Tucson Broker handles Phoenix Medical Office Sale for $2.225 Million
3303 W Bell Rd, Phoenix, AZ
PHOENIX, ARIZONA — MBC Revocable Trust of California traded into the purchase of a 12,474-square-foot medical office building at 3033 West Bell Road, Phoenix, AZ, from 3033 West Bell, LLC, the seller. The transaction was the buyer’s upleg in a 1031 exchange. The property commanded a sale price of $2.225 million ($178 PSF).
A one-story medical office located at the northwest corner of 31st Avenue and Bell Road in the Black Canyon Corridor of Phoenix, AZ. The property was constructed in 1987 and configured for multi-tenant use. Arizona Sports and Spine Physicians, Arizona Arthritis and Rheumatology and Fifth Avenue Gynecologists occupied the full building at time of sale. All long-term tenants, two of which have been there for 20+ years.
An investment sale, the property leases with full-service terms and sold above a 7% cap rate.
Robert J. Nolan of Oxford Realty Advisors in Tucson represented the buyer told us the building was in good condition, was well maintained and sold without deferred maintenance.
Mike Coover of Cushman & Wakefield Phoenix represented the seller in the transaction.
For more information, Nolan can be reached at 520.232.0200 and Coover can be contacted at 602.224.4473.
Tucson Lease Report May 14-19, 2018
Tucson Lease Report May 14-19, 2018
The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from May 14-19, 2018.
OFFICE – 2102 N. FORBES BLVD., TUCSON
Mettler–Toledo Thorton, Inc. renewed their lease for 8,050-square-feet at 2102 N. Forbes Blvd., Suites 103-107 in Tucson, from East Park VI Holding Company, LLC. Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord; Jesse Blum with CBRE, represented the tenant in this transaction. [mepr-show rules=”58038″]Tenant Phone : 520.792.0780[/mepr-show]
RETAIL – 1951 W. GRANT RD., TUCSON
Ironwood Gastroenterology, PLLC and Rehan Iftikhar, PLLC expanded their leasehold for an additional 3,883-square-feet at 1951 W. Grant Rd., Suites 150 and 160 in Tucson, from Wright and Case Holdings, LLC. This expansion brings the total square feet for the gastroenterology practice to 10,657 square feet. Rob Tomlinson, Retail Specialist, and Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the landlord; Esther Empens with Tierra Antigua Realty, LLC, represented the tenant. [mepr-show rules=”58038″]Tenant Phone: 520.624.4342[/mepr-show]
RETAIL – MISSION RD. and AJO WAY, TUCSON
Jack in the Box will construct and lease a 2,600-square-foot restaurant located at Mission Rd. and Ajo Way in Park View Plaza,. Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented Jack in the Box in this transaction; Richard Volk represented the landlord.
OFFICE – 5151 E. BROADWAY BLVD., TUCSON
Acorn Associates Architecture, Ltd. renewed their lease for 1,837-square-feet of office space at 5151 E. Broadway Blvd., Suite 1050 in Tucson, from Kent Circle Partners. Tom Nieman and Rick Kleiner, MBA, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Tenant Phone: 881.0731[/mepr-show]
INDUSTRIAL – 2341 S. FRIEBUS AVE., TUCSON
The Facilities Company, LLC leased 1,725-square-feet at 2341 S. Friebus Ave., Suite 13 in Tucson, from Friebus Investors, LLC. Rob Glaser, SIOR, CCIM, and Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.290.9313[/mepr-show]
RETAIL – 5526 E. GRANT RD., TUCSON
La Botana Grill has signed a lease for 1,693-square-feet at 5526 E. Grant Road, Tucson, AZ in the Ross anchored retail center at the southeast corner of Grant and Craycroft Roads. La Botana Grill plans to relocate their existing Mexican restaurant at 3200 N. 1st Ave. The new restaurant is estimated to open July 1, 2018. Craig Finfrock of Commercial Retail Advisors, LLC represented the Tenant, La Botana Grill, and the Landlord, Maqsood and Sabrina Enterprises, LLC, was represented by Robert Nolan of Oxford Realty. [mepr-show rules=”58038″]Tenant Phone: 520.777.8801[/mepr-show]
RETAIL – SE CORNER of ORANGE GROVE and RIVER RD., TUCSON
Jimmy’s Pita & Poke has leased a 1,300-square-feet space at Marana Marketplace, located at the SE corner of Orange Grove Rd. and River Rd. The Premises will be used as a pita and poke restaurant and for the sale of related products. They are scheduled to open for business September 2018. Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while Frank Arrota, of Tucson Realty and Trust, represented the Tenant. [mepr-show rules=”58038″]Tenant Phone: 520.882.7482[/mepr-show]
RETAIL – NEC of BROADWAY BLVD and HARRISON RD., TUCSON
H&R Block Enterprises, LLC renewed their lease for 1,200-square-feet in the Broadway Albertson’s Center, located at the NEC of Broadway Blvd. and Harrison Rd. in Tucson, from Grabbert Ranch, Inc. Rob Tomlinson and Greg Furrier, Retail Specialists with Cushman & Wakefield | PICOR, handled this transaction.
