Tucson *DO NOT USE*
Single-Tenant Office Complex in Tucson’s East Side Sells for $17.8M
A California non-profit group paid $17.85 million for an office complex located near east Speedway and north Kolb Road, on Tucson’s east side. The buyer is the H.N. and Frances C. Berger Foundation, based in Palm Desert.
Campus Acquisitions Tops Up $25M Hi-Rise Near Univ. of Arizona
The $25 million student housing that Chicago-based Campus Acquisitions is developing near the University of Arizona has recently topped out at 14 stories high. Expected to open in late summer of 2013, the 300,000 square-foot upscale project will include 176 units and house about 550 students.
$52M Hospital Project in Green Valley Meets Community Opposition
Green Valley’s first emergency room hospital, about 25 miles south of Tucson, could be blocked due to objections from a homeowners association. In October 2012 news broke that Tucson Medical Center would develop and operate the $52 million hospital and emergency room project with Scottsdale-based McDowell Enterprises.
Aris Integration Picks Tucson for Corporate HQ and Plant
Aris Integration has announced its intention to move its corporate headquarters to Tucson. The Scottsdale-based company plans to build a facility that will manufacture a new type of modular energy-efficient building panel, and hire about 600 people by 2017. Positions at the office will include ones in executive management, sales & marketing, quality control, HR, and manufacturing.
Freeport-McMoRan Buys and Occupies 85,000SF American Airlines Building
Phoenix-based Freeport-McMoRan Copper & Gold, a global mining company, has purchased the American Airlines building in Tucson for $5.2 million. The 85,000-square-foot call center building, located at 3350 E. Valencia Road, was closed in August and has been vacant ever since, reports the Inside Tucson Business.
CareMore Medical to Open Fourth Medical Facility in Tucson
CareMore Medical Enterprises announced plans to open its fourth medical facility in Tucson near the Carondelet Heart & Vascular Institute. The new facility will occupy a vacant retail space at 4881 N. Stone Avenue, a former Cost Plus retail center, according to Inside Tucson Business.
Curacao Opens 85K SF Mega Store in Tucson
Curacao opened its first mega-store in Tucson. The store is the company’s second in Arizona, and it was originally scheduled to open in 2008. The main reason for the delay was the economic crisis, said Rick Hutton, president of Curacao. Nonetheless, Hutton admits that Arizona was always on the expansion list, as quoted by the Inside Tucson Business.
Carondelet Invests $17M to Relocate Heart Institute to St. Mary’s Hospital
Carondelet Health Network plans to relocate its Heart & Vascular Institute to the Carondelet St. Mary’s Hospital campus. In a statement, the company said the first phase of the relocation will be complete by early November. Carondelet will invest about $17 million in the construction of the new facility, which is expected to completed by May 2013.
Ohio Investor Acquires Broadway Plaza for $12.7 Million
The 83,612-square-foot Broadway Plaza retail complex in Tucson was sold to shopping center REIT Philips Edison-Arc for $12.7 million, according to Marcus & Millichap. The real estate investment services firm represented the Ohio-based buyer in this deal.
Walmart Hits Tucson Retail Market with Five New Mega Projects
Walmart has launched three supercenters and two neighborhood stores in Tucson. The retail properties are in various stages of development. The discount retailer has identified Tucson as an area that is underserved when it comes to affordable shopping options, according to Walmart officials quoted in the Arizona Daily Star.