4
INSIDETUCSONBUSINESS.COM
OCT 22, 2021
REAL ESTATE & CONSTRUCTION
EMAIL YOUR REAL ESTATE TRANSACTIONS TO JEFF@TUCSONLOCALMEDIA.COM
La Encantada shopping mall sold for $165M million loan from Goldman Sachs. Located at the intersection of Skyline Road and Campbell Avenue, La Encantada a Encantada, the was completed in 2003 and open-air shopping regularly ranks in local polls mall in the Catalina as one of Tucson’s favorite Foothills, was sold for $165 shopping destinations. million in September. The “This asset is the crown 246,000-square-foot mall is jewel of Tucson retail,” said known for supporting highJLL Capital Markets’ Patrick end retail, home to stores Dempsey, who led the sale, such as AJ’s Fine Foods, in a release. “Many stores Pottery Barn, Blanco Tacos at La Encantada are exclu+ Tequila, Crate & Barrel, sive to the area, with a draw lululemon and more. expanding the entire market. JLL Capital Markets repLack of available land for resented the seller, Macernew development in the ich Company, which owns Foothills Retail submarket multiple shopping malls throughout the country. This makes La Encantada an irreplaceable property.” is Macerich’s second major sale in Arizona this year, SALES after selling the majority of its Paradise Valley Mall in Amerco Real Estate Phoenix for $95 million. Company purchased 11.85 “In addition to sales of acres of industrial land at these properties, we are Tangerine Commerce Park successfully executing on Lot 7 in Tucson. The vacant a robust land and pad sale land parcel was purchased program, from which from Tangerine/I-10, LLC we expect to generate an for $4,207,071. Jesse Blum, additional $100 million Industrial Specialist with during 2021-2023,” said Cushman & Wakefield | PIEd Coppola, president of COR, represented the seller Macerich in a press release. in this transaction. “Our focused disposition efforts are designed to allow Sonora Behavioral Health us to recycle capital into key Hospital, LLC, purchased a densification and diversifica- 16,999-square-foot medical tion activities, as we continue office building located at to realize our town center 3130 E. Broadway Blvd. in strategy at a number of Mac- Tucson. The single-tenant erich properties across the investment property was country.” purchased from LC3130, Town West Realty, HSL LLC, for $3,922,000. Properties and Iridius Capi- Thomas J. Nieman, Printal came together to purchase cipal, and Office Specialist the property, with a $102 Jeff Gardner
Inside Tucson Business
L
Tucson Local Media file photo.
with Cushman & Wakefield | PICOR, represented the seller in this transaction. Jeremy Adams with Jones Lang LaSalle Brokerage, Inc., Atlanta, represented the buyer. Mirror Mirror Medical Aesthetics and Wellness purchased a 2,436-squarefoot, freestanding building located at 1880 W. Orange Grove Rd. in Tucson. The building, situated on 1.44 acres, was purchased from JCM Tucson, LLC, for $465,000. Aaron LaPrise, Principal, and Retail Specialist with Cushman & Wakefield | PICOR, handled the transaction. Mister Car Wash, the largest car wash company in America and locally based in Tucson, purchased 1.38 acres of retail land located at the southwest corner of Rancho Sahuarita Blvd. and Sahuarita Rd. in Sahuarita, AZ. The vacant land parcel was purchased from Rancho
Sahuarita Commercial Ventures, LLC, for $1,257,382. Aaron LaPrise and Dave Hammack, Principals, and Retail Specialists with Cushman & Wakefield | PICOR, represented both the buyer and seller in this transaction. Additional opportunities for MCW can be sent to Aaron LaPrise. Stone 14, LLC, purchased a 7,553-square-foot, multifamily apartment complex located at 2620 N. Stone Ave. in Tucson. Stone Apartments, a 14unit casita-style property, was purchased from Stone Apartments, LLC, for $1,040,000. Allan Mendelsberg, Principal, and Conrad Martinez, Multifamily Specialists with Cushman & Wakefield | PICOR, represented both parties in this transaction. 324 3rd Ave LLC, purchased two, four-plexes located at 331-337 S. Railroad Ave. and 322-328
S. Third Ave. in Tucson. The Railroad and Third property, an eight-unit apartment complex totaling 6,552 square feet of multifamily space, was purchased from Austin RE Holdings, LLC, for $965,000. Allan Mendelsberg, Principal, and Conrad Martinez, Multifamily Specialists with Cushman & Wakefield | PICOR, represented both parties in this transaction. Punahou Tucson Three, LLC, purchased a 5,632-square-foot, multifamily apartment complex located at 1302-1310 N. Richey Blvd. in Tucson. Richey Apartments, an 8-unit property, was purchased from JSS Richey, LLC, for $830,000. Allan Mendelsberg, Principal, and Conrad Martinez, Multifamily Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction. Desiree Palmer, with ABI Multifamily, LLC, represented the buyer. Dodge Fairmount LLC, purchased two, four-plexes located at 1412-1418 N. Dodge Blvd. and 3701-3707 E. Fairmount St. in Tucson. The Dodge and Fairmount property, an 8-unit apartment complex, totaling 4,287 square feet of multifamily space, was purchased from Austin RE Holdings, LLC for $685,000. Allan Mendelsberg, Principal, and Conrad Martinez, Multifamily Specialists with Cush-
man & Wakefield | PICOR, represented both parties in this transaction. Hispania Estates, LLC, purchased 0.82 acres of industrial land located at 1340 N. Mariposa Rd. in Nogales, AZ. The vacant land parcel was purchased from Araujo Vazquez Co., LLC, for $500,000. Cintya Denisse Angulo Garcia, Commercial Specialist with Cushman & Wakefield | PICOR, represented the buyer in this transaction. Mirna Valdez, with Century 21 Success Realty, represented the seller. Ventana Canyon Investments, LLC, purchased 5,832 square feet of multifamily space located at 3449, 3471, 3473 N. Geronimo Ave. and 350 E. Yavapai Rd. in Tucson. Brick Homes of Geronimo, a 12-unit apartment complex, was purchased from BRInc Financial, LLC, for $1,070,000. Allan Mendelsberg, Principal, and Conrad Martinez, Multifamily Specialists with Cushman & Wakefield | PICOR, represented both parties in this transaction. Biggan Properties, LLC purchased a 2,083-squarefoot office building located in Old Farm Executive Park, 6019 E. Grant Rd., Lot 73 in Tucson. The single-tenant office property was purchased from Fox Hollow Enterprises, LLC, for $387,500. Thomas J. Nieman, Principal, and
