Cotlow and Romano Negotiate Vermeer Southwest Lease in Tucson

1790 West Sahuaro Dr., Tucson

TUCSON, ARIZONA — Vermeer Sales Southwest, Inc. leased 1790 West Sahuaro Drive in Tucson, a 7,853-square- foot industrial building with approximately 1.27 acres from South Central Properties of Texas, Inc.

Vermeer Southwest has had a continuous presence in the southwest United States serving Arizona, New Mexico, and greater Las Vegas since 1989, and now proudly serve the southern New Mexico and West Texas area with our El Paso location. It carries the full-line of Vermeer industrial equipment and partners with seven ancillary brands to offer convenient one-stop shopping; Sherrill, McLaughlin, Vac-Tron, Yanmar, Atlas Copco, DCI and Felling Trailers. It supports products with dedicated, factory-trained sales staff, with an extensive parts inventory, experienced service technicians, and top-notch service facilities.

Vermeer Southwest has many years of experience supplying industrial equipment that can stand up to the most diverse and roughest working conditions the Southwest has to offer. Vermeer Southwest has received the Dealer Platinum Award, the highest award Vermeer Corporation offers, for eleven years beginning in 1999. This accomplishment earned Vermeer Southwest an induction into the Vermeer Hall of Fame. At Vermeer Southwest, it is all about customers and it prides itself on offering consistently exceptional customer service.

Its parts departments are stocked with genuine Vermeer parts and accessories and its parts specialists have access to the most accurate and up-to-date parts manuals through Vermeer’s online parts catalog system. It’s the right tool to find the parts you need. The service departments have decades of experience supporting Vermeer and other industrial equipment. Through Vermeer University Service Technician Certification Program, service technicians are trained and tested in the latest skills and technologies. With conveniently located service centers and a fleet of fully-equipped service trucks, Vermeer Southwest can service equipment anywhere in the Southwest.

Dean P. Cotlow of Cotlow Company represented the landlord and David Carroll of Romano Real Estate Corporation represented the tenant.

To learn more, Cotlow can be reached at 520.881.8180 and Carroll should be contacted at 520.577.1000

[mepr-show rules=”58038″]Reported to us Jan. 7, 2019. Asking lease rate: 9.36 / SF / Industrial Gross[/mepr-show]

Romano Real Estate Sells Pavilions Shopping Center in Mesa for $15.3 Million

Pavilions Shopping Center, 1837-1955 W Guadalupe Road, Mesa, AZ

PHOENIX, ARIZONA – Romano Real Estate of Tucson announced this week the sale of the Pavilions Shopping Center in Mesa for $15.3 million ($123.07 PSF). The 129,601-square-foot mixed-use neighborhood retail center was built in 1986 on 10.41 acres of land located at 1837-1955 W Guadalupe Road in Mesa, Arizona, at the southeast corner of Dobson and Guadalupe Roads.

David Carroll and John Yarborough with Romano Real Estate Corporation represented the seller, Pavilions Shopping Center Limited Partnership, and David Jarand with Strategic Retail and West Valley Properties, Inc., dba West Valley Arizona represented the California investor, CP6PV, LLC.

The property sold 98% occupied with a variety of tenants that include five quality restaurants (including Native Grill & Wings, La Famiglia Pizza & Pasta, Barbeque House, and Pink Pepper Thai Cuisine), an event center, fitness & dance uses (including Anytime Fitness), furniture uses, both medical and office uses (including Banner Urgent Care), fashion boutiques, and several other complimentary uses.

The cap rate on 2018 scheduled income was 7.69%.

Romano Real Estate Corporation took over the leasing of the property in 2016 and leased nearly 37,000-square-feet in the Center bringing the occupancy level up to 98%. Many of the leases are still below market rents, allowing the investor a “Value Added” opportunity.

“The leasing effort lead to the sale of property,” said Carroll. “In 2016, when we took over the property, it was 75% occupied. We then leased approximately 32,000-square-feet at the center to ‘Amazon-proof’ type of tenants to bring it up to the stabilized 98% occupancy it sold at.”

Romano is active with other retail centers in the Phoenix and Tucson markets.

For more information, Carroll should be reached at 520.577.1000 ext. 7114 and Yarborough is at 520.577.1000 ext. 117.

Tucson Lease Report Dec 11-15, 2017

Tucson Lease report 3-13-16
Tucson Lease Report Dec. 11 – 15, 2017

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from Dec. 11 thru Dec. 15, 2017.

