The Shops at San Dorado sold to California-investor, Enos Ranchos LLC of Santa Ynez, CA (Samuel Rhea, member) for $11.28 million ($550. PSF) for this Class A property, location, tenants and construction quality.

Build in 2013 and expanded in 2015, San Dorado is at First and Oracle Road, the highest traffic intersection in Oro Valley, with major retailers such as Target, Home Depot, Fry’ s Grocery, Ross and PetSmart, in the primary core of residential, commercial and employment district for Oro Valley. Addresses of building sold was 10580, 10592 & 10604 N Oracle Road in Oro Valley.

The 20,558-square-feet of shop space on 2.3 acres was 100% leased and 94% occupied at time of sale by nationally recognized tenants: Chipotle, Verizon Wireless, Panera Bread, Mattress Firm, Jersey Mike’ s Subs and MOD Pizza and 72% of these leased by publicly traded tenants such as Verizon Wireless (NYSE: VZ), Chipotle (NYSE: CMG), Panera Bread (NASDAQ: PNRA) and Mattress Firm (NASDAQ: MFRM).

Greg Laing, Dan Gardiner, Teal Bloom and Tyler Chester with Phoenix Commercial Advisors represented the seller, KDC San Dorado Retail LLC, a Mark Taylor and Kitchell Corporation joint venture.

For additional information, Laing can be reached at 602.734.7207, Gardiner is at 602.734.7204, Bloom can be contacted at 602.288.3476 and Chester should be called at 602.288.3480.

To learn more, see RED Comp #4098.

The CVS Pharmacy at 10650 N Oracle Road in Oro Valley was sold in an investment sale to Phoenix-based American Realty Capital Properties, Inc. (ARCP) for $4.95 million ($367 PSF). The 13,485-square-foot building (built 2014) on 2.37 acres is located at the southeast corner of Oracle and First in the newly constructed San Dorado Center. The CVS opened in April, 2014.

ARCP is a leading, self-managed commercial real estate investment trust (“REIT”) focused on investing in single tenant freestanding commercial properties subject to net leases with high credit quality tenants. ARCP owns approximately 4,400 properties totaling 99.1 million square feet of leasable space. Additionally, ARCP sponsors non-traded REITs through its wholly owned private capital management business and direct investment wholesale broker dealer, Cole Capital^®. In total, ARCP manages nearly $30 billion of high-quality real estate located in 49 states, as well Washington D.C., Puerto Rico and Canada. ARCP is a publicly traded Maryland corporation listed on The NASDAQ Global Select Market (NASDAQ: ARCP).

The seller was German Dobson CVS, LLC of Woonsocket, Rhode Island who bought the PAD for $1.35 million in August 2013. Armstrong Development, the builder for CVS Pharmacy in Arizona handled the construction.

This is ARCP’s second CVS Pharmacy acquisition in Tucson, the other being at 6310 E Broadway in Tucson was purchased by ACRP in August for $5.45 million. See our Aug. 22, 2014 article ARCP Buys CVS Pharmacy at Broadway & Wilmot for $5.45 Million

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[mepr-show rules=”58038″]Sale date: 9/9/2014. Down payment: $588,492 with balance financed conventionally. There were no brokers involved in the transaction. Property was marketed at a 6% cap rate. APN: 220-09-1130[mepr-show rules=”58038″]

Here are the 10 most popular posts readers liked the best and shared the most in 2013.

The Real Estate Daily News had a great year in 2013, with over 650 posts, we reached more readers than ever imagined and hope to continue serving our readers in 2014 with timely and accurate real estate news from Arizona.

