St. Demetrios Greek Church buys new Tucson location

St. Demetrios Greek Orthodox Church is headed to the foothills.

Church officials announced the auctioning of the property they have called home for 60 years, at 1145 E. Fort Lowell Road, in June, and the auction was held Tuesday.

The results have not yet been announced.

St. Demetrios, known to those outside of the religion for its annual Greek Festival, bought a new site for a church and event center at 3939 N. Alvernon Way, near River Road, for $1.2 million.

Despite acquiring the new property, the Greek Festival, normally held in the fall, will be on hold for a while.

Following a fire in 2013 that badly damaged the church, the congregation decided to sell the property and relocate closer to its members — the majority of whom live north of River Road.

“The church’s acquisition of this new venue provides the church with amazing growth opportunities to support its members and continue to serve Tucson’s Greek Orthodox Community,” said William “Billy A” Anastopoulos, the parish president. “The church looks forward to making additional announcements about our new venue shortly.”

Michael A. Fine, president of Fine & Co., is handling the auction of the Fort Lowell site, which was split into four parcels that bidders could buy individually, in combination or the whole site.

The existing zoning allows for single or multifamily residential development, a church, school or commercial use.

Stay tuned to find out who buys it and their plans.

Other local real estate transactions include:

Scottsdale-based Vertical Street Ventures bought the 232-unit Metro Tucson complex at 3985 N. Stone Ave. for $38.5 million. Hamid Panahi, Clint Wadlund, Steve Gebing and Cliff David, with Institutional Property Advisors, handled the sale.

Washington, D.C., investors bought the 174-unit Midtown on Seneca Townhomes at 3201 E. Seneca St., for $28 million. Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick, with ABI Multifamily, handled the sale.

California investors bought the Fiesta Mercado Shopping Center at 2930 S. Sixth Ave. for $12.2 million. The center is anchored by Food City. Chris Tramontano, with SRS Real Estate Partners, represented the buyer.

T.L.C. Ronstadt LLC bought the 15,275-squre-foot property at 600-618 E. 20th St. from ADMC Properties LLC for $1 million. Tim Healy, with CBRE, handled the sale.

2102 Forbes Investors LLC bought 11,900 square feet of industrial space at Broadbent Business Center, 2102 N. Forbes Blvd., from East Park VI Holding Company LLC for $1 million. Robert Glaser, with Picor, represented the seller.