Catalina Palms Plaza in Town of Catalina Sells for $1.975 Million

Catalina Palms Plaza,16701 N Oracle Rd.,Catalina, AZ

TUCSON, ARIZONA – Catalina Palms Plaza at 16701 N Oracle Road in Catalina, Arizona sold for $1.975 million ($151 PSF) to Jack R Schneider of Severance, Colorado.

The 13,096-square-foot strip center on 2.35 acres is located in the Town of Catalina drawing customers from Oro Valley to Saddlebrook. Oracle Road which is State Highway 77, is a major north and south route heavily traveled with increasing traffic counts.

Property has the potential of 9 units with the largest tenant being Marana Healthcare. There is also a Freedom Smoke, a dentist and a hair salon. Property was 76% occupied at time of sale with 1,000-square-feet vacant that buyer intends to leased to a family member for “Absolutely Art Gallery and Gifts”.

Lori Casey and Doug Marsh of Oxford Realty Advisors in Tucson represented the seller, Blue Dahlia Investments LLC of Santa Barbara, CA.

Casey says, “The limited commercial space availability in Catalina made the property particularly attractive. We had it leased quickly and put it on the market to sell in a fairly fluid transaction.” There seems to be plenty of buyers for good investment properties these days.

Mark and Janine Irvin with Mark Irvin Commercial Real Estate Services of Tucson represented the buyer.

For more information, Janine and Mark Irvin can be reached at 520.620.1833 and Lori Casey and Doug Marsh should be contacted at 520.232.0200.

To learn more, login and see RED Comp #5103 and go to RED Listing Registry for more properties like this.

 




Rio Nuevo Board Gives the Nod to HSL on Tucson Convention Center Hotel

Tucson Convention Center Hotel rendering (courtesy photo Swain & Associates)

TUCSON, ARIZONA — The Rio Nuevo Board of Directors took steps Tuesday to advance a Convention Center Hotel by un-shuttering the 300-room Hotel Arizona. The 13-story, 155,179-square-foot hotel sits on 3.56-acres with a stand-alone parking structure connected via skywalks at Congress / Broadway and Granada, adjacent to Tucson Convention Center (TCC), in Downtown Tucson

After a feasibility study was conducted by HVS to determine the hotel market conditions in downtown Tucson, the project had lots of support including Brent DeRadd, CEO for Visit Tucson, Glenn Grabski, GM for the Tucson Convention Center, and Bob Hoffman with the Tucson Roadrunners.  All made strong statements in support of the project.  Even a competitor spoke during the call to the audience, Brian Corbell from The Riverpark Inn spoke in full support of the convention center hotel coming back downtown.

Tucson Convention Center Hotel rendering (courtesy photo Swain & Associates)

The Hotel Arizona was built in conjunction with the Tucson Convention Center in the early 1970s and served as Downtown Tucson’s primary convention lodging facility until its closure in 2012. The hotel originally opened as Braniff Place and over the years has been branded as a Marriott and a Holiday Inn. The hotel is now expected to undergo an extensive renovation and modernization to reopen as a DoubleTree by Hilton, or similar brand, once again providing the Downtown with a large convention-oriented lodging facility.

The hotel is expected to include a fully renovated signature restaurant and a three-meal restaurant, as well as a lobby bar and lounge and banquet operations.

Other fully renovated amenities are expected to include a full-service business center with various workstations, a gift shop (featuring a grab-n-go market), wireless Internet access in the public areas, and possible retail boutiques.

The Architect is Swain and Associates of Tucson, the same architectural firm for the AC Tucson Hotel.

The Rio Nuevo Multipurpose District will allow the developer to recapture the Rio Nuevo Site Specific TPT taxes through 2025 and structure a GPLET for the property for up to 25 years.  The developer will spend $20 million to renovate the property.

Plans are to have it open by January 2019, in time for the Gem Show.

Edmund Marquez, a Rio Nuevo Board member, who made the motion to move forward said, “The redeveloped hotel is an opportunity to serve an under-served niche in the market. Based on other communities the size of Tucson, the downtown area is under-served for hotel rooms and that affects the TCC use. Despite current hotel projects underway, there is still greater opportunity downtown for lodging.”

Convention centers generate significant levels of demand for area hotels and serve as a focal point for community activity. Typically, hotels with the closest proximity to a convention center – up to three miles away – benefit the most. The 205,000-square-foot TCC has three Exhibition Halls that can share a total space of 89,760-square-feet. In 2015, the TCC underwent an $8 million renovation that included new seating, updated concession stands and new sound and visual aids. TCC also underwent management change when SMG took on the day-to-day operations from the City.

Last year, TCC become home to the Tucson Roadrunners, a new franchise and affiliate of the Arizona Coyotes.

