TUCSON, AZ – Entrada Contenta Lot 2 LLC, an affiliate of Reliance Commercial Real Estate of Phoenix (Brian Johnson, member) assembled 18,600-square-feet with 124 feet frontage along Broadway for $500,000 ($26.88 PSF). The buildings at 5720 – 5730 East Broadway sold with 5,460-square-feet of improvements for land value only to be redeveloped.

The properties are located along Broadway between Craycroft and Wilmot, approximately one-mile from Park Place Mall, a major Tucson area shopping spot. Broadway Boulevard is a major east / west business arterial. This section of Broadway has recently had some major retail renovations such as the newly opened Longhorn Steak House, directly across the street

The buyer plans to raze the building for redevelopment for an undisclosed retail use. Reliance represents such clients as Pita Jungle, Applebee’s Japanese Hibachi and Sushi Bar, Pizza 9, Red Robin, Paradise Bakery & Café, Pei Wei Asian Diner, Cash Store and others, but were not able to disclose the user.

Nancy McClure and John Ash with CBRE represented the buyer in the assemblage that included three tax codes and sold in two separate transactions. James Robertson, Jr., CCIM, of Realty Executives Tucson Elite represented the seller, The Friske Family Trust of Tucson, on 5720 E Broadway Blvd., and Pat Darcy with Tucson Realty & Trust Company represented the seller, Bow B AZ-Retail, LLC of Los Angeles, CA, on 5720-5730 E Broadway Blvd.

Friske Optometric Center will continue to occupy 5720 E Broadway in a sale leaseback agreement for 6-months. The other building was vacant at time of sale.

For additional information, McClure can be reached at 520.323.5117 and Ash is at 520.323.5177. Robertson should be contacted at 520.877.4940 and Darcy can be called at 520.577.7000.

To learn more, see RED Comp #3911.

BASAD, LLC (Eric Laytin, Manager) purchased the property located at 4224-4228 E. Grant Road Tucson, consisting of 4,514-square-feet of building space in five buildings on 24,640 square feet of land, from Londer Living Trust (Carol L Wells, Successor-Trustee). The property commanded a sale price of $175,000 ($7.10 PSF) and sold for land value.

The property was fully leased at time of sale, but with the Grant Road widening project from Oracle to Swan Road progressing, the property is in the Phase 3 & 4 Phase Alvernon / Swan scheduled for 2017-2021.

Laytin, founder of Tucson-based Brake Masters, also owns the Brake Masters store at 4260 E Grant Road and purchased the property for future expansion for this Brake Masters store, as will be needed when the road widening occurs. In the meantime, the property will continue to leased.

Frank Arrotta of Tucson Realty & Trust Company in Tucson represented the seller and Peter Canacakos of Long Commercial Group represented the buyer in the transaction.

Canacakos said he is working with several sellers along Grant Road and the buyer was attracted to this property being one lot away from the existing store for future expansion. Since the property is income producing in the meantime, it just made a perfect match.

For more information on the Grant Road Widening Project, go to https://www.grantroad.info/

For additional information, contact Canacakos at 520.918.4831. Arrotta can be reached at 520.877.7000.

To learn more, see RED Comp #3939.

CREW Tucson President Debbie Heslop, CCIM, of Volk Company in Tucson represented the seller, Central One, Inc., in its sale of the Golf Links & Kolb Shopping Center at 2530-2580 South Kolb Road. The property, which consists of approximately 26,367 square feet of improvements and approximately 117,657 square feet of land, sold for $4.4 million ($167 PSF).

Shadow anchor space to Walmart Neighborhood Market, the property consists of three buildings. Major tenants in the center include O’Reilly Auto Parts and Discount Tire. The investor was Gaslamp Investments LLC of San Diego (Larry N. Murnane, member).

At the northwest corner of Golf Links and Kolb, the property rests in the heart of the southeast Tucson trade area, with high traffic counts of 92,000 vehicles per day. Surrounded by densely populated, established neighborhoods, the property is approximately one-mile from Davis Monthan Air Force Base.

Jared English of Congress Realty, Inc. in Paradise Valley represented the investor.

The CREW Network is an international organization dedicated to the advance of women in the commercial real estate industry.  CREW’s membership is approaching 10,000 in 72 chapters.  CREW members represent all sectors of the commercial real estate field and totals 43% of the overall workforce in the industry.

For more information, Heslop can be reached at 520.326.3200 and English should be contacted at 800.657.6579.

To learn more, see RED Comp #3889.