Motel on Tucson’s south side to be converted to apartments | Subscriber

New apartments are being considered at a former Motel 6 on Tucson’s south side that marketed for $6.15 million.

Non-public investors strategy to remodel the home, at 1025 E. Benson Freeway, into a prolonged-expression extended keep and add flats.

“What was interesting is the land and the volume of units,” claimed Jigar “Jay” Desai, senior vice president with NewGen Advisory, who taken care of the sale along with colleagues Dan Rama, Ryan Bodine and Kishan Gohel.

The existing motel has 140 units and a part of all those will be transformed to residences and modified to an impartial brand name.

It sits on additional than 5 acres, up coming to Interstate 10, with a significant parking lot that could aid potential condominium properties, Desai stated.

No timeframe for construction has been declared.

This is the next sale for NewGen of a lodge to be turned into flats. The company also taken care of the sale of the Resort Tucson Metropolis Centre and has three other motels underneath agreement in the Tucson market place.

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Other serious estate transactions in the Tucson place involve:

Funland Raspados and Mr. Beez Vape Emporium have leased the remaining two spaces at Manzanita Plaza, 3000 W. Valencia Road. Funland Raspados, a fast serve raspados and Mexican snack shop, leased 1,780 square feet and Mr. Beez Vape Emporium, promoting digital cigarettes and vape products and solutions, leased 1,480 sq. toes. The landlord, Manzanita Investment decision Team, an affiliate of Larsen Baker was represented by Larsen Baker brokers Isaac Figueroa and Elaina Elliott.

Schnitzer Qualities LLC purchased 140,000 square feet of industrial room at 5120 S. Julian Travel from AZCOMS LLC for $16.3 million. Stephen D. Cohen, Jesse Blum and Alexandra Demeroutis, with Picor, dealt with the sale.

Clark H and Kathryn A. Reed sold the 20-device Sherwood Terrace, 114 E. Mohave Street, for $1.6 million to Nine Doorways Down LLC, Chrislina Prosperity Associates LLC and DJ Lopez LLC. Joseph Chaplik and Adam Dresher, with Joseph Bernard Financial investment Genuine Estate, dealt with the sale.

RR Attributes I LLC purchased 3,997 sq. ft of business office space at 2918 W. Ina Street from BFD Investments LLC for $925,000. Richard M. Kleiner, with Picor, and Paul Blum, with West Usa Realty Inc., represented the vendor.

Best Tucson Holdings LLC bought a 5,709-square-foot creating at 5961-5971 N. Oracle Street, occupied by Leslie’s Pool Materials and OM Yoga, from The Gary and Sandra Palant Rely on for $900,000. Greg Furrier, with Picor, represented the vendor and Jeramy Selling price, with Volk Co., represented the consumer.

Facts for Tucson True Estate is compiled from records at the Pima County Recorder’s Business and from brokers. Deliver details to Gabriela Rico, [email protected]