Latitudes Furniture, LLC leased a 12,100-square-foot building at 4721 East Broadway Boulevard, Tucson. The tenant was represented by Rob Tomlinson of Cushman & Wakefield PICOR. Kevin Volk of Volk Company represented the landlord, Volk Holdings LLC and Volk Vision LLC. [mepr-show rules=”58038″]Asking lease rate: $7.75 SF/YR NNN; Tenant Phone: 520.903.7597[/mepr-show]

American Charter Schools Foundation leased 6,000-square-feet at 1820 East Irvington, Tucson. The tenant plans to offer elective high school classes. The space is located within Irvington Plaza, which includes tenants such as O’Reilly Auto Parts, Goodwill, Walgreens, and eegee’s. Justin Himelstein of Cushman & Wakefield represented the Tenant. Kevin Volk and Debbie Heslop, CCIM, of Volk Company represented the Landlord, EC Irvington Foundation, LLC. [mepr-show rules=”58038″]Asking lease rate: $9.50 SF/YR NNN; Tenant Phone: 520.943.4456[/mepr-show]

Grasky Endurance Coaching has leased a 4,637-square-foot space at Crossroads Festival, located at the NE corner of Grant Rd and Swan Rd The Premises will be used for the sale and service of bicycles and related accessories, bicycle training, and for the sales of related products and services. They are scheduled to open for business February 2018. Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while David Carroll of Romano Real Estate, represented the Tenant.

APEX Mixed Martial Arts has leased a 4,030-square-feet space at Wetmore Plaza, located on the NW corner of Oracle Rd. and Wetmore Rd. The Premises will be used as a martial arts studio specializing in MMA, self-defense, boxing and relating training classes. They are scheduled to open for business March 2018. Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker. [mepr-show rules=”58038″]Tenant Phone: 520.344.4842[/mepr-show]

Medical Management Group leased 2,822-square-feet of office space at 10195 Oracle Road in the El Conquistador Executive Park. Dave Hammack of Volk Company Commercial Real Estate represented the tenant. David Montijo and Damian Wilkinson of CBRE represented the landlord, Leximar, LLC, in the transaction. [mepr-show rules=”58038″]Asking lease rate: $22.00 SF/YR Modified Gross[/mepr-show]

Break Out Studios, LLC has leased 2,400-square-feet at 5811-5813 E. Speedway Blvd., from Reddington Plaza, LLC.  Robert Nolan of Oxford Realty Advisors handled the transaction. [mepr-show rules=”58038″]Tenant Phone: 520.670.1201[/mepr-show]

Boost Mobile has leased a 1,200-square-feet space at Speedway & Craycroft Plaza, located on the SW corner of Speedway Blvd. & Craycroft Rd. The Premises will be used as a Boost Mobile franchise store. They are scheduled to open for business January 2018.  Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker. [mepr-show rules=”58038″]Tenant Phone: 520.305.1176[/mepr-show]

Tommy and Annette Wood (for a Farmers Insurance office) leased 1,180-square-feet at 11015 North Oracle Road, Suite 151, Tucson. The space is located within the Steam Pump Village shops building, which is now 100% leased. Steam Pump Village is a mixed-use project on the west side of Oracle Road, just north of First Avenue, and includes Carpet One, Basis School Oro Valley, Chili’s, Native Grill & Wings, Freddy’s, Quik Trip, Holiday Inn Express Hotel & Suites, and new luxury apartments by HSL. Kevin Volk of Volk Company represented the landlord, Steamy Shops LLC and White Toys LLC. [mepr-show rules=”58038″]Asking lease rate: $22.00 SF/YR NNN[/mepr-show]

Quina and James McCalley leased 1,024-square-feet at 6544 East Tanque Verde Road, Suite 140. The space is located within La Plaza Shoppes, and the Tenant will operate as Quina McCalley Jeweler. The landlord, La Plaza Investors LLLP, was represented by David Carroll of Romano Real Estate. Jeramy Price of Volk Company represented the tenant.

Baked Tucson AZ Operations (d/b/a Insomnia Cookies) leased 1,004-square-feet of retail space at 345 E. Congress Street in the Plaza Centro. Michael Laatsch of CBRE represented the tenant. Greg Furrier of Cushman Wakefield | PICOR represented the landlord, CH Retail Fund I / Tucson Plaza Centro, LLC., in the transaction.