Sales Transactions
1. The former Sam Levitz building at 3430 E. 36th St. in Tucson was recently purchased by Arto Brick for $8.6M. The seller was 36th & Palo Verde Investors. PICOR’s Stephen Cohen and Paul Hooker represented the seller, while Volk Company’s Rick Borane represented the buyer.
2. Brandon Investments LLC purchased 51.8KSF of industrial space at 6701 S. Midvale Park Road in Tucson from 6701 S. Midvale Park LLC for $5.55M. Stephen D. Cohen with Cushman & Wakefield | PICOR represented the buyer. Jesse Blum with CBRE represented the seller.
3. Aspen Nevada SPE, LLC sold Arizona Farms, a 28-acre land parcel at the intersection of Arizona Farms Road and Felix Road in Florence. AZ Farms 28, LLC purchased the parcel for $4.7M. Rommie Mojahed and Kevin Smith of CRE8 Advisors represented the buyer. The property is located within the Arizona Farms corridor near the SRP Abel Substation and is planned for future retail, industrial and multifamily pad development.
4. CRE8 Advisors announced the sale of 18 acres of land at the intersection of Arizona Farms Blvd. and Apollo Road in Queen Creek. The land sold for $2.7M. CRE8’s Rommie Mojahed, Kevin Smith and Lindsey Dulle represented the seller, Chris the Victor Future Facilities, LLC. The buyer was Apollo 18, LLC.
Lease Transactions
5. NEFCO Construction Supply LLC leased 24.2KSF of industrial space at Drexel Commerce Center, 2730 E. Drexel Road, Suite 2110 in Tucson from Schnitzer Properties, LLC. Jesse Blum and Alex Demeroutis, former agents of Cushman & Wakefield | PICOR, and Robert C. Glaser with C&W | PICOR represented the landlord. Tim Healy with CBRE represented the tenant.