Tucson Real Estate: Developers plan new student housing tower near UA
- Updated
Property is currently home to Chase Bank at the University of Arizona.
- Gabriela Rico Arizona Daily Star
- Updated
A new student housing tower is expected to soon be on the rise at the site next to the Chase Bank at the University of Arizona.
Class A Investors Tucson bought a portion of the property on Park Avenue, just south of Speedway, from JP Morgan Chase Bank for $10.2 million, data from the Pima County Recorder’s Office shows.
There are several student housing projects in varying stages of development near campus, as occupancy rates are high in the existing towers, which command above-average rents.
Experts say growing enrollment and state cuts to university funding made the availability of space for students a matter for private developers, since universities could not afford to build student housing.
No specific plans have been announced for the future tower on Park Avenue.
- Gabriela Rico Arizona Daily Star
- Updated
AZ Equity Group LLC bought Town & Desert Apartments, a 33-unit complex at 331 S. Alvernon Way from Town and Desert LLC for $1.3 million. Allan Mendelsberg, with Picor, represented both parties.
- Gabriela Rico Arizona Daily Star
- Updated
Colonia Verde LLC bought a 6,894-square-foot retail building at 7285 E. Tanque Verde Road from The Price Group LLC for $1.2 million. Rob Tomlinson, with Picor, represented the seller and George Larsen and Melissa Lal, with Larsen Baker LLC, represented the buyer.
- Gabriela Rico Arizona Daily Star
- Updated
Iglesia de Jesucristo Palabra Miel Tucson bought a 7,600-square-foot church on 7.94 acres of land at 3601 W. Cromwell Drive. The property was sold by Mountain Vista Unitarian Universalist Congregation for $725,000. Rob Tomlinson, with Picor, and Kristy Kelley, with Long Realty Co., represented the seller. Melissa Gutierrez, with Elite Real Estate Pros, represented the buyer.
- Gabriela Rico Arizona Daily Star
- Updated
Copper Street Armor Factory LLC bought a 12,800-square-foot industrial building and vacant lot at 1830 and 1840 W. Copper St. from LLDK LLC for $702,000. Rob Glaser, SIOR, with Picor, represented the seller and Robert Nolan, with Oxford Realty Advisors Inc., represented the buyer.
- Gabriela Rico Arizona Daily Star
- Updated
Brett Interiors Inc. leased 3,224 square feet at 3821 W. Costco Drive from Bay Shore Oil Co. Inc. Dave Hammack, of Volk Co. represented the landlord.
- Gabriela Rico Arizona Daily Star
- Updated
K&M LLC, doing business as PokeZone Sushi Restaurant, leased 2,600 square feet at 52 W. Congress St. from BC Limited LLC. Jeramy Price, of Volk Co., represented the tenant and Michael Laatsch, of CBRE, represented the landlord.
- Gabriela Rico Arizona Daily Star
- Updated
Baja Fish leased 1,547 square feet at Tucson Place Shopping Center, on the northwest corner of First Avenue and Wetmore Road. Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker.
A new student housing tower is expected to soon be on the rise at the site next to the Chase Bank at the University of Arizona.
Class A Investors Tucson bought a portion of the property on Park Avenue, just south of Speedway, from JP Morgan Chase Bank for $10.2 million, data from the Pima County Recorder’s Office shows.
There are several student housing projects in varying stages of development near campus, as occupancy rates are high in the existing towers, which command above-average rents.
Experts say growing enrollment and state cuts to university funding made the availability of space for students a matter for private developers, since universities could not afford to build student housing.
No specific plans have been announced for the future tower on Park Avenue.
AZ Equity Group LLC bought Town & Desert Apartments, a 33-unit complex at 331 S. Alvernon Way from Town and Desert LLC for $1.3 million. Allan Mendelsberg, with Picor, represented both parties.
Colonia Verde LLC bought a 6,894-square-foot retail building at 7285 E. Tanque Verde Road from The Price Group LLC for $1.2 million. Rob Tomlinson, with Picor, represented the seller and George Larsen and Melissa Lal, with Larsen Baker LLC, represented the buyer.
Iglesia de Jesucristo Palabra Miel Tucson bought a 7,600-square-foot church on 7.94 acres of land at 3601 W. Cromwell Drive. The property was sold by Mountain Vista Unitarian Universalist Congregation for $725,000. Rob Tomlinson, with Picor, and Kristy Kelley, with Long Realty Co., represented the seller. Melissa Gutierrez, with Elite Real Estate Pros, represented the buyer.
Copper Street Armor Factory LLC bought a 12,800-square-foot industrial building and vacant lot at 1830 and 1840 W. Copper St. from LLDK LLC for $702,000. Rob Glaser, SIOR, with Picor, represented the seller and Robert Nolan, with Oxford Realty Advisors Inc., represented the buyer.
Brett Interiors Inc. leased 3,224 square feet at 3821 W. Costco Drive from Bay Shore Oil Co. Inc. Dave Hammack, of Volk Co. represented the landlord.
K&M LLC, doing business as PokeZone Sushi Restaurant, leased 2,600 square feet at 52 W. Congress St. from BC Limited LLC. Jeramy Price, of Volk Co., represented the tenant and Michael Laatsch, of CBRE, represented the landlord.
Baja Fish leased 1,547 square feet at Tucson Place Shopping Center, on the northwest corner of First Avenue and Wetmore Road. Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker.
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