TUCSON, Ariz. – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Walgreens, a 15,120-square-foot net-leased property located in Tucson, Arizona.

According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,900,763 ($192 PSF).

Chris Lind and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, another limited liability company, was procured by Lind and Ruble.

Built in 2001, Walgreens has a new five-year lease extension. The property is visible to over 13,5000+ vehicles per day on the signalized hard corner of East Snyder Road and North Sabino Canyon Road. Based in the affluent Tucson trade area, average household income exceeds $134,000 and the location is accessible to 105,058 residents within a five-mile radius. Walgreens is located at 7877 East Snyder Road in Tucson, Arizona.

To learn more, see RED Comp #9286.

Company expands nationally for multifamily debt investments and across Sun Belt states for property acquisitions.

DALLAS, TX – CONTI Capital, a real estate investment company with over $1.25B in transactions, has launched its fourth investment fund to raise $150 million for the acquisition of multifamily properties and the development of new vertical and horizontal rental housing.

CONTI’s RE High-Growth Fund IV offers accredited investors, wealth managers, and institutions the opportunity to diversify capital across a mix of multifamily assets and geographic markets. The Fund will seek a target return of 10-14% ROI with a 3–5-year hold period and is structured as a private offering for accredited investors under Rule 506(c) of Regulation D.

“The flexibility and diversity of our High-Growth Fund IV takes advantage of a range of both established and new multifamily properties,” says Carlos Vaz, founder and CEO of CONTI. “This approach allows us to adjust asset allocations as market conditions change, actively manage performance, and offer risk-adjusted returns for investors.”

The Fund will target established multifamily assets deemed value add, core plus, and core properties and in new development for apartment complexes and communities comprised entirely of single-family homes built for rent. The geographic footprint is focused on the United States’ 13 southern states known as the Sun Belt states.

CONTI continually monitors and analyzes the economic and demographic drivers affecting the multifamily industry. The real estate investment company produces The CONTI Report each quarter with economic, demographic, and industry insights impacting commercial real estate investing.

Founded in 2008 and with over $1B in assets under management, CONTI provides capital solutions to acquire, manage, and sponsor real estate investments across the U.S. on behalf of individuals, wealth managers, and institutions. CONTI’s mission is to create outstanding value for investors through active stewardship of their capital and with efforts that are backed by years of industry experience, strong company culture, and a relentless drive to perform. Learn more at www.conticapital.com.

PIMA COUNTY, ARIZONA — Pima County Board of Supervisors Chair Sharon Bronson provided the Board and the public an update from County Administrator Chuck Huckelberry’s family on the progress he is making recovering from injuries he sustained Oct. 23 while bicycling downtown. She read the following statement from Mr. Huckelberry’s wife, Maureen Huckelberry.

“Chuck is doing better. He’s made slow but steady progress over these past 10 days. The nature of his injuries requires us to be patient and celebrate the small victories as they come each day. I know there is a lot of curiosity about when he might return to work. Chuck’s wonderful team of doctors remain optimistic that he will recover and be back in the office dictating all those memos I know you all love to receive. But right now, we’re focused on how Chuck is doing today and whether today was better than yesterday. On behalf of Chuck and our entire family, I want to share how appreciative and grateful we all are for the outpouring of support and concern for Chuck. It’s been truly incredible and I am deeply touched to know how much he means to all of you. Thank you.”