All Real Property, Inc. (Jack Westberg, manager) of Camp Verde, AZ bought an outpad at Houghton Town Center for $380,000 for the construction of a Brake Masters store. The exact size of the pad is unknown after easements and other entitlements are still to be made, however other pads have been selling for approximately $18 per square foot at this center.
Brake Masters will be joining Walmart, Discount Tire and Panda Express that opened earlier this year in the new center located at the southwest corner of Old Vail Road and Houghton Road in Southeast Tucson.
The Brake Masters building will be approximately 6,000-square-feet with 8-bays when is completed.
Jim and Ryan Egan of Prime Commercial Real Estate handle the real estate and development for Brake Masters. Ryan Egan told us that they are about to open a Brake Masters in El Paso, TX and another in Sacramento, CA this February. They are also closing on three additional sites in metro Phoenix, which they expect will have one store built before beginning the Houghton Town Center site sometime in 2015.
Brake Masters currently owns 67 corporate stores in the Southwest, and 14 in the Tucson. The Houghton Town Center store will be number 15 in Tucson.
Shannon Murphy of DVI Realty in Tucson represented the seller, Houghton Developers, LLC, an affiliate of Diamond Ventures (Don Diamond) and Jim and Ryan Egan of Prime Commercial Real Estate in Tucson represented the buyer.
In a separate transaction, All Real Property, Inc. also purchased a 1.52 acre lot near the northwest corner of Broadway Blvd and Wilmot Road, across from Wilmot Plaza for $1.3 million ($19.58 PSF) for future construction of a Brake Masters once rezoned. The address is 75 N Wilmot Road. Wilmot Plaza is located near Park Place Mall and currently under redevelopment by Bourn Companies. Find complete story here: Wilmot Plaza Razed and Renovated
The Wilmot and Broadway site was a former restaurant, razed and sold for land value.
The seller was also an affiliate of Diamond Ventures, Tucson Broadway Office Plaza, LLC and represented by Shannon Murphy of DVI Realty in Tucson and David Montijo and Jayme Fabe with CBRE in Tucson. Jim and Ryan Egan of Prime Commercial Real Estate in Tucson represented the buyer.
To learn more the Egan team can be reached at (520) 512.0020, Murphy should be contacted at (520) 577.0200. Montijo is at (520) 323.5136 while Fabe can be reached at (520) 323.5166.
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[mepr-show rules="58038"]Sale date of Wilmot Plaza land was 5/9/2014 for $1.3 million in an all cash deal. APN #127-09-012D
Sale date of Houghton Town Center was 5/16/201 for $380,000, all cash and was a 1031 exchange for buyer.[/mepr-show]