Burger King at 1960 W River Road sold with three other Arizona Buger Kings in a bulk sale. The Tucson store sold with stores in Prescott Valley, Gilbert and Camp Verde, AZ for an aggregate total of $5.45 million, and a 6% cap rate. Burger King will continue to occupy the restaurants.
Public records show the price for the Tucson store at $1,533,333.
Lauren Veres with NNN Properties, an affiliate of Marcus & Millichap based in New-York handled the transaction. The buyer was Kardun Associates, a group of investors from Paradise Valley and the seller was Laird Asset Development (Mitchell C. Laird, manager) of Phoenix, AZ.
To learn more Veres can be reached at 212.430.5131.
For additional information and full portfolio details, see RED Comp #2382.
Taco Bell is coming to Continental Ranch Retail Center, adjacent to the newly built Dunkin Donuts at 8002 N Cortaro Road in Marana. A&W Tacos, LLC of Houston, Texas paid $489,360 ($13.98 PSF) for lot 18, an approximate 35,000-square-foot lot for construction of the restaurant with drive-thru.
Greg Wexler of Wexler & Associates handled the sale for seller, Continental Ranch Development, LLC of Tucson.
To learn more Wexler should be contacted at 520.744.8500 ext. 101.
For additional information see RED Comp #2301.