Anderson tells GlobeSt.com that Tierra Catalina received 15offers during its time on the market. "Con Am sold the complex totake advantage of the condo mania that is going on in Tucson," hesays. Demand for apartment assets that lend themselves to condoconversions is so strong that the sale of Tierra Catalina set a newrecord for Tucson in terms of price per door--$123,000.

CBRE's Sean Cunningham in the Phoenix office teamed up with MikeSandahl and Mike Chapman of CBRE's Tucson office to assistAnderson.

Located in the Catalina Foothills at 3201 E. Skyline Dr., TierraCatalina is in an "irreplaceable infill location," Anderson says.It boasts large townhouse-style units whose the average size is1,172 sf, with views of the Foothills. "Tierra Catalina is idealfor conversion. It's a nice size complex in the foothills withinwalking distance to the new mall. It's a real upscalelocation."