Core Campus Tucson II, LLC an affiliate of Chicago-based Core Campus, purchased the 8,045-square-foot office building at 1001 N Alvernon Way in Tucson for $1.45 million ($180 PSF). The property was multi-tenant (built 2003) and was purchased to accommodate a single tenant, DIRECT Center for Independence (DIRECT).
DIRECT is a consumer-directed, community-based advocacy organization that promotes independent living, and offers a variety of programs for people with disabilities, encouraging them to achieve their full potential and participation in the community.
DIRECT was the first agency of its kind in Arizona serving as a non-residential, independent living center operated by and for persons with disabilities. In 1980, DIRECT began operations under the name Metro Independent Living Center (MILC) through the efforts of dedicated volunteers. A year later, MILC joined with Catholic Community Services of Southern Arizona, Inc. to obtain its first government funding to support agency programs. At this time, the name was changed to Disability Resource Center of Tucson (DIRECT). It soon became apparent that the word “resource” confused consumers in relation to the services that the agency provided, so the name was changed to DIRECT Independent Living Center. In November 1994, DIRECT became a separate, incorporated entity from Catholic Community Services of Southern Arizona, Inc., and had to again change the agency name to what it is currently DIRECT Center for Independence, Inc.
Core developed The Hub, an upscale 13-story student high-rise community, at 1011 N Tyndall, near the U of A with its ground-floor retail. Debbie Heslop, CCIM, with the Volk Company in Tucson represents Core in the retail leasing at The Hub and also represented the company in the purchase of the building at 1001 N Alvernon Way.
Heslop told us the 7,000 square-feet of retail at The Hub has either been leased or has leases out on it waiting completion. Tenants include a Sushi restaurant to go in and other eateries for the students’ convenience.
Buzz Isaacson of CBRE in Tucson represented the seller, Prestige One, LLC (Robert Lara and Thomas Sayler-Brown, members) of Tucson.
Isaacson can be reached at (520) 323-5151 and Heslop is at (520) 326-3200 for more information.
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[mepr-show rules="58038"]Sale date: 4/25/2014. All cash deal. APN: 125-1-055A. Market Time: Property was not on the market at time of sale. Second leg of this transaction is purchasing the property at 1023 N Tyndall Ave that is occupied by the tenant. This second transaction is in escrow but had not closed yet with City of Tucson as seller.[/mepr-show]