According to Mark Irvin, Secretary of the Rio Nuevo Board, “By my count, Rio Nuevo has helped create close to 700-rooms downtown. There are 139-rooms opening this year at the AC Marriott, 109-rooms in due diligence phase at the Moxy Hotel, 125-rooms at Caliber Hotel and now 300-rooms more when HSL Hilton can be unshuttered. By working closely with the developers and using the arrows in Rio Nuevo’s quiver wisely, we have been able to make it happen.”

The project will now go to the City for GPLET approval.




Office Condo at Mesquite Corporate Center Sells to BodyCentral

Mesquite Corporate Center, 1640 E River Rd., Tucson, AZ

TUCSON, Arizona – BodyCentral Physical Therapy (Jennifer L Allen) purchased two office condominium spaces at 1640 East River Road in Mesquite Corporate Center in Tucson for $801,528 ($168 PSF).

The total 4,771-square-feet in this class A complex was built in 2001 and 1,361-square-feet was leased to Bon Voyage Travel when it sold. BodyCentral will occupy the remaining 3,410-square-feet for Body Central Physical Therapy Sports and Wellness Center.

Founded in 2001 and locally owned, BodyCentral Physical Therapy has grown rapidly. This will be its seventh clinic in Tucson providing treatment for all musculoskeletal problems. They also have special programs and lecture series on health and wellness, fit for surgery programs, pregnancy wellness, and osteoporosis prevention to name a few.

Janine Clayton Irvin, CCIM, and Mark Irvin, CCIM, of Mark Irvin Commercial Real Estate Services in Tucson represented the seller, Charles Pitts, and Aaron LaPrise of Cushman & Wakefield | Picor in Tucson represented the buyer.

For more information, Janine and Mark Irvin should be reached at 520.620.1833 and LaPrise should be contacted at 520.546.2770.

To learn more see RED Comp #4968  or visit RED Listing Registry for more properties such as this still available.

 




Tucson Lease Report June 12-16, 2017

Tucson Lease report 3-13-16The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from June 12 thru 16, 2017.

SPECIALTY – 100-126 W. 37th ST., TUCSON
StrengthBuilding Partners, dba Las Puertas Community School, leased 7,808-square-feet at 100-126 W. 37th St. in Tucson, from Tin Cup Properties, LLC.  Las Puertas Community School is a college readiness, tuition-free, public charter school serving grades 6-10.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. The team of Russell W. Hall, SIOR, GSCS, Stephen D. Cohen, and Kelly Fickle, Industrial Specialists with Cushman & Wakefield | PICOR, represented the tenant.

OFFICE – 5828 N. ORACLE RD., TUCSON
Concord General Contracting leased 4,048-square-feet of office space at 5828 N. Oracle Road. Jeff Casper of CBRE represented the tenant. Mark Irvin, CCIM, SIOR, of Mark Irvin Commercial Real Estate Services represented the landlord, Dr. Shara Pahdi, in the transaction.

 INDUSTRIAL – 1548 S. EUCLID AVE., TUCSON
Still Point Fencing Studio leased 4,000-square-feet at 1548 S. Euclid Ave., Suite B in Tucson, from Rich Rodgers North, Brandon Rodgers, CCIM, with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  Robert Fischrup with Vast Real Estate Solutions represented the tenant.

RETAIL – 1765 W. VALENCIA RD., TUCSON
Starbucks Corporation leased a 3,000-square-feet building at 1765 West Valencia Road. The building, which is currently under construction, is located at the southwest corner of Valencia and Indian Agency Road, adjacent to a brand new 100,000 square foot Fry’s grocery store. This is the first new Fry’s store to open in Tucson in almost ten years. Other tenants in the center include Nationwide Vision, Pizza Patron, and Great Clips. Greg Furrier of Cushman & Wakefield | PICOR represented the Tenant. Brenna Lacey of Volk Company represented the landlord, Steamroller Pad LLC.

INDUSTRIAL – 3534-3538 N. ROMERO ED., TUCSON
Chiral Research, Inc. leased 3,000-square-feet at 3534–3538 N. Romero Rd., Suites 112 and 118 in Tucson, from Costa Verde Investments, LLC.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 6383 E. GRANT RD., TUCSON
Milligan Dancesport, LLC, leased 2,135-square-feet at 6383 East Grant Road, Suite 115. The Landlord, EMET, LLC, was represented by Greg Boccardo, CCIM, of Boccardo Realty. Rick Borane of Volk Company represented the tenant.

OFFICE – 10371 N. ORACLE RD., ORO VALLEY, AZ
New Horizon Tutoring recently agreed to lease 1,265-square-feet of office space at 10371 N. Oracle Road, Oro Valley.  The owner of the property is The Lake Investment Group LLC.  Bob Davis of Tango Commercial Real Estate represented the tenant and Tom Nieman of Cushman Wakefield | Picor represented the tenant/landlord.

