Sales Transactions
1.Ten years after UHS of Tucson, LLC announced the acquisition/operation of Palo Verde Behavioral Health at 2695 N. Craycroft Road in Tucson, the transaction has concluded. Tucson Medical Center sold the 83.6KSF medical facility to UHS for $19.1M in December. Cushman & Wakefield | PICOR’s Rick Kleiner represented the seller.
2. Oracle Limberlost Shopping Center LLC, an affiliate of Whirlygig Properties, sold Limberlost Retail Center at 4128-4146 N. Oracle Road in Tucson for $5.6M. The 38.4KSF retail center had two vacant spaces at the time of sale. SRS Real Estate Partners’ Patrick Luther represented the buyer, T Limberlost AZ LLC.
3. The 34.3KSF building at 141 Paseo De Yucatan in Rio Rico was purchased by the State of Arizona Department of Agriculture. The Department purchased the building for $3.8M and intends to occupy it. Rio Rico, LLC, the seller, was represented by NAI Horizon’s Gordon Wagner and Ben Craney. JLL’s Chris Corney represented the buyer.
4. Belgravia Group closed on the land for Atavia, an 88-unit condominium development at Loop 101 and Scottsdale Road in north Scottsdale. KTGY is designing the condominiums. Cambridge Properties is leading the sales efforts for Atavia.
Lease Transactions
5. JLL announced it completed a lease with The Mahoney Group to relocate and expand its corporate headquarters by moving into a building in Mark IV Capital’s Chandler Freeway Crossing office park at 2625 W. Geronimo Place in Chandler. Mahoney will be operating in 35.2KSF of the 156.8KSF building. The company is expected to occupy the property in Q1 of this year. JLL’s Mark Gustin, Jimmy Cornish and Emily Minnier represented Mark IV Capital. Lee & Associates’ Adam Tolson represented The Mahoney Group.