TUCSON, ARIZONA ––  A .71 acre infill parcel was purchased by Best Neighbor, LLC of Tucson (David Malboef, member) for $630,000 ($20.48 PSF). The property is located in Barrio Viejo and will used for a multifamily infill project.

Meaning “old neighborhood” in Spanish, Barrio Viejo is known for its brightly-colored adobe houses, Mexican cantinas and hip eateries and pubs.

Barrio Viejo offers a colorful look at the Mexican heritage and vibrant communities that have shaped Tucson’s urban life. It’s great for foodies and history buffs for an afternoon of exploring. Barrio Viejo is an underrated gem in one of Arizona’s most historic cities.

This old neighborhood is packed with 19th century homes. Historically, it was home to some of the city’s most prominent families and notable civic leaders. And in those days, the barrio boasted a colorful street life that reminded some of old Mexico. Up until the 1880s, it was a Free Zone with few policemen.

In the 1880s and 90s it was home to a diverse community of working class people from Europe, Africa, Asia and Mexico, many who worked on the Southern Pacific Railroad. When the tracks were finished, Tucson went from a dusty little town to a city of opportunity.

But many of the homes in Barrio Viejo fell into disrepair in the mid 20th century. The construction of a convention center in 1971 led to the levelling of some 80 acres and razing of homes that displaced 725 residents. The surviving adobe homes make up one of the largest collection of 19th century adobe buildings in the U.S.

These days, Barrio Viejo is a vibrant commercial and residential community in the heart of Tucson adjacent to the Tucson Convention Center and many governmental buildings that make it a desirable place to live or to locate or expand a business

Jim Storey with Tierra Antigua Realty in Tucson handled the land sale for both buyer and seller, Arizona Territorial Lands, LLC  (Donald Rollings, manager) also a long time developer in Barrio Viejo.

For more information, Storey should be reached at 520.977.6311.

To learn more, see RED Comp #9218.

GLENDALE, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of BevMo!, a 14,956-square-foot net-leased property located in Glendale, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $4,765,000 ($319 PSF).

Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, another limited liability company, was procured by Ruble and Lind.

Built in 2000, BevMo! is situated along the dense Bell Road retail corridor, surrounded by numerous national retailers. Two miles off the Loop 101 and Interstate 17 freeways, the location is visible to over 61,800 vehicles per day on the hard corner of West Bell Road and North 67^th Avenue. There are 329,015 residents within a five-mile radius in the Phoenix MSA with an average household income exceeding $94,000 annually. BevMo! is located at 6712 West Bell Road in Glendale, Arizona.

TUCSON, Arizona – The former Wendy’s Restaurant with drive-thru at 7860 East Wrighstown Road in Tucson sold for $360,000 ($150 PSF)  to Badasam Investments of Scottsdale (Barry Werner, manager).

The 2,398-square-foot building was built in 1978 on .54 acres at the southwest corner of Wrightown and Pantano Roads. It has been vacant for several years and the buyer purchased it speculatively to lease.

Aaron LaPrise and Dave Hammack with Cushman & Wakefield | Picor handled the sale for buyer and seller, Milana Mihich, trustee of her Family Trust.

LaPrise and Hammack also have the leasing contract for the property.

“Drive-Thru properties are always in high demand,” Aaron LaPrise said. “The restaurant property offers plenty of retail opportunities.  Drive-thru lanes have become a superstar in retail.”

After decades as a fast-food staple, drive-thru lanes became the superstar, helping fast-food chains’ sales rebound faster than those of its full-service brethren. By December, drive-thru lanes accounted for 44% of off-premise orders across the entire restaurant industry, according to the NPD Group. As vaccine distribution ramps up across the United States, the popularity of drive-thru ordering appears to have staying power, and is expected to stay above pre-pandemic levels for some time to come.

For more information, LaPrise and Hammack should be reached at 520.748.7100.

To learn more, see RED Comp #9192