Tucson Authentic Estate: 2 downtown apartment complexes sell for $20.4M | Enterprise News
Herbert Household and adjacent Armory Park Villas, in downtown Tucson, have sold for $20.4 million.
Holualoa Cos. and companion Peach Properties bought the 144-device Herbert and 9-device Armory complexes in 2012.
Herbert, 202 E. 12th St., was designed in 1974 for senior housing and right after citizens relocated to a new facility, it was acquired and underwent substantial renovations.
“We are very happy with the outcomes we noticed from Herbert Residential given that we redeveloped the residence, and it is gratifying to be equipped to shut our involvement with a advantageous transaction for both equally purchaser and seller,” mentioned Lani Baker, chief financial officer of Holualoa Businesses. “Herbert Household has emerged as a legitimate spot living natural environment for Tucson people, and we’re confident the new ownership will proceed to take pleasure in the benefits of such a higher-profile project.”
The customer is Second Tucson Ventures LLC.
Each qualities are found in the Armory Park community.
Art Wadlund and Clint Wadlund, with Berkadia, have been the brokers on the sale.
Other recent business transactions involve:
- Oracle & Magee LLC bought component of the Entrada del Oro shopping middle at 7861 N. Oracle Street from The Wright-Pantano LLC for $4.2 million. Rick Borane and Terry Dahlstrom, with Volk Co., managed the sale.
- Estrada Cosmetic Enterprise LLC acquired retail area at 860 E. 19th St. and 922 and 924 S. Tyndall Ave. from Fourteenth Street LLC for $900,000. Joey Castillo and Kevin Volk, with Volk Co., represented the purchaser. Pat Welchert, of Alpha Commercial Authentic Estate Services, represented the vendor.
- Vault at Houghton Street LLC purchased 10.4 acres of land at the southeast corner of Golfing One-way links and Houghton streets from Tucson Electric powered Energy Co. for $690,000. Denise Nunez and Victoria Filice, with NAI Horizon, represented the purchaser. The vendor was represented by Brandon Rodgers and Molly Gilbert, with Picor.
- Battery Techniques Inc. leased 12,687 square ft at Keenan Commerce Heart, 2800 N. Flowing Wells Highway, from Keenan Financial commitment Corporation LLC. The transaction was managed by Gary Emerson, of GRE Associates LLC.
- Oleksii Lytvyn LLC, undertaking small business as Intercontinental Ballroom, leased 3,000 square toes in Plaza Sonora, 2840 W. Ina Highway. Ben Craney and Sam Nalli, with NAI Horizon, dealt with the lease.
- Taco Giro leased 1,750 square toes at 13160 E. Colossal Cave Street from Vail Station and Birch Bay LLC. Craig Finfrock, with Business Retail Advisors, represented the landlord.
Details for Tucson Genuine Estate is compiled from information at the Pima County Recorder’s Office and from brokers. Ship information to Gabriela Rico, [email protected].