PPEP Inc. Reports Batch of Commercial Lease Renewals

PPEP

Somerton, AZ (August 31, 2026) — PPEP Inc., Portable Practical Educational Preparation, Inc., a Tucson-based nonprofit organization serving rural and underserved communities throughout Arizona, announced a series of commercial lease renewals at The Placita Dolores Huerta Center in Somerton, along with an additional long-term renewal at Dysart Business Park in Avondale. Jake Herrington, Chief Administrative Officer with PPEP Inc. represented the landlord in all the transactions.

RETAIL – 201 N. BINGHAM AVE., SOMERTON, AZ 85350
24/7 Get Fit Gym renewed its lease for 5,830 square feet at The Placita Dolores Huerta Center, 201 N. Bingham Ave., in Somerton. Jake Herrington represented the landlord.

RETAIL – 811 E. RILEY DRIVE, AVONDALE, AZ 85323
Sanctuary Community Church, a long-term tenant, renewed its lease for 2,900 square feet at Dysart Business Park, 811 E. Riley Drive, in Avondale. Jake Herrington represented the landlord.

RETAIL – 201 N. BINGHAM AVE., SOMERTON, AZ 85350
My Family Furniture renewed its lease for 2,000 square feet at The Placita Dolores Huerta Center, 201 N. Bingham Ave., in Somerton. Jake Herrington represented the landlord.

RETAIL – 201 N. BINGHAM AVE., SOMERTON, AZ 85350
La Casa Del Alfarero Church renewed its lease for 1,200 square feet at The Placita Dolores Huerta Center, 201 N. Bingham Ave., in Somerton. Jake Herrington represented the landlord.

OFFICE – 201 N. BINGHAM AVE., SOMERTON, AZ 85350
Sunrise Farming Inc., a long-term tenant, renewed its lease for 1,000 square feet of office space at The Placita Dolores Huerta Center, 201 N. Bingham Ave., in Somerton. Jake Herrington represented the landlord.

OFFICE – 201 N. BINGHAM AVE., SOMERTON, AZ 85350
Western Yuma U.S. Department of Labor renewed its lease for 1,000 square feet of office space at The Placita Dolores Huerta Center, 201 N. Bingham Ave., in Somerton. Jake Herrington represented the landlord.

OFFICE – 201 N. BINGHAM AVE., SOMERTON, AZ 85350
Yuma Private Industry Council renewed its lease for 1,000 square feet of office space at The Placita Dolores Huerta Center, 201 N. Bingham Ave., in Somerton. Jake Herrington represented the landlord.

OFFICE – 201 N. BINGHAM AVE., SOMERTON, AZ 85350
Chicanos Por La Causa renewed its lease for 1,000 square feet of office space at The Placita Dolores Huerta Center, 201 N. Bingham Ave., in Somerton. Jake Herrington represented the landlord.

 




Six-Unit Student Housing Property Near University of Arizona Sells for $1.35 Million

Student Housing Property

TUCSON, ARIZONA (Aug. 28, 2026) — A six-unit student housing property near the University of Arizona has sold for $1.35 million in an investment transaction.

638 E Lester LLC, an affiliate of SVP Holdings LLC of Oro Valley, acquired Lester Student Housing Apartments at 638 E. Lester Street in Tucson from Lester Apartments LLC of Sisters, Oregon. The sale closed Aug. 21, 2026.

The property consists of three two-story buildings totaling approximately 9,000 square feet on 0.41 acres. Built in 2008, the complex contains six residential units configured for a total of 22 bedrooms or beds. The unit mix includes two three-bedroom / two-bath units and four four-bedroom / two-bath units.

The $1.35 million purchase price equates to approximately $150.00 per square foot of building area and about $61,364 per bed. Property sold at a capitalization rate of 7.77 percent for the investment.

The property includes off-street parking and a hot tub and is positioned in Tucson’s Central submarket near the University of Arizona and Banner University Medical Center Tucson.

According to transaction information, the property was sold with management in place. The buyer plans renovations aimed at creating additional upside potential.

Allan Mendelsberg and Joey Martinez with Cushman & Wakefield | PICOR represented the transaction.

The property is zoned R-2 and is located within the Tucson Heights subdivision.

For more information, Mendelsberg can be reached at 520.546.2721 and Marinez is at 520.546.2730.

Source: RED Comp #12681




Marcus & Millichap Arranges $4.13 Million Land Sale for Planned Hotel in Phoenix

Planned Hotel

PHOENIX, (Aug. 28, 2026) — 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 a 2.28-acre development site in north Phoenix for $4.125 million.

“This acquisition gives Caliber a strategically located site near one of the most significant employment and development corridors in the Phoenix metropolitan area,” said Michael Farrar, associate director investments. “TSMC’s continued expansion is driving substantial activity in north Phoenix, creating opportunities for new hospitality and commercial development to serve the area’s growing workforce.”

Farrar and Art Rullo, investment specialists in Marcus & Millichap’s Phoenix office, represented the buyer, Caliber, in the acquisition from Sonoran Desert Retail LLC.

The 2.28-acre property is located at 2800 W. Sonoran Desert Drive, near 29th Avenue and adjacent to TSMC’s north Phoenix campus.