CHK & Sons, LLC of Fremont, CA purchased the newly constructed Native Grill & Wings at the Tucson Spectrum, 5421 S Calle Santa Cruz in Tucson for $3.47 million ($619 PSF). The 5,615-square-foot restaurant on 1.45 acres sold fully leased in a triple net lease as an investment. HH-NNY TUC 1 had purchased the retail pad for the build-to-suit in November a year ago.
Jamie Medress, Mark Ruble and Chris Lind of Marcus & Millichap in Phoenix handled the transaction and should be reached at 602.687.6700 for additional information. To learn more, see RED Comp #3487.
A ground lease for the Chase Bank at 15960 S Rancho Sahuarita Blvd in Sahuarita, AZ sold to California investors, The Jancso Trust, for $2.95 million ($84 PSF). At time of sale there was an existing ground lease with Chase Bank and 12.5 years remaining on the existing lease. The seller, Rancho Sahuarita Commercial Ventures, LLC of Tucson (Robert Sharpe, president) was represented by Jamie Medress, Mark Ruble and Chris Lind of Marcus & Millichap of Tucson.
Medress, Ruble and Lind can be reached at 602.687.6700 for additional information. To learn more, see RED COMP #3499.
Walgreens at 1900 South 6th Avenue in Tucson sold in an investment sale to Morris Optimus Investments of Highwood, IL for $2.82 million ($209 PSF). The corner property is 13,500-square-feet and was built in 1994. The seller, TSC Tucson, LLC of Beverly Hills, CA was represented by Kennedy Wilson Properties also of Beverly Hills. Michael Puleo and Ryan Eddy handled the transaction.
For more information, Puleo can be reached at 310.749.6768 and Eddy can be contacted at 310.887.3418. To learn more, see RED COMP #3468.
BrakeMAX at 10529 N Oracle Road in Oro Valley was purchased by Suresh and Gita Patel of Gilbert, AZ for $1.8 million ($393 PSF). The 4,780-square-foot building was built in 1999 on a .73 acre outpad in Rooney Ranch Commerce Center. The seller, BrakeMAX #3 Rooney Ranch of Tucson (Raymond Pisciotta, manager) was represented by John Glass and Chris Doty of Marcus & Millichap in Phoenix.
Glass can be contacted at 415.625.2114 and Doty is reachable at 602.687.6700 for more information. To learn more, see RED Comp #3480.
Childtime Learning Center at 7090 N Thornydale Road in Marana sold to ADG Thornydale, LLC of Tucson (Marcel Dabdoub, manager) for $960,000 ($150 PSF). The 6,381-square-foot building on .76 acres was built in 1986. Childtime has a proven track record at this location and recently extended the lease by four years bringing the remaining lease term to approximately 5+ years. The recent extension further indicates the tenant's success and commitment to the location.
Sanford Burstyn with Marcus & Millichap in Phoenix represented the seller, W.P. Carey Inc. of New York, NY. Burstyn can be reached at 602.687.6783 for additional information. To learn more, see RED Comp #3437.
Kent’s Tools & Industrial Supplies, LLC purchased a 4,940-square-foot retail building at 2737-2751 N. 1st Ave. in Tucson for $380,000 ($77 SF) from Charles H. Mitchell and Rebecca E. Mitchell. Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction. To learn more see RED Comp #3511.
Sarah Kats Irrevocable Trust purchased a 1,140-square-foot retail building at 1055 E. Irvington Rd. in Tucson from Stuart S. Carey and Kathryn A. Carrey, B&B Merritt Real Estate, LLC, for $170,000 ($149 PSF). Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction. To learn more, see RED Comp #3500.