Tucson Real Estate: Denver investors buy self-storage complex

Denver-based Baron Properties bought Continental Ranch Self Storage, 5650 W. Coca Cola Place, for $7.5 million.

Investor interest in self-storage facilities has been strong in the past year, fueled by local job announcements and a limited supply of self-storage units.

“With very few self-storage acquisition opportunities in Arizona, this asset drew national attention from numerous buyers,” said Denise Nunez, with NAI Horizon who represented the seller, LPG Associates of Rohnert Park, Calif.

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Continental Ranch has 736 units, near Interstate 10 and Cortaro Farms Road.

Other recent commercial transactions include:

• Texas Instruments Inc. bought 360,883 square feet of land at 301 S. Williams Blvd., in the Williams Centre, for $4.9 million. The seller was 4636 North 43rd Ave LLC and SESC Management LLC. David Montijo and Damian Wilkinson, of CBRE, represented the seller. The buyer was self-represented and plans to build a new office complex at the site.
• Spirit Halloween Superstores leased 45,219 square feet in the former Toys R Us space at 5355 E. Broadway from SDR Associates LLP. Nancy McClure, with CBRE, represented the landlord.
• Bay Insulation of Arizona leased 8,600 square feet of industrial space from Dodge Properties LLC at 3133 S. Dodge Blvd. The landlord was represented by Gary Emerson, of GRE Partners LLC, and the tenant was represented by Tim Healy Jr. and Bill Bayless, of CBRE.
• BADA Holdings LLC bought a 5,520-square-foot office building from KLB Properties LLC for $995,360. The property is at 4534 – 4538 E. Camp Lowell Drive. Dean Cotlow, of Cotlow Co., represented the seller and Jeff Casper, with CBRE, represented the buyer.
• Orthomed LLC, doing business as Proactive Physical Therapy, leased 3,744 square feet of clinic space at 1055 N. La Cañada Drive from Healthcare Realty Services Inc. Jeff Casper, of CBRE, represented the tenant and Tom Nieman, with Picor, represented the landlord.
• Solee Enterprises, a chicken wing restaurant, leased 1,750 square feet at 9040 E. Valencia Road. Dave Dutson, with NAI Horizon, represented the landlord.