La Estancia adds a 25.5 acre commercial block

SBH La Estancia, an affiliate of Sunbelt Holdings, a privately-held Scottsdale developer, acquired a 25.55 acre commercial block platted at La Estancia for $1.012 million. In August 2013, Sunbelt purchased the 480-acre La Estancia master planned community at the northwest corner of Kolb and I-10 for a complimentary mix of uses in this Southeast Tucson metro area.

Sunbelt paid $17.1 million for the 480-acre master-planned community, block platted for residential, commercial, light industrial, public facilities, recreational and open space. This 25.55 acres platted commercial completes the land acquisition from Tucson developer, R.B Price & Company (Richard Price, managing member).

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 an elementary school in the Vail School District. The community sold with 664 platted lots of varied sizes, ranging from 40’ x 110’ to 65’ x 110’.

Sunbelt has now completed the infrastructure along the two main roads and reports dry utilities are in place, and storm drains should be finished by the end of this month or early April. Homebuilders should be excited as they finish up in other areas, La Estancia will be a welcomed addition to pent up demand for lot inventory in the area.

Will White with Land Advisors Organization of Tucson handled the original transaction for buyer and seller, La Estancia 525, LLC (Richard Price, managing member). Land Advisors Organization will also be handling the marketing and disposition of lots to homebuilders. To learn more White can be reached at 520.514.7454.

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Marana Main Street making progress quickly

Boffo Properties, LLC purchased block 1 at Marana Main Street at the northeast corner of Sandario Road and Denny Street in Northwest Tucson for $305,000 ($7.04 PSF). The buyer is Dr. Michael Fair, DDS who plans to build a 4,000 – 5,000-square-foot dental office to owner occupy on the 43,323-square-foot pad.

Marana Main Street Project is a new 28-acre planned project in the Town of Marana just north of the Marana Town Hall and Municipal Complex that will be the gateway to Marana and a visible link from Interstate-10 to the Town of Marana, with access and exposure from the interstate and associated exit #236.

The new development includes an attractive combination of retail, dining, office, and lodging facilities. A 70 foot tall monument sign with a 12′ x 18′ double sided digital display will be a beacon to Marana Main Street and the Town of Marana and be available for use by participating project businesses.

The developer, Marana Main Street Development Corporation, a Tucson-based company (Chris Monson, manager) also has under construction an 8,000-10,000-square-foot multi-tenant retail building for lease and is under discussion with a hotel group that has shown interest in the site. McDonald’s was first to open at Marana Main Street last fall.

Ben Craney, Scott Soelter and Dave Loui of NAI Horizon in Tucson represented the seller and are handling leasing for the project. To learn more contact Craney at 520.603.4013, Soelter at 520.204.6969 and Loui at 520.603.4013.

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[mepr-show rules=”58038″] La Estancia – Sale date: 1/30/2015. We were unable to determine down payment, if any. APN: 141-36-695

Marana Main Street dental office lot – 1/30/2015. Buyer paid $183,000 down and financed the balance with new loan(s). APN:217-28-020G a split of 217-28-020C [/mepr-show]

A group of seasoned commercial real estate agents including Phil Skillings, Justin Lanne, Ben Craney and Scott Soelter have partnered to open the NAI Horizon office in Tucson with Thad Seligman, President/CEO and Terry Martin-Denning, COO/Designated Broker of the NAI Horizon Phoenix office.

I had the opportunity this week to meet with members of the NAI Horizon Tucson office located at Plaza Palomino, 2900 N. Swan Road, Suite 200.

According to Skillings, “Our NAI Horizon partnership offers us a unique opportunity to provide our clients with national exposure and resources while retaining local ownership and decision-making capabilities”.

As members of NAI Global the largest world-wide network of owner-operated, local market leading commercial real estate brokers, NAI Horizon understands the key to success is bringing a respected local-market presence to the commercial real estate business.

NAI Horizon has been anxious to open an office in Tucson and our partnership affords us that opportunity. “We had been discussing expansion into Tucson from Phoenix since 2005,” Seligman told us, “but the opportunity just wasn’t exactly right until recently. We look for the right ‘highly collaborative team’ for the right mix into our corporate culture.

Skillings, Craney, and Soelter formerly with Bourn Partners (Skillings was a founding member of Bourn Partners) collectively have 66 years of commercial development and brokerage experience. Soelter was a member of Newmark Grubb Knight Frank (NGKF) during its brief tenure in Tucson. Justin Lanne previously with NGKF brings 37 years of commercial real estate experience in Tucson, primarily in the multifamily sector.

Other team members include Mike Chapman, a 37 year veteran in the commercial real estate industry, formerly with CBRE, David Loui an Associate with the company and Jose Dabdoub a Senior Associate. Ben Craney is the Associate Broker for the Tucson office.

NAI has been privately owned for the past 23 years with 400 offices world-wide, in 54 countries, including Europe, Latin America and Asia, with more than 5,000 local market experts on the ground. Seligman also serves as chairman of the NAI Global Board. Each office has nationally recognized brokerage with local autonomy to stay nimble in their local markets.

The Tucson office will provide real estate services, consultation and property management to office, retail, multifamily, industrial, land and investment clients.

The Phoenix office presently employs 45 real estate agents and 30 individual support staff which includes property management of a 2.4-million-square-feet portfolio.

“Exceptional global commercial real estate solutions begin with local market leadership and expertise,” Seligman added. NAI Horizon provides a full range of Commercial Real Estate services, including Brokerage, Property Management, Appraisal Services and Capital Lending for local, national and international clients and will be offering the same here in Tucson.

NAI Horizon is proud to lead the Phoenix market, in 2012 being ranked #1 in Appraisal, #2 in Brokerage and #4 in Property Management among Arizona’s Commercial Real Estate companies by Ranking Arizona.

