Retail Recovery Marches on… Owner/User Sales of $1.6 million

These five owner/ user retail sales in Tucson, listed by submarket, have a combined total of $1.6 Million. Only one was a distress sale. All represent business owners who decided it time to take the leap into property ownership.

This article has been archived, please login for access or subscribe now by going to the subscribe tab at the top of page.

[mepr-show rules=”58038″] NORTHEAST SUBMARKET
L & L Pool Services of Tucson (Lonnie Lominac) purchased a 2,400 square foot retail building on a 13,000 square foot lot at 2900 N. Country Club Road in Tucson from Complete Landscaping, Inc. of Tucson (Billy Gibson) for $425,000 ($177 PSF). The property is zoned C-1 and previously occupied by seller for a landscaping business, complete with fenced yard. This move represents a substantial expansion, and consolidation for L & L Pools. Russell W. Hall, SIOR, GSCS and Stephen D. Cohen Principals and Industrial Specialists with Cushman & Wakefield | PICOR of Tucson, represented the buyer in this transaction while Fernando Acevedo with KW Commercial of Tucson represented the seller.

Old Pueblo Industrial Products, LLC of Tucson (Amanda Tobak) acquired Industrial Chemical of Arizona of Tucson (Leslie Smith) business and real estate at 5302 E Pima Street in Tucson. The 3,360 square foot building at 5302 E Pima was purchased for $220,000 ($65 PSF) and the business purchased separately. Industrial Chemical of Arizona is a cleaning supplies specialist, focusing on the maintenance and restoration of carpets, natural tile, concrete, wood, clay and brick for the kitchen, restroom and showroom. The business has been selling cleaning products in Tucson, Arizona for over 36 years, since 1977. They provide products of over 200 vendors. The financing was handled by SBA.

EAST SUBMARKET

Pyramid Glass, LLC of Tucson (Eugene Zavala), a newly formed business, purchased 6,185 square feet at 2011 S. Alvernon Way in Tucson from Vantage West Credit Union for $162,000 ($26 PSF) in an REO sale. Brandon Rodgers, CCIM, and Aaron LaPrise, Commercial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

Ker Haus, Inc. of Tucson (John Stanek, President) dba Mercedes-Benz Repair by Benztek Automotive, purchased the property that it was occupying as a tenant at 4610 East 1st Street in Tucson for $275,000 ($68 PSF). The 4,020 square foot concrete block building (built 1986) on a 16,800 square foot fenced lot was sold by Malco Enterprises of Las Vegas, NV (John Mallo, President).

Bucking Bronco, LLC of Tucson (Al and Bonnie Bianco) purchased the 7,916 square foot retail building known as “Al’s Ace Hardware” at 4010 E 29th Street in Tucson for $554,120 ($70 PSF). Built in 1986, the property was previously leased by the buyer. The seller was JAB 29th Street Corporation as successor in interest to J.A.B. Corporation of Tucson (Gary Fletcher, President). Al’s Ace Hardware is locally owned and operated since 1988.

2900 N Country Club: sale date 8/16/2013. Down payment was $28,800., Zoned C-1, Tucson.
5302 E Pima St: Sale date 7/2/2013. Down payment was $15,400. Zoned C-1, Tucson
2011 S Alvernon Way: ale date 8/29/2013. Down payment was $8,000. Zoning C-2(AE), Tucson.
4610 E 1st Street: Sale date: 8/9/2013. Down payment was $98,250. Zoned C-2, Tucson
4010 E 29th Street: Sale date: 7/31/2013. All cash deal. Zoned C-2, Tucson [/mepr-show]