RETAIL – 4955 N. SABINO CANYON RD., TUCSON
Tamra Young Insurance Agency leased 1,140-square-feet at 4955 North Sabino Canyon Road, Suite 107, for a Farmers Insurance office. Jeff Zellet of Cushman & Wakefield | PICOR Commercial Real Estate represented the Landlord, HVIP, LLC. Jeramy Price of Volk Company represented Tamra Young Insurance Agency.

OFFICE – 1701 W. ST. MARY’S RD., TUCSON
Arizona Gastroenterology, Ltd. leased 1,000-square-feet of medical office space in Century Medical Plaza, 1701 W. St. Mary’s Rd., Suite 125 in Tucson, from Healthcare Realty Services Incorporated.  Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  David Montijo with CBRE, Inc. represented the tenant.

INDUSTRIAL – 2112 N. DRAGOON ST., TUCSON
Spray Works, LLC leased 1,000-square-feet at 2112 N. Dragoon St., Suite 20 in Tucson, from Rich Rodgers South, Inc.  Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 4056 E 22ND STREET, TUCSON
My Peak Wireless, LLC leased 960-square-feet at Randolph Plaza, located east of the southeast corner of 22nd Street and Alvernon Way. The address of the new store is 4056 E. 22nd Street, Tucson, AZ. My Peak Wireless has 31 stores nationally. The new store is expected to open July 2017. Craig Finfrock of Commercial Retail Advisors, LLC represented the Landlord, Randolph Plaza II, LLC, and the Tenant, My Peak Wireless, LLC, was represented by Marty Olejarczyk of GPS Retail Advisors in this lease transaction.




Tucson Lease Report June 5-9, 2017

Tucson Lease report 3-13-16The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from June 5 thru 9, 2017.

INDUSTRIAL – 6161 S. PALO VERDE RD., TUCSON
Cactus Portable Storage, LLC expanded and renewed their lease, for a total of 64,303-square- feet of space at 6161 S. Palo Verde Rd. in Tucson, with Colflin Cobalt I-II Owner, LLC.  Rob Glaser, SIOR, CCIM, and Brandon Rodgers, CCIM, Principal, with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  Aric Adams with Kidder Mathews, LLC represented the tenant.

OFFICE – 6375 E. TANQUE VERDE RD., TUCSON
Scientific Learning Corporation renewed their lease for 10,823-square-feet in Tri-Pointe Plaza, 6375 E. Tanque Verde Rd., Suite 200 in Tucson, from CSFB 2005-C3 Tanque Verde, LLC.  Rick Kleiner, MBA, and Isaac Figueroa, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  Mark Irvin, SIOR, CCIM, with Mark Irvin Commercial Real Estate Services, LLC, represented the tenant.

INDUSTRIAL – 19 W. VENTURA ST., TUCSON
Plumb Plumbing, LLC leased 5,940-square-feet at 19 W. Ventura St. in Tucson, from Long Far Investments, LLC.  Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  Tim Bathen with Arizona Acquisition Strategies represented the tenant.

OFFICE – 1055 N. LA CANADA DR., TUCSON
Associated Dermatology, PC expanded and renewed their lease with Healthcare Realty Services Incorporated for a total of 2,679-square-feet of medical office space, located at 1055 N. La Canada Dr., Suite 125 in Green Valley, AZ.  Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 3610 N. PRINCE VILLAGE PL., TUCSON
EcoPlan Associates, Inc recently agreed to lease 2,002-square-feet of office space at 3610 N. Prince Village Place, Tucson, AZ.  The owner of the property is CH53 Echo, LLC. Tom Hunt and Bob Davis of Tango Commercial Real Estate represented both the tenant and landlord.

INDUSTRIAL – 1021 E. PALMDALE ST., TUCSON
Mountain Valley Counseling Associates, Inc. leased 1,702-square-feet at 1021 E. Palmdale, Suite 110 in Tucson, from Foothills Business Ventures, LLC.  Isaac Figueroa, Office and Investment Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction.  Ian Stuart and Bruce Suppes with CBRE, Inc. represented the landlord.

RETAIL – 1686 W. VALENCIA RD., TUCSON
Suspiros Cakes, LLC leased of 1,500-square-feet at 1686 West Valencia Road. The space is located within Midvale Plaza, a Walmart-anchored center at the northwest corner of Valencia Road and Midvale Park Road. Jose Dabdoub of Dabdoub Commercial represented the tenant.  David Hammack of Volk Company Commercial Real Estate represented the landlord, HAM Midvale L.L.C.

