Tucson's Hacienda Motel sold for $2.8M, may become apartments

The Hacienda Motel on Oracle Road, along with its iconic neon sign, has been sold for $2.8 million.

Colonia Properties TIC II LLC bought the 51-unit building at 1742 N. Oracle Road from Oasis Living LLC. Investors are considering turning the property into apartments.

The 18,000-square-foot property has onsite laundry and a pool.

Allan Mendelsberg and Conrad Joey Martinez, with Picor, handled the sale on behalf of both California companies.

Other local real estate transactions include:

Mandarina South LLC bought 112 acres of land on the northeast corner of Tangerine Road and Interstate 10 for $4.2 million. Robert Glaser, with Picor, represented the seller and Brent Moser, with Lee & Associations Arizona Commercial Real Estate, represented the buyer.

The former Pier One building at 5919 E. Broadway was sold by Barrett Associates to TRC Properties XII LLC for $2.2 million. Joey Castillo, with Volk Co., represented the buyer and the seller was represented by Jordan Simon and Karen Farrell, with Venture West.

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Developers bought 56,387 square feet of vacant land at 405 W. Speedway (at Main Avenue) to build a Tropical Smoothie shop. Jeramy Price, with Volk Co., represented the buyer NPF LLC in the $1.3 million sale. Rob Tomlinson, with Picor, represented the seller IronTex Developers LLC and Main & Speedway LLC.

The former Abbey Funeral Chapel at 3415-3435 N. First Ave. has been sold to SCI Arizona Funeral Services LLC for $1.1 million. The buyer plans to remodel and reopen the business next year. Dave Volk and Joey Castillo, with Volk Co., represented the seller Waly Krotenberg Revocable Trust.

Central Barrio Development LLC bought an 8,000-square-foot building at 5639 E. Fifth St. from KEYSCD LLC for $835,000. Joey Castillo, with Volk Co., represented the buyer and the seller was represented by Ian Stuart and Bruce Suppes, with CBRE.

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