Transwestern Brokers $25M Land Sale in Tucson for University of Arizona Student Housing Development
Transwestern has brokered the $25 million sale of a 2.5-acre land site at 1815 E. Speedway Boulevard in Tucson, Arizona, with plans to develop a student dormitory in partnership with the University of Arizona.
Transwestern Executive Managing Partner Jim Fijan and Director Jack Fijan represented the sellers — Triple SSS, LLC and Palm Shadows, LLC — in the deal. The existing Palm Shadows apartment complex on the site is slated for demolition to make way for the new development.
Student Housing Development
Mortensen Development, Inc. served as the buyer in the land acquisition. The project carries an estimated development cost of $250 million and is designed to house more than 1,200 students across 19 stories, with a dining hall and additional amenities included in the program. The Collegiate Housing Foundation is identified as a partner and will collaborate with the University of Arizona on the development project.
The project is expected to be ready for fall 2028 move-in.
Transaction Participants
The sellers, Triple SSS, LLC and Palm Shadows, LLC, were represented by Jim Fijan and Jack Fijan of Transwestern. Mortensen Development, Inc. served as the buyer in the land acquisition. The Collegiate Housing Foundation is identified as a partner and will work with the University of Arizona on the development project.
The deal adds to Transwestern's land services activity in the Southwest.