“In-depth local knowledge is a critical component to navigating the dynamic commercial real estate market. The statistical data gathered from these primary, secondary and tertiary markets and their submarkets and micro-markets, combined with the experience of our service professionals, provides clients with the insight and resources to make informed business decisions,” Seligman concluded.

To learn more the NAI Horizon office number is (520) 326.2200.

INDUSTRIAL – 924 N TWEEDY ROAD, ELOY, AZ (PINAL COUNTY)
ELRUS of Calgary, AB, Canada, a heavy-duty mining equipment manufacturer, leased a 71,708 sq. ft. single-tenant industrial building at 924 N Tweedy Road in Eloy, AZ from Sky Cast Properties, LLC of Concord, ON, Canada. The building includes an expansive production area with reinforced floors and cranes in place, along with offices, men’s and women’s locker areas, lab space and other mechanical and maintenance rooms. In addition, the property has a secure fenced area and additional land available for expansion.

This is ELRUS’ first manufacturing facility in theUnited Stateswhere it plans to fill approximately 100 positions primarily for highly skilled mechanics and welders.

Pat Feeney, Dan Calihan and Rusty Kennedy of CBRE in Phoenix represented the landlord in negotiating the five-year lease. Kevin Lange of Cushman & Wakefield in Phoenix represented the tenant.

“ELRUS not only found a building ideally suited for its unique manufacturing requirement, but its location – between Phoenix and Tucson – will allow the company to draw from a wider pool of applicants to quickly fill its employment needs,” said CBRE’s Feeney. “The area’s pro-business environment was also instrumental in ELRUS’s decision to locate in Eloy, and the company should be up and running by the third quarter of the year.”

INDUSTRIAL – 420 E COLUMBIA STREET, TUCSON
JV Metals of Tucson, a metal recycler, leased 14,278 sq. ft. at420 E Columbia St. in Tucson. Located at Fair Avenue and Columbia, the four building complex is on a 2 acre industrial lot. Brandon Rodgers and Pat Welchert of Cushman & Wakefield / Picor Commercial Real Estate represented the tenant and landlord, Plastic and Metal Parts, Inc. of Tucson, in the transaction.

INDUSTRIAL – 230 EAST 27TH STREET, SOUTH TUCSON
2,784 sq. ft. of warehouse space at 230 E 27th Street was leased by Brandon Schilling. Ron Zimmerman of Newmark Grubb Knight Frank in Tucson represented the landlord, Tin Cup Properties.

RETAIL – HISTORIC BATES MANSION – 283 N STONE AVE, TUCSON
Marketplace Holdings dba Artfire.com, leased the Historic Bates Mansion at 283 N Stone Ave. in Tucson. The Tucson based web marketplace ArtFire.com will be moving their software development and web marketing team to the former home of the exclusive Mountain Oyster Club to launch a new artisan focused maker space on the property, called “Maker House”.

Maker House will serve as a community hub and education space for artists, artisans and creative entrepreneurs. It will feature classes, events, music, theater and tech ‘hackathons’ in the 5,000 sq. ft. historic space and the 5,000 sq. ft. courtyard, hidden behind 9 foot high walls. Maker House will also feature a new artisan coffee bar, in-house experts and access to creative equipment ranging from 3D printers to vinyl cutters, paper embossers, and computer guided sewing machines that artists and makers may not have readily available in home studios.

Renovation of the space is already underway. Maker House is projected to soft launch over the summer with a Grand Opening in September. ArtFire.com will move into the new corporate offices at the mansion in May.

John A. Jacobs, CEO and Founder of ArtFire.com says, “We’re excited to join the many companies, large and small, who are investing in the future of downtown Tucson. Moving ArtFire.com into this wonderful historic space perfectly matches both the future of tech companies in Southern Arizona and our commitment to artisans and the creative entrepreneur.”

Scott Soelter of Newmark Grubb Knight Frank in Tucson represented the landlord, Prudent Preservation Partners.

RETAIL – 6211 E SPEEDWAY BLVD, TUCSON
Rebellion Tattoo leased the 7,298 sq. ft. building at6211 E Speedway Blvd. in Tucson from MaS Enterprise. Greg Furrier and Aaron LaPrise of Cushman & Wakefield / Picor Commercial Real Estate of Tucson represented the landlord. Fred Seger of Fred Seger & Associates of Tucson represented the tenant.

RETAIL – 1730 WEST AJO WAY, TUCSON
TnT Fashion is opening its third location at 1730 West Ajo Way in Park View Plaza, at Mission and Ajo Way, where it leased 4,800 sq. ft. from Park View Plaza, Inc. Rick Volk of Volk Company in Tucson handled the transaction.

OFFICE – 1640 E RIVER RD, STE 208, TUCSON
Movement Mortgage, a Virginia based company, leased 3,926 sq. ft. at Mesquite Corporate Center, 1640 E River Road, Suite 208, in Tucson. Movement Mortgage, formerly New American Mortgage, is a privately held mortgage bank established in 2008. It was named by Inc. Magazine as the fastest growing mortgage bank in the country for 2012.

Tom Nieman of Cushman & Wakefield / Picor Commercial Real Estate represented the landlord, George Caughman. Gary Best of Keller Williams Southern Arizona represented the tenant.

OFFICE – 4811 E GRANT RD, STE 261, TUCSON
Arizona Institute of Urology leased 2,983 sq. ft. office space at the Crossroads Festival, 4811 E Grant Rd, Ste 261, at the northeast corner of Swan and Grant Roads in Tucson. The landlord, Larsen Baker, was represented in-house by Andy Seleznov and Melissa Lal. James Robertson of Realty Executives Tucson Elite represented the tenant.

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