OFFICE – 3870 N. ORACLE RD., TUCSON
Cash Time Motor Vehicle Services has leased the 1,460-square-foot space adjacent to their existing Cash Time Title Loan office in Oracle Gateway Center at the northwest corner of Oracle Road and Pastime Road. The new office will be for third-party motor vehicle services as authorized by the Arizona Department of Transportation – Motor Vehicle Division. The address of the new store is 3806 N. Oracle Road, Tucson, AZ. Craig Finfrock of Commercial Retail Advisors, LLC represented the Landlord, 3838 Oracle Plaza Joint Venture, LLC, and the Tenant, Cash Time Title Loan, Inc., did not have representation in this lease transaction.

INDUSTRIAL – 1660 S. RESEARCH LOOP, TUCSON
S Brothers, Inc. leased 1,440-square-feet in Clairemont Plaza, 1660 S. Research Loop, Suite 138 in Tucson, from Clairemont Partners, LLC.  Cushman & Wakefield | PICOR Industrial Specialists handled this transaction.   Rob Glaser, SIOR, CCIM, represented the landlord and Max Fisher represented the tenant in this transaction. Asking lease rate: $0.67 SF/MO Industrial Gross

OFFICE – 2001 W. ORANGE GROVE ROAD, TUCSON
Geoway, LLC, DBA A New Creation Women’s Clinic leased 1,400-square-feet of medical office space at 2001 Orange Grove Road in the Desert Life Medical Plaza. Jeff Casper of CBRE represented the tenant in the transaction.

OFFICE – 1171 E. RANCHO VISTOSO BLVD., TUCSON
Senior Home Care of Tucson, LLC leased 1,200-square-feet of medical office space at 1171 Rancho Vistoso Boulevard in the Mountain View Plaza. Bob Herd of Fairhaven Ventures represented the tenant. Bruce Suppes, David Volk and Michael Laatsch of CBRE represented the landlord, Town West Realty, Inc., in the transaction.

INDUSTRIAL – 245 S PLUMER AVE., TUCSON
Curb A Peel Property Maintenance, LLC leased 1,200-square-feet in Commerce Plaza, 245 S. Plumer Ave., Suite 30 in Tucson, from Plumer Partners, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction. 

OFFICE – 4560 E. BROADWAY BLVD., TUCSON
Ronald Lent leased 174-square-feet of office space in Midstar Plaza, 4560 E. Broadway Blvd., Suite 213 in Tucson, from Midstar Partners, LLC.  Isaac Figueroa, Office and Investment Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.




Good News for Q1 Tucson Office Market from 360-degrees

5151 E Broadway Blvd, Tucson, AZ

TUCSON Arizona — Everyone expected a positive Tucson Office Market report for Q1 2017 as it trends upward, but it may be doing even better than expected.

We spoke with Tom Nieman, Office Specialist at Cushman & Wakefield to ask what was happening.

Nieman told us from 2010-2015 office vacancy had hovered around the 12%-13% mark in Tucson. However, this first quarter 2017 had an office vacancy drop to 10.9%. That’s almost a full percentage point drop year-over-year from when it was 11.7%.

“Businesses are feeling optimistic with the economy doing better, and businesses growing need more space,” Nieman said. “Some are even buying land when they can’t find what they want to build.”

Sales volume, according to RED Comps, which tracks all commercial sales in Pima County, is up by 51.94% in Q1 year-over-year, with the median sale price rising from $275,000 in Q1 2016 to $390,000 in Q1 2017.

“We’re not out of it (the recession) yet, but we sure are seeing improvement,” Nieman remarked.

Another sign of the improving economy is at 5151 E. Broadway, an approximately 250,000-square-foot, 17-story, Class-A office tower in Tucson with 360-degrees of breathtaking views, where Rick Kleiner and Tom Nieman, represent the landlord.

When Bayview Loan Servicing recently leased 39,627-square-feet of office space at 5151, this marked an 85% occupancy for the building, with all the full floors now leased.

Mark Irvin, CCIM, SIOR, of Mark Irvin Commercial Real Estate Services, who specializes in the office market had this to say, “This may be the highest occupancy the building has ever experienced in the 30 years I have been focusing on office properties in Tucson.”

Janine Irvin, CCIM, and Mark Irvin have a sublease on the ground floor. “This leaves the block of space we are representing on the ground floor (Tucson College Space) the largest block – just over 40K SF.   That space, although occupied, is available for sublease.   Good news for both the market and for Tucson’s largest multi-tenant office building,” Irvin expressed.

