Gateway at Tucson, an off-campus student housing complex, has been bought by local investors for $12.9 million.
Holualoa Cos. of Tucson bought the property from CW Capital Asset Management LLC of Bethesda, Maryland.
“The Tucson-based buyer was intimately familiar with the asset and general market conditions in Tucson,” said Jim Crews, with Cushman & Wakefield’s Phoenix office, who represented the seller. “They saw the outstanding long-term investment potential of this lender-owned asset.”
Located at 2800 W. Broadway, Gateway has 188 units and 552 bedrooms for rent in one-, two-, three- and four-bedroom models. It was built in 2005.
Amenities include a pool, spa, fitness center and shuttle service to University of Arizona and Pima Community College campuses.
Other recent commercial transactions include:
- AECOM leased 7,004 square feet at 333 E. Wetmore Road. Phil Skillings and Andrew Sternberg, with NAI Horizon, represented the landlord, and Rick Kleiner, with Picor, represented the tenant.
- San Plumbing Supply Inc. leased 4,800 square feet at 1121 W. Grant Road from Sloat Family Partnership LLLP. Stephen D. Cohen and Russell W. Hall, with Picor, represented the landlord.
- Realty ONE Group Integrity leased 3,750 square feet at 7440 N. Oracle Road from RIW LLC. Rob Tomlinson, with Picor, represented the tenant, and Jon O’Shea, with Vast Commercial Real Estate Solutions, represented the landlord.
- Le Buzz Caffe leased 3,000 square feet to build a restaurant at Plaza Palomino, 2930 N. Swan Road. Phil Skillings, Ben Craney and Andrew Sternberg, with NAI Horizon, represented the landlord.
- Dust Architects PLC leased 1,930 square feet at 1046 S. Euclid Ave. from Rich Rodgers South Inc. Max Fisher, with Picor, handled the transaction.
- Fit 4Life Nutrition leased 1,125 square feet at 194 W. Fort Lowell Road from R. Legacy Trust. Roxanne Harding, with Picor, handled the transaction.