• UPDATE: Banner Health Selects Contractors for $400M Medical Center

    Banner Health’s first project in Tucson since its merger with the University of Arizona Health Network is moving forward. The company recently announced it has selected the contractors for its development, Banner – University Medical Center Tucson.

    09 June 2015 20:52
  • MC Companies Closes on 1,500-Plus Units of Mostly Subsized Housing

    MC Companies has recently purchased an 8-property multifamily portfolio in Tucson through its Tucson 8 Opportunity Fund, the group announced in a press release. The acquisition included a total of 1,576 units. According to Real Estate Daily News, Berkadia Commercial Mortgage financed the sale with 25% down payment from MC Companies. The financier’s local investment sales and real estate brokerage arm, Berkadia Real Estate Advisors of Tucson represented the buyer as well as the seller – Family Housing Resources, Inc., an HUD Approved Housing Counseling Agency – in the negotiations.

    29 May 2015 22:00
  • Hunt Provides Fannie Mae Loan to Refinance Manufactured Housing Community

    Hunt Mortgage Group, a commercial real estate lender has provided a $4.5 million Fannie Mae loan facility to refinance the Terra Vista Manufactured Housing Community, the company announced. The loan was provided to borrower AFK Real Estate Investments, a Delaware limited liability company backed by Angus Keith. It has a 10-year term with 5-years interest only, amortizing over a 30-year period with a 9.5 year yield maintenance period. Florida-based manufactured housing expert Brian Mills brokered the transaction to Hunt.

    27 May 2015 16:03
  • Arizona’s First Fisher House Providing Free Veterans’ Housing Breaks Ground in Tucson

    Leadership from the Southern Arizona VA Health Care System, Fisher House Foundation, government and business leaders, Veteran Service Organizations along with community members celebrated the official ground breaking ceremony of the new Arizona Fisher House. The facility will provide free temporary housing to families of eligible veterans and military service members who are being treated at the Tucson VA or any other medical facility in Tucson.

    18 May 2015 21:33
  • Local Group Buys 22,289 SF Downtown Parking Lot for $1.78M

    A parking lot at the intersection of Broadway Boulevard and Stone Avenue in Tucson changed hands recently. Swain Chapman, Owner and Managing Member of Chapman Management Group sold the property to a team of Tucson-based investors. Art Wadlund of Hendricks & Partners and President Rob Caylor of Robert Caylor Construction Company acquired the 22,289-square-foot asset for $1.78 million, or $80 per square foot, according to Real Estate Daily News. As licensed real estate brokers, bothparties represented themselves in the transaction.

    08 May 2015 22:28
  • Tucson Electric Power Seeking Contractor for Energy Storage Facility

    Tucson Electric Power issued a request for proposals in which it seeks a developer to design and construct a utility-scale energy storage system. The RFP was issued on Friday, April 24 and stipulates that the 10 megawatt facility should be operational by the end of 2016. The future project partner would build and own the asset under a 10-year agreement – TEP provides the site for the project.

    01 May 2015 20:27
  • New KB Home Community Selling in Tucson at Prices from $192,000-$243,000

    A new neighborhood in southeast Tucson, La Cima Esplendora has launched sales recently, as announced by KB Homes.

    23 April 2015 19:31
  • Investor Acquires Triple-Net Leased Gas Station for $4.21M

    Capizzi Family Trust, an investment firm from Downey, California, recently picked up the Circle K store and gas station at 3301 S 6th Avenue in Tucson for $4.21 million or $956 per square foot as a triple net investment. Tatyana Meulemans with Newmark Grubb Knight Frank in Phoenix represented the seller, the Deconcini Family Trust of Tucson.

    17 April 2015 19:13
  • New Retail Center Coming Soon to Southeast Tucson

    Retail options at the Rita Ranch master planned community in Tucson’s southeastern precinct will broaden in the near future as site work has recently begun on a new shopping and restaurant hub. The shopping complex is being built on a 17-acre parcel at the northwest corner of Houghton and Old Vail Roads, across from Houghton Towne Center and approximately 1.5 miles from Interstate 10.

    09 April 2015 22:07
  • Tucson International Airport begins $15M-$20M Terminal Upgrade

    The Tucson Airport Authority has selected Sundt Construction, Inc. as construction manager at risk for a terminal optimization program at the Tucson International Airport. The project is expected to begin in late 2015 and the construction cost is budgeted at $18-23 million.

    27 March 2015 20:47
  • Two Arizona Architects Selected to Design New Banner Health Facility

    Following its merger with the University of Arizona Health Network in late February, Banner Health has tapped two Arizona architecture firms to design its new hospital in Tucson.

    19 March 2015 15:11
  • Church Turns Into Multi-Tenant Retail Development

    The relocation of the Christian Faith Fellowship Church to North Country Club Drive opened up a redevelopment opportunity at the religious organization’s former location at 5601 E. Broadway Boulevard. A local developer under the entity Broadway Festival, LLC picked up the two-acre property and marked it out for a multi-tenant retail project with three freestanding pads, one of which has already secured its first tenant.

    06 March 2015 17:41
  • California Bioscience Firm Opens Diagnostic Lab near Tucson

    By Balazs Szekely, Associate Editor A health diagnostics laboratory is soon to arrive at the Tucson scene. LCMS Laboratories Inc. announced a new commercial lease agreement for an undisclosed amount of space at 10831 N. Mavinee Drive, Suite 105 in Oro Valley. Bob Davis of Rein & Grossoehme Commercial Real Estate represented LCMS Laboratories in [...]

    25 February 2015 23:05
  • The Ritz-Carlton, Dove Mountain receives Five Star Rating

    The Ritz-Carlton, Dove Mountain near Tucson has been named a new Five Star hotel as Forbes Travel Guide recently unveiled its latest Star Rating list. The distinction puts the 850-acre resort among the top luxury destinations worldwide. Two other Arizona properties have also received the Five Star rating this year, The Canyon Suites at The Phoenician in Scottsdale and Kai Restaurant in Chandler.

    21 February 2015 00:11
  • Santé Operations to Build Its First, Acute Care, Facility in Tucson

    Santé Operations has recently announced its plans to construct a new transitional rehabilitation center in Tucson

    13 February 2015 22:52