TUCSON, ARIZONA – A Family Trust, the Johnson Family Trust of Henderson, NV bought the Arby’s Restaurant at 4405 N 1^st Avenue in Tucson for $2.392 million ($790 PSF) in an investment sale.

Built in 1984, the 3,028-square-foot Arby’s is on a 37,392-square-foot lot sold with a  new 20-year triple net lease and fixed 10% rent increase every 5-years through the initial term and options. The restaurant was previously a Boston Market, remodeled in 2020 to an Arby’s with 38 parking spaces, pylon signage, drive-thru and outside dining area.

Clint Short with Matthews Real Estate Investment Services represented the seller, Bonanza Plaza of Scottsdale, and is now with Berkeley Capital Advisors.

To learn more, see RED Comp #8443.

TUCSON, Ariz., – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Carlton Village Senior Care Community, an 80-bed assisted living community built in 2018 in Tucson, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Tucson office, the asset sold for $5,600,000 ($70,000 per bed).

Alex Snyder and Hamid Panahi, Senior Housing investment specialists in Marcus & Millichap’s Tucson office, had the exclusive listing on behalf of the seller, a seniors housing developer. “The developer’s foresight of evolving resident preferences among the high-acuity segment of assisted living led to the innovate creation of Carlton Village” noted Snyder.

The buyer, a Tucson-based assisted living owner/operator, was also procured by Snyder and Panahi. “Northwest Tucson’s burgeoning 75-plus population will benefit by having an experienced regional operator expand their care offerings to serve new areas of Tucson,” said Panahi.

Located at 321 West Limberlost Drive, this community combines the scale of a large assisted living operation with the communal setting of high-acuity care homes, creating a quasi-campus of eight 10-bed homes. A similar trend is emerging throughout the country and will only continue as a result of the Coronavirus pandemic. “Although the demographics indicate a wave of future residents, communities need to constantly innovate to meet evolving resident preferences, prioritize healthcare, and restore confidence that the safest place for Seniors in the face of viral outbreaks, be it the current pandemic, annual flu seasons, or future contagions, is in a seniors housing community” Snyder explained.

Communities like Carlton Village have reinvigorated the Senior Care investment community as investors seek out ways to alleviate viral spread through investments in prop-tech, building restructuring, or different community layouts to accommodate for social distancing.

Phoenix, Arizona – CBRE announced the sale of a single tenant net investment sale of a BrakeMAX in Marana (Tucson), Ariz. sold to a 1031 exchange buyer, 6055 Jenna Nicole, LLC, a private Tucson-based investor for the asking price of $2.06 million. ($377 PSF) in one of the first sales being reported in 2021.

CBRE’s Nancy McClure in Tucson, along with Philip D. Voorhees and Jimmy Slusher in Newport Beach, Calif. represented the local private seller. The buyer was represented by Danny Gardiner and Chad Tiedeman, Phoenix Commercial Advisors, Phoenix, AZ.

The property, located at 6055 W. Jenna Nicole Lane, consisting of a single use automotive service building of 5,464-square-feet that was built in 2003 for BrakeMAX.

BrakeMAX is a regional operation owned by a New York Private Equity group, Greenbriar Equity with 16 locations across greater Tucson.

“This property attracted a number of offers from highly-qualified buyers,” said McClure. “This commercial asset type is extremely attractive to high-net-worth individuals, family offices and other investors—especially those looking for necessity-oriented net lease properties like this one.  It is internet-proof and continued to operate during the pandemic.”

For more information, McClure should be reached at 520.323.5117.

To learn more, see RED Comp #8407.