This article has been archived, please login for access or subscribe now for a free trial.

Pizza Hut franchise owner, Pizza Hut of Arizona, Inc. (Pat McConaughey, President) bought the building it has occupied since 1994 at 1502 West St. Mary’s Road in Tucson for[mepr-show rules=”58038″]$286,400 ($117 PSF) in an all-cash transaction, from Hanna Marital Trust of Irvine, CA, an affiliate of privately-held Hanna Capital Management (Ash Hanna, principal). The property sits on an 18,000 sq. ft. lot, east of St. Mary’s Hospital.

The building was constructed as a 7-Eleven in 1970, and renovated for Pizza Hut in 1994. According to McConaughey, “the decision to buy was not based on current low interest rates, but rather coincided with its lease renewal and the desire to make renovations to the building that were not financially prudent as a tenant.”

Pizza Hut of Arizona operates 16 restaurants in Tucson.

The Pizza Hut franchise first opened in 1959, in Topeka, KS. In 1972, Pizza Hut went public and experienced rapid growth. The company merged with Pepsi in 1977 that bundled all its restaurant holdings and spun them off as Yum! Brands (NYSE:YUM) the parent company of A&W Restaurants, KFC, Long John Silver’s and Taco Bell.

March 1, 2013 – Dunkin Donuts’ franchise owner, RAM Holdings, LLC of Tucson (Walter Thibodeau, manager) bought the retail building at 4676 E Grant Road in Tucson for $610,000 ($297 per sq. ft) from Donald F Averson and Margeret R Arveson Revocable Living Trust of Tucson. The property sits on a 19,375 sq. ft. lot at the southwest corner of Grant and Swan Roads and was constructed in 1979.

Wells Fargo handled the financing for RAM Holdings.

The Dunkin’ Brands (NASDAQ: DNKN) franchise claims almost 120 years of combined franchising experience, with two of the world’s most recognized brands: Dunkin’ Donuts and Baskin-Robbins. Under the Dunkin’ Brands umbrella, both brands share the same vision of conveniently delivering high-quality food and beverages in a welcoming environment, quickly, and at affordable prices.

Dunkin’ Donuts is based in the region of Canton, MA, and was founded in 1950. Dunkin’ Brands achieved a global sales record of $6.58 billion in the year 2012.
There were no brokers involved in either sale.

To reach McConaughey call (520)838-5171 ext. 167. Thibodeau can be contacted at (520) 797-7142. Dunkin’ Brands Corporate Office is at (781) 737-3000. Pizza Hut Corporate can be reached at (800) 948-8488.

[/mepr-show]

OFFICE SPACE – 2030 EAST BROADWAY BLVD., TUCSON
A-Team Security leased 850 sq. ft. at 2030 E Broadway Blvd. in Tucson from Butera Real Estate, Inc. Thomas Unger of Butera Real Estate handled the transaction.

RETAIL SPACE – 7375 WEST BELL RD, PEORIA
Tres Amigos World Imports Holding Company has leased 22,115 sq. ft. at Arrowhead Palms Shopping Center, 7375 W Bell Road in Peoria Arizona. Tres Amigos specializes in the sale of Spanish Colonial, Mexican and Tuscan-themed furniture and accessories. Rick Borane of Volk Company Commercial Real Estate of Tucson represented the tenant. Donna Reece of Zell Commercial Real Estate of Phoenix represented the landlord, Arrowhead Palms, LLC.

RETAIL SPACE – 5635 E RIVER ROAD, TUCSON
Sparkle Cleaners leased 945 sq. ft. at the River Center, at 5635 E River Road in Tucson, at the northeast corner of River and Craycroft Roads from Larsen Baker. Andy Seleznov and Melissal Lal of Larsen Baker represented the landlord.

RETAIL SPACE – 3843 N ORACLE ROAD, TUCSON
1 Hour Glass leased 1,200 sq. ft. at 3843 N Oracle Road from Tesoro Enterprises, LLC. Gary Emerson of GRE Partners, LLC represented the landlord.

RETAIL SPACE – AT TUCSON SPECTRUM
National Vision leased 2,530 sq. ft. at Tucson Spectrum, on the southwest corner of I-19 and Irvington Road from DDR of Beachwood, OH. Nancy McClure and Jayme Fabe of CBRE represented the landlord and Jeff Zellet of Picor Commercial Real Estate represented the tenant.

To submit sales or leases email [email protected]

This article has been archived, please login for access or subscribe now for a free trial.

The infill property, known as the “Donut Hole” at Rancho Vistoso in Oro Valley, so named because of the way the golf course wraps around it, was purchased by True Life Communities a private company of San Ramon, CA (Taber Anderson, CIO). In August 2012, the developer purchased 168 acres for $10 million (about $60,000 per acre) and recently acquired an additional 26 acre out piece for[mepr-show rules=”58038″]$3.44 million, (about $132,000 per acre) as part of the ‘Donut Hole’ project.

Arizona Vistoso Return, LLC an entity of Armed Forces Bank of Kansas City, MO (David Frances, EVP) sold the first 168 acres to the investor/developer; it was an REO sale. The seller of the next 26 acres was Vistoso Partners, LLC, a privately-held company in Tempe, AZ (Ashton Wolfswinkel, manager).

True Life Communities has assembled 194 acres, and reportedly has 70 acres designated for open space, for a total of 124 net acres for development of roughly 400 residential lots ($33,600 per lot).

Will White of Land Advisors Organization of Tucson handled both transactions for the developer and has been retained to co-manage the marketing and homebuilder sales for True Life Communities. Discussions with several homebuilders for platted and engineered lots has already begun with the True Life Team.

The Real Estate Daily News on Feb 27, 2013 reported “Rincon Knolls Goes For $6.1 Million”, please see this related transaction for more information.

Taber Anderson can be reached in the Phoenix office at (602) 626-8777. David Frances of Armed Forces Bank is at (816-472-0081 ext. 26076. Ashton Wolfswinkel at Vistoso Partners can be contacted at (480) 831-2000. Will White of Land Advisors is at (520) 514-7454.

[/mepr-show]