OFFICE SPACE – 2030 EAST BROADWAY BLVD., TUCSON
A-Team Security leased 850 sq. ft. at 2030 E Broadway Blvd. in Tucson from Butera Real Estate, Inc. Thomas Unger of Butera Real Estate handled the transaction.

RETAIL SPACE – 7375 WEST BELL RD, PEORIA
Tres Amigos World Imports Holding Company has leased 22,115 sq. ft. at Arrowhead Palms Shopping Center, 7375 W Bell Road in Peoria Arizona. Tres Amigos specializes in the sale of Spanish Colonial, Mexican and Tuscan-themed furniture and accessories. Rick Borane of Volk Company Commercial Real Estate of Tucson represented the tenant. Donna Reece of Zell Commercial Real Estate of Phoenix represented the landlord, Arrowhead Palms, LLC.

RETAIL SPACE – 5635 E RIVER ROAD, TUCSON
Sparkle Cleaners leased 945 sq. ft. at the River Center, at 5635 E River Road in Tucson, at the northeast corner of River and Craycroft Roads from Larsen Baker. Andy Seleznov and Melissal Lal of Larsen Baker represented the landlord.

RETAIL SPACE – 3843 N ORACLE ROAD, TUCSON
1 Hour Glass leased 1,200 sq. ft. at 3843 N Oracle Road from Tesoro Enterprises, LLC. Gary Emerson of GRE Partners, LLC represented the landlord.

RETAIL SPACE – AT TUCSON SPECTRUM
National Vision leased 2,530 sq. ft. at Tucson Spectrum, on the southwest corner of I-19 and Irvington Road from DDR of Beachwood, OH. Nancy McClure and Jayme Fabe of CBRE represented the landlord and Jeff Zellet of Picor Commercial Real Estate represented the tenant.

To submit sales or leases email [email protected]

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The infill property, known as the “Donut Hole” at Rancho Vistoso in Oro Valley, so named because of the way the golf course wraps around it, was purchased by True Life Communities a private company of San Ramon, CA (Taber Anderson, CIO). In August 2012, the developer purchased 168 acres for $10 million (about $60,000 per acre) and recently acquired an additional 26 acre out piece for[mepr-show rules=”58038″]$3.44 million, (about $132,000 per acre) as part of the ‘Donut Hole’ project.

Arizona Vistoso Return, LLC an entity of Armed Forces Bank of Kansas City, MO (David Frances, EVP) sold the first 168 acres to the investor/developer; it was an REO sale. The seller of the next 26 acres was Vistoso Partners, LLC, a privately-held company in Tempe, AZ (Ashton Wolfswinkel, manager).

True Life Communities has assembled 194 acres, and reportedly has 70 acres designated for open space, for a total of 124 net acres for development of roughly 400 residential lots ($33,600 per lot).

Will White of Land Advisors Organization of Tucson handled both transactions for the developer and has been retained to co-manage the marketing and homebuilder sales for True Life Communities. Discussions with several homebuilders for platted and engineered lots has already begun with the True Life Team.

The Real Estate Daily News on Feb 27, 2013 reported “Rincon Knolls Goes For $6.1 Million”, please see this related transaction for more information.

Taber Anderson can be reached in the Phoenix office at (602) 626-8777. David Frances of Armed Forces Bank is at (816-472-0081 ext. 26076. Ashton Wolfswinkel at Vistoso Partners can be contacted at (480) 831-2000. Will White of Land Advisors is at (520) 514-7454.

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Feb. 22, 2013 Rick Engineering Company, Inc. (Paul Iezzi, President and Bruce Paton, Secretary), a division of Rick Engineering of San Diego, purchased four office condos on two-stories, with an aggregate of 16,900 sq. ft. for[mepr-show rules=”58038″]$3.5 million, or $207 per sq. ft. at the Puente Nuevo Plaza, 3945 E Fort Lowell Road in Tucson.. Rick Engineering was previously a tenant of the same space in the 27,000 sq. ft. two-story building. The seller was Puente Nuevo Development, LLC of Park City, UT an affiliate of Craig Masters Investment of Tucson (Craig Masters, principal).

Rick Engineering has been working in Tucson since 1987, and moved into its current office at Puente Nuevo in 2008, shortly after the building was completed. Puento Nuevo Plaza sits on 5.6 acres at the northeast corner of Alvernon and Fort Lowell, other tenants in the building include Dehnert Dental and Congressman Ron Barber.

Rick Engineering is a privately-owned corporation founded 1955 by Glenn A Rick in San Diego that offers a full scope of planning, design and engineering services. Today, it has eight locations in San Diego, Riverside, Orange, Sacramento, San Luis Obispo, and Bakersfield in California, and Phoenix and Tucson in Arizona serving the Southwest.

Some of its projects in and around Tucson include La Encantada, Gladden Farms Master Community, Williams Center, Cienega High School in Vail, The Gallery at Dove Mountain, Loews Ventana Canyon Resort, Miraval Resort & Spa, Tangerine Crossing, Rancho del Lago Clubhouse & Golf Course, Titan Missile Museum in Sahuarita, University of Arizona Learning Center, Intuit, Raytheon ATA Building, Joesler Village, Whetstone Ranch and Texas Instruments.

According to Bruce Paton, a partner with the Rick, “the decision to buy now instead of continue leasing was made because of the current low interest rates and favorable terms that were able to lower their monthly overhead.”Financing was handled by Donna Cotlow, Sr. Business Development Officer at Wells Fargo Bank SBA Lending. There were no real estate brokers involved in the transaction.

For more information on Rick Engineering, contact Bruce Paton at (520) 795-1000. Craig Masters can be reached at (520) 615-5268. Call Donna Cotlow of Wells Fargo SBA Lending is at (520) 577-2200.

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