Sales of office buildings picked up in the first month of Q2, with over $7.89 million in total volume, up from $13.5 million total for the three months in first quarter.

One of the growing trends found has been in the outpatient surgical center industry that reports indicate represent about 6,300 centers nationwide, with a combined annual revenue of about $24 billion.

XENA, LLC bought the office building at 3900 East Broadway Blvd. in Tucson for conversion to medical space and an outpatient surgical center. The 9,116-square-foot office building commanded a sale price of $1,914,360 ($210 PSF).

Formerly occupied by Western Emulsions, the property was vacant at time of sale and will be owner occupied by the buyer for an Internal Medicine practice and surgical center. The property appealed to the buyers for its central location and visibility at the southeast corner of Broadway and Alvernon, in vicinity to several other outpatient surgical centers.

Buzz Isaacson with CBRE in Tucson represented the seller, Eklund & Eklund, LLC and Tari Auletta, CCIM, with KW Commercial in Tucson represented the buyers.

For more information, Auletta should be reached at 520.235.2727 and Isaacson is at 520.323.5151.

To learn more, see RED Comp #3850.

In a separate transaction, 6303 Tanque Verde, LLC of Tucson purchased an approximately 30,588-square-foor building on 67,433-square-feet of land at 6303 East Tanque Verde Road in Tucson from Brinton Investments LLC of Willcox, Arizona.

The property was 60% occupied at time of sale with potential tenants that could bring it up to 80% occupied. Buyer purchased the property for upside potential. The unique property has an atrium in the middle that tenants use for company barbeques.

Michael Gross of Tucson Realty & Trust Co. represented the seller and John Weaver, Real Estate Broker, also in Tucson, represented the buyer in the transaction.

For more information, Weaver should be reached at 520.298.3010 and Gross can be contacted at 520.577.7000. Gross is also handling the leasing of the property.

To learn more, see RED Comp #3813 and #2329.

Login for additional information.

[mepr-show rules=”58038″]Sale price for 6303 E Tanque Verde was for $1.7 million ($56 PSF). Seller purchased property in October 2014 and was in escrow for one-year by seller’s request to hold off closing[/mepr-show]

Tucson office sales in 2014 saw increased volume over 2013. The full RED Comps Office report will be out soon, but in the meantime, here are the final year-end office sales totaling $3.7 million from December 2014.

NORTHEAST SUBMARKET

Brinton Investments (Carol & Mark Brinton) of Wilcox, AZ purchased the approximately 30,000-square-foot office building at 6303 E Tanque Verde Rd in Tucson for $1.492 million ($50 PSF). The property sits on an approximately 67,433-square-foot lot located at the corner of Tanque Verde where Pima and Wilmot intersect. The unique value-add property has an atrium in the middle that tenants use for company barbeques and was 60% occupied at time of sale.

Michael Gross with Tucson Realty & Trust Company in Tucson represented the seller, Roben Family Limited Partnership, LP of Bainbridge Island, WA and John Weaver of John A Weaver Broker in Tucson represented the investor. See RED Comps #2329 for more information.

To learn more Gross should be contacted at 520.577.7000 and Weaver is at 520.298.3010.

Tanque Verde Group LLC of Tucson (Edward Akins, manager) purchased the mixed-use retail / office building at 6842 E Tanque Verde in Tucson for $950,000 ($108 PSF). The first floor retail was vacant at time of sale with 5,253-square-feet available and the second floor was occupied by three office tenants. The buyer plans to occupy the available office space upstairs and lease the downstairs. The were no brokers involved, Rodger Ford of Anthem Equity was a principal in the selling group, Nicholson Investors, LP and handled the transaction. See RED Comp #2297 for more information.

To learn more contact Diana Dessy at Anthem, 520.886.1226 x226.

BCPT Properties of Tucson bought a 3,998-square-foot office condo at 7493 E Tanque Verde, in Tanque Verde Place for $907,760 ($227 PSF). The seller was the developer, TVP Development, an affiliate of Venture West Developers (Jordan Simon, Executive VP). The office was in shell condition and buyers will finish build out as a BodyCentral Physical Therapy Sports and Wellness Center. See RED Comp #2304 for more information.

Simon can be reached at 520.722.9292 x 103 to learn more about this transaction.

CENTRAL SUBMARKET

Joseph S Alpert, MD of Tucson purchased the office condo at 3615 N Prince Village Place, Suite 181 in the Prince Village Office in Tucson for $145,000 ($128.55 PSF). The seller, Luis and Roberto Felix, et al, and the buyer were represented by Peter Canacakos of Long Realty in Tucson. To learn more contact Canacakos at 520.907.9850 or see RED Comps #2343 for more information.

NORTHWEST SUBMARKET

West Mountain Healthcare, PLLC (Romina Lo-Montano, member) purchased a medical condo at 1625 W Ina Rd, Suite 117, in Tucson for $175,000 ($99 PSF). The seller was also a doctor, Elaine J Sapiro, DPM, PC. Ron Zimmerman of Cushman & Wakefield | Picor represented the buyer and Andrew Sternberg of Oxford Realty Advisors represented the seller. See RED Comp #2368 for more information.

Or contact the brokers to learn more, Zimmerman can be reached at 520.546.2755 ad Sternberg is at 520.232.0200 x115.