First Watch Restaurants, Inc. of Brandenton, Florida has acquired the Arizona-based restaurant company The Good Egg; including the brand, concept, all intellectual property and all 20 restaurants. Terms of the deal were not disclosed, but the move solidifies First Watch’s position as the fastest-growing daytime-only company in the U.S.

According to public records, the 4,867-square-foot building at 4775 E Grant Road was sold for$1.4 million ($288 PSF). The restaurant sits on a 10,962 square-foot pad  in the Crossroads Festival Shopping Center at Swan and Grant Roads in Tucson. This was the only property we found transferring in the company acquisition for Tucson.

“This acquisition significantly accelerates our growth in a very desirable market and strengthens our scope and reach in the Southwest,” said Ken Pendery, president and CEO of First Watch Restaurants, Inc. “The Good Egg is a well-established concept that was developed in Arizona, grew successfully, and has built a loyal and passionate customer base that we plan to nurture and grow.”

The sellers of The Good Egg opened the first restaurant in 1987 at 13802 N. Scottsdale Rd.  Original partners Charlie Syburg and Tom Barnett grew the concept to a total of 20 restaurants through organic growth and acquisition. There are currently 15 restaurants in the metro-Phoenix market and five restaurants in Southern Arizona. As the concept grew, Matt Trusela and Frank Collins joined as operating partners and will continue in their roles providing leadership in Arizona.

“Combining The Good Egg with First Watch represented a true strategic alignment and will provide our concept with the necessary resources to continue to grow,” said Syburg. “Additionally, our employees who have made the Good Egg one of Arizona’s best places for breakfast will have new and challenging career opportunities as part of First Watch’s aggressive national growth plans. We are grateful to our loyal customers and confident that this combination will continue to provide them with the service, quality and value they have come to expect.”

Kevin Hall, one of First Watch’s most seasoned operators with more than 20 years of experience with the company, will lead the operations of The Good Egg restaurants working closely with Trusela and Collins.  There will be no interruption in business as part of the transaction.

There are currently three First Watch restaurants in the Phoenix market which will remain open as usual following the transaction.

MDA to Remain As Tenant – Property Renamed to ‘The Offices at La Paloma’

Tucson, AZ, March 14, 2014 – The sale of the 82,942 sq. ft. Muscular Dystrophy Association (MDA) offices at 3300 E. Sunrise Drive took place today, closing at 1:10 p.m., to an affiliate of Tucson-based, Larsen Baker, LLC.  The final purchase price was $9.1 million ($110 PSF) that includes a sale-leaseback by the MDA for a portion of the facility who announced last September that they would be relocating headquarters to Chicago. For prior story click here: https://realestatedaily-news.com/?p=4016

The Tucson facility has 7.14 acres that deliver some of the most scenic views to be found anyplace. With Sonoran Desert and City views from the base of the Catalinas, there are breathtaking panoramic mountain vistas from the site. The land was gifted by Pima County in 1990 to MDA when it first moved its national headquarter to Tucson from New York.

MDA will remain as the major tenant in the offices and said it looks forward to working with Larsen Baker as the MDA building transitions into a multi-tenant corporate office complex to be called The Offices at La Paloma.  Last September, MDA announced it was putting the facility up for sale, but would be keeping the majority of its employees in Tucson.

The main 67,020-square-foot, 2–story, curvilinear design building was completed in 1992, and a 15,922-square-foot LEED Silver building was added in 2010, creating a truly unique corporate office environment. The property boasts striking executive and private offices around a central cubical office area, conference rooms, auditorium, atrium entrance and gathering areas, complete with media studio, mail and print rooms, kitchen and break rooms, exercise and locker rooms, loading dock and other utility functions.

Don Baker, co-owner of Larsen Baker, released an architectural rendering of how the former single tenant building will be repurposed to serve as corporate offices for multiple executive users.  Larsen Baker plans to make improvements to the entry drive, landscaping and signage and then work with TREO to implement a nationwide search for corporate headquarters that could relocate to Tucson.

Richard Kleiner, MBA, Principal of Cushman & Wakefield|PICOR, and Eric Sorensen, Senior Director of Cushman & Wakefield, represented the Seller.  Andy Seleznov, CCIM and Melissa Lal, CCIM of Larsen Baker and James Marian, CCIM and Juan Teran, CCIM with Chapman Lindsey Commercial Real Estate Services in Tucson represented the Buyer. Larsen Baker will handle the office leasing of the property.

Kleiner can be reached at (520) 546-2745 and Sorenson in Chicago is at (708) 752-2268.  Seleznov and Lal should be contacted at (520) 296-0200; and Marian and Teran are at (520) 747-4000, for more information.

Tucson, AZ – Tempe-based Quik Tek Assembly, a minority-owned provider of contract manufacturing services, today announces that it has expanded operations to the Tucson region. Quik Assembly Solutions, a division of Quik Tek Assembly, has leased an 8,000-square-foot building at 3450 S. Broadmont, Suite 120, and plans a $700,000 capital investment. The new facility will be open by April 2014.

Quik Tek Assembly, also a Raytheon supplier, provides a wide range of contract manufacturing services including circuit and cable design; PCB layout and manufacture; PCB, cable and mechanical assembly; product testing and the manufacture of complete product ready to ship.

The company plans to hire 50 new positions over the next 5 years. The jobs at the facility will be a mix of engineering, manufacturing, administrative and technician positions. Candidates interested in job opportunities can visit https://www.quiktekassembly.com/QTContact.php or email Natalie@quiktekassembly.com.

Through TREO, the company worked with community partners including the City of Tucson, Pima County One-Stop Career Center, Arizona Commerce Authority and Startup Tucson.

Adan Ortiz, president of Quik Tek Assembly, said: “Southern Arizona is a growing market, and we needed to be close to both existing and new potential customers. Additionally, we look forward to contributing to workforce development by encouraging STEM interest and providing student internships in partnership with The University of Arizona and Pima Community College.”

“Hi-tech manufacturers and suppliers to existing employers are logical fits for the Tucson region,” said Joe Snell, TREO president and CEO. “In addition, Quik Tek is committed to STEM development and student internships, a critical perspective for our future pipeline of talent.”

Quik Tek Assembly was started in 2010 and the management team offers over 40 years of experience in the electronics industry. Quik Tek offers a comprehensive end-to-end solution for PCB assembly, box builds and other assembly needs. For more information, visit www.quiktekassembly.com.