UA MRED Back to School invites CCIM for Encore Visit
The Southern Arizona Chapter of CCIM and the Masters of Real Estate Development (MRED) hosted their first joint project of the new semester this week. CCIM and MRED began this joint project last year. This week’s presentation was held in the class of Drew Sanderford, PhD, Assistant Professor of Real Estate & Planning at the University of Arizona.
Presenters were Jason Wong, CCIM, with Red Point Development who spearheads the joint cooperative educational project, James Robertson, Jr., CCIM, with Realty Executives and Ryan Heinfeld, CCIM candidate, with Advisors in Real Estate. Also presenting to the class was yours truly, Karen Schutte, publisher of the Real Estate Daily News on “Why writing a real estate blog can be important and How Sales Comps are born”.
Larsen & Baker’s Don Baker, an MRED graduate and a CCIM candidate, added to a spirited discussion on the importance of up-to-date and accurate information in the real estate decision-making and how information comes from so many different sources these days. The media is less important than the knowledge of the person using it.
Tucson lives in the shadow of Phoenix but we also have our own story to tell, I tried to explain. The mission of the Real Estate Daily News is to tell the stories of our community and add relevancy to our real estate market in the process. We then walked through the creation of a sales comp, from affidavit of value, through the steps to an end, usable product with the recent Tenet Purchase of Carondelet as a comp study.
Heinfeld spoke about his personal experience as a CCIM candidate and what he liked about the four core classes and the pros and cons of taking them online or in person for the professional networking between members.
Robertson expanded more on the national and international opportunities that exist within the CCIM network and Wong concluded with the local networking resources and cooperation that exists between the commercial brokers in land, office, retail or industrial markets; appraisers; developers; investments; lenders and research such as Real Estate Daily News and RED Comps, a commercial real estate sales database for Southern Arizona.
Tucson Lease Report – February 23 – 27, 2015
Tucson Lease Report
The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from February 23 thru 27, 2015.
RETAIL – 5667 E. SPEEDWAY BLVD., TUCSON, AZ Tres Amigos World Imports, Inc. leased 19,410-square-feet within Speedway Square Shopping Center, located at 5667 East Speedway Boulevard. Tres Amigos specializes in the sale of Spanish Colonial, Mexican, and Tuscan themed furniture and accessories. The Landlord, Tucson Speedway Square LLC, was represented by David Carroll of Romano Real Estate. Rick Borane of Volk Company represented Tres Amigos World Imports, Inc. [mepr-show rules=”58038″]Tenant Phone: 520.531.0090[/mepr-show]
RETAIL – 4790 E. GRANT RD., TUCSON, AZ. QQ Sushi Restaurant leased 6,000-square-feet at 4790 East Grant Road Tucson. The tenant plans to open a conveyer belt style sushi restaurant. The space is located at the southeast corner of Grant and Swan within Grant and Swan Shopping Center, which is anchored by Petsmart and Trader Joe’s. Jason Wong of Crestline Properties represented the Tenant. Dave Hammack of Volk Company represented the landlord, C & C Land & Cattle Company. [mepr-show rules=”58038″]Tenant Phone: 520.882.2012[/mepr-show]
INDUSTRIAL – 1101 W. GRANT RD., TUCSON, AZ. Logistical Outcomes, LLC renewed their lease for 2,400-square-feet at 1101 W. Grant Rd., Suites 202-203 in Tucson from the Sloat Family Partnership, LLLP. Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.623.2463[/mepr-show]
OFFICE – 5501 N. ORACLE RD., TUCSON, AZ. Amistades, Inc. leased 2,253-square-feet at 5501 N. Oracle, Suite 125 in Tucson from Survivors Trust. Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant and Bruce Suppes with CBRE, represented the landlord in this transaction. [mepr-show rules=”58038″]Asking rate: $15.00 SF/YR Modified Gross; Tenant Phone: 520.882.8777[/mepr-show]
RETAIL – NEC FRY BLVD. & CORONADO RD., Sierra Vista, AZ. Go Green has leased a 1,444-square-feet space at Cochise Plaza, located on the NE corner of Fry Blvd. and Coronado Rd. in Sierra Visa, Arizona. The Premises will be used as an authorized Cricket Wireless retailer and for the sales of related products and services. They are scheduled to open for business July 2015. Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while Dave Dutson of NAI Horizon, represented the Tenant.[mepr-show rules=”58038″] Tenant Phone: 520.326.1664[/mepr-show]
