SEDONA, Arizona– Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 23.2 acres of land in Sedona, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $6,733,000 ($290,000 per acre).

Ross Smith, Art Rullo and Michael Farrar, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The asset was purchased by Falcon’s Aerie LLC after two years on the market.

“The site is located on the north edge of the city of Sedona, world famous for its dramatic rock formations, abutting the national forest,” shared Smith. “While the asset is zoned for 105 homes, extensive studies determined that fewer units can practically be built. The rough topography precluded development on top of the mesa, the highest point of the site.” The asset is located at 701 North Highway 89A in Sedona, Arizona.

Tucson, Arizona – Larsen Baker, through its affiliate Chroma Speedway Investors, LLC recently acquired the 15,000-square-foot retail building on 4 acres of land located at 3232 E Speedway Blvd. in Tucson, Arizona for $4 million ($266 PSF). The building was 30% occupied at time of sale.

Larsen Baker recently acquired, through its affiliate Rancho Center Developers, the 80,000-square-foot Rancho Center shopping center at 3302-3416 E Speedway Blvd in Tucson for $10.1 million and is adding this additional building and excess land.

The buyer was represented by Isaac Figueroa with Larsen Baker, LLC. The seller, SMDSK Encanto, LLC,  was represented by Debbie Heslop with VOLK Company.

For more information, Figueroa should be reached at 520.296.0200 ext.218 and Heslop should be contacted at 520.495.2235.

To learn more, see RED Comp #9726 and #9698.

PJD Acquires Colorado-based C&S Drywall, continuing the firm’s expansion.

PHOENIX, ARIZONA – Paul Johnson Drywall, Inc. (PJD) announces the completion of its acquisition of C&S Drywall, a long-term residential drywall contractor serving Metro Denver and contiguous markets across the front range. The purchase of C&S Drywall grows PJD’s service capacities in the region and expands access for residential builders to PJD’s industry leading platform.

PJD plans to keep all of the C&S employees, including prior ownership, each of whom will immediately benefit from PJD’s Good Job’s workforce strategy.

“As residential builders are struggling to have their needs met in a professional and timely manner across the country, we have sought out the highest quality subcontractors in a number of markets to bring into PJD’s platform,” said Cole Johnson, President of PJD. “We are confident that we will be able to immediately leverage C&S’s existing team and excellent reputation with our proven systems to deliver customers the quality of service they expect and deserve as they continue to grow in the Denver metro. This is an exciting time for PJD. We are proud to bring C&S onboard and are seeing terrific prospects ahead in the Denver market.”

Denver’s construction market has proven surprisingly robust and outperformed forecasts throughout 2021. The residential construction sector remains the largest by a significant margin and makes up more than half of all construction volume.

Metro Denver is the newest addition to PJD’s growing national footprint.