Kent Circle Partners, an affiliate of Seldin Real Estate, Inc. of Scottsdale owns the 5151 E Broadway tower and with the renewed enthusiasm in the market is doing a major remodel of the lobby and elevators. Adding a Destiny Dispatch System to the elevators, an optimization technique used for multi-elevators, which groups passengers for the same destinations into the same elevators, thereby reducing waiting and travel times when compared to a traditional elevator system where all passengers wishing to ascend or descend enter the same elevator and then request their destination. This is but one of the upgrades the owners are currently undergoing at 5151 to modernize the building.

Kent Circle Partners specializes in acquiring high-quality mixed-use real estate assets.

For additional information, Nieman can be reached at 520.5446.2728, Kleiner is at 520.546.2745 while Janine and Mark Irvin should be contacted at 520.620.1833.

 

 




Downtown Tucson Law Office Sold for Investment Rehab

250 N Meyer Ave, Tucson, AZ

TUCSON, Arizona — A former law office at 250 N Meyer Ave. in Downtown Tucson sold to local investors, 250 N Meyer Investments LLC or Tucson (Ben Pozez and Michael Shiner, members) to renovate for lease. Located in Tucson’ s Central Business District, the one-story office building is situated at the northeast corner of Meyer Avenue and Council Street, a stone’ s throw away from all key downtown governmental buildings, the court system, museums and some of Tucson’ s best dining opportunities.

The property commanded a sale price of $682,500 ($90 PSF) in a short sale.

Originally constructed in 1956 as a single-family residence, the property was expanded and repurposed as a law office in 1971, and expanded again to its current size of 7,570-square-feet in 1978. Then completely renovated again in 2008.

The property consists of two contiguous parcels that total 19,109-square-feet.  It is zoned HO-3 (office zoning) which allows for office, medical, civic, and other similar land uses.

The seller, 250 N Meyer LLC (John Battaile and Alexandra Altfeld, members), was an owner occupant doing business as Battaile & Altfeld Law Firm for about 40 years there, and had designed the property as an attorneys’ office.  It is ideal for that use, but buyers are also ready to do a custom repurpose for a new use and new tenant.

Unlike most buildings downtown, it does have its own 24 on-site parking spaces that are controlled by a drop gate controlled access system, Pozez told us. The building’ s amenities include a landscaped courtyard view from several of the offices, and a fireproof walk-in vault for storage of documents and valuables.

Mark Irvin, CCIM, of Mark Irvine Real Estate Services in Tucson represented the seller and Michael Shiner of CXT Realty negotiated for the buyer as agent and one of the principles in the transaction.

For more information, Irvin should be contacted at 520.620.1833. For leasing information, Pozez can be reached at 520.237.9924.

To learn more, login for additional information.

 

 




Tucson Lease Report March 6 – 10, 2017

Tucson Lease report 3-13-16The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from March 6 thru 10, 2017.

INDUSTRIAL – 4175 S. FREMONT AVE., TUCSON
Filter Products Corp. leased 11,406-square-feet at 4175 S. Fremont Ave., Suites 102-103 in Tucson, from Doubletree Investments, Inc.  Since 1967, Filter Products Corporation has proudly served customers around the world. They save individuals and companies thousands of dollars each year by providing competitive pricing and superior service.  Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. Tim Healy with CBRE, Inc. represented the tenant.

RETAIL – 8981 E. TANQUE VERDE RD., TUCSON
Canyon Rose Academy leased 8,537-square-feet of retail space at 8981 E. Tanque Verde Road in the Bear Canyon shopping center. Peter Villaescusa and Jesse Person of CBRE and Melissa Lal, CCIM, and Andy Seleznov, CCIM, of Larsen Baker represented the landlord in the transaction. This will be the fifth location for Rose Management Group in Tucson and will be open for the 2017 fall semester.

OFFICE – 6565 E. CARONDELET DR., TUCSON
Genesis OB/GYN, PC renewed their lease with Tucson 6565 Medical Properties, LLC, and expanded their office space to a total of 7,198-square-feet at 6565 E. Carondelet Dr. in Tucson.  Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  Mark Irvin, SIOR, CCIM, with Mark Irvin Commercial Real Estate Services, LLC represented the tenant.

INDUSTRIAL – 4281 S. SANTA RITA RD., TUCSON
Larry Howard leased 4,695-square-feet at 4281 South Santa Rita Road, Tucson. The space, which features both dock and grade-level loading, is located within Tucson Business Park and will be used for distribution. Kevin Volk of Volk Company represented 4275 Santa Rita LLC the landlord.

RETAIL – 1702 S. WINMORE AVE., TUCSON
Centro Familiar Getsemani leased 4,000-square-feet at 1702 S. Winmor Avenue in Tucson from International Evangelistic Mission.  Denisse Angulo-Badilla, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 2026 E. PRINCE RD., TUCSON
Ft. Lowell Realty & Property Management, Inc. leased 3,513-square-feet of office space at 2026 E. Prince Rd. in Tucson, from Prince Road Professional Plaza, LLC.  Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.  The tenant represented themselves in this transaction.

