Rapid growth in Tucson’s southeast submarket has prompted investors to buy a swath of land along Interstate 10 for future development.
RMG Vail II LLC bought about 400 acres with over a mile of frontage near Highway 83 for $475,000.
The property’s current zoning allows for industrial or commercial development and up to 200 acres of residential use. The property is about 30 miles from the proposed Rosemont Mine site and could also be developed with support services once the mine is operating, brokers say.
The site, known as The Passages of Tucson, was once planned as a mixed-use project by a developer from Minnesota, but never came to fruition.
The new buyer was represented by Randy Emerson, of GRE Partners LLC.
Other recent transactions include:
- Casa del Norte Apartments, an 84-unit complex at 3802 N. Flowing Wells Road, sold for $3.9 million. Ryan Kippes, with ABI Multifamily, represented the buyers, investors from Oregon, California and Arizona, along with the seller, a California investor.
- 20 Leonora LLC bought Broadway Apartments, a 49-unit complex at 20 N. Leonora Ave., for $2.7 million. Joseph Chaplik, with Joseph Bernard Investment Real Estate, represented the buyer and seller, Sammy Management Services Inc.
- DLP Miramonte Investments LLC bought Miramonte Apartments, a 33-unit complex at 716,770 and 780 N. Dodge Blvd., for $1.7 million from JMY Properties II LLC. The buyer was represented by Joe Boyle and Joseph Chaplik, with Joseph Bernard Investment Real Estate.
- Silverbell Cortaro LLC bought 66,477 square feet of land at 7870 N. Leilani Lane, just north of the Cortaro and Silverbell roads, for $426,782. Debbie Heslop, with Volk Co., represented the buyer.
- Dogtopia leased 6,894 square feet in Colonia Verde Plaza, near Tanque Verde and Sabino Canyon roads. Andy Seleznov and Melissa Lal, with Larsen Baker, represented the landlord, and Frank Arrota, of Tucson Realty & Trust, represented the tenant.
- Manuel Ramos, doing business as Manny’s Barber Shop, leased 1,200 square feet at 9430 E. Golf Links Road from D and D Properties Group Management LLC. Jeramy Price, of Volk Co., represented the landlord.
- Creative Vapor LLC leased 1,080 square feet at 1985 W. Valencia Road from Steamroller LLC. Jeramy Price, Kevin Volk, and Brenna Lacey, of Volk Co., represented the landlord.
- Opulence Salon LLC, leased 1,050 square feet at Sabino Canyon Plaza, 4955 N. Sabino Canyon Road. Gordon Wagner and Dave Dutson, with NAI Horizon, represented the landlord.