Burger King at 1960 W River Road sold with three other Arizona Buger Kings in a bulk sale. The Tucson store sold with stores in Prescott Valley, Gilbert and Camp Verde, AZ for an aggregate total of $5.45 million, and a 6% cap rate. Burger King will continue to occupy the restaurants.

Public records show the price for the Tucson store at $1,533,333.

Lauren Veres with NNN Properties, an affiliate of Marcus & Millichap based in New-York handled the transaction. The buyer was Kardun Associates, a group of investors from Paradise Valley and the seller was Laird Asset Development (Mitchell C. Laird, manager) of Phoenix, AZ.

To learn more Veres can be reached at 212.430.5131.

For additional information and full portfolio details, see RED Comp #2382.

Taco Bell is coming to Continental Ranch Retail Center, adjacent to the newly built Dunkin Donuts at 8002 N Cortaro Road in Marana. A&W Tacos, LLC of Houston, Texas paid $489,360 ($13.98 PSF) for lot 18, an approximate 35,000-square-foot lot for construction of the restaurant with drive-thru.

Greg Wexler of Wexler & Associates handled the sale for seller, Continental Ranch Development, LLC of Tucson.

To learn more Wexler should be contacted at 520.744.8500 ext. 101.

For additional information see RED Comp #2301.

CST Brands, Inc. was spun off from Valero Energy Corp. back in October 2013, the company wasted no time in pursuing its strategic initiatives and in early 2014, CST Brands retained NRC Realty & Capital Advisors of Chicago, to divest approximately 117 stores in nine states: Arizona, Arkansas, California, Colorado, Louisiana, New Mexico, Texas, Utah and Wyoming. At the same time, the company said it planned to build 30 new stores in the United States and eight in Canada during the year.

As part of the 117 store divestiture, Circle K of Tempe, AZ purchased two gas station properties with convenience stores in Tucson from CST Arizona Stations.

The gas station and convenience store at 2616 S Mission Road in Tucson sold for $1.38 million ($386 PSF). It included a 3,579-square-foot building (built 1996) on a 1.01 acre lot and 15-years remaining on the fuel lease with Diamond Shamrock.

The second site was for the gas station and convenience store at 4570 S Campbell Ave. in Tucson. The 3,770-square-foot building (built 1998) sold for $1.25 million ($332 PSF) on 2.4 acres at Campbell and Benson Hwy, also with 15-years remaining on the fuel lease with Diamond Shamrock. This property also included a Clear Channel billboard on the site.

NRC Realty & Capital Advisors shows 12 more CST properties in their website available in Arizona, nine in metro Phoenix, two in Tucson, and one in Prescott Valley.

To learn more NRC can be contacted at 800.747.3342 or visit www.NRC.com

PSP Ventures LLC, an affiliate The Remington Group of Tucson (Jamie Argueta, manager) paid $2.35 million ($5,452 per lot) for 431 paper lots at Sycamore Canyon II in the Sycamore Canyon Master Planned Community of Vail, Arizona. Nestled near the base of the Santa Rita Mountains, this was also a buy out of the Sycamore Springs Partnership by Remington Development.

The Remington Group plans to donate 30 of these lots, or about 5.5 acres, to the Vail School District, for next year’s construction of a new elementary school. One of the distinguishing characteristics of the Vail School District is the positive relationship that exists between the school district and its surrounding community. Local businesses, government officials, and non-profit organizations often step to the plate with assistance.

The District has won countless awards, achieved honors, and been highlighted across the country, but none of these accomplishments could have taken place without the support of the community.

Three of Tucson’s homebuilders, Richmond American, Sombra Homes and Pepper Viner are already offering a variety of homes within the community with architectural themes that reflect the region’s heritage of Spanish, Mission and Southwestern traditions.

The remaining 401-lots will be developed for builders, of these there are 150- 70 ft., 87- 80 ft. lots and the balance ranging from 10,000-square-feet to half acre estate lots.

Sycamore Canyon is located west of Houghton Road and just south of Sahuarita Road at Harrison Road. I-10 only minutes away from downtown Tucson about a 30 minute drive.

The natural beauty of the community lends itself perfectly to the over 7.5 miles of desert trails that traverse the neighborhoods. Native plants, animals and beautiful views of the surrounding area can be seen on the trails while walking or running safely within the confines of the community. Another 2.8 mile loop trail is planned when the second phase of the neighborhood is completed, adding even more diversity to residents’ morning hike.

See the Sycamore Canyon Trail Map Here sycamore canyon trail map.pdf

To learn more call Remington Realty at 520.219.1815 or visit https://www.remingtonrealtyaz.com/

Login in for additional information,  also see RED Comp #2359.

[mepr-show rules=”58038″]Sale date: 12/19/2014. Buyer was part of selling trust, but reported paid market rate for lots. Downpayment was $10,000 with a seller carryback for balance. Lots 1 thru 431 and CA A-1 thru A-56, B-1 thru B-30, C-1 thru C-3 and D-1 and D-2 Sycamore Canyon II bk 62 pg 94[/mepr-show]