Tucson Office Condo Market is Brisk at Year End

2810 N Swan Road, Tucson, AZ
2810 N Swan Road, Tucson, AZ

Offices and office condominiums have been selling at a quick clip as we close on 2015. The following condominium sales took place in late November and December in Tucson.

Law Broski’s, LLC (Steven Centuori and Rene Alcoverde, Jr.) purchased a 3,013-square-foot office condominium in North Swan Condominiums, located at 2810 N Swan Road, Ste. 160 in Tucson from Buehler Properties, LLC of Tucson (Robert Buehler) for $527,275 ($175 PSF). The buyer purchased to owner occupy the space for the law firm Centuori & Alcoverde, PC. Janine Irvin of Mark Irvin Commercial Real Estate Services represented the buyer and Buzz Isaacson and Jeffrey Casper with CBRE in Tucson represented the seller.

For more information, Irvin can be reached at 520.620.1833, Isacccson is at 520.323.5100 and Casper should be called at 520.323.5181. To learn more, see RED COMP #3481.

4007 E Paradise Falls Drive, Tucson, AZ
4007 E Paradise Falls Drive, Tucson, AZ

Consensus Ventures, LLC of Tucson (Chris McLean) purchased a 3,191-square-foot office condominium at Rillito Crossing Corporate Center, located at 4007 E Paradise Falls Drive, Units 125 and 126 from William K Wonders, trustee of the Wonders Living Trust for $725,000 ($227 PSF). The office space was built in 2007 and vacant at time of sale. To learn more, see RED COMP #3455.

6041-6043 E Grant Rd, Tucson, AZ
6041-6043 E Grant Rd, Tucson, AZ

CGAA, LLC of Tucson (Amber Perry) purchased the 2,368-square-foot office condominium in Old Farm Executive Park, located at 6041-6043 East Grant Road in Tucson for $305,000 ($129 PSF) from Debra Budinger Meyer and Cynthia O’Rourke Sands. Built in 1996, the property sold with a tenant in 1,368-square-feet and two years remaining on the lease. Jordan Simon and Karen Ferrell of Venture West in Tucson handled the transaction.

For more information, contact Simon and Ferrell at 520.722.9292. To learn more, see RED Comp #3508.

1607 W Ina Road, Tucson, AZ
1607 W Ina Road, Tucson, AZ

Deriana Properties, LLC of Tucson (Ronald Deriana) bought the 1,514-square-foot office condominium, located in the Ina Road Professional Center at 1607 W Ina Road, from the National Bank of Arizona for $215,000 ($142 PSF). The buyer was a tenant prior to sale, dba Dr. Ronald Deriana, DDS.

For more information, see RED Comp #3509.

Page Holdings, LLC has purchased 2,112-square-foot office condominium at San Rafael Medical Center located at 6560 E. Carondelet Drive in Tucson from James and Vicky Sherman for $139,392 ($66 PSF). The transaction was conducted by CBRE’s Tucson office. The buyer was represented by Bruce Suppes. The seller was represented by Jeff Casper, David Montijo, and Damian Wilkinson.

For more information, Suppes, Casper, Montijo and Wilkinson can be reached through the CBRE office at 520.323.5100. To learn more, see RED COMP #3478.

7475 E Broadway Blvd, Tucson, AZ
7475 E Broadway Blvd, Tucson, AZ

Andrew and Brenda A Knapik of Tucson purchased a 1,700-square-foot office condominium, located in the Broadway Executive Plaza, 7475 E Broadway Blvd in Tucson from ACE CAT, LLC of Tucson (Ben Bradford) for $121,500 ($71.47 PSF). Built in 1980, the unit had been refurbished with new carpet and paint. Jon O’Shea with Vast Real Estate Solutions represented the seller in the transaction.

For more information, O’Shea can be contacted at 520.398.7104. To learn more, see RED Comp #3420.

2579 M First Ave, Tucson, AZ
2579 M First Ave, Tucson, AZ

Bouchard Properties, LLC of Tucson (Francis and Deborah Bouchard) purchased an 817-square-foot office condominium in Jacinto Business Plaza, located at 2579 N. First Ave. in Tucson, from Aaron J. Eden for $87,500 ($107 PSF).  Jeff Zellet, Commercial Specialist with Cushman & Wakefield | PICOR, represented the seller and Ellen Golden with GoldSmith Real Estate, represented the buyer in this transaction.

For more information, Zellet should be reached at 520.546.2739 and Golden is at 520.219.3100. To learn more, see RED COMP #3515.

