TUCSON, Arizona — Kenneth Swanson, Inc., a family trust, purchased a 7,152-square-foot Medical Office Investment Property at 4582 N. 1^st Avenue, from Southern Arizona Land Ventures, LLC in a sale leaseback transaction for $1.838 million ($256 PSF).

The property will continue to be occupied by The Pain Institute of Southern Arizona (PISA) that has been at this property since 2004, where it expanded from one to four condominiums occupied in the Rillito Business Park.

PISA is dedicated to the evaluation, diagnosis, and treatment of pain. Finding the cause and effectively treating pain is its primary goal. Physicians work with patient and primary care doctor to design a treatment plan to decrease pain and increase the patient’s level of function.

Its other office is at 4881 E. Grant Road in Tucson, at Grant and Swan.

Andrew D. Sternberg and Robert J. Nolan of Oxford Realty Advisors in Tucson represented the buyer and Mark Irvin, CCIM, SIOR, of Mark Irvin Commercial Real Estate Services of Tucson represented the seller in the transaction.

For more information, Sternberg and Nolan can be reached at 520.232.0200 and Irvin should be contacted at 520.620.1833.

To learn more, see RED Comp #4319.

TUCSON, ARIZONA – Riderjak Properties, LP (Les Boynton, manager) purchased Vista Palmilla Apartments located at 3828 E. Fort Lowell Rd. in Tucson, from Dunn Family Trust for $1.7 million ($29,825 per unit). Community amenities include gated pool, self-service laundry, high speed internet, air conditioning and barbecue area.

Built in 1985 with 2 stories and 57-units is 70% Junior one-bedrooms and 30% two-bedroom units. The property was 92 percent occupied at time of sale.

The acquisition will become part of the Second Chance Rental network, an innovative alternative housing provider that Boynton created and is expanding in Tucson since 2015, with nine properties owned and 16 managed in Tucson. The Second Chance Rental program has property management and information management systems that benefit tenants as its core business model and philosophy. The program continues to expand for the benefit of those who seek alternative rental housing, to the benefit of landlords who see a 98 percent collection rate and 100% occupancy with a tenant waiting list.

The company, Second Chance Rentals is a self-funded 501(c) 3, that owns and manages 900 units statewide in small apartment complexes of 20 – 50 units, Boynton told us. The company boasts an 85-90 percent success rate of its tenants.

Boynton’s plan is simple, he says, “We hope to make Tucson ‘The Best It Can Be’ in the marketplace by helping those less fortunate achieve ‘housing first’, change mindsets through giving hope, and create different outsets for their future.” If Tucson can solve the homeless problem, it will become a model for other communities to follow.

Per the company website, 4000 to 7000 individuals and families are evicted from their Phoenix & Tucson homes every month!  Thousands more are denied access to housing due to felony arrest records or financial difficulties.

“Our innovative and time-tested systems open closed doors for these individuals and families denied an apartment because of personal history or inability to meet rigid credit qualifications,” said Boynton.  Since 2003, Second Chance Rentals have been giving people the opportunity to turn their lives around.

The company is interested in acquiring and / or managing more properties in the Tucson area.

Allan Mendelsberg, Investment Specialist with Cushman & Wakefield | PICOR, represented the buyer and seller in this transaction and continues to represent Second Chance Rentals in Tucson.

For more information, Mendelsberg can be reached at 520.546.2721 or for more information on Second Chance go to https://www.my2ndchancerental.com/

To learn more, see RED Comp #4306.

TUCSON, Arizona — Mister Car Wash, based in Tucson Arizona, has acquired five more car washes, four in Tucson and one in Sierra Vista, in keeping with the company’s growth by acquisition strategy. Mister Car Wash now operates 201 car washes and 34 express lubes in 19 states and has acquired an additional building for office expansion in downtown Tucson.

The five car washes commanded a combined sale price of approximately $10 million at these locations:

• 1435 W River Rd, Tucson, AZ · (520) 293-1359
• 3150 E Grant Rd, Tucson, AZ · (520) 881-1486
• 6301 E 22nd St, Tucson, AZ · (520) 745-5003
• 5075 S Midvale Park Rd, Tucson, AZ
• 3850 Martin Luther King Jr, Sierra Vista, AZ

Headquartered in Tucson, Mister Car Wash also purchased a retail / office building at 415-421 N 6^th Avenue for $2.1 million ($84 PSF) for office expansion. The company’s current headquarters located a few blocks away at 222 E 5^th Street was acquired in November 2013. Mister moved in there six month later and will soon occupy both downtown locations.

The building on 6th Avenue sold by Dewitt Designs of Tucson represents an additional 25,000-square-feet of office space for Mister, with a mezzanine and basement. It was built in 1954 on a .7-acre lot.

“In one and a half years, the company has already outgrown its downtown headquarters and needs more space,” said Felipe Valenzuela, Director of Business Operations at Mister Car Wash. “It’s amazing for me to watch the growth Mister Car Wash has experienced in the past two years and all the talented people the company attracts.”  Current employees number  approximately 7,000.

Mister Car Wash (John Lai, CEO) moved downtown from a Foothills address one and a half years ago hoping to draw on the dynamic area’s energy and amenities. The company was operating 6 car washes in the Tucson market when it moved, and with today’s acquisition of five more Arizona Auto Spas, Mister’s total store count increased to 15 in the Tucson area.

Buzz Isaacson with CBRE in Tucson represented Mister in the purchase of the new office building.

Mister Car Wash (www.mistercarwash.com) is an operating company of Leonard Green & Partners L.P. (www.leonardgreen.com) one of the nation’s preeminent private equity firms with over $15 billion of private equity capital raised since inception. Based in Los Angeles, CA, Leonard Green invests in established companies that are leaders in their markets.

Mister will continue to look for acquisitions to expand their presence in existing markets and bring a diversified set of service delivery models to customers and Unlimited Wash Club® members.

For information about services and opportunities with Mister Car Wash, please visit www.mistercarwash.com. For more information Isaacson can also be reached at 520.323.5151.

To learn more, see RED Comps #4309, #4310, #4311, #4312 and #4313.