March was a more robust month for the local residential real estate market, with marked month-to-month increases in total sales volume and unit sales.
The latest report from the Tucson Association of Realtors Multiple Listing Service shows that March finished with 1,131 unit sales accounting for $226.7 million. In February, these figures were 961 and $188.9 million, respectively.
Activity did slow year-to-year: March 2013 sales volume was $255 million for 1,329 unit sales. However, the median sales price did increase in that span, from $150,050 to $162,000.
And as the recovery scoots along, so does the inventory. Last month saw 5,705 active and 2,126 new listings hit the market. While these are close to February’s numbers, there was less to pick from this time a year ago, with 4,210 active and 1,931 new listings.
SALES & LEASES
MJ Equity Investments, LLC and Ozam Investments, LLC purchased an 8,124 square-foot industrial building at 2401 S. 34th Place from Metro Realty Advisors, LLC for $242,500. Brandon Rodgers, CCIM, with Cushman & Wakefield | PICOR handled the transaction.
Springs Gymnastics Cheer & Dance, LLC purchased the 11,200 square-foot building at 9694 E. Rita Commerce Drive, where it had been a tenant, from Old Vail Properties for $1 million. Springs owner David Painter, also a real estate agent with Realty Executives of Tucson, represented himself in the transaction. The seller was also self-represented.
Arizona Auto Savings leased 990 square feet in Placita del Norte at 5823 N. Oracle Road from CAS Real Property, LP. Greg Furrier with Cushman & Wakefield | PICOR represented the landlord.
Bert Layne Jewelers leased space at 5618 E. Broadway Blvd. from Broadway-Craycroft, LLC. Greg Furrier with Cushman & Wakefield | PICOR represented the landlord.
Planet Smoothie leased 1,000 square feet at 345 E. Congress St. from Tucson Properties 1, LLC. Aaron LaPrise with Cushman & Wakefield | PICOR represented the tenant.
SD Media leased 1,440 square feet at 1870 W. Prince Road, #8 from Presson Corporation. Rob Glaser, SIOR, CCIM, and Paul Hooker, both with Cushman & Wakefield | PICOR, handled the transaction.
Filter Products Corporation leased 12,083 square feet at 2155 N. Forbes Blvd., #101 from Forbes Tucson, LLC. Rob Glaser, SIOR, CCIM, with Cushman & Wakefield | PICOR represented the landlord. Tim Healy with CBRE represented the tenant.
Taco Tote leased 4,380 square feet at 1340 N. Wilmot Road from 1340 N. Wilmot Rd, LLC. Greg Furrier with Cushman & Wakefield | PICOR represented the landlord.
The following businesses leased space from Presson Midway, LLC:
• Raymond and Carissa Ramirez dba Power of Touch Massage leased 958 square feet at 4500 E. Speedway Blvd., #42A
• Always Open and Shut Garage Door Service, LLC leased 1,200 square feet at 4500 E. Speedway Blvd., #95
• Lonely Street Productions leased 1,600 square feet at 4500 E. Speedway Blvd., #13
Rob Glaser, SIOR, CCIM, and Paul Hooker, both with Cushman & Wakefield | PICOR, handled these transactions.
CBIZ Benefits & Insurance Service, Inc. leased the following spaces:
• 9,231 square feet at 1765 E. Skyline Drive, Building #1 from United Insurance Company of America
• 1,930 square feet at 1765 E. Skyline Drive, Building #2 from Prymelight Holdings, LLC
Tom Knox, SIOR, with Cushman & Wakefield | PICOR represented the tenant and James Hardman with DESCO Group represented both landlords.
If you have real estate or construction news, contact Hillary Davis at 295-4254 or hdavis@azbiz.com