Southern Arizona CCIM Chapter Conversation Corner for April

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 16th 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. 36th 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. 5th 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 8th click here.

 




Tucson Lease Report December 18 – 29, 2017

Tucson Lease report 3-13-16
Tucson Lease Report Dec. 18 – 29, 2017

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from Dec. 18 thru Dec. 29, 2017.

OFFICE – 2625 N. CRAYCROFT RD., TUCSON
AOR Management Company of Arizona, LLC leased 25,271-square-feet of office space at 2625 N. Craycroft Rd. in Tucson from TMC Holdings, Inc.  Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.  David Volk and Bruce Suppes with CBRE represented the tenant.

INDUSTRIAL – 4175 S. FREMONT AVE., TUCSON
Savant of the West, LLC, dba 1-800-Radiator, leased 6,230-square-feet at 4175 S. Fremont Ave., Suite 106 in Tucson from Doubletree Investments, Inc. 1-800-Radiator & A/C was founded in 1982 (previously called Radiator Express Warehouse) to take advantage of the growing trend in the automotive aftermarket of radiator replacement versus repair.  Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord. Ted Liles and Pete Wilson with Cresa Phoenix represented the tenant.

OFFICE – 1 S. CHURCH ST., TUCSON
Caliber Home Loans, Inc. leased 5,501-square-feet of office space at 1 South Church Avenue. Bruce Suppes, David Volk of CBRE Tucson and Chase Neyland of CBRE Dallas represented the tenant. Jeff Casper of CBRE Tucson represented the landlord, 1SC Partners LLC, in the transaction. [mepr-show rules=”58038″]Asking lease rate: $27.50 SF/YR Modified Gross; Tenant Phone: 520.887.4400[/mepr-show]

OFFICE – 732 N. STONE AVE., TUCSON
BTAZ, LLC leased 4,800-square-feet of office space at 732 N. Stone Avenue. Jeff Casper of CBRE represented the tenant. Buzz Isaacson of CBRE represented the landlord, Cope Properties, in the transaction.

INDUSTRIAL – 1548 S. EUCLID AVE., TUCSON
LaFleur French Market, LLC leased 4,000-square-feet at 1548 S. Euclid Ave., Suite A in Tucson from RRN, Inc.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking lease rate: $6.60 SF/YR Modified Gross; Tenant Phone: 520.548.1338[/mepr-show]

OFFICE – 1627 W. GRANT RD., TUCSON
Muscular Dystrophy Association, Inc. renewed their lease for 3,600-square-feet at 1627 W. Grant Rd. in Tucson from Rodgers Hoge Partners.  Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the landlord and Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.529.2000[/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]

INDUSTRIAL – 3820 S. PALO VERDE RD., TUCSON
Dynamic Pool Designs, LLC leased 2,706-square-feet in Palo Verde Industrial Center, 3820 S. Palo Verde Rd., Suite 109 in Tucson, from Palo Verde Trust Partners, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.888.7665[/mepr-show]

RETAIL – 3553 S. 12th AVE., TUCSON
Arizona Hispanic Services, LLC leased 1,200-square-feet in Plaza Azteca, 3553 S. 12th Ave., Suite 109 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: $9.00 SF/YR Modified Gross; Tenant Phone: 520.342.4279[/mepr-show]

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 PICOR | Cushman Wakefield represented the landlord, CH Retail Fund I / Tucson Plaza Centro, LLC., in the transaction.

RETAIL – 1200 N. EL DORADO PL., TUCSON
Old Pueblo Management Group, Inc. leased 430-square-feet in El Dorado Square, 1200 N. El Dorado Pl., Suite A-145 in Tucson, from El Dorado Ventures, LLC. Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 2914 E. 22nd ST., TUCSON
Simplicity Nutrition leased 330-square-feet at 2914 E. 22nd St., Suite 4 in Tucson from RRL, Inc.  Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Submit sales and lease to REDailyNews@Outlook.com




Architectural Aluminum Supplier Leases 52,845 SF at Parc 17 in Downtown Phoenix

Parc 17, 1800 S. 7th Ave., Phoenix, AZ

PHOENIX, AZ –  Illinois-based Petersen Aluminum Corp. signed a 52,845-square-foot lease at Parc 17, 1800 S. 7th Ave., Phoenix. The 5-plus year industrial lease begins in Q4 2017.

Petersen Aluminum Corp. is a metal roofi ng panel and metal wall panel supplier to the architectural metal industry.

Principals Stein Koss, Tom Louer and Associate Nick Nudo of The Koss | Louer Team at Lee & Associates, represented the landlord, Colony Northstar, Dallas, TX.  Ted Liles with Cresa represented Petersen.

Built in 2015, the multi-tenant property consists of a 101,310 SF, 31,871 SF and 44,589 SF distribution/warehouse buildings. It features I-17 Freeway frontage at the full diamond 7th Ave. exit, access to all major Valley freeways and one-day proximity to the top distribution centers in the Western United States. All buildings feature dock high and grade level loading capabilities, and offers excellent individual tenant identity with freeway signage opportunities.

The Koss | Louer team will retain its leasing assignment with the new ownership.

For more information, Koss can be reached at 602.912.3520, Louer is at 602.954.3779 and Nudo can be contacted at 602.954.3773.