Local Group Buys Retail and Excess Land for $1.2 Million

8553 N Silverbell Rd, Marana
8553 N Silverbell Rd, Marana

This article has been archived, please login for access or subscribe now by going to the subscribe tab at the top of page.

Aljaar Investment Corporation (Armando Pazionek, managing member) purchased in two separate transactions a 5,572-square-foot multi-tenant class-B retail building on .65 acres and 39,280 square-feet of excess land at 8553 & 8557 N Silverbell Road in Marana for[mepr-show rules=”58038″]$1.2 million. Property was built in 2007, and is located in Continental Ranch North, north of Cortaro Road and south of Coachline, on Silverbell.

The retail building was 70% occupied when it sold, with La Olla Mexican Restaurant and Indigo Day Spa as tenants. La Olla is a Sonoran style restaurant with an original twist that also caters and Indigo Day Spa, a full service salon and one of the first in Tucson to offer Brazilian Blowout, Shellac and Minx nails.

The remaining 1,680-square-feet was vacated on Sept 1 and is available for lease. It is a high-visibility, end-cap unit facing Silverbell, currently built-out as an insurance office, with lobby, high ceilings, granite counter tops, private bathroom and break area.
John Hamner, CCIM, and Gary Best, CCIM, of KW Commercial in Tucson have been retained as leasing agents for the property. Hamner represented the buyer, in both sale transactions.

Clave Lilien of Long Realty in Tucson represented the seller, A1 Investments, LLC of Tucson (Clint and Marsha Gardner) on the building at 8553 N Silverbell Road. The seller of the excess land, Silverbell Development Partners, LLC of Tucson (Steven Mar, managing member) was represented by Debbie Heslop, CCIM, of the Volk Company in Tucson.

The investor is looking for more retail properties of this type in the Tucson area.

For more information, contact Hamner and Best at (520) 615-8400. Lilien can be reached at (520) 825-7227 and Heslop should be called at (520) 326-3200.[/mepr-show]

 

Login for additional information.

[ismember]8553 N Silverbell – Sale Date: 9/11/2013. Sale price: $933,000 ($167.44 PSF) for the 5,572 SF building on 28,311 SF lot, APN: 221-21-003G. Property is zoned NC, Marana. Escrow time: 60-70 days. Asking rent on 1,680 SF is $14/SF/NNN, triple nets are estimated at $5 / SF

Land at 8557 N Silverbell – Sale Date: 9/20/2013. Sale price: $245,000 ($6.24 PSF) for the 39,280 SF of excess land, APN: 221-21-003F. The lot had no improvements and was purchased as a speculative hold for investment. Escrow time: 45 days. [/ismember]




Fletcher Tire Sold to Re-tenant Big O Tires

2445 N Silverbell Rd, Tucson
2445 N Silverbell Rd, Tucson

This article has been archived, please login for access or subscribe now by going to the subscribe tab at the top of page.

The property at 2445 N Silverbell Road in Tucson sold to Dahlstrom Silverbell, LLC of Tucson (Terry Dahlstrom, manager) for[mepr-show rules=”58038″] $518,000 ($130 PSF) for the 3,986-square-foot building with six bays. Build in 1995, it had been occupied by Fletcher Tire & Auto for automotive use since build and was purchased to re-tenant to Big O.

Fletcher had given notice of intent to vacate at lease termination and Big O was looking for a new space in the area. Big O Tires has eight other locations in the Tucson region.

The seller, Ten Place, LLC of Tucson (Susan Deconcini, managing member) and the buyer, a licensed real estate broker with Volk Company, were both self-represented in the transaction.

The Big O Tires story begins back in 1962, just as America’s new love affair with the automobile was hitting high gear. The market for replacement tires was exploding, and independent tire dealers found themselves struggling to compete in the face of low prices offered by major tire manufacturers’ own company stores. Big O’s founding fathers were a handful of progressive independent tire dealers who decided to band together to form a tire-buying cooperative so that they could secure volume pricing and keep their customers happy. Their concept worked. In the years that followed, The Big O Tires co-op evolved into a full-fledged franchise as it continued to find innovative ways to harness the power of the collective to benefit independent dealerships and their customers.

Almost a half-decade later, Big O Tires has become North America’s largest retail tire franchisor, with over 400 independently-owned and operated locations in 20 states, providing customers with a broad range of automotive services in addition to quality tires, wheels and accessories. Big O has become an industry role model admired for its innovative approach to franchising and unmatched customer loyalty ratings.

In 1996, Big O Tires joined forces with one of the largest and most respected tire marketers in the nation when it became part of the TBC Retail Group, an automotive retail network comprised of some 1,200 Big O Tires, Tire Kingdom, Merchant’s and NTB locations spanning 40 U.S. states. Big O’s reach was broadened again in 2005, when TBC Corporation was acquired by Sumitomo Corporation of America, the largest wholly-owned subsidiary of Tokyo-based Sumitomo, one of the world’s leading traders of goods and services.

As Big O Tires continues to thrive and adapt to an ever-changing marketplace, it remains rooted in its humble beginnings as a proud collective of independent dealers committed to putting its customers first.

Dahlstrom can be reached at (520) 326-3200.

[/mepr-show]

 

Login for more information.

[mepr-show rules=”58038″]Sale date: 9/19/2013, $80,000 down balance financed in seller carry back. Escrow time: 45 days.[/mepr-show]




Allstate Self-Storage, Phoenix Sells for $2.8 Million

all state storage logoAllstate Self Storage, located at 10411 N 19th Avenue in Phoenix sold for $2.8 million ($46 PSF). The property sold to an investor from Albuquerque, New Mexico. The seller was an individual from Phoenix, Arizona. The 61,000-square-foot, 840-unit self-storage facility, built in 1980, was 70% occupied at closing.

Allstate Self-Storage offers 24 hour video monitoring, 7 days a week access, automatic gates, boat/RV storage, climate controlled units, drive up access, and drive up units from 5’x 5’ to 12’ x 25’.

Bill Alter and Denise Nunez of Rein & Grossoehme specialize in the sale of storage properties and represented both parties in the transaction, making their 120th successful sale.

Rein & Grossoehme specializes in the sale of investment properties and retail, office and industrial leasing.

Alter and Nunez should be contacted at (602) 315-0771.