Former South Tucson dog track sells for $9 million

Tucson investors have bought the shuttered Tucson Greyhound Park in South Tucson for just over $9 million in cash.

Equilibrium Cordova Village LLC bought the 16.7-acre site at 2601 and 2631 S. Third Ave. and 2725, 2713 and 2631 S. Fourth Ave., records from the Pima County Recorder’s Office show.

Located within South Tucson, the property is zoned to allow retail business with wholesale, warehousing, repairing and amusement enterprise or limited manufacturing, though no plans for the property have been announced.

The site also sits in an “opportunity zone“ — a designation added to the tax code in 2017 as a way to get economic development in distressed areas.

Using proceeds from an unrelated sale, investors who use those profits to develop within the zones can defer capital gains taxes.

Tucson Greyhound Park opened in 1944 and raced dogs until 2016. Since then it operated as an off-track betting site and owners announced last month that it would close in June.

The sale of the park closed June 24.

Other local transactions include:

9th St 814-838 E LLC bought the 26-unit Sonoran on 9th Apartments, 814-838 E. Ninth St., from Pelican 9th LLC for $5.3 million. Allan Mendelsberg and Conrad Joey Martinez, with Picor, represented both parties.

Tucson Drexel Equities LLC bought 4 acres of vacant land at 5375 S. Tucson Blvd. from TucDrex LLC for $1.2 million. Aaron LaPrise, Dave Hammack and Andy Seleznov, with Picor, represented the seller. Carson John Klepinger, with Glenwood Real Estate Services LLC, represented the buyer.

Glenn Dorado LLC bought 4.14 acres of land at Fairview Business Park, 985, 986 and 964 W. Fairview Business Park Place, from Tucson Collision Inc. for $850,000. Jesse Blum and Alex Demeroutis, with Picor, and Scott Young, with CBRE, Michigan, represented the seller. Wayne R. Rutschman with Wayne R. Rutschman, represented the buyer.

Paleteria Y Neveria La Michoacana LLC bought 1,836 square feet at 302 W. Ajo Way from Richard & Rosemary Gomez for $375,000. Molly Mary Gilbert and Cintya Denisse Angulo Garcia, with Picor, handled the sale.

Southern Arizona Leadership Council Inc. leased 4,198 square feet of office space from WCCP Copper Point LLC, SOD Investments II LLC, and PVP Cambric LLC at 1760 E. River Road. Richard M. Kleiner, with Picor, represented the tenant and Philip Skillings, with NAI Horizon, represented the landlord.