Two Kneaders Bakeries at 3550 N Craycroft Road in Tucson and 9660 N Oracle Road in Oro Valley recently sold to California investors shortly after completion. Both were built in 2016 and just recently opened, leased to Kneaders Bakery they sold in triple net investment sales.
The Kneaders at 3550 N Craycroft is located at the southeast corner of River Road and Craycroft adjacent to a new freestanding Natural Grocers (opening in Q3 2016) and the Whole Foods/Petco/Walgreens anchored in River Center. The 4,055-square-foot building commanded a sale price of $2.9 million ($715 PSF) and sold to Beach City Tucson Bakery LLC of Newport Coast, CA
Kneaders at 9660 N Oracle Road in Oro Valley is located at the northeast corner of Oracle Road and Linda Vista Boulevard in the affluent Oro Valley submarket of Tucson, Arizona. The “AAA Four Diamond” Hilton El Conquistador Golf & Tennis Resort is located one block northeast of Kneaders and consists of 428 guest rooms, 45-holes of golf, 31 lighted tennis courts, five restaurants, four swimming pools, and 65,000-square-feet of flexible meeting and banquet space.
The 4,055-square-foot building commanded a sale price of $2.925 million ($721 PSF) and sold to Markham Oro Valley, LLC and RCG Oro Valley LLC of Sabastopol, CA.
Kneaders Bakery & Café’s master franchisee, Four Foods Group of American Fork, Utah was the developer and seller of both properties.
Joseph Compagno and Andrew Fosberg of CBRE in Phoenix and Nancy McClure of CBRE in Tucson brokered both deals.
For additional information, Compagno can be reached at 602.735.1733, Fosberg can be contacted at 602.735.1723 and McClure should be reached at 520.323.5117.
To learn more, see RED Comps #4215 and #4216.