Thursday, August 22, 2019

4th Quarter Sales

New Medical Office Under Construction at Ina Road Professional Center

TUCSON, Arizona – A new 6,300-square-foot building is going up at Ina Road Professional Center, originally platted and constructed the mid-1980’s.  This new building will be a built-to-suit for Dr. Susan S Courtney Family Medicine. A 6,737-square-foot fully improved padded lot at 1671 West Ina Road, in the Ina Road...

Government Leased Building Sells for $10 Million in Tucson

TUCSON, ARIZONA – Chicago-based, Boyd Watterson Asset Management affiliate, Boyd State Tucson, LLC (Kristen Frank, VP Asset Management) bought the building at 2255 West Ina Road in Tucson for $10 million ($216 PSF) in an all-cash transaction. The 3-story, 46,094-square-foot, high profile building was fully leased to government agencies at...

Lee & Associates Handle Two Investment Sales in Tucson for $4.2...

TUCSON, ARIZONA – In two separate investment transactions Lee & Associates handled properties valued at $4.2 million in Tucson's Southern Submarket. California-based, Corsair Management, LP (David Paul Oddo, manager) sold the building at 4670 S Palo Verde Road in Tucson for $3.2 million ($114 PSF). The 28,145-square-foot building on 3.21 acres...

Oro Valley Medical Office Sells as Investment to California Buyers

Oro Valley, Arizona – A single tenant medical building at 1856 E Innovation Park Drive in Oro Valley sold in an investment sale for $1.32 million ($233.46 PSF). The 5,654-square-foot building was purchased by California investor, La Mantia Family 2001 Trust, and was fully occupied by Oro Valley Pediatrics. A...

Westside Land Assemblage is Second Logistics Center for Amazon in Tucson

TUCSON, ARIZONA -- Steve Cohen and Russ Hall of Cushman & Wakefield | Picor represented Scannell Properties of Indianapolis, IN (Robert Scanell, CEO) in the assemblage of 9.57 acres for the new Amazon distribution center being built in Tucson. Scanell purchased the property for approximately $1.5 million ($3.60 PSF)...

Houghton Town Center Ends Year with Investment Sale and New Surf...

TUCSON, ARIZONA – Houghton Town Center is a highly successful 60-acre community center located on Houghton Road north of I-10 and serving Rita Ranch, Vail and southeast Tucson.  Anchors include Walmart, Discount Tire, TJ Maxx, AutoZone, Petco, Brake Masters, Nationwide Vision, SuperCuts and Ross Dress For Less joined by...

El Corredor Oro Valley Retail Pad Sold for $2.4 Million

ORO VALLEY, Arizona – Loredo, Texas-based, Avery Commercial Small C, LLC an affiliate of Laredo Horizons Development Corp. (Brian Moreno, COO) purchased a 7,725-square-foot multi-tenant retail building at 9630 N. Oracle Road in Oro Valley for $2.4 million ($311 PSF). The property is a newly constructed multi-tenant retail building in...

O’Reilly Auto Coming to New Retail Project at Ajo and Kinney...

TUCSON, ARIZONA -- O’Reilly Auto Enterprises, LLC purchased a 42,154-square-foot lot near the southeast corner of Ajo Way and Kinney Road.  The seller was SEC Ajo & Kinney LLC, an affiliate of Glenwood Development of Mesa. The land sold for $750,000 ($17.79 PSF) and will be used to construct a 6,300-square-foot...

Colony Industrial Sells Palo Verde Industrial

STAG Industrial Acquires 129,047 SF Premier Industrial Building PHOENIX, Arizona – On behalf of Dallas-based Colony Industrial, Cushman & Wakefield announced the firm facilitated the sale of Palo Verde Industrial, a 129,047-square-foot building on 7.32 acres in Tucson, Arizona. Boston-based STAG Industrial, purchased the asset for $10.025 million ($77.68 PSF). Executive...

Larsen Baker acquires Gallery Row for Office Redevelopment

Tucson, Arizona – Tucson-based Larsen Baker, through its affiliate Gallery Row Group, LLC, has acquired Gallery Row, a 22,500-square-foot commercial property at the northeast corner of Skyline Drive and Campbell Avenue. Larsen Baker will reposition the former retail property into high end office space. The center will be renamed...

HSL Buys Hampton at Williams Center for $8.2 Million to Renovate

TUCSON, ARIZONA -- HSL Properties purchased the Hampton Inn & Suites Tucson East/Williams Center, located at 251 S. Wilmot Road in Tucson, for $8.2 million ($81,188 per room) with plans to renovate the 101-room hotel, built in 2009. This is the second recent hotel renovation for HSL at Williams Center,...

The Retreat at Tucson Sold for $56.2 Million

TUCSON, Arizona -- Alden Street Capital Management (Greg Olbrys and Jonathan Krasner, principals) has acquired The Retreat at Tucson, a 183-unit student housing community with 774-beds, serving the University of Arizona in Tucson. The seller was an affiliate of Chicago-based Heitman Capital Management, Tucson Real Estate Holdings, LLC. Located at...