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
- 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 Recorderβs 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
- Updated
AZ Equity Group LLC bought Town & Desert Apartments, a 33-unit complex atΒ 331 S. Alvernon WayΒ from Town and Desert LLC for $1.3 million. Allan Mendelsberg, with Picor, represented both parties.Β
- Gabriela Rico
- Updated
Colonia Verde LLC bought a 6,894-square-foot retail building atΒ 7285 E. Tanque Verde RoadΒ 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
- Updated
Iglesia de Jesucristo Palabra Miel Tucson bought a 7,600-square-foot church on 7.94 acres of land atΒ 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
- Updated
Copper Street Armor Factory LLC bought a 12,800-square-foot industrial building and vacant lot atΒ 1830Β andΒ 1840 W. Copper St. from LLDK LLC for $702,000.Β Rob Glaser, SIOR, with Picor, represented the seller and Robert Nolan, with Oxford Realty Advisors Inc., represented the buyer.
- Gabriela Rico
- Updated
Brett Interiors Inc. leased 3,224 square feet atΒ 3821 W. Costco DriveΒ from Bay Shore Oil Co. Inc. Dave Hammack, of Volk Co. represented the landlord.
- Gabriela Rico
- Updated
K&M LLC, doing business as PokeZone Sushi Restaurant, leased 2,600 square feet atΒ 52 W. Congress St.Β from BC Limited LLC. Jeramy Price, of Volk Co., represented the tenant and Michael Laatsch, of CBRE, represented the landlord.
- Gabriela Rico
- Updated
Baja Fish leased 1,547 square feet at Tucson Place Shopping Center, on the northwest corner ofΒ First Avenue and Wetmore Road. Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker.
- Gabriela Rico
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 Recorderβs 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
AZ Equity Group LLC bought Town & Desert Apartments, a 33-unit complex atΒ 331 S. Alvernon WayΒ from Town and Desert LLC for $1.3 million. Allan Mendelsberg, with Picor, represented both parties.Β
- Gabriela Rico
Colonia Verde LLC bought a 6,894-square-foot retail building atΒ 7285 E. Tanque Verde RoadΒ 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
Iglesia de Jesucristo Palabra Miel Tucson bought a 7,600-square-foot church on 7.94 acres of land atΒ 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
Copper Street Armor Factory LLC bought a 12,800-square-foot industrial building and vacant lot atΒ 1830Β andΒ 1840 W. Copper St. from LLDK LLC for $702,000.Β Rob Glaser, SIOR, with Picor, represented the seller and Robert Nolan, with Oxford Realty Advisors Inc., represented the buyer.
- Gabriela Rico
Brett Interiors Inc. leased 3,224 square feet atΒ 3821 W. Costco DriveΒ from Bay Shore Oil Co. Inc. Dave Hammack, of Volk Co. represented the landlord.
- Gabriela Rico
K&M LLC, doing business as PokeZone Sushi Restaurant, leased 2,600 square feet atΒ 52 W. Congress St.Β from BC Limited LLC. Jeramy Price, of Volk Co., represented the tenant and Michael Laatsch, of CBRE, represented the landlord.
- Gabriela Rico
Baja Fish leased 1,547 square feet at Tucson Place Shopping Center, on the northwest corner ofΒ First Avenue and Wetmore Road. Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker.
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