INDUSTRIAL – 1870 W. PRINCE RD., TUCSON, AZ. Global Parts Solutions, LLC leased 1,440-square-feet at 1870 W. Prince Rd., Suite 34 in Tucson from Presson Corporation. Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking rate: $0.74 SF/MO Modified Gross; Tenant Phone: 520.579.5995[/mepr-show]
INDUSTRIAL – 850 E. OHIO ST., TUCSON, AZ. Rey Mendivil leased 1,390-square-feet at 850 E. Ohio St., Suite 20 in Tucson from RRL, Inc. Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Asking rate: $0.43 SF/MO / Modified Gross[/mepr-show]
OFFICE – 184 S. STRATFORD DR., TUCSON, AZ. Arizona Children’s Law, LLC leased 1,307-square-feet at 184 S. Stratford Dr. in Tucson from 420 Aviation, LLC. Brandon Rodgers, CCIM, and Tom Nieman with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Asking rate: $1.33 SF/MO / Modified Gross; Tenant Phone: 520.784.1799[/mepr-show]
INDUSTRIAL – 1840 E. VALENCIA RD., TUCSON, AZ. Strategic Advisors Group leased 989-square-feet at 1840 E. Valencia Rd., Building 8, Suite 200 in Tucson from Tucson Aeroplex, LLC. Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.[mepr-show rules=”58038″] Asking rate: $0.83 SF/MO / NNN; Tenant Phone: 520.577.5506[/mepr-show]
RETAIL – 2860 W. INA RD., TUCSON, AZ. Platinum Tax Service has leased 900-square-feet in Plaza Sonora at the northeast corner of Ina and Shannon Roads 2860 W. Ina Road, Suite 108, Tucson. Michael Lister, the owner of the tax consulting service, is planning to open March 1, 2015. Commercial Retail Advisors, LLC represented the Landlord, EJ Sonora Plaza, LLC and Platinum Tax Service did not have representation in this lease transaction. [mepr-show rules=”58038″]Tenant Phone: 520.706.9458[/mepr-show]
These three sales I thought were unique, one-of-a-kind sales in Tucson this week, although all are unique for different reasons, I just found them interesting little properties.
Taiwan Investor Sells Tokyo Rice Bowl on Campbell
Wei-Chuan Lei and Yu Hua Shao Lei of Taiwan have owed the property at 2807 N Campbell, home of Toyko Rice Bowl Restaurant for 20-years. The Tokyo Rice Bowl has been in the building for almost the same amount of time.
Jason Wong, CCIM, who represented the Lei family 20-years ago when they acquired it, recently purchased it from them for $240,000 ($209. PSF). The 1,146-square-foot building (built 1975) will continue to be leased to Tokyo Rice Bowl.
There were no other agents involved in the sale. To learn more Wong should be reached at 520.603.1191.
Ted’s Country Store, 2760 N Tucson Blvd., Tucson
Drawing Studio Purchases Former Ted’s Country Store
Brenna Lacy of Volk Company represented The Drawing Studio in its purchase of the former Ted’s Country Store at 2760 N Tucson Blvd in Tucson. The property consists of a 3,136-square-foot building (built 1980) on 39,412-square-feet of land, allowing room for future expansion of the non-profit’s facilities.
The purchase price was $460,000. The seller was the Contes Family Trust (Theodor & Angeline Contes, Trustees) which was represented by Buzz Isaacson of CBRE in Tucson.
Brenna Lacy also serves on the board of directors for the non-profit. To learn more Lacey can be reached at 520.326.3200 and Isaacson is at 520.323.5151.
Fruit Stand at Speedway & 6th Avenue Tucson
Fruit Stand at Speedway & 6th Avenue Sold
Rob Tomlinson of Cushman & Wakefield | Picor represented the seller of the fruit stand and residence at 1101, 1125 N 6th Avenue and 135 E Speedway in Tucson. Mary A Gruber, LLC (Michael Goodman) purchased the 1,153-square-foot structure that sits on a 16,041-square-foot lot for $150,000 for land value.
The seller was Miller & Holmes of Hudson, WI who for the past 55 years has rented the fruit stand and house built in 1918. Paying $500 per moth at time of sale.
To learn more Tomlinson may be contacted at 520.546.2757
The Southern Arizona Chapter of CCIM and the Masters of Real Estate Development (MRED) hosted their first joint project of the new semester this week. CCIM and MRED began this joint project last year. This week’s presentation was held in the class of Drew Sanderford, PhD, Assistant Professor of Real Estate & Planning at the University of Arizona.
Tucson lives in the shadow of Phoenix but we also have our own story to tell, I tried to explain. The mission of the Real Estate Daily News is to tell the stories of our community and add relevancy to our real estate market in the process. We then walked through the creation of a sales comp, from affidavit of value, through the steps to an end, usable product with the recent Tenet Purchase of Carondelet as a comp study.