RETAIL – NW CORNER of I-19 and IRVINGTON RD., TUCSON
Southern Arizona Urgent Care leased 3,500-square-feet of retail space in Tucson from Irvington Interstate Partners, LLC.  Situated at the northwest corner of I-19 and Irvington Rd. in the Fashion Park Shopping Center, this will be the eighth Southern Arizona Urgent Care location serving the Tucson market.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant. Alan Tanner and Brig Stevens with Bourn Advisory Services, LLC, represented the landlord in this transaction.

RETAIL – 7401 N. LA CHOLLA BLVD., TUCSON
American Red Cross leased 2,985-square-feet of office space in the Foothills Mall, 7401 N. La Cholla Blvd. in Tucson, from FHM Partners.  Greg Furrier, Retail Specialist with Cushman & Wakefield | PICOR, and Peter Omundson with Jones Lang LaSalle Americas, Inc., represented the tenant in this transaction.

RETAIL – 4508 E. BROADWAY BLVD., TUCSON
The Little Bird Nesting Company will be moving May 1st to a 2,504-square-feet of retail space at 4508 East Broadway Blvd. in the Midstar Plaza shopping center. The tenant was represented by Jeramy Price of the Volk Company. Nancy McClure of CBRE represented the landlord, Midstar Partners, LLC in the transaction.

RETAIL – 541-599 W. 4th ST, BENSON
Asian Bistro, LLC leased 2,480-square-feet at Butterfield Plaza; Dave Dutson and Ben Craney, with NAI Horizon represented both landlord and tenant in this transaction.

RETAIL – 2890 E. SKYLINE DR., TUCSON
San Antonio Shoe, Inc., leased approximately 2,384-square-feet at Plaza Colonial, 2890 East Skyline Drive, Suite 190. The Landlord, Plaza Colonial LLC, was represented by David Carroll of Romano Real Estate. Debbie Heslop, CCIM, of Volk Company represented San Antonio Shoe, Inc.

OFFICE – 9356 E. RITA RD., TUCSON
Patriot Internal Medicine, LLC leased 2,236-square-feet of medical office space at 9356 E. Rita Rd., Suite 140 in Tucson, from TMC Holdings, Inc.  Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, handled this transaction.

OFFICE – 1152 N. CRAYCROFT RD., TUCSON
Dempsey’s Boarding Care, LLC has leased 2,177-square-feet at 1152 N. Craycroft Road, from Deebco Properties.  Andrew D. Sternberg and Robert J. Nolan of Oxford Realty Advisors handled the transaction.

INDUSTRIAL – 3865 E. 34th ST., TUCSON
ProLam Plus, SP leased 2,095-square-feet in Alvernon Business Center, 3865 E. 34th St., Suite 101 in Tucson, from AP & D Investments, LLP.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction.

INDUSTRIAL – 305 S. EUCLID AVE., TUCSON
II-VI Optical Systems, Inc. leased 1,875-square-feet at 305 S. Euclid Ave., Suite 103 in Tucson, from Pascoe Investment-Arizona, LLC.  II-VI Optical Systems is a leading provider of high precision optical assemblies, systems and components for the defense/security, aerospace, medical and commercial industries.  Russell W. Hall, SIOR, GSCS and Stephen D. Cohen, Industrial Specialists with Cushman & Wakefield | PICOR, and Broker Assistant, Kelly Fickle handled this transaction.

RETAIL – 3630 W. TANGERINE RD., MARANA
Dove Mtn. Treats, LLC, dba Dairy Queen, leased 1,800-square-feet of retail space in The Shoppes at Tangerine Crossing, 3630 W. Tangerine Rd. in Marana, from Old Lobos T & T, LLC.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  Rommie Mojahed with SVN / Desert Commercial Advisors represented the tenant.

RETAIL – 1830 E. BROADWAY BLVD., TUCSON
Walgreens leased 1,800-square-feet in the Marketplace On Broadway, located at the southwest corner of Broadway Blvd. and Campbell Ave. in Tucson, from Broadway Tucson Investors, LLC.  Greg Furrier and Rob Tomlinson, Retail Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 4990 S. CAMPBELL AVE., TUCSON
Boost Mobile leased 1,600-square-feet of retail space at 4990 S. Campbell Ave., Suite 100 in Tucson, from Sabre-Campbell, LLC.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, handled this transaction.

OFFICE – 4400 E. BROADWAY BLVD., TUCSON
Dominic Escamilla Financial Services, LLC, leased approximately 1,577-square-feet of office space located at 4400 E. Broadway Boulevard, Tucson, Arizona, from 4400 Broadway, LLC. Michael Gross of Tucson Realty & Trust Co. represented the Landlord and Bob Herd of Excelsior Real Estate, represented the Tenant in the transaction.

