930 E. Broadway
930 E. Broadway Blvd., Tucson, AZ 85719, United States
UPDATES

WEBSITE UPDATES
 

August 8, 2018 Update 
  • Mayor and Council accepted offer from Mary + Martha/Welcome Hospitality.
 
July 30, 2018 Update 
  • Preliminary Survey replaced with Record of Survey drawings under "Due Diligence" section.

June 27, 2018 Update
  • Offering Memorandum Section 5, "Selection," updated and expanded. 
  • Section added under "Overview" Section, "Mayor & Council Direction Regarding Sale of Broadway Volvo" (February 21, 2018).
June 23, 2018 Update
  • Wording has been added to the Offering Memorandum section 16 explaining the submittal need only be one hard copy but bidders should be prepared to provide a digital copy if requested at a later date. 
May 24, 2018 Updates 
  • Opportunity Zone - reference added under "Overview" and website link added to "Links." 
May 15, 2018 Updates 
  • Street names corrected on aerials 
  • Appraisal Report added
  • Asbestos and Lead Survey added
  • Preliminary Survey - Location of Culvert added 
THE OFFERING

 
THE OFFERING 

At the direction of the City of Tucson, Arizona ("City"), CBRE, Inc. is hereby inviting offers to purchase 930-948 E Broadway Boulevard & 935 E 12th Street. The site is essentially flat, totaling +/- 1.86 acres (per Assessor) at the southwest corner of Broadway Boulevard and Park Avenue (collectively, the “Property”).  The Property was formerly a Volvo dealership.  It is expected the winning bidder will join with the City to complete a Planned Area Development rezoning currently underway, prior to close of escrow.  Information on the Property may be found under the tabs at the top of this page.  Instructions on how to submit an offer and the forms to do so (in fillable PDF format) are under the Offering Documents tab. 
 
DEADLINE FOR OFFERS IS THURSDAY, June 28, 2018 @ 4:00 p.m. Local Time. (CLOSED)
 
WEBSITE LAST UPDATED: AUGUST 9, 2018
 
OVERVIEW

 
THE PROPERTY
 


The offering is an assemblage of  land parcels (depicted on above aerial), essentially flat, in the City of Tucson totaling +/- 1.86 acres (per Assessor) at the southwest corner of Broadway Boulevard and Park Avenue (collectively, the “Property”).  There are 9 legal parcels as described in the Legal Descriptions to be found in the Due Diligence section.  Over time, through splits and combinations, the Assessor has reduced the tax parcels to 7.  These parcels are all within Pima County Assessor Block 124-07, specifically:

001A
0020
2060
2070
211B
218A
2170
 
At the current time, McKey Street separates 218A and 2170 from the other parcels.  However, the winning bidder may request a vacation and sale of the right of way to create a single contiguous parcel of +/- 2.0 acres.  The City will deliver the Property with vacant possession at close of escrow. 

Improvements consist of a former single story car dealership with showroom, sales office, repair facilities and ancillary storage areas totaling +/- 19,000 sf.  The buildings are of varying age, the oldest (948 E Broadway) was built in 1945 and the rest were constructed in the 1960’s, ‘70’s and 80’s. The City expects the Property to be redeveloped. 

The primary USPS address is 930 E Broadway Boulevard, Tucson, AZ 85719. 

Arroyo Chico runs through a concrete culvert system beneath the front portion of the Property, identified on the Survey to be found under the Due Diligence tab at the website.

The 5 assessor parcels that constitute the main parcel fronting Broadway are in the Rio Nuevo Tax Increment Financing District.  The entire Property is within the City of Tucson Government Property Lease Excise Tax (GPLET) Incentive Area.  The Property is also within one of the designated areas in Arizona that qualify for the federal Opportunity Zone program (a link to information from the Arizona Commerce Authority may be found under the Links tab).  At this time, none of the Property is expected to be needed or taken for the proposed Broadway Improvement project.
 
