Four former motels along Benson Highway have been sold to investors and converted to furnished apartments for rent.
The Tucson 55 Portfolio was sold for $1.3 million.
The motels were built between 1948 and 1976 and the rooms have an average size of 531 square feet.
They will be available for rent month-to-month, including utilities.
“The Tucson 55 portfolio features well-maintained assets located along Tucson’s heavily trafficked Benson Highway,” said Lance Parsons, Senior Vice President at ABI Multifamily, who represented both parties. “Additionally, the properties are less than a few miles from the University of Arizona, downtown Tucson and the airport.”
Both buyer and seller are Arizona-based private multifamily investors.
Other recent commercial transactions include:
- Arizona Minerals Inc. leased 14,500 square feet at 2210 E. Fort Lowell Road from Cachita LLC. Rick Kleiner, with Picor, represented the landlord, and Picor’s Isaac Figueroa represented the tenant.
- All Metals LLC leased 5,699 square feet at 420 E. Aviation Drive from 420 Aviation LLC. Brandon Rodgers, with Picor, handled the transaction.
- Elite Community Services LLC leased 3,605 square feet at 2030 N. Forbes Blvd. from M.A.O.R.I. LLC. Jeff Zellet, with Picor, handled the transaction.
- U&I Utility & Industrial LLC leased 1,680 square feet at 1100 E. Ajo Way from 15100 Family LP. Isaac Figueroa, with Picor, represented the tenant, and Picor’s industrial team, Russell W. Hall, Stephen D. Cohen and Kelly Fickle, represented the landlord.
- Casas D’Amore Family Care LLC leased 1,555 square feet from Giaconda 205 Partners LLC at 215 and 223 W. Giaconda Way. Tom Nieman, with Picor, represented the landlord.
- Arizona Wine Collective, a new wine bar in Tucson that focuses solely on Arizona wines, leased 1,314 square feet from SPP Investments LLC at 4280 N. Campbell Ave. Aaron LaPrise, with Picor, represented the tenant.
- Arizona Snake Fence LLC leased 1,200 square feet at 2555 N. Coyote Drive from Legacy Business Properties LLC. Max Fisher, with Picor, represented the tenant.
- Great Clips leased 1,020 square feet from Brentwood Developments Inc. in the Houghton Marketplace, on the northeast corner of Houghton Road and 22nd Street. Aaron LaPrise, with Picor represented the tenant, and Craig Finfrock, with Commercial Retail Advisors, represented the landlord.
- Infusion Health PLLC leased 1,050 square feet at 622 N. Country Club Road from Siegmund Properties LLC. Isaac Figueroa, with Picor, represented the landlord.