizona house prices rose 8.9% over the year in the fourth quarter of 2018, according to the latest data from the Federal Housing Finance Agency. These data track repeat sales of single-family homes for all transactions, before adjustment for inflation. Arizona far outpaced the national rate (6.0%) during the period, but state gains slowed from 9.2% during the third quarter. By the same measure, Phoenix MSA house prices rose 9.8% in the fourth quarter, while Tucson MSA prices increased 7.6%.

In the last quarter of 2018, Phoenix MSA house prices finally regained the previous peak achieved in the fourth quarter of 2006. Statewide house prices remained 1.9% below the previous high. Tucson has more ground to make up, with prices 9.6% below the pre-recession high. Nationally, house prices were 14.3% above the previous peak. Keep in mind that inflation-adjusted house prices remain well below peak for the U.S., Arizona, Phoenix, and Tucson.

Personal income in Arizona increased 5.5% last year, according to the preliminary estimates from the U.S. Bureau of Economic Analysis. That was well above the national rate of 4.5%. Further, Arizona’s personal income ended the year strong, rising 5.9% over the year in the fourth quarter. That beat the U.S. at 4.6%.

On a per capita basis, state personal income rose 3.7%, which was just below the national increase of 3.8% in 2018. Arizona’s per capita personal income, at $43,650, was 18.7% below the national average of $53,712. That ranked the state 42nd in the nation.

Personal income includes earnings from work, asset income (dividends, interest, rent), and transfer receipts. In 2018, 3.6 percentage points of the 5.5% growth was generated by earnings from work. Asset income and transfer receipts contributed 1.0 percentage points each. The components do not sum perfectly to 5.5% due to rounding.

Arizona Outlook

While the national economy continues to post strong growth, it is expected to slow gradually through the next few years. Real GDP increased by 3.2% in the first quarter of 2019, which was a strong result. The April 2019 baseline forecast from IHS Markit calls for growth to slow to the 2.0% range in coming quarters. On an annual basis, real GDP growth is forecast to decelerate from 2.9% last year to 2.3% in 2019, 2.1% in 2020, and 1.9% in 2021.

Decelerating national growth in the near term is driven by slower global growth, the lagged impacts of past interest rate increases, diminished federal fiscal stimulus, tariffs, and approaching capacity constraints. Overall, the forecast calls for the U.S. economy to transition from above trend growth in 2018 to below trend growth by 2020. That pattern implies increased recession risks in 2020.

The outlook for monetary policy calls for the Federal Reserve to increase the target for interest rates once this year. That translates into an increase in the federal funds rate from 1.8% last year to 2.4% in 2019. Further tightening is expected in 2020, driving the rate to 2.6% where it stabilizes. The 30-year conventional mortgage rate is forecast to rise from 4.4% this year to 4.8% by 2021.

Interest rate spreads remain close to zero, but have not yet turned negative, at least in the monthly data. The spread between the 10-year and 2-year Treasury rate reached 0.1 percentage points in April and was slightly negative for a week in late March before returning to positive territory. The spread between the 10-year and 3-month Treasury rate has been more stable lately and was 0.19 percentage points in April. Overall, interest rate spreads remain a source of concern but do not yet provide a decisive recession signal.

Federal fiscal stimulus gradually fades in the near term, with real federal government spending on goods and services sliding from growth of 3.7% this year to 0.9% next year, and then declining modestly in 2021.

Inflation remains under control, with the CPI-U increasing 2.1% this year, 2.0% next year, before accelerating modestly to the 2.3% per year range by 2021.

Continued real GDP growth drives the national unemployment rate down to 3.6% this year, where it remains stable through 2020. Slowing output growth is expected lift the rate modestly in 2021 to 3.8%.

The U.S. outlook sets the stage for the Arizona forecast, because the state depends in part on national (and global) markets to drive demand. Exhibit 2 summarizes the Arizona forecast through 2021. Job gains are forecast to decelerate from 2.8% last year to 2.4% in 2019, then to 2.1% in 2020, and 1.7% in 2021. Slowing national growth drives the near term slow down.

Exhibit 2: Summary of the Arizona OutlookMost of the job growth is concentrated in service-providing sectors, especially education and health services; professional and business services; leisure and hospitality; and trade, transportation, and utilities. These four industries alone account for 74.1% of job gains through 2021.

With rising employment comes increased income. Arizona personal income is projected to rise by 5.5% this year, then 6.2% in 2020, and 5.8% in 2021. Solid gains reflect tightening labor markets in the state, as well as continued increases in the state minimum wage through 2020.

Solid income gains translate into increasing consumer spending in the state. Retail sales gains slow from 7.0% last year, a very strong gain, to a more normal pace around 4.4% during 2019-2021.

Overall, if the national economy continues to grow, Arizona is poised to generate strong gains. Within the state, the Phoenix MSA is forecast to generate the most of the growth expected for Arizona. Exhibit 3 shows that job growth is expected to decelerate during the next decade for all three geographies. This slowdown is driven by demographics, as the baby boom generation gradually ages out of their prime work years. Tucson also generates job growth under baseline assumptions, but increases come at a slower pace.
View Forecast Date Here




Orion Senior VP joins the Scottsdale Bond Campaign’s Steering Community

Larry Kush, Sr. VP, Orion Investment Real Estate

Scottsdale, Arizona — Senior Vice President of ORION Investment Real Estate’s land sales division, Larry Kush, has joined the Scottsdale bond campaign’s Steering Committee. Kush and the other new Steering Committee members were chosen because of their “significant and longstanding community ties in Scottsdale,” according to The Scottsdale Independent.

