CBRE recently announced the sale of The Country Club of La Cholla, a 217-unit independent and assisted living community on Tucson’s north side to a Chicago-based senior living private equity fund for an undisclosed price.
Matthew Whitlock of CBRE National Senior Housing represented the seller, an Irvine, California-based affiliate of MBK Senior Living. CBRE’s Aron Will arranged for the acquisition financing for the buyer, CPF Living Communities.
The Country Club at La Cholla is a resort-style, full-service senior living community that sits on 10.6 acres at 8700 N. La Cholla Blvd. The 236,466 square-foot property is located near the Omni Tucson National Resort and Golf Course, Foothills Mall, Northwest Medical Center and a variety of restaurants and entertainment venues. The property averaged 97 percent occupancy in 2018, and will be managed by Grace Management, a wholly-owned subsidiary and management arm of CPF Living Communities.
Sales and Leases
AMCELL LTD dba: Metro PCS by Sprint leased for 1,267 square feet located at 3000 E. 22nd St. from El Campo Center, LLC. Craig Finfrock of Commercial Retail Advisors, LLC represented the landloRoad The tenant represented itself.
KI Ventures purchased a 1.49-acre lot located at the northeast corner of Rancho Vistoso Blvd. and West Moore Road for $450,000 from Mattamy Homes. Jon O’Shea, Rob Fischrup, and Eric Lamb of VAST represented the seller. Jenna Loving of Russ Lyon Sotheby’s International Realty represented the buyer.
Glass Geeks purchased two retail buildings totaling 8,122 square feet located at 4932 to 4940 E. Speedway Blvd. for $625,000 from the Olsen Family Trust. Jon O’Shea, Rob Fischrup, and Eric Lamb of VAST represented the seller. Juan Pantoja of Grimm Commercial represented the buyer.
The Startup Family Trust purchased a 9,100-square-foot retail building located at 22395 E. Sasco Road in Red Rock, Arizona from DCM Development Company, LLC for $1.8 million. Dave Hammack with Cushman & Wakefield | PICOR represented the seller. Mahlon Tobias with Tobias Commercial, represented the buyer.
Abdelsalam Khattab purchased a 30,000-square-foot industrial building located at 3151 E. Drexel Road from the Sanarp Trust for $1.2 million. Russell W. Hall, SIOR, GSCS and Stephen D. Cohen with Cushman & Wakefield | PICOR and Aaron Norwood with Levrose Commercial Real Estate represented the seller. Robert Arnold and Benjamin Riehle with Keller Williams Southern Arizona represented the buyer.
AZDA, LLC purchased Alvernon Apartments, a 24-unit apartment complex located at 2053 to 2099 N. Alvernon Way from KMS Enterprises, LLC for $937,500. Allan Mendelsberg with Cushman & Wakefield | PICOR handled the transaction.
AZDA, LLC purchased Speedway Apartments, a 15-unit apartment complex located at 6924 to 6940 E. Speedway Blvd. from KMS Enterprises, LLC for $937,500. Allan Mendelsberg with Cushman & Wakefield | PICOR handled the transaction.
John L. and Mary E. Stone purchased a four-plex located at 5566 E. Glenn St. from The Lake Investment Group, LLC for $405,000. Allan Mendelsberg with Cushman & Wakefield | PICOR represented the buyer. Tony Reed with Long Realty Company represented the seller.
Spencer Discount Sales, LLC leased 2,119 square feet at 3955 E. Speedway Blvd., Ste. 108 and 109 from Central Point Business Plaza, LP. Rob Tomlinson and Greg Furrier with Cushman & Wakefield | PICOR represented the landlord. Jon O’Shea with Vast Commercial Real Estate represented the tenant.