TUCSON, Arizona — The following commercial real estate transactions totaling $7.96 million created a lot of conversation at the April meeting of the Southern Arizona CCIM Chapter, in case you missed it,  we’re publishing them here as part of our CCIM Conversation Corner.

Schotzsky’s Restaurant at 3270 E Valencia sold March 16^th for $775,000 ($229 PSF) in an all cash deal. The 3,383-square-foot building on .88 acre was included in the sale price. The buyer also purchased the franchise, furniture and fixtures in a separate transaction to continue operations as a Schlotzsky’s.  John Hamner, CCIM, with Keller Williams represented the seller. Hamner has since moved over to Re/Max Excalibur in Tucson. Teale Bloom with Phoenix Commercial Retail Advisors represented the buyer, DWG Properties LLC (Gene Denison, manager). Bobbi Rayon at Title Security handled the escrow. To learn more, see RED Comp #5649.

Time Market owner, Peter Wilke, bought the 6,639-square-foot former Scordata’s at 4405 W Speedway Blvd in Tucson for $430,000 ($65 PSF). Tari Auletta, CCIM, of Keller Williams represented the seller and Kristy Kelley with Long Realty represented the buyer. Buyer plans to convert the 6,639-square-foot building on almost 2 acres to a Time Market. To learn more, see RED Comp #5655.

Derrick Sinclair, CCIM, with Terramar Properties sold 13 semi-custom SFR lots sold at Yolanda Oasis Estate in Catalina, at Golder Ranch and Twin Lakes Road for $700,000 or $53,846 per lot. Average lot size is 30,000-square-feet. Sinclair handled the transaction for the buyer, AF Sterling, and seller. Title Security handled the escrow. To learn more, see RED Comp #5617.

Gary Andros, CCIM, of Andros Properties sold the office building at 615 W Roller Coaster Road in Tucson for $670,000 ($140 PSF). Doug Marsh and Lori Casey with Oxford Realty Advisors represented the seller, Farmers Insurance Exchange and Andros represented the buyer. The 4,769-square-foot office building was built in 1981 on .81 acres. The financing was handled by the National Bank of Arizona, Justin Martinez. To learn more, see RED Comp #5651.

F&J Ruis Holdings, LLC purchased vacant land at 507 – 547 W. Lester, Tucson, AZ from Starnoff Investments, LLC for $249,000 ($4.89 PSF).  David Blanchette, CCIM, with NAI Horizon represented the owners and Ron Zimmerman with Cushman Wakefield/PICOR represented the buyer in this transaction. To learn more, see RED Comp #5724.

The White Ohana, LLC purchased a 32,391-square-foot building on 4.26-acres at 3951 E. Columbia St. in Tucson for $3.65 million ($113 PSF).  Rob Glaser, CCIM, SIOR, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller and Ted Liles with Cresa Global, Inc., represented the buyer, Firsterra Corporation of Costa Mesa, CA. To learn more, see RED Comp #5669.

Hawkins Investment Solutions, LLC purchased a 20,000-square-foot industrial building at 3260 E. 36^th St. in Tucson, from Glazer’s Real Estate, LLC for $900,000 ($45 PSF).  Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the buyer; Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented the seller. To learn more, see RED Comp #5695.

The Connie Rae Simonds Trust purchased a 5,272-square-foot multitenant office building located at 3808-3818 E. 5^th St. in Tucson, from Wildcat Equities II, LLC for $582,503 ($110 PSF) as investment.  Built in 1966, the masonry building sits on a .40-acre lot. Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the seller; Jim Briggs with Cornerstone Realty & Investments, LLC, represented the buyer. To learn more, see RED Comp #5699.

For more information on SOAZ CCIM Chapter and its upcoming monthly luncheon on May 8^th click here.

The CCIM Commercial Real Estate Forecast Competition is back Feb. 21st, 2017 and it’s not too early to register!

TUCSON, Arizona — Tucson’s commercial real estate professionals have a renewed sense of optimism in the local real estate market for 2017 and the 26^th Annual Southern Arizona CCIM Commercial Real Estate Forecast Competition on February 21, 2017 promises to be a celebration!

The list of prestigious corporate expansions in Southern Arizona is headed by the recent Caterpillar announcement that it will relocate its Surface Mining and Technology (SM&T) Division to Tucson. Caterpillar Director, John R. Oliver, will be this year’s keynote speaker at the event and describe the Company’s decision-making to move here.

John R. Oliver, Director of Customer Services and Global Accounts at Surface Mining & Technology, leads the team of subject-matter experts deployed as needed around the world to address customer needs, both for commercial and site support. This team plays a critical role in assisting dealers and product groups on strategic deal management, total cost of ownership reviews and performing site-needs consultation.  Using extensive data analytics, as well as continuous improvement tools and technology, this division creates customer solutions by driving site performance metrics and total cost of ownership gains. Global Accounts for surface and underground mining customers and the commercial framework for regional accounts will be managed through this Tucson-based organization to ensure consistency and focus for Caterpillar’s largest customers around the world.

The 2017 CCIM Market Forecast will also present thoughts, insights and analyses from active commercial real estate brokers, lenders and appraisers specializing in the office, retail, multi-family, land, industrial and financing sectors. In one afternoon, commercial real estate professionals, industry leaders and analysts from all aspects of the market converge to offer a recap of the past year, as well as insider predictions for Tucson’s 2017 market.

