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This heat map represents the percentage of change in Tucson metro median sales prices from May 2018-July 2018 to May 2019-July 2019 by zip code. Statistics are based on information obtained from the MLSSAZ on Aug. 5, 2019. Information is believed to be reliable, but not guaranteed. 

 

ABI Multifamily recently announced the $15.9 million sale of Orange Tree Village Apartment Homes, a 110-unit apartment community located in Casas Adobes. 

A private investment partnership composed of BlueSky Equity and Vista Laguna Asset Management out of California, Hamick Asset Management from Texas and Valley Oaks Capital out of Phoenix purchased the property. The seller was an entity formed though Next Wave Investors, LLC, a private investment company from San Clemente, California.

Built in 1981 and renovated in 2018, Orange Tree Village was improved with 22 one- and two-story buildings on 9.13 acres. The property features a mix of 20 one-bedroom units, 66 two-bedroom units and 24 three-bedroom units, with a weighted average of 1,274 square feet. 

Alon Shnitzer John Kobierowski, Rue Bax, Doug Lazovick and Eddie Chang of ABI Multifamily, along with Ryan Kippes of ABI’s Tucson office, represented handled the transaction. 

 “The seller did an amazing job turning the property around in a relatively short period of time,” Shnitzer said. “Next Wave Investors aggressively renovated the property, starting with the exterior and amenities, then moving to interiors. Average rents and other charges moved approximately $200 over about one year, and there’s more room to grow. In addition, the property is now well positioned for the incoming buyer to continue improving, renovating interiors and moving rents.”

 

Sales and Leases

 

Spirit Halloween Superstores leased two locations, a 21,535-square-foot space at 6230 E. Broadway Blvd., #100 owned by K-GAM Broadway Wilmont LLC, and an 18-384-square-foot space at the Saguaro Shopping Center, 5975 E. Broadway Blvd., #115. The landlord is KGAM Saguaro Properties, LLC. Nancy McClure with CBRE Tucson represented the landlords. Torrey Briegel with Phoenix Commercial Advisors represented the tenant.

Keith Fowlkes and Tara Baca dba: K & T Treasures Thrift Store leased 500 square feet of retail space located at 8501 E. 22nd Street from Shawn R. Abrahams. Frank Arrotta of Tucson Realty & Trust Co. handled the transaction.

Susan and Derick Brown leased 1,560 square feet of restaurant space located at 5975 W. Western Way, Ste. 109, from Trinum Properties, LLC. Frank Arrotta of Tucson Realty & Trust Co. handled the transaction.

Renewal Wellness, LLC leased 1,851 square feet of retail space located at 6437 N. Oracle Road from Orange Grove Village, LLC. Hank Amos of Tucson Realty & Trust Co., represented the tenant. Craig Finfrock of Commercial Real Estate Advisors, LLC represented the landlord.

Amigo Arizona Properties, LLC purchased an approximately 2,250-square-foot building on 6,000 square feet of land located at 2616 S. Alvernon Way from Doulos Concrete, Inc. Frank Arrotta of Tucson Realty & Trust Co. represented the buyer. Peter Canacakos of Long Realty Company-Commercial represented the seller.

S1K, LLC purchased Orange Grove Village Shopping Center, a 19,154-square-foot retail strip located at the northwest corner of North Oracle and West Orange Grove roads, for an undisclosed price from 4-D Properties. Craig Finfrock of Commercial Retail Advisors, LLC represented handled the transaction.

Iraj Solimani purchased 15,920 square feet of industrial space located at 576 and 580 W. Ventura St. from Wilcox Center II, LLC for $1,175,000. Paul Hooker with Cushman & Wakefield | PICOR represented the seller. Thomas Campbell with Long Realty Company represented the buyer.

Liquid Venture Holdings, LLC purchased 7.84 acres of vacant land located at 4925 E. Nebraska St. and 5111, 5115, 5141 and 5171 S. Arcadia Ave. from Carol Louise Hudson, Thomas Wayne Rogers, Donald Lee Rogers, Brian James Larson, Melinda Sue Larson, Tiffany Elizabeth Marson and Michelle Villegas-Goldin for $512,265. Ron Zimmerman with Cushman & Wakefield | PICOR represented the seller. Robert Martensen, SIOR, CCIM, with Colliers International, AZ., represented the buyer.

RB West Investments, LLC purchased Fort Lowell Apartments, a 12-unit multifamily property located at 220 E. Fort Lowell Road from 3G Holdings, LLC for $470,000. Allan Mendelsberg with Cushman & Wakefield | PICOR represented the buyer. Gregory Boccardo with Boccardo Realty represented the seller.

South Country Club Properties, LLC purchased 11,000 square feet of industrial space located at 5575 and 5577 S. Country Club Road from Redman Family Revocable Trust for $415,000. Paul Hooker with Cushman & Wakefield | PICOR represented the seller.

Francisco and Alma S. Ceballos purchased a 3,415 square-foot building located at 4114 E. Brown Way from Wells Fargo REO Division for $220,000. Aaron LaPrise with Cushman & Wakefield | PICOR represented the seller. Julian Willetts with RE/MAX Excalibur represented the buyer.   

 

Alejandro Moroyoqui Campa and Manuel Molina purchased 3.17 acres of vacant land located in the Swan Eco Industrial Park from Swan Industrial, LLC and Kazolt, LLC for $105,000. Paul Hooker with Cushman & Wakefield | PICOR represented the seller. The Ramirez Team, Kacy and Mary Ellen Ramirez with Long Realty Company, represented the buyer.

