TUCSON, ARIZONA — Duff Real Estate bought 8.89 acres of CB-2 Zoned land at 4545 E Valencia Road for $1.55 Million. Located at Valencia and Benson Hwy, the property will be used for construction of a Southern Tire Mart store and resell the remaining acreage. When completed the company will move from its current store at 4310 S Santa Rita Ave. in Tucson

Southern Tire Mart serves the commercial vehicle repair, tire, and wheel needs of independent truckers and fleet managers throughout the southern United States. Over the years it has expanded into over 80 locations providing commercial services in and around MS, TX, GA, OK, AR, LA, NV, TN, FL, NM, AL, VA, MS, AZ and UT.

Founded in 1973, Southern Tire Mart is a solutions provider to the transportation industry.

Southern Tire Mart has spent the last 49 years delivering extensive commercial vehicle repairs to customers throughout the southern United States. Focused on building strong customer relationships and providing the highest quality of workmanship on each and every repair performed.

At Southern Tire Mart, you can expect:

• Quality commercial truck repair services including brake repairs, wheel alignments, steering and suspension system repairs, and cooling system/radiator service and repairs from a TIA-certified tire dealership
• Other fleet services including state inspections, diagnostics, and preventive maintenance
• Competitive prices on commercial truck tire brands like Bridgestone, Firestone, and Yokohama
• Wide selection of commercial tires, farm tires, industrial tires, and OTR tires
• Professional tire services including nitrogen inflation, computer spin balancing, TPMS service and adjustments, flat tire repairs, low-profile tire installations, and tire rotations
• Roadside assistance at 1-877-STM-TIRE (1-877-786-8473)
• Wheels
• Retreading service
• Professional fleet services

No matter where you live in the South, Southern Tire Mart is the answer for commercial tires, repairs, and roadside service. Contact any Southern Tire Mart location for a quote on a repair service, or roadside assistance. You can also schedule your next service appointment online today.

This is the Idaho-based investor’s second acquisition in the Phoenix area in the past five months

Phoenix, Arizona –  CBRE announced the sale of 140,161 square-foot Concorde Commerce Center in Phoenix to Idaho-based Stafford Holdings for $23 million.

CBRE’s Barry Gabel, Chris Marchildon, Geoff Turbow, Matt Pourcho, Anthony DeLorenzo, and Gary Cornish represented the seller, a joint venture between Phoenix-based ViaWest Group and New Yorkbased Taconic Capital Advisors.

The three-story chevron-shaped property, located at 2222 West Dunlap Avenue, features a contemporary design with an extensive glass line, a two-story atrium lobby, and floor plates situated for tenants of all sizes. The building is currently 84 percent leased to Ciox/Datavant, a major health data provider, and Kiewit, a construction and engineering company. The property is positioned within an opportunity zone with frontage on the expanding METRO Light Rail and is proximate to the soon-to-be-redeveloped MetroCenter Mall.

The CBRE team previously sold the property to ViaWest Group and Taconic as a 13 percent leased, value-add opportunity. Since acquiring the building in January 2018, ViaWest Group successfully leased the property to two major users, upgraded operational systems, added LED lighting, renovated the common area corridors, and recently completed spec suites for the balance of the remaining vacancy.

“This property is one of the nicest in the sub-market, and we are extremely proud of bringing life back to it over the last few years,” said Steven Schwarz, Founding Partner of ViaWest. ”We created a vision, like we have done with so many other assets in the Phoenix market, and then our team worked hard to bring it to fruition. We are indebted to CBRE for initially bringing us the opportunity and then running a stellar disposition process, and to Colliers and JLL for the amazing job leasing up the building.”

This is Stafford’s second acquisition in the Phoenix area in the past five months. In September 2021, the CBRE team sold to Stafford North Loop 101 Building D, an 88,696-square-foot, two-tenant, 100 percent occupied, Class A office building for $22.1 million.

“This is now the second seamlessly executed transaction we have completed with Stafford in the I17 Corridor in less than a year,” said Gabel. “They are firmly committed to expanding their presence within the Metro Phoenix marketplace.”

Added Marchildon, “This was a successful collaboration between CBRE professionals in Arizona and Southern California, which provided our client, ViaWest, access to an immense buyer pool, which ultimately created a win-win scenario for each of these excellent investors.”

Fueled by the strength of the sector, JLL’s Capital Markets group expects this trend to continue through 2022

CHICAGO,  With more than $143 billion in transactions, investor demand in industrial assets in the U.S. soared to new heights in 2021, up 32% over 2019’s previous high-water mark. Cross-border investors accounted for a record-setting $19.5 billion of that activity, up 152% year-over-year, signaling the strength of the U.S. industrial sector and the overall economy.

Five countries account for 91% of 2021’s total cross-border transaction volume. Boosted by GIC’s $6.8 billion portfolio purchase from EQT Exeter in the fourth quarter, Singapore led with 57% of the transactions, followed by Canada with 21%, or $4.1 billion. Bahraini, French and South Korean investors also funneled a significant amount of capital into the industrial sector.

“Capital typically follows strong property fundamentals, and the strength of underlying property fundamentals has helped investors offset inflation fears, driving a record level of investment activity in 2021,” said Senior Managing Director John Huguenard and Industrial Platform Leader with JLL’s Capital Markets group. “The favorable consumption patterns in the U.S., combined with the pressure to allocate record level dry powder, will continue to drive investors to the industrial sector in 2022.”

Canadian investors significantly increased their investment activity in the U.S. by 64.5% percent year over year and they show no signs of slowing down. The activity was led by the $2.2 billion-acquisition of a 14.5 million-square-foot infill and light industrial portfolio by Oxford Properties Group, a leading global real estate investor, asset manager and business builder. In December 2021, Oxford formed a joint venture with Denver-based EverWest Real Estate Investors to accelerate Oxford’s U.S. infill industrial portfolio growth. The JV seeks to acquire and develop approximately $1 billion (gross asset value) of infill, small-bay, industrial properties across the U.S. JLL’s Capital Markets group represented Oxford in both transactions.

“We are surrounded by a surplus of foreign capital in the industrial market that has propelled strong operators to grow their portfolios and platforms,” added Managing Director Marc Duval with JLL’s Capital Markets group. “The joint venture between Oxford, a foreign capital source, and EverWest, a proven operator, will be a force for the long-term. We anticipate more partnerships to form in the coming months due to foreign capital’s further interest in U.S. industrial real estate.”

Another trend seen in 2021 is a shift in the markets benefiting from the most cross-border investment. Where Dallas, Chicago, Atlanta, Los Angeles and the Inland Empire have consistently been favored markets since 2016 – Memphis, Phoenix, Houston, Philadelphia and Indianapolis have become more sought after.

“Attracted to the strength of their economies and positive demographic trends, investors have accelerated their capital placement towards Sun Belt markets,” said Nicholas Rita, Research Manager, Industrial Capital Markets. “These favorable market conditions will facilitate further investor interest in 2022.”

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.