Cushman & Wakefield | PICOR Report Continued High Investment Activity in Central Tucson

One of the top sales near month’s end at Cushman & Wakefield | PICOR was of Vine Apartments, an 8-unit investment property located just south of the University of Arizona campus. C&W | PICOR Multifamily Specialists Allan Mendelsberg, Principal, and Joey Martinez represented both parties in this transaction. The top lease was of an 8,000-square-foot industrial property at 2055 E 17th St, located in Central Tucson, where Industrial Specialist Paul Hooker, SIOR, Principal, represented the landlord in this transaction.

C&W | PICOR recently sold Vine Apartments for $1,425,000, $96,667 per bed, and $215.71 per square foot. Mendelsberg and Martinez represented both parties in this transaction. Vine Tucson purchased this 8-unit apartment property from BRAD Land Investors, LLC / The Martin and Stacey Cohan Revocable Trust. Built in 2002 at 315-317 North Vine Ave., the complex features a mix of one bedroom, two bedroom/one bath and two bedroom/two bath units. It is ideally located for student housing, as it is within walking distance of UArizona. It includes air-conditioned units, dishwashers, walk-in closets, an on-site laundry facility and spacious floor plans.

Another top lease was an industrial property at 2055 E. 17th St., where Hooker represented the landlord in this transaction. This property is in Central Tucson, near  UArizona, Downtown Tucson and SR SR-210/Barraza-Aviation Parkway, Tucson’s only crosstown expressway. The building is 8,000 square feet and sits on a site area of 15,925 square feet. The recently remodeled office buildout features a fenced and paved yard area leased by Livestream Shopping, Inc.