RETAIL – 1011 N. TYNDALL, TUCSON
Core Campus Tucson I LLC leased 1,570-square-feet on the ground floor of The Hub, a 592-bed student housing tower at 1011 North Tyndall. The tenant was represented by John Ash of CBRE. Debbie Heslop, CCIM, of Volk Company represented Core Campus Tucson I LLC.

RETAIL – 1608 S. CRAYCROFT RD., TUCSON
1602-1608 South Craycroft LLC leased 1,513-square-foot building at 1608 South Craycroft Road to Karina Terrazas and Mirna Alcaraz, to open a piñata store to serve the surrounding area. The building was formerly a child care center, and it is adjacent to a 2,550-square-foot, freestanding, former Circle K building that is currently available for lease. Kevin Volk of Volk Company represented 1602-1608 South Craycroft

INDUSTRIAL – 1101 W. GRANT ED., TUCSON
Miner Southwest, LLC renewed their lease for 1,500-square-feet at 1101 W. Grant Rd., Suite 201 in Tucson, from the Sloat Family Partnership, LLLP.  Miner® is North America’s facility expert in equipment installation, repairs and asset management solutions to reduce customer costs and improve uptime, creating a safer and more sustainable environment. Cushman & Wakefield | PICOR handled this transaction.  Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, represented the landlord.  Jeff Zellet represented the tenant.

RETAIL – 1335 W.LAMBERT LANE, ORO VALLEY
I Touch Day Spa leased 1,459-square-feet of retail space at Shops at Oro Vista; Jayme Fabe, with NAI Horizon represented the landlord and James Robertson with Realty Executives International represented the tenant in this transaction.

OFFICE – 2380 N. FERGUSON AVE., TUCSON
Charles Krone, M.D., P.C. renewed their lease for 1,316-square-feet of medical office space at 2380 N. Ferguson Ave., Suite 102 in Tucson, from TMC Holdings, Inc.  Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, handled this transaction.

INDUSTRIAL – 1870 W. PRINCE RD., TUCSON
Integrated Audio Video Solutions, LLC leased 1,200-square-feet in Exchange Place Business Center, 1870 W. Prince Rd., Suite 64 in Tucson, from Presson Corporation.  Rob Glaser, SIOR, CCIM and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

OFFICE – 3959 E SPEEDWAY BLVD., TUCSON
Wound Care USA, LLC leased 844-square-feet of office/warehouse space in Central Point Business Plaza, 3959 E. Speedway Blvd., Suite 316 in Tucson, from Central Point Tucson, LLC.  Jeff Zellet, Commercial Specialist with Cushman & Wakefield | PICOR, handled this transaction.

RETAIL – 621 N GRAND AVE., NOGALES
Prestige of Nogales leased 500-square-feet of retail space at 621 N. Grand Ave., Suite A in Nogales, Arizona, from Angel T. Mendoza.  Denisse Angulo-Badilla, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 4560 E. BROADWAY BLVD., TUCSON
Environmental Risk Services, Inc. leased 179-square-feet of office space in Midstar Plaza, 4560 E. Broadway Blvd., Suite 224 in Tucson, from Midstar Partners, LLC. Isaac Figueroa, Office Specialist with Cushman & Wakefield | PICOR, handled this transaction.

RETAIL – 8987 E. TANQUE VERDE RD., TUCSON
Fitness Training LLC assumed and extended the Crossfit Fixx lease at 8987 East Tanque Verde Road, Suite 353. The Landlord, Bear Canyon Associates, LLC, was represented by Melissa Lal, CCIM, of Larsen Baker. Jeramy Price of Volk Company represented Framework Fitness Training LLC




Tucson Lease Report January 3-6, 2017

Tucson Lease report 3-13-16The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from January 3 thru 6, 2017.

OFFICE – 6400 E. GRANT RD., TUCSON
BroadPath, Inc. leased a total of 15,259-square-feet of office space, located at 6400 E. Grant Rd. in Tucson, from La Mirada, LLC.  BroadPath renewed their original lease for 9,703 square feet and also expanded an additional 5,556-square-feet.  Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord and Mark Irvin, SIOR, with Mark Irvin Commercial Real Estate Services, represented the tenant in this transaction.

RETAIL – 1045 N. KOLB RD., TUCSON
Steven Tilden and Dung Thi Tilden and Serene Nail Spa & Reflexology, L.L.C. leased 1,380-square-feet at 1045 North Kolb Road, Tucson. The space is located at the southwest corner of Speedway and Kolb within Sunburst Plaza, which includes tenants such as Pizza Hut, Cricket, and H&R Block. Dave Hammack of Volk Company represented the landlord, Sunburst Plaza, L.L.C.

