It is apparently still a good time to be a landlord in the Tucson market.
Multifamily properties continue to snapped up by investors as the rental market closes out the year with strong demand.
With home prices climbing out of reach for many, prospective homebuyers remain in rentals or are moving into rentals to wait out the hot market.
Recent examples include:
The 19-unit Conrad Apartments, 301 W. Helen St., was bough by BLC Real Estate Subsidiary AZ LLC from BRInc Colonial LLC for $1.9 million. Allan Mendelsberg and Conrad Martinez, with Picor, represented both parties.
The duo also represented Brinc Dale MHP LLC in the purchase of three single-family residences at 3074, 3102 and 3106 N. Alvernon Way and a 36-space manufactured housing community in the 3100 block of North Dale Avenue, for $1.9 million. The seller was Joseph E. Schulte.
Mendelsberg and Martinez also represented 837 8th Ave LLC in the sale of the 4-unit complex at 837 S. Eighth Ave. to Hedgehog LLC for $725,000. Michael Bennett and Larry Burr, with Atlas AZ LLC, represented the buyer.
And, TAD Holdings LLC bought the 12-unit complex at 2040 W. Nebraska St., from Martin A. Sax for $870,000. Joseph Chaplik, with Joseph Bernard Investment Real Estate, represented the buyer.
Aside from rentals, other recent commercial transactions include:
WB Real Estate LLC bought a 7.10-acre land parcel at 5050 E. Valencia Road from Jet King Shing Ho for $775,000. Greg Furrier and Paul Hooker, with Picor, represented the seller. Bonnie Arlia and Darren Pitts, with Velocity Retail Group, represented the buyer.
United Refrigeration Inc., leased 16,520 square feet of industrial space from GS Eternal LLC-Series C at 2125 E. Beverly Drive. Paul Hooker, with Picor, represented the landlord and Tim Healy, with CBRE, represented the tenant.
Lechner Construction Inc. leased 2,400 square feet of industrial space at Exchange Place, 1870 W. Prince Road, from Pegasus Tucson Owner LLC. Paul Hooker, Andrew Keim and Dave Hammack, with Picor, handled the lease.
One Wild Salon LLC leased 1,216 square feet from The Flash TV LLC at 835 S. Sixth Ave. Joey Castillo, with Volk Co., handled the lease.
Desert Spin LLC leased 1,950 square feet in the Rancho Center, 3400 E. Speedway. Debbie Heslop and Joey Castillo, with Volk Co., handled the lease.
Information for Tucson Real Estate is compiled from records at the Pima County Recorder’s Office and from brokers. Send information to Gabriela Rico, grico@tucson.com