Thursday, August 22, 2019

3rd Quarter Sales

Aspire 2 Student Housing Site Sets New Record Land Value, $470...

TUCSON, Arizona – After three years being under construction, Sterling University the developer of Aspire Student Housing, is back acquiring the adjoining Chase Bank site, 947 N Park Ave., at the southwest corner of Park and 1st Street, for second phase, or Aspire 2. The developer, an affiliate of...

Orange Grove Village Sold to a California Investor for $2.725 Million

TUCSON, Arizona – Orange Grove Village Shopping Center has been sold to a California based investor for $2.725 million ($142 PSF) according to public records. After 55 years of ownership, Tucson-based 4-D Properties sold the 19,154-square-foot retail strip center that was built in 1964 and 1972 on 2.74 acres...

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)...

Tucson Safeway Store Sells for $8.9 Million

TUCSON, ARIZONA -- Safeway Store #1255 in Tucson’s Casas Adobes’ neighborhood sold for $8.9 million ($191 PSF) to a New York investment firm as part of a 71-store, sale-leaseback agreement. The deal for the Safeway at 7110 N Oracle Road in Tucson. closed on July 1st. The buyer was CF...

Heslin Holdings, Inc. Acquires Tucson Retail Property

Commercial Real Estate Firm to Invest $75 Million in Next 12 Months TUCSON, Arizona – Heslin Holdings, Inc. of Laguna Hills, CA, a privately owned commercial real estate investment and development firm, with its newest acquisition, added 35,787-square-feet of retail building in Tucson to its protfolio. The acquisition is part of its...

Glen Una Buys Investment Property at Tucson International Gateway for $16.42...

TUCSON, Arizona -- A Privately Held Real Estate Investment and Management Group, Glen Una Management, purchased the fully occupied office buildings at 6221 & 6223 South Palo Verde Road in Tucson for $16.42 million ($136 PSF) in the Tucson International Gateway Center. The two buildings totaling 120,810-square-feet were built in...

Blackstone Invests $270 Million to Acquire Two Luxury Student Housing Projects...

TUCSON, Arizona -- New York-based, Blackstone Group LP paid $112 million ($536,780 per unit) for The District on 5th, a 208-unit student housing complex near University of Arizona in Tucson. The 5-story building, built in 2011, is located at 550 N 5th Avenue in Tucson with 764 student beds...

Tucson may see Latest Downtown Housing Project, RendezVous Urban Flats, as...

TUCSON, Arizona -- RendezVous Urban Flats, LLC (Roger Karber, manager) closed on an option to purchase the land and infrastructure at 20 S Stone Avenue in downtown Tucson from 1 SC Partners LLC for $2.65 million ($87 PSF). The project is ready to begin construction within weeks and may...

Continental Ranch Shopping Center sold for $3.4 Million

MARANA, ARIZONA -- Continental Ranch Shopping Center at 8235-8245 N Silverbell Rd., Marana, AZ on the corner of Wade Rd. and Silverbell Road in Marana sold to 2908 RT. 130, LLC for $3,386,733 ($157 PSF). The 21,600-square-foot Multi-tenant retail center received an offer within the first week of being...

Casa Marin and Eucalyptus Gardens Apartments in Tucson Sell for $5.7...

TUCSON, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Casa Marin, a 72-unit apartment community along with Eucalyptus Gardens, a 48-unit apartment community located in Tucson, AZ, according to...

Oracle Road Medical Office sold to Private Investors from Michigan

Oro Valley, Arizona – Pearl Peak, LLC of Whitefish, Michigan (Nicholas R. Chickering) closed on a triple net investment property at 7510 N Oracle Road, Ste 100, in Oro Valley, Arizona for $2.2 Million ($360 PSF). The 6,008-square-foot office condominium, built in 2009 of masonry construction, is located in...