TUCSON, ARIZONA – A ground lease on a newly constructed Arby’s at 1050 East Tucson Marketplace Boulevard in Tucson sold for $1,720,882 ($46.32 PSF).
The 37,139-square-foot pad had a 2,300-square-foot Arby’s under construction at time of sale, with expected opening later this month.
The ground lease sold with a 20-year lease with four 5-year options.
Arby's, founded in 1964, is the second-largest sandwich restaurant brand in the world with more than 3,500 restaurants in nine countries.
The Arby's brand purpose is "Inspiring Smiles Through Delightful Experiences®." Arby's delivers on its purpose by celebrating the are of Meatcraft® with a variety of high-quality proteins and innovative, crave-able sides, such as Curly Fries and Jamocha shakes. Arby's Fast Crafted® restaurant services feature a unique blend of quick-serve speed combined with the quality and made-for-you care of fast casual.
Arby's Restaurant Group, Inc. is the franchisor of the Arby's Brand and is part of the Inspire Brands family of restaurants headquartered in Atlanta, GA. Inspire Brands is the owner and franchisor of Arby's, Baskin-Robins, Buffalo Wild Wings, Dunkin', Jimmy John's, and Sonic Drive-In, among others, with a combined 32,000 locations across 65 countries and over $27 billion in revenues. Inspire Brands is majority owned by Roark Capital Group, an Atlanta-based private equity firm with 25th billion assets under management.
Chad Russell with Land Advisors Organization of Phoenix represented the seller, Tucson Marketplace developer, Fullerton Tucson Marketplace of Toronto, Ontario, Canada. The investor, a family trust from El Cajon, CA was represented by Jonathan Eckerd of James Capital Advisors of Scottsdale.
For more information, Russell can be reached at 480.874.4339 and Eckerd can be contacted at 602.737.0906.
To learn more see RED Comp #9746.