 

 

 

 



Office Investment Sale in NW Tucson Fetches $4.9 Million

7740 N Oracle Road, Tucson
Office Casa de la Luz at 7740 N Oracle Road, Tucson

Office Investment Sells in Off-Market Deal

CB 109, LLC of Tucson (Eddy Chernecki, manager) purchased three office buildings totaling 21,896-square-feet at 7740-7760 N Oracle Road and 2560 E Vistoso Commerce Loop in Oro Valley for $4.9 million ($224 PSF). The properties were 100% leased at time of sale to Casa de la Luz Hospice for administrative offices.

The sellers were Vistoso LLC, Elcaro Xtra LLC and 7740 Oracle LLC, all managed by Rob Caylor of Tucson.

7740 N Oracle Rd (built 1985) and 7760 N Oracle Road (built 2012) are at Suffolk Hills and 2506 E Vistoso Commerce Loop (built 2008) is at Vistoso Commerce Plaza in Oro Valley, all class-A office space.

Financing for the transaction was provided by Melissa Galus of Vantage West Credit Union.

Eric Lamb, Jon O’Shea and Rob Fischrup with Vast Commercial Real Estate Solutions of Tucson handled negotiations for buyer and seller in this off market transaction.

To learn more contact Lamb, O’Shea and Fishrup at 520.398.7104.

 

 



Four Tucson Industrial Market Sales Total over $8.3 Million in final days of 2014

3301-3321 E Global Loop, Tucson, AZ
3301-3321 E Global Loop, Tucson, AZ

It’s been a tough few years for the Tucson Industrial Market, but Q4 ended on a high note, when the Industrial market saw 55% of its annual sales close in the last three months of the year. Although a decrease of 7.7% in sales volume from 2013, the market has trended slowly but surely in a growth direction each and every quarter during 2014.

Like the national market, the Tucson industrial market has the stage set, poised and ready, for a full recovery cycle in 2015.

The following four industrial sales, totaling over $8.3 million, wrapped up the rousing year end.

>> Holualoa Capital Management of Tucson purchased an 80,600-square-foot industrial building with excess land at 3301-3321 E Global Loop in Tucson for $3,035,000 ($37.66 PSF). The property is located in Tucson International Business Center and sold vacant with 9.38 acres of excess land. The building was previously occupied by Spectra-Physics and has 20,800-square-feet of clean rooms, a 9,800-square-feet R&D lab, 5,000-square-feet manufacturing space and 45,000-square-feet of office and 215 parking spaces. The buyer purchased to hold for investment.

Bill Divito and Jesse Blum of CBRE’s Tucson office handled the transaction for buyer and seller, Tarlow Family Investments II, LP of Prescott Valley, AZ and will also be marketing the property for sale of for lease. To learn more call Divito at 520.321.3339 and Blum at 520.321.3335.

5505 S Nogales Hwy, Tucson
5505 S Nogales Hwy, Tucson

>> 5505 Nogales, LLC of Greenfield, WI purchased an 81,094-square-foot industrial building (built 1988) at 5505 S. Nogales Hwy in Tucson for $2.8 million ($34.53 PSF). The seller was We Valoroso Holding Corp. of Phoenix (John Lynch, manager) and the property was 100% occupied by Fluoresco Lighting as Corporate Offices.

Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction. To learn more call Zimmerman at 520.248.0427.

4650 S Coach Dr, Tucson
4650 S Coach Dr, Tucson

>> An affiliate of the Presson Corporation of Phoenix (Daryl Burton, manager) bought the 33,082-square-foot industrial building at 4650 S Coach Drive in Tucson for $2.05 million ($62 PSF). The property was not on the market when it sold fully leased by four tenants.

Jon O’Shea, Rob Fischrup and Eric Lamb with Vast Real Estate Solutions of Tucson represented the seller, 3430 Sunrise, LLC of Tucson (Eddy Chernecki, manager). The buyer was represented by Rob Glaser CCIM, SIOR, Industrial Specialist with Cushman & Wakefield | PICOR of Tucson.

To learn more call O’Shea, Fischrup and Lamb at 520.624.9400 and Glaser at 520.546.2707.

>> Deb & Russ, LLC purchased a 12,765-square-foot industrial building at 1215 E Warehouse Ave in Tucson from American Builders & Contractors Supply Co., Inc. for $440,000 ($34.47 PSF). Deb & Russ operate Aztec Flooring, a locally owned and operated flooring company serving Tucson and Southern Arizona since 1967.

Stephen Cohen and Russ Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | Picor, represented the seller and Neal Manning of Manning Company Realtors in Tucson represented the buyer in this transaction.

To learn more call Cohen at 520.546.2750 and Manning at 520.325.6616.