This article has been archived, please login for access or subscribe now for a free trial.
Dunkin Donuts franchisee, Campbell Tucson Retail, LLC of Chandler, AZ (J. Aaron Klusman, manager) exercised a purchase option on the restaurant at 2553 N Campbell Ave. in Tucson[mepr-show rules="58038"]for $575,000 ($336 PSF) after doing a complete reconstruction of the former Los Alazones Mexican Food restaurant. The 1,712 sq. ft. building was originally built in 1970 as a What-A-Burger and is located northwest of Campbell and Grant. The sellers were Edward E Colson and Karen Jeanne Colson, Trustees of the Colson Family Trust of Carlsbad, CA.
As part of a double escrow, also on March 22nd, Campbell Tucson Retail resold the property to Ronnie and Judith Green of Aurora, CO in a sale leaseback agreement with the franchisee for $1.25 million and undisclosed terms.
The new Dunkin Donuts is to open Saturday, March 30th. The building has been completely transformed from the original structure that was razed down to the slab and one wall, as the before and after photos indicate. The transformation to the entire city block is a dramatic one. The franchisee owns other Dunkin Donuts and / or coffee shops in the Phoenix and Las Vegas markets. This is its first store to open in Tucson.
Rick Borane of Volk Company in Tucson handled the lease and purchase option with sale for the franchisee.
To contact Borane call (520) 326-3200. Klusman is at (602) 774-3300.
[/mepr-show]