MAYOR & COUNCIL DIRECTION REGARDING 
SALE OF BROADWAY VOLVO 

 
It was MOVED by Council Member Fimbres, duly seconded, to direct the City Manager to proceed as discussed in Executive Session, and prepare a solicitation that invites proposals for the purchase and redevelopment of the property. That solicitation will require that proposals satisfy certain conditions, including a minimum purchase price based on appraised value, as well as to include conditions relating to future redevelopment that track the goals that have been identified through the public process that has already occurred, including the feedback from the Barrio San Antonio and Miles neighborhoods and the 2014 charrettes that were conducted. The conditions will include prohibition of incompatible uses, such as high-density student housing, convenience store with gasoline sales, large retail establishments, billboards, and auto repair.
 
The solicitation will advise the proponents that purchase price will be a factor in the evaluation, but the award will be based upon the proposal’s overall benefits to the City, and compatibility with the goals as stated. Those goals would include transit-oriented, or mixed-use development; development that is aesthetically compatible and in scale with surrounding development and neighborhoods; ongoing coordination with the neighborhood liaisons, including Barrio San Antonio and Miles neighborhoods; how the proposal will deal with neighborhood concerns over property maintenance, excessive noise, construction activity, and other public nuisances; how the proposal will provide street-level amenities, and encourage pedestrian activity; and identifying parking strategies that encourage shared-parking in existing or new parking lots or structures at or near the site.
 
Michael Rankin, City Attorney, confirmed that, pursuant to the direction from Mayor and Council, the solicitation would factor in all input received to date as part of the public process, and would advise the proponents that zoning would be accomplished through a Planned Area Development (PAD) subject to Mayor and Council approval and any conditions in the PAD. He said he expected that any proposal would make closing on the purchase of the property contingent on the finalization of the rezoning. 

The motion was CARRIED by a voice vote of 7 to 0.

PROPERTY ZONING
 
The current zoning is to be replaced by a Planned Area Development (“PAD”) to be established jointly by the winning bidder and the City.  The City has developed proposed PAD rezoning standards, held multiple stakeholder and public meetings, and undergone initial pre-PAD reviews by Planning & Development Services staff.  The City will join with the winning bidder to jointly submit the PAD through the remaining steps of the rezoning application process.  The status of the PAD at this juncture may be reviewed at the below website:

https://www.tucsonaz.gov/business/broadway-volvo-site
 
Contact personnel in he City of Tucson Department of Transportation for the PAD rezoning are: 

Jenn Toothaker 520.837.6648 jennifer.toothaker@tucsonaz.gov &/or
Tom Fisher 520.837.6752 tom.fisher@tucsonaz.gov

PROHIBITED USES
  • high density student housing/group dwelling
  • convenience store with gasoline sales
  • large retail establishments (defined as larger than 100,000 square feet)
  • billboards
  • automotive 
SELECTION OF WINNING BIDDER
 
Submissions will be evaluated by a real estate committee of the City who will make recommendations to the City Manager and to Mayor and Council.  Those responses that offer the greatest overall benefit to the City will be favored.  Factors the committee will consider are:
 
  • Price – the minimum offer price for consideration shall be the appraised value of the Property.
  • Qualifications of bidder, including relevant experience and financial wherewithal to undertake the re-development of the Property.
  • Preference will be given for transit oriented or mixed-use development. 
  • Aesthetically compatible design is desired, in scale with the surrounding development and neighborhoods.  
  • Willingness of bidder to coordinate with Neighborhood Liaisons of the adjacent registered neighborhoods, Barrio San Antonio and Miles.  
  • Demonstration of willingness to address neighborhood concerns regarding property maintenance, excessive noise, construction activity and other potential public nuisances.
  • Demonstration of commitment to ongoing, active coordination with Neighborhood Liaisons, including Barrio San Antonio and Miles neighborhoods, throughout the rezoning process and subsequent redevelopment of the Property.
  • Inclusion of street-level amenities and encouragement of pedestrian activity; and 
  • Use of parking strategies that encourage shared parking in existing and new parking lots or structures at or near the Property. 
 
AERIALS

LOCATION OVERVIEW
 
 

© 2018 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not be verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited. 
 
930 E. Broadway Blvd., Tucson, AZ 85719, United States


Ian Stuart
Ian.Stuart@cbre.com
Vice President
CBRE
+1 520 323 5180