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Tucson Medical Office Investment Sells for $1.84 Million

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4582 N 1st Ave., Tucson, AZ

TUCSON, Arizona — Kenneth Swanson, Inc., a family trust, purchased a 7,152-square-foot Medical Office Investment Property at 4582 N. 1st Avenue, from Southern Arizona Land Ventures, LLC in a sale leaseback transaction for $1.838 million ($256 PSF).

The property will continue to be occupied by The Pain Institute of Southern Arizona (PISA) that has been at this property since 2004, where it expanded from one to four condominiums occupied in the Rillito Business Park.

PISA is dedicated to the evaluation, diagnosis, and treatment of pain. Finding the cause and effectively treating pain is its primary goal. Physicians work with patient and primary care doctor to design a treatment plan to decrease pain and increase the patient’s level of function.

Its other office is at 4881 E. Grant Road in Tucson, at Grant and Swan.

Andrew D. Sternberg and Robert J. Nolan of Oxford Realty Advisors in Tucson represented the buyer and Mark Irvin, CCIM, SIOR, of Mark Irvin Commercial Real Estate Services of Tucson represented the seller in the transaction.

For more information, Sternberg and Nolan can be reached at 520.232.0200 and Irvin should be contacted at 520.620.1833.

To learn more, see RED Comp #4319.




Tucson Regional Growth Summit to be Held Next Week

tucson-fall-summit-smallOver 275 residential agents, commercial agents, builders, developers and attorneys are expected to attend next week’s Summit on Regional Growth, Jobs & new Development in Southern Arizona. The event is sponsored by Title Security Agency and Agent’s Edge School of Real Estate.
CEU credits are available for attendees.
An exciting list of presenters and panelists will include:
Bruce Jacobs, VP, COO, Title Security Agency
Judy Lowe, Arizona Real Estate Commissioner
John Moffatt, Moffatt Consulting, on the Sun Corridor
Chuck Huckelberry, Pima County Administrator, on the Sonoran Corridor
Mark Irvin, Mark Irvin Commercial Real Estate Services, on Rio Nuevo Projects
David Godlewski, President, SAHBA, on New Home Construction
Scott Stiteler, Developer, on AC Marriott Hotel Downtown
Scott Rathbun, Aerie Development, on Residential Tower Downtown
It all takes place Wednesday, October 12, 2016 from 8:00 am to noon at The Tucson Convention Center, 260 S Church Avenue in Tucson.
ADRE CE Credits: 3 Hours Real Estate Legal Issues
AZDFI CE Credits: 3 Hours Appraisal Credit
REGISTER ONLINE: http://tinyurl.com/AESummit
Cost: $25.00

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Mark Irvin Ranked in SIOR’s Top 100 Office Transactions of 2015

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Mark Irvin, SIOR, CCIM

Mark Irvin Honored for MDA Building Deal in Tucson

Mark Irvin, SIOR, CCIM, with Mark Irvin Commercial Real Estate Services in Tucson was ranked on the Society of Industrial and Office Realtors’ (SIOR) Top 100 Office Transactions List of 2015 for his 82,942-square-foot deal, securing the 77th spot out of 100.

The lease of former MDA building located at 3300 E Sunrise Drive in Tucson, closed November 2015.

In one of the largest 2015 Tucson office leases, the former MDA building was leased to  Sunquest Information Systems to relocate their headquarters from Williams Center, having leased fully the 82,942-square-feet combined in both buildings. The Company anticipates a move-in date of fall 2016.

Sunquest Information Systems Inc. provides diagnostic and laboratory information systems to more than 1,700 laboratories. For the past 30 years, Sunquest has delivered solutions that optimize financial results, enhance efficiency and improve the quality of patient care. The company’s pathology-focused mission, outreach awareness and point of care solutions establish Sunquest as a leader in the healthcare technology industry. Headquartered in Tucson, AZ, Sunquest also has offices in the United Kingdom and India.

The 3300 E. Sunrise office building is considered by many to be an architectural treasure. It was selected by Sunquest for its iconic design, open floor plan, and dramatic views of Tucson’s high desert landscape through floor-to-ceiling windows. The building’s aesthetics foster employee collaboration and innovation, as well as become an inviting environment to host Sunquest’s international clientele.

Mark Irvin, SIOR, CCIM, along with Eric Ramer with Icon Commercial Interests represented the tenant. Andy Seleznov and Melissa Lal with Larsen Baker represented itself as the landlord.

The Top 100 transaction honoree list was announced during SIOR’s 2016 Spring World Conference in San Diego, which took place on April 13-16 and was ranked among nearly 580 SIOR members who reported more than 930 transactions, totaling more than $5.1 billion in leases and sales.