TUCSON, Arizona — Larsen Baker of Tucson (George Larsen, principal) purchased a 6,894-square-foot retail building located at 7285 E. Tanque Verde Rd. in Tucson, from The Price Group, LLC for $1.194 million ($173 PSF).

The property was formerly a personal training / fitness center, most recently doing business as Marcel’s Total Fitness, that relocated to 7770 E Wrightstown Road. The building was vacant at time of closing and perfect for Larsen Baker’s tenant in tow, Texas-based Neighbors Health System which was ready to lease it for an emergency care center.

Founded in 2008 by a group of emergency room physicians wanting to make lives better for patients by providing them with a more personalized ER experience, NEIGHBORS EMERGENCY CENTER has completely re-imagined emergency care.

Neighbors Emergency Center, an industry leader in freestanding emergency medical care, specializes in personalized ER attention with little wait time and no crowded waiting areas. Neighbors offers an on-site laboratory and imaging services of X-Ray, CT Scans and Ultrasounds. Local board-certified doctors and medical teams with emergency room experience treat all adult and pediatric emergencies.

Besides personalized ER care with short wait times, Neighbors will also bring approximately 30 jobs to the area economy by hiring local board-certified physicians and medical teams with emergency room experience to treat all adult and pediatric emergencies.

Neighbors currently has 29 centers open, with plans for growth extending into 2017 with more centers opening throughout Arizona, Texas and other states. This will be Neighbors first center in Arizona.

“We also know that during these critical times, it is imperative to make the experience as comforting and stress-free as possible,” said Dr. Setul G. Patel, CEO of Neighbors. “This is why we focus on providing compassionate, genuine, respectful, and thoughtful personalized care. Ensuring patient and family satisfaction is a key passion of ours and we make it a priority to not only meet, but exceed patient expectations.”

All companies under the Neighbors Health umbrella are committed to the universal goal of making lives better.

Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller. George Larsen, Andy Seleznov and Melissa Lal with Larsen Baker, LLC, represented the buyer in the transaction.

For more information, Tomlinson can be reached 520.546.2757 and Larsen, Seleznov and Lal can be contacted at 520.296.0200.

To learn more, see RED Comp #4337.

TUCSON, Arizona — The Dinerstein Companies (TDC) purchased a 30,950-square-foot lot for the latest student housing project at the University of Arizona. The property commanded a sale price of $10.2 million ($329.56 PSF) with 26 bidders competing for the site.

Sterling University Housing is a wholly owned subsidiary of TDC, having completed student housing developments at thirty-nine different national universities.  Sterling University Housing has successfully developed sixty-four properties totaling over 36,000-beds in twenty-six states

This next Sterling University project will be located on the current Chase Bank overflow parking lot at the southeast corner of First St. and Tyndall Avenue in the Main Gate Overlay District. The Property will encourage multi-modal transportation by being within walking distance of the University, within 700 feet of two streetcar stops, and by meeting requirements for short- and long-term bike spaces at ground level.

The Project has approval of a 10-story design, with 295,000-square-feet, 149-units and 503-beds, two levels of underground parking for a total of 153 parking spaces and 102 spaces for bike parking. The roof design includes a swimming pool and spa as well as raised garden boxes. Plans also show 3,485-square-feet of retail on the ground floor.

This is buyer’s second student housing project in Tucson. It also constructed and later sold Sterling University Villas as 2550 W Ironwood Hill in Tucson.

Established in 1955, TDC is a family-owned and operated company with offices in Houston, TX and Solana Beach, CA. TDC currently has $1.41 billion in apartment assets under management.

The company is also a leading “green” developer in the country with $1.91 Billion in LEED Silver/Gold apartment product completed or under development.  Recent company awards include USGBC 2015 Green Builder of the Year as well as being named a winner of ‘101 Best and Brightest Companies to Work For’.

The project is to be developed and managed by the Dinerstein Companies Team; Gensler of Austin, TX is Project Architect; Landscape architect, The Planning Center of Tucson; SCA Consulting Engineers of Sugar Land TX, Structural Engineering; Rick Engineering Company of Tucson, Civil Engineering; and Blum Consulting Engineers of Dallas, TX the Mechanical Engineers.

John Ash with CBRE Tucson and Jaclyn Fitts, Director of Student Housing at CBRE in Dallas represented the Seller, JPMorgan Chase Bank, in the transaction.

For more information, Ash should be reached at 520.323.5177 and Fitts can be reached at 214.979.6524.

To learn more, see RED Comp #4341.

TUCSON, Arizona — EJC Properties LLC and 18 Central LLC of Tucson, investment groups formed by Eddy Chernecki, recently sold Pima Professional Plaza at 5700 E Pima Street in Tucson for $2.165 million ($108 PSF).

The medical offices in a campus-style setting were built in 1978, and have nine office spaces in 20,041-square-feet on 2.23 acres. Located minutes from Tucson Medical Center and St. Josesph’s Hospital in the northeast submarket of Tucson, the property was fully leased when it sold to a Gilbert, Arizona Trust.

Aubrey Finkelstein with Vast Real Estate Solutions handled the leasing for the property and Rob Fischrup and Jon O’Shea also with Vast Real Estate Solutions handled the sale transaction.

Dana Elcess, Property Manager with Cushman & Wakefield | Picor will be handling the management for new owner.

Chernecki and Associates then purchased a value-add 53,450-square-foot office complex, Broadway Proper, at 7650-7670 E Broadway Blvd in Tucson for $1.35 million ($25 PSF). The property was almost 50% vacant when it sold located on Broadway near Pantano in eastern Tucson submarket.

Built in 1985, the property consists of six buildings two- and three-stories with an elevator and offices with open air patios overlooking a courtyard, French doors along perimeter, attractive landscaping set in quiet surroundings

The seller, The Arizona State Retirement System was represented by Dave Volk and Bruce Suppes with CBRE in Tucson.

The buyer was represented by Rob Fischrup and Jon O’Shea with Vast Real Estate Solutions.

For more information, Finkelstein, O’Shea and Fischrup can be reached 520.624.9400. Volk and Suppes should be contacted at 520.323.5100.

To learn more, see RED Comp #4220 and #4298.