At the halfway point for the year, housing volume, units sold, average sales price, pending contracts and new listings were all up month-to-month. Also on the positive for clearing out excess inventory, the number of active listings also dropped.
There were 1,139 homes sold in June according to Multiple Listing Service data. This is up more than 11 percent from 1,024 in May. It’s also a 6.5 percent increase over June 2008 – the first month of a year-over-year increase this year. Total sales volume was up 14.6 percent in June over May.
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The average sales price was up 3 percent to $208,952 in June from $202,747 in May.
“With the first six months behind us we can take a realistic view of the absorption of inventory which has moved in a positive direction since January with June bumping that number up to 22.9 percent,” said Tucson Association of Realtors MLS President Kimberly Clifton. “We still have a long way to go but the numbers show a positive sign.
Median sales price for June dropped less than 3 percent to finish June at $165,000 down from $169,900 in May. There 1,892 new listing added in June, an 11 percent increase over 1,704 new listings in May. Active listings in June totaled 6,261 in June, down nearly 4 percent from 6,506 in May and down 23 percent from a year ago.
“We are looking forward to the second half of 2009 with high hopes of the continued trend of recovery,” Clifton said.
Carondelet in Sahuarita
It’s not a hospital yet, but Carondelet Health Network in collaboration with Rancho Sahuarita Commercial Ventures is bringing a Carondelet Medical Group office to Sahuarita.
Construction on the facility is set to begin this month. The project is scheduled for completion in the fall. It will be a 4,000 square foot facility located in the Sahuarita Marketplace shopping center.
The outpatient medical group office will serve as home for two family practice physicians, one pediatrician and urgent care physicians. These doctors and their staffs will offer a wide variety of services to the residents of Sahuarita, including: same-day appointments; well-child and well-woman visits; adult, sports and school physicals; immunizations; minor office procedures; lab draws and even urgent care services.
“Carondelet Medical Group knows how important additional medical offices and physician practices are to the growing town of Sahuarita,” stated Walter Davis, CEO of Carondelet Medical Group. “Our doctors feel a responsibility to be easily accessible to the residents and families in this ever-expanding area of Southern Arizona.”
Carondelet has also announced plans to build a hospital in Sahuarita but has put those plans on hold.
Tucson College relocates
Delta Education has leased the ground floor of 5151 E. Broadway office tower to relocate its Tucson College, a technical-trade college. The college is relocating from 7302 E. 22nd St. and will occupy more than 30,000 square feet.
“We’re planning to bring some new program offerings with the larger space,” said Danielle Apple with Delta Educational.
The landlord is currently doing some exterior work before Tucson College begins its tenant improvements. Apple said the college hopes to occupy the space by the end of September. Phil Skillings and Dave Montijo with Bourn Partners represented the landlord. Tucson College was represented by Terry Mostrom of Studley, based in Chicago.
Logistics provider picks site
Highland Valley Partners LLC leased 49,000 square feet in the Medina Business Park, 2201 E. Medina Road, from Intercontinental Real Estate Corporation. The company provides third party management and logistics services for materials and production supplies.
“A lot of companies who do not have the resources to manage their own materials or pay for long term space,” said Mark McArthur, president of Highland Valley Partners. “Providing logistics management is not a new concept, but is one that our company recently found a need for in Southern Arizona.”
Scott Soelter with Grubb & Ellis represented the tenant. Robert Davis, William DiVito and Howard Kong represented the landlord.
Koberlein elected to
MLS board
Long Companies President and CEO Rosey Koberlein is the new vice president of the Tucson Association of Realtors Multiple Listing Service’s board of directors. She was elected to the seat after Wes Wiggins left the seat vacant. She serves with fellow board members: Kimberly Clifton, president; Joy Thieman, treasurer; directors Jim Adams, Suc Cartun Greg Hollman, Jill Knox, John Mijac, Dan Santa Maria and Vince Volpe.
Worth noting
• Bear Creek Investments II LLC purchased a 7,000 square foot building at 5390 E. Erickson Drive from Tucson Properties Corporation for $800,000. The group plans to move its medical practice into the location. Rick Borane of Volk Company Commercial Real Estate represented the seller. David Montijo and Rebecca Stauber of Bourn Partners represented the buyer.
• Repp Design and Construction purchased a 4,500-square-foot building at 2502 N. First Ave. for $560,000. Repp plans to renovate the building for its offices and will design it to LEED certified standards. Rick Borane of Volk Company Commercial Real Estate handled the transaction.
• Blue Dress LLC, doing business as Twice As Nice, signed a 10-year lease for 9,000 square feet at 4155 W. Ina Road, Marana. The clothing store will be the anchor retailer at Regency Plaza when it opens this month. Rick Borane of Volk Company Commercial Real Estate handled the transaction.
• Enterprise Rent A Car leased a 1,200 square foot space from Capin Family Trust at Capin Plaza, 8195 N. Oracle Road, Suite 105, Oro Valley. Commercial Retail Advisors represented the Capin Family Trust.
• Reveal Hair Salon has leased 1,069 square feet at 6370 N. Campbell Ave., Suite 140, in Paloma Village from D. Wong & Associates-Arizona L.L.C. David Hammack of Volk Company Commercial Real Estate handled the transaction.
• Appaloosa in the Woods leased 1,011 square feet of space at 2930 N. Swan Road in Plaza Palomino from New Rudasill La Cholla LLC. Amanda Signori of Bourn Partners represented the landlord and tenant.
• Cold Stone Creamery leased 650 square feet from General Growth Properties at Park Place Mall, 5870 E. Broadway, Suite 3002. It’s part of an out-parcel building that also includes an Applebee’s, Chipotle Mexican Grill and Red Lobster. Commercial Retail Advisors represented the tenant.
• Foot Reflexology leased 626 square feet at 8250 N. Cortaro Road, Suite 130, in Buena Vista Plaza, Marana, from Vail Building Arts Association LTD. David Hammack of Volk Company Commercial Real Estate represented the landlord.
E-mail items for this column to jpangburn@azbiz.com. Real Estate and Construction appears weekly.
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