Southern Arizona CCIM Chapter Conversation Corner for April
TUCSON, Arizona — The following commercial real estate transactions totaling $7.96 million created a lot of conversation at the April meeting of the Southern Arizona CCIM Chapter, in case you missed it, we’re publishing them here as part of our CCIM Conversation Corner.
Schotzsky’s Restaurant at 3270 E Valencia sold March 16th for $775,000 ($229 PSF) in an all cash deal. The 3,383-square-foot building on .88 acre was included in the sale price. The buyer also purchased the franchise, furniture and fixtures in a separate transaction to continue operations as a Schlotzsky’s. John Hamner, CCIM, with Keller Williams represented the seller. Hamner has since moved over to Re/Max Excalibur in Tucson. Teale Bloom with Phoenix Commercial Retail Advisors represented the buyer, DWG Properties LLC (Gene Denison, manager). Bobbi Rayon at Title Security handled the escrow. To learn more, see RED Comp #5649.
Time Market owner, Peter Wilke, bought the 6,639-square-foot former Scordata’s at 4405 W Speedway Blvd in Tucson for $430,000 ($65 PSF). Tari Auletta, CCIM, of Keller Williams represented the seller and Kristy Kelley with Long Realty represented the buyer. Buyer plans to convert the 6,639-square-foot building on almost 2 acres to a Time Market. To learn more, see RED Comp #5655.
Derrick Sinclair, CCIM, with Terramar Properties sold 13 semi-custom SFR lots sold at Yolanda Oasis Estate in Catalina, at Golder Ranch and Twin Lakes Road for $700,000 or $53,846 per lot. Average lot size is 30,000-square-feet. Sinclair handled the transaction for the buyer, AF Sterling, and seller. Title Security handled the escrow. To learn more, see RED Comp #5617.
Gary Andros, CCIM, of Andros Properties sold the office building at 615 W Roller Coaster Road in Tucson for $670,000 ($140 PSF). Doug Marsh and Lori Casey with Oxford Realty Advisors represented the seller, Farmers Insurance Exchange and Andros represented the buyer. The 4,769-square-foot office building was built in 1981 on .81 acres. The financing was handled by the National Bank of Arizona, Justin Martinez. To learn more, see RED Comp #5651.
F&J Ruis Holdings, LLC purchased vacant land at 507 – 547 W. Lester, Tucson, AZ from Starnoff Investments, LLC for $249,000 ($4.89 PSF). David Blanchette, CCIM, with NAI Horizon represented the owners and Ron Zimmerman with Cushman Wakefield/PICOR represented the buyer in this transaction. To learn more, see RED Comp #5724.
The White Ohana, LLC purchased a 32,391-square-foot building on 4.26-acres at 3951 E. Columbia St. in Tucson for $3.65 million ($113 PSF). Rob Glaser, CCIM, SIOR, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller and Ted Liles with Cresa Global, Inc., represented the buyer, Firsterra Corporation of Costa Mesa, CA. To learn more, see RED Comp #5669.
Hawkins Investment Solutions, LLC purchased a 20,000-square-foot industrial building at 3260 E. 36th St. in Tucson, from Glazer’s Real Estate, LLC for $900,000 ($45 PSF). Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the buyer; Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented the seller. To learn more, see RED Comp #5695.
The Connie Rae Simonds Trust purchased a 5,272-square-foot multitenant office building located at 3808-3818 E. 5th St. in Tucson, from Wildcat Equities II, LLC for $582,503 ($110 PSF) as investment. Built in 1966, the masonry building sits on a .40-acre lot. Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the seller; Jim Briggs with Cornerstone Realty & Investments, LLC, represented the buyer. To learn more, see RED Comp #5699.
For more information on SOAZ CCIM Chapter and its upcoming monthly luncheon on May 8th click here.