What industry sector vacancy rates are at a historic ten year low? How does Tucson’s real estate market compare with the rest of the country? What notable transactions had the most effect on the market last year? What big deals are in the works for 2017? The CCIM Real Estate Forecast offers attendees answers to all these questions and a working knowledge of the current market conditions and insights into emerging opportunities for all market sectors.

The 26^th year for this commercial real estate event, it is renowned as one of the longest running commercial real estate market forecast competitions in the nation.

Everyone is invited to join the Southern Arizona CCIM Chapter event: Tuesday, February 21st, 2017 at Marriott Tucson University Park, 880 E 2nd Street Tucson AZ 85719

Registration & Networking: Starts at 11:15 am
Program: 12:00 to 4:30 pm
Networking Reception: 4:30 to 5:30 pm
Lunch will be Served with cash bar reception to follow – FREE parking!

For Early Bird discount, register before January 1^st https://tucsonportal.ramcoams.net/Meetings/Registration/MeetingDetails.aspx?mid=345f3138-469f-476e-89d7-40bf67e1e407

or here for a printable registration form: Click here for FORECAST Registration Form

For additional information, please email Aaron Reid at sazccim@tucsonrealtors.org

The Southern Arizona CCIM Chapter will be giving its market predictions for 2016 on Tuesday, February 9^th at the 25^th Annual CCIM Market Forecast Competition, the longest running competition in the nation.  There local commercial real estate brokers, lenders and appraisers specializing in the office, retail, multifamily, land, industrial and financing sectors will offer their thoughts, insights and opinions for the new year.

Continuing a long local CCIM tradition, a new Tucson Commercial Real Estate Legend will be honored. Jim Marian of Chapman Lindsey and George Larsen of Larsen Baker founded the tradition to give special recognition to those pioneers, visionaries, contributors, gamblers and risk takers who have helped shape our local market. This year’s inductees into Tucson Legends will be Robert Sarver and family.

This year’s keynote speaker will be Arizona Real Estate Commissioner, Judy Lowe and Robert Sarver, majority owner of the National Basketball Association franchise Phoenix Suns. In 1984, Sarver founded the National Bank of Tucson (which he expanded statewide and changed the name to the National Bank of Arizona). In 1990, he co-founded the real estate company Southwest Value Partners with Millard Seldin. In 1994, he sold the National Bank of Arizona, then the largest independent bank in the state, to Zions Bancorporation. In 1995, Southwest Value Partners purchased the Emerald Plaza in San Diego. In 1995, he acquired Grossmont Bank, one of San Diego’s largest community banks. Grossmont was also sold to Zions Bancorporation in 1997. In 2004, his jointly owned real estate firm, Southwest Value Partners, sold the Emerald Plaza and two other San Diego office buildings to Santa Ana real estate firm, Triple Net Properties, for $274.5 million. In 1998, he led Zions Bancorporation’s acquisition of Sumitomo Bank of California. In 2003, he became chairman, president, and CEO of Western Alliance Bancorporation.

If you are wondering where year-end vacancy rates will be? Where Tucson’s market is heading? What sectors will see the most growth? In one afternoon, attendees will walk away with a working knowledge of the current market conditions and insight into emerging opportunities. Now more than ever, you need to check in with what the experts are seeing in the market and expect to see as the year unfolds and attend the 25^th Annual CCIM Market Forecast Competition to hear and meet the experts.

The 2016 panel experts will be:

Retail
Nancy McClure, Gary Heinfeld, CCIM; Scott Soelter NAI Horizon and APPRAISER Carl Boode, Axiom Appraisals

Office
Rick Kleiner, Cushman & Wakefield Picor; Aubrey Finkelstein, Vast; Jeff Casper, CBRE; APPRAISER: Mike Naifeh

Land
Jim Marion, Chapman Lindsey; Rick Sack, SRES Long Realty; Aaron Mendenhall Chapman Lindsey

Multifamily
Chuck Corriere, Keller Williams; Mike Chapman NAI Horizons; and Lance Parsons, ABI Multifamily

Industrial
Russ Hall Cushman & Wakefield PICOR; Jesse Blum, CBRE; Terry Lavery, Tucson Realty & Tucson; APPRAISER: Craig Johnson

Finance
Lars Larson, Bank of the West; Mike Trueba, Commerce Bank; Gary Molenda, BDFC

Register now for the CCIM Market Forecast Competition
(seating is limited-only 40 seats left!)

Tuesday, February 9^th, 2015
at the Marriott Tucson University Park
880 E 2^nd Street Tucson AZ 85719
Click Here for online registration

FREE Improved Parking, Coffee Break and Snacks, Cocktails and Reception Appetizers.
And approved for 3 hours of ADRE Continuing Education Credit – Legal Issues!

For more information, please contact Aaron Reid at sazccim@tucsonrealtors.org

Or contact a member of the CCIM 2016 Board of Directors:
Greg Boccardo, President
520-955-0777 greg@gregboccardo.com
Melissa Lal, President Elect
520-296-0200 melissa@larsenbaker.com
Jane Holder, Treasurer
520-820-0171 janeyholderaz@gmail.com
Brandon Rodgers, Past President
520-546-2714 brodgers@picor.com