REAL ESTATETexas-based Builders FirstSource acquires Arizona building materials supplier for $400M

In holiday trends guide, CBRE expects brick and mortar sales to surge

Jeff Gardner

Inside Tucson Business

Abusy holiday shopping season is a silver lining for retail real estate, according to a new report om real estate services company CBRE. In their annual Holiday Trends report, CBRE reports that more consumers plan to shop in department stores than online as compared to last year, which may boost demand for retail real estate.

“Tucson retailers are already starting to welcome holiday shoppers looking to purchase gi s in-person rather than chancing delivery delays om online orders closer to the holidays,” said Nancy McClure, first vice president with CBRE in Tucson. “This trend is driving increased foot traffic to Tucson’s retail centers, which, in turn, should positively impact spending at our local retailers and restaurants.”

Despite challenges like lingering coronavirus and the o -discussed supply chain delays, the report forecasts total holiday sales to increase between 7% and 10.5% this year. Brick-and-mortar retail sales are expected to rise by 8% this season, which would be a 10-year high. In total, brick-and-mortar are expected to make up roughly 80% of holiday sales, resulting in approximately $640 billion.

“Despite disruption om the COVID-19 pandemic, the retail real estate sector is well on the road to recovery. The retail availability rate is nearing a long-term low a er four consecutive quarters of positive net absorption,” the report says. “Despite potential challenges, the 2021 holiday season should generate record sales volume and go a long way toward improving retail real estate fundamentals.”

To read the report, visit cbre. com/insights/briefs/2021-holiday-shopping-trends

SALES

Tucson Logistics Land, LLC purchased 9.07 acres of land om Butterfield Tucson Limited Partnership, and 2.296 acres of land om Stewart Family Limited Partnership. Both parcels are located at Butterfield Business Center, Lot D, in Tucson. The purchaser plans to build a 194,750-squarefoot industrial building for lease on the site. Robert C. Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller. Stephen D. Cohen, Industrial Specialist with Cushman & Wakefield | PICOR, represented the buyer in this transaction, and will represent the project leasing as well. purchaser, Main Street Town Center, LLC in the purchase of an approximately 1,650 square foot office condo 5956 E. Pima Street, Suite 120, om Michael H. Strauss for a purchase price of $200,000.

Sunbelt 2, LLC purchased 60.92 acres of industrial land at Sunbelt Industrial Center, Rita Ranch Lot 2, East Old Vail Road in Tucson, om JKKAP, LLC for $1,350,000. Stephen D. Cohen, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction. Max Fisher with BRD Realty represented the purchaser, who will develop industrial buildings on the site.

Rick Borane of VOLK Company represented the seller, Loon Lake LLC, in the sale of the approximately 7,000 square feet of land with approximately 3,000 square feet of building improvements at 103 N. Park Ave. to Emet, LLC for a sale price of $980,000

Brighton Holdings purchased 0.42 acres of land at Mercado at Canada Hills Lot 9 in Oro Valley, om La Canada Land Holdings, LLC for $525,000. Molly Mary Gilbert, Office Specialist with Cushman & Wakefield | PICOR, and Brandon Rodgers with BRD Realty, LLC, represented the buyer in this transaction. Barry Kitay with Whirlygig Properties, LLC, represented the seller.

Paleteria y Neveria La Michoacana, LLC purchased 2,247 square feet of retail space at 3102 E. 22nd Street in Tucson, om MEGB, LLC for $700,000. Jose Dabdoub, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller in this

Courtesy photo

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