PHOENIX, ARIZONA  – NAI Horizon represented the buyer in the acquisition of an original adobe building in a rare infill location in North Central Phoenix that will be repurposed into a training center and outdoor space.

NAI Horizon Managing Director Laurel Lewis represented Always This Good Holdings, Inc., in the $735,000 purchase of the 3,757 SF building at 715 E. Sierra Vista Drive, in Phoenix.

Always This Good Holdings purchased and closed on the property on June 30. The oldest aerial photograph shows the original adobe block structure nestled among the orange orchards in the North Central Phoenix corridor.

The building, a former Jewish girls’ school, had recently undergone some additions. After the planned renovations, the property will include more than 4,000 SF of modern offices, a training center, a full kitchen, and outdoor event space. It will also offer a private suite available for lease.

“North Central Phoenix with its ideal location and mix of architecture and style is the happening place to be,” Lewis said. “The original adobe block structure will be incorporated into the repurposed building, lending to a stunning transformation.”

This fall the new space will be home to Catalyst Retreat Center for women entrepreneurs and Desert Dimensions Properties, a residential real estate brokerage firm.

The seller, Shearim Torah High School, Inc., was represented by Danny Kahn with E&G Real Estate.

TUCSON, Ariz.– Tech Parks Arizona is pleased to announce that Karla Morales has been appointed to the board of directors which oversees Tech Parks Arizona.  Karla Morales serves as the vice president for the Arizona Tech Council (ATC) of the Southern Arizona Regional Office. 

Morales leads and oversees all operations and facets of the ATC Southern Arizona Regional office working to recruit, retain and support tech business in the Southern Arizona region. The Arizona Technology Council is the premier trade association for science and technology companies connecting and empowering 750+ businesses across the state of Arizona.  

Morales was recently named one of the Most Influential Women in Arizona Business for 2022. She is community champion and currently serve as the Chairwoman for the Tucson Hispanic Chamber, the Executive Board for Earn to Learn, the Pima County Workforce Investment Board and is involved with Santa Cruz County, the Greater Nogales Port Authority and Women At The Top. 

“Tech Parks Arizona is vital to the continual growth of our region’s economic environment and our ability to expand our tech base. I’m honored by the opportunity to contribute to an already high performing board and organization!” expressed Karla Morales.  

The University of Arizona and Tech Parks Arizona are delighted to welcome Karla Morales to the board of directors. 

PHOTO: Karla Morales, vice president of the Southern Arizona Regional Office for Arizona Tech Council 

TUCSON, Arizona – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced  the sale of Peaks at Redington, a 301-unit multifamily asset in Tucson, Arizona. The $53.9 million sales price represents $179,070 per unit.

“Peaks at Redington is poised for long-term rental demand due to Tucson’s steady employment growth and lack of new multifamily development in the submarket,” said Clint Wadlund, IPA senior vice president. “These conditions led to an ideal investment for our buyer who is entering the Tucson multifamily market for the first time.”

“The property gives our buyer the opportunity to accelerate asset performance with apartment interior renovations, as 100% of the units are in their original, classic condition,” added Hamid Panahi, IPA senior vice president. Wadlund, Panahi, and IPA’s Steve Gebing and Cliff David represented the seller, SB Pacific Group, and procured the buyer, MF Asset Management.

Located along Central Tucson’s main retail corridor, Speedway Boulevard, the property is easily accessible from Interstate 10, a short drive from the University of Arizona and 14 miles from Tucson International Airport. Eastridge Plaza, Saguaro Vista and Speedway & Pantano Square are within walking distance. There are over 52,000 jobs within five miles with employers such as Tucson Medical Center, Agero, ADP, Walmart, St. Joseph’s Hospital, and Texas Instruments.

Constructed in 1980 on 10 acres, Peaks at Redington has a swimming pool, bocce ball court and outdoor fitness equipment. Apartments have nine-foot ceilings, dishwashers and balconies or patios. The average unit size is 722 square feet.