Jose Montano and Julisa Montano purchased 1.50 acres of vacant land located in the Swan Eco Industrial Park from Swan Industrial, LLC and Kazolt, LLC for $89,750. Paul Hooker with Cushman & Wakefield | PICOR represented the seller. 

 

 

 

CrossDocking and Warehouse Systems, Inc. leased 35,000 square feet in Las Palmas, 2050 Smokey Lane in Nogales, Arizona, from Nogales Property Management. Jose Dabdoub with Cushman & Wakefield | PICOR represented the tenant.

Yada Yada, LLC leased 14,500 square feet of located at 1861 W. Grant Road, Ste. 105 from Walker Tucson Property, LLC. Robert C. Glaser, SIOR, CCIM with Cushman & Wakefield | PICOR handled the transaction.

VeriFone, Inc. leased 13,196 square feet of office space located at 5151 E. Broadway Blvd., Ste. 900 from Tucson 5151 Investments, LLC. Richard M. Kleiner, MBA, and Thomas J. Nieman with Cushman & Wakefield | PICOR represented the landlord. David Montijo with CBRE represented the tenant.

Allen Industries, Inc. leased 8,800 square feet located at 1070 E. Mill St. from Copper State Land, LLC. Paul Hooker with Cushman & Wakefield | PICOR represented the landlord.

Conn Appliances, Inc. leased 8,275 square feet located at 4651-4662 S. Butterfield Drive from Butterfield Building Center, LLC. Ron Zimmerman with Cushman & Wakefield | PICOR represented the landlord. Jesse Blum with CBRE Tucson represented the tenant.

Connections - A Vineyard Church leased 7,480 square feet of space from Glover Associates, LP in Winterhaven Square, 3150 E. Fort Lowell Road. Greg Furrier and Rob Tomlinson represented, both of Cushman & Wakefield | PICOR, represented the landlord and tenant, respectively. 

Tucson Vet Specialists, PLLC leased 6,737 square feet of space from Ina Property Holdings, LLC for a new built-to-suite veterinary clinic in the Ina Road Professional Center, 1601 W. Ina Road. Thomas J. Nieman with Cushman & Wakefield | PICOR represented the landlord. Karen Farrell with Venture West Real Estate Services, LLC represented the tenant.

AK & J Sealants AZ, LLC leased 3,640 square feet located at 2539 N. Balboa Ave., Ste. 115 from Long Far Investments, LLC. Paul Hooker with Cushman & Wakefield | PICOR represented the landlord.

Brooklyn Bedding leased 2,568 square feet of pad space at Broadway Plaza, 7787 E. Broadway Blvd., from Phillips Edison Company. Aaron LaPrise with Cushman & Wakefield | PICOR represented the tenant.

IPG Investment Advisors, LLC leased 1,917 square feet of office space at 3573 E. Sunrise Drive, Ste. 120, from DHS Property Investments, LLP. Ryan McGregor and Thomas J. Nieman, with Cushman & Wakefield | PICOR, represented the landlord. Bryce Horner with Tango Commercial Real Estate represented the tenant.

Arizona Restoration Pros, LLC leased 1,780 square feet located at 1013 S. Euclid Ave. from Rich Rodgers South, Inc. Max Fisher with Cushman & Wakefield | PICOR handled the transaction.

Pinkerton Collective, LLC leased 1,390 square feet located at 850 E. Ohio St., Ste. 27from RRL, Inc. Max Fisher with Cushman & Wakefield | PICOR handled the transaction.

Layne’s Clocks renewed its lease for 1,294 square feet in Broadway Center, 5612 E. Broadway Blvd. Greg Furrier with Cushman & Wakefield | PICOR represented the landlord.

Flex It Academy leased 1,141 square feet of office space at 540 W. Prince Road from Rich Rodgers Central, Inc. Ryan McGregor with Cushman & Wakefield | PICOR represented the landlord. Julian Willetts with RE/MAX Excalibur represented the tenant.

SphereX, LLC leased 1,100 square feet in the 44th Street Business Park, 3780 E. 44th St., Ste. 116, from RR 44, Inc. Max Fisher with Cushman & Wakefield | PICOR handled the transaction.

Global Engineering Research and Technologies, LLC renewed its lease for 1,020 square feet in El Dorado Square, 1200 N. El Dorado Place, Ste. F-690, with El Dorado Ventures, LLC. Molly Gilbert and Tom Nieman with Cushman & Wakefield | PICOR represented the landlord.

Samurai Japanese Restaurant leased 1,000 square feet of retail space in San Francisco Square, 3912 N. Oracle Road, Ste. 100, from Machado Family Trust. Dave Hammack with Cushman & Wakefield | PICOR represented the landlord. Bill Swan with Tucson Business Investments represented the tenant.

Arizona Center for Advanced Lipidology leased 956 square feet in Los Altos Office Park, 6595 N. Oracle Road, Ste. 119, from JSN, LLC. Molly Gilbert with Cushman & Wakefield | PICOR represented the tenant. Bruce Suppes and Ian Stuart with CBRE Tucson represented the landlord.

Settlers West Home Builder, LLC leased 635 square feet in the Ina Corporate Center, 3275 W. Ina Road, Ste. 209 from Tufrom CALDOR Investments of Arizona, LLC. Thomas J. Nieman with Cushman & Wakefield | PICOR represented the landlord.