“My thoughts about asking Larry to join the PAC Steering Committee were pretty straight forward. He’s a recognized community leader. He speaks directly, bluntly and honestly when asked his thoughts,” said Mike Norton, Political Action Committee Co-Chairperson. Norton continued, “I admire his willingness to stand his ground and speak his mind. We have that trait in common.”

Kush said. “I am excited to render whatever assistance that I can in helping to pass this critical Bond Measure and I am humbled by Mr. Norton’s kind words and faith in me.”

While Norton and Kush have “agreed to disagree” on certain issues, such as the Desert Discovery Center (DDC), they share many common visions for the future of Scottsdale. “We are each in love with the City. We’ve both been here a long time. We both want to see the highest quality community possible developed here, and the list goes on,” exclaimed Norton.

The bond campaign is in favor of three Scottsdale bond measures. These bonds will make community investments across Scottsdale that will benefit the neighborhoods and their residents. Scottsdale voters have not approved a major bond package in two decades. Norton concluded, “This is not about Larry or me or anyone else. This is about what is best for the Community. Larry and I both share that view.”

Questions regarding the campaign or to make a donation, please contact Mary Turner at 480-423-1414 or mturner@rosemoserallynpr.com.

ABOUT LARRY KUSH

Kush, a 35-year industry veteran, was previously founder and member of the Citadel Land Advisory Group before joining ORION (also headquartered in Scottsdale). Launched in 2009, Citadel Land Advisory Group worked on behalf of local and national debt and equity groups and national home builders to find and acquire land and lots for residential construction.

Kush is active in the real estate industry and community. On the community side, he currently serves as a planning commissioner for the city of Scottsdale, and currently serves on the Scottsdale Development Review Board. Professional organization affiliations include the Home Builders Association of Central Arizona (where he is past board chairman and honorary life board member) and the National Association of Home Builders. In his work with NAHB, he was the National Area Chairman for a six-state area in the Southwest and Inter-Mountain West.

He obtained a Bachelor of Arts degree in design from California State University-Northridge, A Vietnam Veteran he attended U.S. Army Engineer School, and served as a captain in the U.S. Army. Kush is married, with two children and five grandchildren.




Quail Park of Oro Valley Sells for $36.5 Million

ORO Valley, Arizona – The newly constructed Quail Park of Oro Valley was sold to a New Jersey Investment Group PGIM Real Estate (Luke Gabay, vice president) for $36.5 million ($361,386 per unit) for the 101-units at 9005 N Oracle Road n Oro Valley.

Located between Hardy and Calle Concordia on Oracle Road, the 83,059-square-foot Quail Park at Oro Valley’s design features a flat roof, mixture of stucco and brick with intricate parapets, that reflects the historical territorial architecture in Oro Valley. The two-story senior community has an “H” plan configuration with central common areas tailored to assisted living and memory care residents.

The unit mix consists of (38) Studios of 440-square-feet each, (43) one-bedroom units of 600-square-feet each, and (20) two-bedroom units of 875-square-feet.

Residents enjoy a wide variety of amenities, including: bistro, movie theater/ chapel, grand parlor complete with billiards, poker and ping pong, fitness center, full service salon, 2 outdoor courtyards, washer & dryer in every Independent and Assisted Living apartment, walk-in showers with built-in shower benches and pet therapy. All Memory Care Private Suites include a private bath.

The property was constructed by CA Ventures of Chicago (Tom Scott, CEO) in 2018.

To learn more see RED Comp #6876.




Pima County Supervisors OK $400K in funding for tourism-related agencies

Funds support events, celebrations and programs that promote tourism in Pima County

PIMA COUNTY –On Tuesday, the Pima County Board of Supervisors unanimously approved $400,000 in funding to outside agencies with attractions and tourism-related programs. Nine non-profit community agencies will receive financial support from the County to promote events, celebrations and programs that provide economic development and improve tourism in Pima County.

“We’re happy to support agencies that drive tourism and provide events and programs to residents and visitors alike throughout Pima County,” Attractions and Tourism Director Diane Frisch said.

Pima County Attractions and Tourism manages the Tourism-Related Outside Agency Program to ensure the services provided compliment and expand those directly offered by the County. Nine organizations submitted applications for Fiscal Year 2019-2020. The total grant request was $441, 244. The Outside Agency Citizen Review Committee reviewed each application and recommended the award to each agency based on available funds.

Recipients of the attractions and tourism outside agency grants include the Ajo District Chamber of Commerce, the Arts Foundation for Tucson & Southern Arizona, the International Sonoran Desert Alliance, Portable Practical Educational Preparation, Southwest Folklife Alliance, Children’s Museum of Tucson, Perimeter Bicycling, Tucson Botanical Gardens, and the Tucson Presidio for Historic Preservation. The recipients will split the approved amount of $400,000.