TUCSON, Arizona – Kyle Kolsrud, a Culver’s franchisee, closed on a 41,387-square-foot lot at the Shops on Valencia for $1.3 million ($31.40 PSF). This will be the third Culver’s operated by Kolsrud in metro Tucson and to be located at Valencia and Headley in the Midvale Park area.

The seller was Christifulli Companies of Phoenix (Nick Christifulli, member) was represented by Larry Cesare of Broadway Realty & Trust in Tucson.

Culver’s will join a newly finished build-to-suit Dutch Bros that will be opening ‘in two weeks’ here.  This will be the fifth location for expansion-minded Dutch Bro’s in metro Tucson expecting to see more openings soon. Dutch Bros management has announced at the start of 2019 it wants to grow to 800 shops in five years from around 300 stores now.

The Dutch Bros built-to-suit was handled by Marty Olejarczyk (Marty O.) and Jesse Rozio of GPS Retail Advisors in Phoenix and being marketed as a net leased investment sale.

In addition to these confirmed tenants, the center’s broker, Larry Cesare at Broadway Realty & Trust is pre-leasing a 10,000-square-foot building for two tenants that have shown interest in approximately half of the building each.

Kurt Kalocin with SRS Real Estate Partners of Phoenix represented Culver’s in the transaction.

For additional information, Cesare can be reached at 520.584.5804 and Kalocin should be contacted at 602.682.6078.  For more information on the Dutch Bros contact Rozio at 480.603.6892.

To learn more, see RED Comp #6751.

TUCSON, Arizona – STRR Investments of Houston (Rehman Ahmed (manager) has closed on a 39,120-square-foot pad at Tucson Marketplace at the Bridges. For $675,000 ($17.25 PSF). The site in located north of the northeast corner of Kino Parkway and Tucson Market Place Blvd.

KFC is joining Mister Car Wash, Discount Tire and Culver’s at this section of the Tucson Marketplace along with a potential Dutch Bros next door. Tucson Marketplace is a 1 million-square-foot mixed use master planned commercial development.

The U.S. chicken chain based in Louisville, KY has been doing something in 2019 that it hasn’t done in 15 years: add more locations. KFC has shrunk by 1,400 locations since 2004 but expects to change direction this year. To do this, the chicken chain is providing incentives to operators who build new units. It is also finding new places to put new restaurants, focusing more on nontraditional locations and eyeing urban, inline locations the chain has abandoned in recent years. While the chain is focused on new units, it is also working to keep closures to a minimum.

Chad Russell and Randy Titzck of Land Advisors Organization in Phoenix represented the Canadian–based seller, Fullerton Tucson Kino Parkway. Greg Saltz, Marty Olejarczyk (Marty O.) and Jesse Rozio with GPS Retail Advisors represent KFC and Dutch Bros in Arizona.

For more information, Russell and Titzck should be contacted at 480.483.8100. Saltz, Olejarczyk, and Rozio can be reached at 480.603.6892.

To learn more, see RED Comp #6774.

TUCSON, ARIZONA — Phoenix-based, Presson Corporation (Daryl Burton, President) purchased the 29^th Street Business Plaza, a 72,190-square-foot industrial zoned flex property located at 4901-5069 East 29^th Street in Tucson for $3.075 million ($42.60 PSF).

Built in 1976, the 60 warehouse / incubator style flex units were originally 1,200-square-feet each on 5.48 acres northeast of Swan on 29^th Street; over the years many of the units have been combined.  The mix of tenants include Marksman Pistol Institute, Old Pueblo Trophy, Evolved Behavior Health Services, Tasc Incorporated, Integra Custom Systems, Gus Mare Plumbing & Air, Advantage Medical Products, and Repower Old Pueblo Solar Heating.

Property was 80% occupied at time of sale.

The buyer was represented by Robert C. Glaser, SIOR, CCIM, Principal and Industrial Specialist with Cushman & Wakefield | Picor of Tucson. Jon Jump, Principal with Jump Ventures, Inc., represented the seller, Dybvig Pima County of Tucson (David Dybvig, manager).

The Presson Corporation primarily operates in the Commercial and Industrial Building Operation business / industry within the Real Estate sector and has been operating for approximately 30 years.

“The 29^th Street Business Plaza represented a stable opportunity for the buyer,” said Jon Jump. “The property is in a great location in the heart of central Tucson, with the high occupancy and tenant mixture, and a low price per square foot, creates exceptional appeal for the incubator market.”

Cushman & Wakefield | Picor will handle leasing of the property for the buyer.

For additional information, Glaser can be reached at 520.546.2707 and Jump should be contacted at 520.733.0007.

To learn more, see RED Comp #6851.