Local CCIM Elected to Serve as First Vice President Region 2 of CCIM Institute for 2020

Craig Finfrock, CCIM, First RVP CCIM Institute

Tucson, AZ — The Southern Arizona Chapter of CCIM Institute – Craig Finfrock, CCIM was elected to serve as First RVP for CCIM Institute’s Region 2 for 2020 on April 20, 2019. The election was held by the Region 2’s Chapter Presidents. Region 2 includes California, Arizona, Nevada, and Hawaii and is the CCIM Institute’s largest Region.

Craig Finfrock is the immediate past President of the Southern Arizona Chapter of CCIM Institute and has served on this Chapter’s Board since 2015. Currently, Mr. Finfrock serves on the CCIM Institute’s Designation Committee and Chapter Activities Subcommittee.

CCIM Institute is a global community of 13,000 members, more than 50 chapters, and 30 countries that educates and connects the world’s leading experts in commercial real estate investment strategy, financial analysis, and market analysis.

Learn more about CCIM Institute’s education and designation program at ccim.com.

Houghton Town Center Ends Year with Investment Sale and New Surf Thru Car Wash Site

9172 S Houghton Rd., Tucson, AZ

TUCSON, ARIZONA – Houghton Town Center is a highly successful 60-acre community center located on Houghton Road north of I-10 and serving Rita Ranch, Vail and southeast Tucson.  Anchors include Walmart, Discount Tire, TJ Maxx, AutoZone, Petco, Brake Masters, Nationwide Vision, SuperCuts and Ross Dress For Less joined by numerous restaurants, retailers and service tenants including Northwest Emergency Center and Hughes Federal Credit Union.

Jaime Medress of Marcus & Millichap in Phoenix represented Houghton Developers’ affiliate, HTC Shops III LLC (Bill Kelley, manager) in the sale of a 9,075-square-foot retail pad at Houghton Town Center for $3.51 million ($387 PSF) at 9172 S Houghton Road, Tucson.

The buyer is an investor from San Diego, NWCD, LLC an affiliate of DePrima Ventures (Dave Karlman, director). The property was fully leased at time of sale with four tenants: Jersey Mike’s Subs, Realty Executives, Sunstreet Mortgage and Inverse Jiu Jitsu.

The buyer was represented by Bryce Karlman of CBRE San Diego / Northern Baja office.

In a separate transaction, Brenna Lacey and Jeramy Price of Volk Company represented Houghton Developers, LLC in the $925,000 ($15.42 PSF) sale of approximately 60,000-square-feet of land at 10206 & 10212 E Old Vail Road in the Houghton Town Center to Surf Thru, Inc. of Bakersfield, CA.

Surf Thru purchased the site for its fourth Car Wash in the metro Tucson region.

Craig Finfrock of Commercial Retail Advisors represented Surf Thru.

For additional information, Medress can be reached at 602.687.6700 and Karlman is at 858.546.2605. Lacey and Price should be contacted at 520.326.3200 and Finfrock is at 520.290.3200.

To learn more, see RED Comp #6431 and #6449.

Tucson Lease Report August 6-10, 2018

Tucson Lease Report Aug. 6-10, 2018

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from Aug. 6 thru 10, 2018.

Bay Insulation of Arizona leased 8,600 square feet of industrial space from Dodge Properties, LLC. The property is located at 3133 South Dodge Boulevard. The landlord was represented by Gary Emerson of GRE Partners, LLC and the tenant was represented by Tim Healy Jr. of CBRE’s Tucson Office and Bill Bayless of CBRE’s Phoenix Office.

Starbucks recently finalized a lease of 2,400-square-feet at The Crossing at Sahuarita. The Sprouts anchored project is located at the southeast corner of Nogales Highway and Abrego Drive in Sahuarita, Arizona.  The center is leased by Brian Gast and Dave Cheatham of Velocity Retail Group, with Brenna Lacey of The Volk Company in Tucson as co-listing agents.  Greg Furrier with Cushman & Wakefield / PICOR represented the tenant in the transaction.  The landlord ownership group is a partnership between Wadsworth Development Group and Accelerated Development Services.

Brian Gast and Bonnie Arlia of Velocity Retail recently negotiated a lease for a 2,200-square-foot Go Wireless – Verizon store in the Shoppes at Continental Ranch in Marana, Arizona.  The Safeway anchored center is located at the southeast corner of Twin Peaks and Silverbell Roads.  The store will be located in a newly constructed building along Silverbell at the entrance to the shopping center.  Craig Finfrock of Commercial Retail Advisors in Tucson represented the Landlord in the transaction.  This is the 6th new location the team has completed for this tenant in the last year.

Solee Enterprises, a chicken wing concept restaurant, leased 1,750 square feet at Rita Ranch Shopping Center located at 9040 E. Valencia Road, Tucson, AZ.  Dave Dutson with NAI Horizon represented the landlord in this transaction.

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