These are the columns that our readers, liked the most last year:

•  The Houghton Town Center was searched often this year on search engines. People were curious as to what was under construction at this 100,000 SF Walmart anchored center. June 4, 2013 – Discount Tire Joins Walmart at Houghton Town Center. Pushing ahead for a Q1 2014 opening.  A search for Houghton Town Center also brings up  Panda Express moving there, so we’ve combined these two stories – Panda Express to ‘Make Life Delicious’ at Houghton Town Center

• We got the price right on this one! Unlike some other publications who didn’t combine the two affidavits of value. El Rio Community Health Center, the largest provider of medical and dental services to uninsured and Medicaid patients in Pima County, purchased the historic Manning House downtown for El Rio’s administrative offices.  June 14, 2013 – Historic Manning House to become El Rio Community Health Center Offices for $3.05 mm
• Sometimes you don’t expect a story to go viral like this one did, but for some reason everyday around lunch and dinner time this column gets read. We wrote it for those who might still be intimidated by the thought of eating with their bare hands, and bring everything they would need to know in one brief lesson here. July 17, 2013 – Learn Ethiopian Cuisine – New Zemans Opens Friday!
• A new joint venture was inked between Mark Taylor, Inc. of Scottsdale and the Kitchell Development Company of Phoenix for a new destination retail and luxury apartment complex in Oro Valley. The project deemed “San Dorado” located at the southeast corner of First Ave and Oracle started to take shape this year. July 18, 2013 – Phoenix Builders JV on Luxury Apartments & Shopping in Oro Valley
• China’s Solar Leader, Hanergy completed the acquisition of Tucson’s Global Solar Energy, Inc., the world’s leader in copper indium gallium diselenide (also known as CIGS) solar technology. Aug 2, 2103 –Tucson’s Global Solar Energy Acquired by China’s Solar Leader
• Sunbelt Holdings, a privately-held Scottsdale developer involved in some of metro Phoenix’s largest master-planned communities, purchased 480-acres at the northwest corner of Kolb and I-10 for La Estancia, a new master-planned community with a complimentary mix of uses planned. When fully developed La Estancia will consist of 1,500 – 2,000 homes, 51 acres commercial use and 24 acres of light industrial space, plus parks and open spaces; there’s even 10-acres reserved for a ‘possible elementary school’. The community sold with 664 platted lots. Aug 22, 2013 – Scottsdale Developer Sunbelt Holdings Buys La Estancia for $ 17.1 M
• Confirmation that there was a need for this column came when numerous hits came from both Pima County and ADOT and downloading of their own maps. And yet it seems that Pima County and ADOT may not still be on the same road map. We do hope they are talking anyway. Sept 3, 2013 – Are Pima County & ADOT on the Same Road Map?
• The Port of Tucson has been slowly unveiling itself to the region since about 2004. First for Domestic Service and this year reaching International Service status as an International Inland Port Sept. 5, 2013 The Port of Tucson – Where Rail Meets the Road   Within weeks after this first story, the very first rail export was heading to Japan. Oct 1, 2013 – PORT OF TUCSON’S FIRST RAIL EXPORT HEADED TO JAPAN
• Maracay Homes finalized the acquisition of the last large remaining 122 acres at the Rancho Vistoso ‘Donut Hole’ for nearly $23 million in Oro Valley this year. Upon completion, Maracay’s investment is expected to be $41 million in the community with planned amenities. The “Donut Hole” property, is so named because of the way the golf course wraps around it, is on the 8 holes at the back hook of the course. Oct 3, 2013 – Maracay Homes Finalizes Rancho Vistoso Donut Hole Purchase – Estimates $41 Million Investment
• A race for retail was begun in the Northwest, when a group of former Westcor Development executives, Vintage Partners, LLC of Phoenix, purchased 161 acres at Interstate 10 near the Twin Peaks interchange and the newly routed Linda Vista Boulevard in the Town of Marana for $23.9 million,  the site where Kimco with Barclay Group had planned a 1.3 million SF ‘lifestyle’ center known as “Marana Spectrum”. Meanwhile, within a week, and two miles up the road, Pima County Supervisors approved a proposed “100-plus store outlet center”. The owner of the property, needed approval to sell the property to a private company, AWE Talisman, a Florida shopping center developer who has an interest in developing there. We’ll keep an eye on this one as things progress. Dec 20, 2013 – Multiple Retail Developers Eye Northwest Tucson – Kimco sells Marana Spectrum Site for $23.9Million

Have a great End-of-Year and an even better New Year. We’ve got lots of cool stuff ready for the new year, so do stay tuned!