Thursday, August 22, 2019

2nd Quarter Sales

Tucson Dollar Stores continue to thrive, even with Hot Economy

TUCSON, ARIZONA – Dollar stores continue to thrive, even as Americans are enjoying a full-employment economy, suggesting shoppers have internalized bargain-shopping behaviors learned during the Great Recession. California-based Swerdlow Family Holdings, LLC purchased a 7,880- square-foot Family Dollar Store located at 5713 S. Park Ave. in Tucson.  The property was...

Marcus & Millichap Arranges the Sale of 5 Tucson Properties Totaling...

TUCSON, Ariz., – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of five apartment properties: Townhouse East (42-unit), Swan Crest (31-unit), Santa Fe Casitas (13-unit), Cielo Azul (12-unit), and Alta Vista (8-unit)...

Single Tenant Net-Leased Southwest Empire Tucson Property Sold in 24 Hours

TUCSON, ARIZONA – Single tenant net-leased investments, whether retail, office, or industrial properties have become one of the most in-demand type of property investments. Ron Zimmerman of Cushman & Wakefield | Picor tells us he had four offers on the following property within 24 hours of listing it. Santa Ana...

Lennar Homes is First Builder to Move Valencia Crossing Forward in...

TUCSON, Arizona – Lennar Homes closed on 162-platted lots at Valencia Crossing Lots 3 & 4, at the northeast corner of I-10 and Valencia Road for $1.82 million ($11,235 per lot). Valencia Crossing is a planned area development approved in June 2012 that encompasses areas of vacant land to...

Oakwood Terrace Apartments in Tucson Sells for $2.35 Million

TUCSON, Arizona – California investors, Ava Terrace Apartments, LLC, Marcus & Jodi Bannon, members) purchased Oakwood Terrace Apartments at 2740 & 2750 N. Balboa Avenue in Tucson for $2.35 million ($40,517 per unit) as a value-add investment. Built in 1963 on 2.48 acres, Oakwood Terrace Apartments is a 58-unit complex...

Two Owner User Units at Mesquite Corporate Center Change Hands

TUCSON, ARIZONA -- The River 5, LLC (Otto R Bohon, Jr., manager) purchased a 3,926-square-foot office condominium, Suite 208, located in Mesquite Corporate Centre, 1640 E. River Rd. in Tucson.  The class-A office condominium was purchased from the George and Jane Caughman Family Trust of California for $778,989 ($198...

Orange Grove I-10 Plaza One Lot from being “Sold Out” with...

MARANA, Arizona – Arizona Restoration Pros of Tucson (Paul Redman) purchased lot 9, a 24,059-square-foot lot, at Orange Grove I-10 Plaza for $140,745 ($5.85 PSF). The buyer plans to use the site for future construct of a building to be owner occupied by Arizona Restoration Pros, a company specialized in...

Scottsdale Investor Acquires End Cap at Harrison Plaza in Tucson

Tucson, Arizona – Majestyk Tucson, LLC (Michael Bennian, manager) of Scottsdale purchased the property located at 2530-2532 S. Harrison Road and 9425 E. Golf Links Road, Tucson, Arizona for $375,000 ($117 PSF).   The approximately 3,200-square-feet of retail space in Harrison Plaza was built in 1997 and is the end...

Favorable Multifamily Market Trends Continue in Tucson

Picor Handles $3.47 Million in Multifamily Sales Tucson TUCSON, Arizona -- Allan Mendelsberg with Cushman & Wakefield | Picor closed on an aggregate of 48-units for $3.465 million ($61,625 per unit) in Tucson recently in four transactions. California-based, Brad Land Investors, LLC and The Martin and Stacey Cohan Trust bought an...

Culver’s and Dutch Bros to Open at Shops on Valencia in...

TUCSON, Arizona – Kyle Kolsrud, a Culver’s franchisee, closed on a 41,387-square-foot lot at the Shops on Valencia for $1.3 million ($31.40 PSF). This will be the third Culver’s operated by Kolsrud in metro Tucson and to be located at Valencia and Headley in the Midvale Park area. The seller...

KFC Closes on Tucson Marketplace at the Bridges Site

TUCSON, Arizona – STRR Investments of Houston (Rehman Ahmed (manager) has closed on a 39,120-square-foot pad at Tucson Marketplace at the Bridges. For $675,000 ($17.25 PSF). The site in located north of the northeast corner of Kino Parkway and Tucson Market Place Blvd. KFC is joining Mister Car Wash, Discount...

Presson Corp. adds 29th Street Business Plaza to Porfolio for $3.075M

TUCSON, ARIZONA -- Phoenix-based, Presson Corporation (Daryl Burton, President) purchased the 29th Street Business Plaza, a 72,190-square-foot industrial zoned flex property located at 4901-5069 East 29th Street in Tucson for $3.075 million ($42.60 PSF). Built in 1976, the 60 warehouse / incubator style flex units were originally 1,200-square-feet each on...