Salem Marana Investments, an Oregon LLC and affiliate of Link Development (Ronald Ziebart, owner) purchased a 3.99 acre parcel of land located at 8695 North Silverbell Road in Marana from DAZ-7 Sombrero Peak LLC and affiliate of The DESCO Group for $869,190 ($5 PSF).

The property is lot 2 within Continental Crossing, a 25 acre mixed use development in Marana with plans for 50,000-square-feet of retail, multifamily and other residential use. The buyer purchased the 3.99 acres for construction of an assisted living facility.

Other communities Link Development of Salem Oregon has completed in Arizona include Joshua Springs Senior Living in Bullhead City, and White Cliffs Senior Living Community in Kingman. Under construction with a 2016 opening is Caliche Senior Living in Casa Grande.

Continental Crossing has two commercial pads still available for development.

Michael Sarabia and James Hardman of DESCO Southwest in Tucson represented the seller in the transaction.

For more information, Sarabia and Hardman should be reached at 520.297.8929.

To learn more, see RED Comp #3749.

The industrial property at 24, 26, 38 & 44 East Flores Street in Central Tucson sold for $540,000 ($74 PSF) to Tucson Shared Kitchen LLC of Phoenix (Kimberly Kammann, manager).

The property consists of two buildings, a 2,500-square-foot warehouse / storage building (built 1953) and a 4,825-square-foot commercial kitchen, built 1951 The kitchen included some equipment that was included in the sale price. Fixtures included a large stainless steel vent hood, fire suppression system, grease trap, two mop drains, and two walk-in coolers, one with freezer.

Property sits on .63 acre at Flores and Stone in Central Tucson.

The buyer purchased the property to continue to operate it as a commercial kitchen.

John Hamner, CCIM, and Gary Best, CCIM, with Keller Williams Southern Arizona in Tucson represented the seller, R & G Food Services, Inc that was also an owner user dba Latitude Kitchen and Catering prior to sale.

Dean Cotlow of Cotlow Company in Tucson represented the buyer.

For more information, Hamner can be reached at 520.907.0030 and Best is at 520.444.0799. Cotlow should be contacted at 520.881.8180.

To learn more, see RED Comp #3715.

O’Reilly Auto Parts at 3740 East Grant Road in Tucson, a 7,000-square foot net-leased property, according to Don Morrow, regional manager of the firm’s Marcus & Millichap (NYSE: MMI) Phoenix office, sold for $1.25 million ($178.57 PSF).

Mark Ruble, Jamie Medress and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

Built in 1999, Grant Dodge LLC (David Lee, manager), the seller, purchased the property in 2013. The well-established location benefits from 38,000 vehicles per day along East Grant Road and tenant recently exercised a first renewal option.

For additional information, Ruble should be reached at 602.687.6766, Medress is at 602.687.6778 and Lind can be contacted at 602.687.6780. David Lee of David Lee Commercial Real Estate can also be reached at 520.795.3199.

Login for additional information, to learn more see RED Comp #3788

[mepr-show rules=”58038″]For Sale Price:$1,250,000 Price/SF:$178.57; Cap Rate:6.00 %; Parking:Free Surface spaces are available; Ratio of 5.86/1,000 SF Features:Bus Line, Pylon Sign, Signage[/mepr-show]