Wednesday, August 15, 2018

The Amazon Project – This Week at Pima County Real Estate...

TUCSON, ARIZONA – Pima County Real Estate Research Council 3rd Quarter Meeting will be held August 16th and discussing The Amazon Project, how Amazon picked Tucson for one of its latest fulfillment centers. Speakers will include Mike Levin, Executive Vice President of the Port of Tucson located in Century Park...

Tangerine Sky Community Park celebrates its grand opening

MARANA, ARIZONA -- On Friday, August 10, 2018, the Town of Marana conducted the Grand Opening of Tangerine Sky Community Park. This event was organized and executed by the Marana Parks and Recreation Department and the Town’s Communications Office.  Several hundred people participated in this Grand Opening Ceremony. Parks and...

Ina Road traffic shift at I-10 set for Monday, Aug. 13...

MARANA, ARIZONA -- Motorists should expect a new traffic configuration on Ina Road between Interstate 10 and Starcommerce Way starting Monday, Aug. 13. Traffic on westbound Ina Road is set to shift to the north side of the new divided roadway.  Eastbound traffic will remain on the south side. The shift...

First State Trust Land Sale in a Decade in (Vail Area)...

TUCSON, Arizona – KB Homes was the successful bidder for the purchase of 210 acres at an Arizona State Land Trust auction this week for $10.625 million ($50,595 per acre).  This was the first sale State Trust Land in Tucson in more than a decade. Located on Tucson’s east side, east of...

Value-add apartment communities attract investment to metro Phoenix

JLL arranges sale of 1,751-unit, six-property portfolio PHOENIX, Arizona – JLL’s Capital Markets experts have arranged the sale and financing of a portfolio of six metro Phoenix apartment communities on behalf of a fund managed by DRA Advisors LLC of New York City and their joint-venture partner, Dallas-based Milestone Group. The...

The Market’s Lateral Line – Tucson MSA Multifamily 2Q 2018 Report

By Thomas Brophy, Director of Research, ABI Multifamily Highlights forTucson MSA Multifamily 2Q 2018 Average rent continues to increase for the Tucson MSA rising 4.1% to a market high of $831 (which is $236 below Phoenix's $1,067/average rent). Occupancy Rate for the Tucson MSA remained at historic highs, actually...

Busy Mesa Retail Center Sold by ORION

MESA, Arizona – Located on Main and 48th Street, Main Street Plaza sold for $2.5 million ($78 PSF) - 98% of asking price. The busy Mesa retail strip center is situated along Main Street, giving it excellent visibility and exposure. Noteworthy retailers and restaurants lie just to the west...

Caliente Construction celebrates completion of $10M Chandler Public Safety Training Center

TEMPE, ARIZ.  – Caliente Construction, an Arizona-based general contractor providing commercial construction services in the Western U.S. for almost 30 years, joined the City of Chandler in celebrating the completion and ribbon cutting of the $10 million Chandler Public Safety Training Center Wednesday morning. The newly constructed 29,130-square-foot, two-story masonry...

Infrastructure is a Business Issue – Tucson Metro Chamber Supports Prop....

Tucson, Arizona – The Board of Directors for the Tucson Metro Chamber voted to support Proposition 463, Regional Road Construction, Preservation and Repair. Pima County is proposing the sale of $430 million in general obligation bonds and the voters will have a chance to approve the sale of those...

Investor Activity Heats Up in Phoenix Multifamily Market

Prices Spike as Newer Projects Command Top Dollar Phoenix, Arizona – The Greater Phoenix multifamily market experienced a mixed second quarter, but investment activity commanded the most attention.  Sales were quite active and prices spiked as newer, more expensive projects changed hands. The second quarter is typically weak for the multifamily...

Hearst Foundations Awards $75,000 to Tucson Museum of Art’s K-12 program...

TUCSON, ARIZONA -- The Tucson Museum of Art and Historic Block (TMA) received a $75,000 grant from the Hearst Foundations to support and expand its youth education programming for the next two years. TMA plans to apply this grant funding to reach an additional 10,000 underserved youth and their...

Tucson SFR Lots Sales Heat Up in July

TUCSON, ARIZONA -- DR Horton purchased 56 partially completed lots at Farm Field Five for $2.72 million ($48,568 per lot). DR Horton will be joining LGI Homes at Farm Field Five in North Marana, a 224-lot subdivision, a portion of Vanderbilt Farms.  Dolphin Partners of Irvine, California was the...
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