RETAIL – 3553 S. 12th AVE., TUCSON
Jose Corral and Concepcion Leon leased 1,200-square-feet in Plaza Azteca, 3553 S. 12th Ave., Suite 173 in Tucson, from NAI Investments, LLC. Denisse Angulo-Badilla and Rob Tomlinson with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking lease rate: $12.00 SF/YR Modified Gross[/mepr-show]
RETAIL – 4444 E. GRANT RD., TUCSON
3 Wishes Tattoo and Supply Company, LLC leased 1,200-square-feet in Grant Square, 4444 E. Grant Rd., Suite 121 in Tucson, from Kolvoord Family Limited Partnership. Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord; Hilda Ramirez with HomeSmart, represented the tenant. [mepr-show rules=”58038″]Asking lease rate: $10.00 – $17.00 SF/YR NNN; Tenant Phone: 520.347.7956[/mepr-show]
RETAIL – 6330 N. CAMPBELL AVE., TUCSON
The Ballet of Conservatory Dance Music and Art, LLC expanded their leasehold for an additional 1,189-square-feet at 6330 N. Campbell Ave., Suite 110 in Tucson, from HRA Paloma Village, LP. This expansion brings the total square feet for the studio to 5,247 square feet. Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.770.7827[/mepr-show]
OFFICE – 5403 E. PIMA ST., TUCSON
Allan Goddard – Farmers Insurance, leased 1,129-square-feet at 5403 E. Pima St. in Tucson, from DBR Investment Properties, LLC. Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord; Bruce Suppes with CBRE, represented the tenant.
RETAIL – 4444 E. GRANT RD., TUCSON
Ai-Yun and Mei-Ying Fang leased 1,080-square-feet in Grant Square, 4444 E. Grant Rd., Suite 104 in Tucson, from Kolvoord Family Limited Partnership. Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord; Daniel Yan and Chris Tsighis with Coldwell Banker, represented the tenant.[mepr-show rules=”58038″] Asking lease rate: $10.00 – $17.00 SF/YR NNN[/mepr-show]
RETAIL – SWC of SPEEDWAY BLVD. and WILMOT RD., TUCSON
True Collectors, a vintage toy store, leased 950-square-feet in Monterey Village Shopping Center, located at the SWC of Speedway Blvd. and Wilmot Rd. in Tucson, from Monterey Village, LLC. Greg Furrier, Retail Specialist with Cushman & Wakefield | PICOR, handled this transaction.
RETAIL – 3955 E. SPEEDWAY BLVD., TUCSON
Presidio Hair and Nails leased 900-square-feet in Central Point Business Plaza, 3955 E. Speedway, Suite 107 in Tucson, from Central Point Tucson, LLC. Rob Tomlinson and Greg Furrier, Retail Specialists with Cushman & Wakefield | PICOR, handled this transaction.
OFFICE – 4560 E. BROADWAY BLVD., TUCSON
Hairdoer Studio, LLC leased 425-square-feet of office space in Midstar Plaza, 4560 E. Broadway Blvd., Suites 229-230 in Tucson, from Midstar Partners, LLC. Isaac Figueroa, Office and Investment Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.
OFFICE – 1200 N EL DORADO PL, TUCSON
Monier Insurance leased 275-square-feet of office space in El Dorado Square, 1200 N. El Dorado Pl., Suite D-430 in Tucson, from El Dorado Ventures, LLC. Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord; Mark Monier, Monier Realty & Insurance, represented the tenant in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.721.6711[/mepr-show]
RETAIL – SE CORNER of BROADWAY BLVD. and KOLB RD., TUCSON
Big D Flooring has renewed their lease for an additional 5-years at Circle Plaza Shopping Center, located on the SE corner of Broadway Blvd. and Kolb Rd. Andy Seleznov and Melissa Lal of Larsen Baker represented the Landlord. [mepr-show rules=”58038″]Tenant Phone: 520.624.2225[/mepr-show]
RETAIL – SE CORNER of SPEEDWAY BLVD and PANTANO RD., TUCSON
SW Motor Vehicle has renewed their lease for an additional 5-years at Speedway Pantano Square, located on the SE corner of Speedway Blvd. and Pantano Rd. Andy Seleznov and Melissa Lal of Larsen Baker represented the Landlord. [mepr-show rules=”58038″]Tenant Phone: 520.722.2006[/mepr-show]
RETAIL – SE CORNER of BROADWAY BLVD. and KOLB RD., TUCSON
Big D Flooring has renewed their lease for an additional 5-years at Circle Plaza Shopping Center, located on the SE corner of Broadway Blvd. and Kolb Rd. Andy Seleznov and Melissa Lal of Larsen Baker represented the Landlord. [mepr-show rules=”58038″]Tenant Phone: 520.624.2225[/mepr-show]
RETAIL – SE CORNER of SPEEDWAY BLVD and PANTANO RD., TUCSON
SW Motor Vehicle has renewed their lease for an additional 5-years at Speedway Pantano Square, located on the SE corner of Speedway Blvd. and Pantano Rd. Andy Seleznov and Melissa Lal of Larsen Baker represented the Landlord. [mepr-show rules=”58038″]Tenant Phone: 520.722.2006[/mepr-show]
The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from Dec. 11 thru Dec. 15, 2017.
RETAIL – 4721 E. BROADWAY BLVD., TUCSON 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]
RETAIL – 1820 E. IRVINGTON RD., TUCSON 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]
RETAIL – 4811 E. GRANT RD., TUCSON 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.
RETAIL – 475 W. WETMORE, TUCSON 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]
OFFICE – 10195 N. ORACLE RD., TUCSON 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]
RETAIL – 5811 – 5813 E. BROADWAY BVD., TUCSON 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]
RETAIL – 5430 E. SPEEDWAY BLVD, TUCSON 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]
RETAIL – 11015 N. ORACLE RD., TUCSON 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]
RETAIL – 6544 E. TANQUE VERDE RD., TUCSON 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.
RETAIL – 345 E. CONGRESS ST., TUCSON 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.
