Tucson, Arizona – Larsen Baker is pleased to announce that Saguaro Solar & Paracelsus Consulting, LLC have leased 9,500 square feet and 10,000 square feet, respectively, at 3000 E. Valencia Road. The building is part of Valencia Tech Park at the SW corner of Valencia and Country Club in the Tucson Airport submarket.

The project was recently acquired, renovated and rebranded by Larsen Baker.

Saguaro Solar is an industry-leading Tucson/Phoenix-based company serving Southern Arizona and specializes in setting up the best quality solar energy systems. They will be using their space for office and warehouse.  Paracelsus Consulting will use their space for office administration and light manufacturing.

Isaac Figueroa represented the landlord, Valencia Tech Park, LLC, an affiliate of Larsen Baker, and handled both transactions.

The 3000 E Valencia building at Valencia Tech Park has one space remaining of 13,856 square feet. The suite is the east end cap and has dock high and at grade loading with the potential for fenced yard. The center also has a 1-acre parcel on Valencia available as build to suit pad perfect for a drive through use.

For further information contact Figueroa at 520-296-0200 ext 218

TUCSON, ARIZONA — Randolph Plaza at 4202 E 22nd Street in Tucson sold for $20.5 million ($113 PSF). The neighborhood retail center is anchored by  Fry’s, Ross / DD’s, Goodwill, Dollar Tree, Rainbow, Peter Piper Pizza and several other national retailers.

The 180,687 square-foot center was built in 1972 on 17.33 acres southeast of Alvernon Way on 22nd Street. Not included in the sale were the two outpads with a Denny’s and a two-tenant retail building.

The Fry’s claims to be one of the top producers in Tucson located adjacent to Randolph Park with nearly 96,000 cars per day on 22nd Street.

Ryan Schubert with Cushman & Wakefield (Phoenix) represent the Scottsdale-based seller, Arizona Partners Retail Investment Group in this off-market transaction. The buyer, A&C Properties (Joseph Cattaneo, director) is from Phoenix.

For more information, Schubert should be reached at 602.224.4472.

To learn more, see RED Comp #9907.

PHOENIX, ARIZONA – SVN Desert Commercial Advisors Multifamily team had a strong start to the first half of 2022 and added the sales of two Phoenix properties at the end of June.

Villa Mira Monte Aparments – $8,000,000

Danny Lee helped facilitate the sale of Villa Mira Monte Apartments, located at 1737 W. Desert Cove Ave in Phoenix, AZ for $8,000,000. This 40-unit property located near North Mountain Park consists of all 2 bedroom, 2 bathroom units. Built in 1988 with no unit renovations, this was a true value-add opportunity.

At the time of sale, the property was fully occupied with a compressed cap rate below 3%. The purchaser, along with his two partners, are local and used funds from a recent property sale to complete a 1031 exchange into Villa Mira Monte. They plan on making light interior renovations to procure higher rents. After a six-month negotiation period with the seller, Danny Lee was excited to see the deal come to a close. “The Buyer is active in the buying and selling environment. I was happy to bring the buyer and seller together for this transaction,” says Lee.

925 E Amelia Ave – $2,000,000

Carrick Sears and Royden Hudnall facilitated the sale of 925 E Amelia Ave in Phoenix, AZ for $2,000,000, and completed the closing in just fourteen days. This fully-occupied 11-unit property includes a master lease, which the buyer plans to keep in place. The seller, in hopes of retiring, was eager to offload this property to a buyer looking to expand their multifamily portfolio. “It is a great feeling to be able to help both parties work towards their separate goals,” says Royden Hudnall. Both the buyer and seller enjoyed doing business together making this a smooth transaction and quick close.