Investors have again zeroed in on Tucson apartments.
Casas Adobes, a 204-unit complex at 6200 N. Oracle Road, has been sold to Colorado-based GR Capital Partners for $11.75 million.
Brett Polachek and Jim Crews from the Cushman & Wakefield Phoenix office and Allan Mendelsberg of Picor represented the owner, Casas Adobes Partners V LLC of Torrance, Calif.
Built in 1978, the apartment community contains 156,280 square feet of space and is 95 percent occupied. Casas Adobes offers studio and 1- and 2-bedroom floor plans with an average unit size of 766 square feet.
Several apartment complexes have been purchased by out-of-town investors in recent months.
Other recent commercial transactions include:
- Groome Properties IV LLC bought a 2.47-acre parcel of land at 9633 N. Tiffany Loop Drive from KOPE Real Estate II LLC for $570,000. The seller was represented by Randy and Gary Emerson of GRE Properties.
- Willis Metalcrafts Inc. bought a 5,000-square-foot industrial building at 3214-3220 E. 46th St. from Joseph L. Scott and Shirley C. Scott for $200,000. Paul Hooker, with Picor, represented the seller. Tom Hunt and Bob Davis, with Tango Commercial Real Estate LLC, represented the buyer.
- The Station on 6th Ave. LLC bought a 3,478-square-foot retail building at 901 S. Sixth Ave. from Jorge E. Martinez for $200,000. Ron Zimmerman, with Picor, represented the seller, and Adam Lundquist, with Southwest Urban Realty LLC, represented the buyer.
- The Steven Huettner and Brenda P. Huettner Revocable Living Trust bought a 3,200-square-foot industrial building at 933 N. Main Ave. from Kaiser Downtown LLC for $200,000. Paul Hooker, with Picor, represented the seller, and Robert Redding, with Centra Realty, represented the buyer.
- First Financial Equity Corp. leased 4,520 square feet at La Paloma Corporate Center, 3567 E. Sunrise Drive. David Montijo and Damian Wilkinson, with CBRE, represented the landlord. CBREโs Jeff Casper and Bryce Terveen represented the tenant.
- Priority Auto and Tire Center LLC leased 4,487 square feet at 3575 E. Grant Road from Norman Medeiros Sr. Revocable Living Trust. Ron Zimmerman, with Picor, represented the landlord.
- Tucson Mountain Medical Park, 1773 W. St. Maryโs Road, signed leases with two tenants bringing the park to 100 percent occupancy. Southwest Orthopaedic Surgery leased 1,580 square feet, and Bayada Home Health Care leased 1,364 square feet. Bayada was represented by Gary Best, with Keller Williams Southern Arizona Realty. Bruce Suppes and Dave Volk, with the CBRE, represented the landlord.
- Tender Loving Care Health Care Services Western LLC leased 3,762 square feet at 5300 E. Erickson Drive from TMC Holdings, Inc. Rick Kleiner, with Picor, handled the transaction.
- Rug Warehouse leased 2,320 square feet in Winterhaven Square, at Fort Lowell and Country Club roads, from Glover Associates LP. Greg Furrier, with Picor, handled the transaction.
