TUCSON, AZ (July 3, 2024)—Crossroads Adult Care Home Escondido is a community offering assisted living and memory care at 5821 N Escondido Lane in the Casas Adobes submarket of Tucson. Residents can choose from a range of studio room layouts.

The community has three separate buildings, each 3,500 square feet with 10 beds per building. The property comprises approximately 10,500 square feet and 30 beds on a sprawling and lush two+ acre campus with amenities such as a swimming pool, koi ponds, and mature trees.

It sold for $2.5 million ($83,333 per bed) on June 27, 2024.

The community has earned an impressive average rating of 8.9 out of 10, making it the 64th highest-rated community in the city out of 161. This recognition is a testament to the exceptional care and services provided, instilling confidence in the community’s quality.

Omer Kreso and Grant Withers with Realty Executives Arizona Territory represented the seller, Escondido 30, LLC of Phoenix. Daniel Biel also with Realty Executives Arizona Territory represented the buyer, Melvinateo, LLC, of Tucson.

Kreso, Withers, and Biel should be contacted at 520.877.4940 for more information.

To learn more, see RED Comp #11377

TUCSON, AZ (July 2, 2024) – Retail Pad sites remain in demand, not just for QSRs. The following sites were closed in June:

Two sites, strategically located at Tangerine Commerce Park, I-10 & Tangerine Road, were closed in June. The first, STRR Investments, LLC, purchased a 34,000-square-foot building pad for its tenant, Taco Bell, from R11 Tangerine Corporation.

The asset sold for $850,000 ($25. PSF) for the build-to-suit site that closed on June 7, 2024.

Ben Craney and Gordon Wagner of NAI Horizon represented the seller, and Greg Saltz of GPS Commercial Advisors of Phoenix represented the buyer.

The other pad sale at Tangerine Commerce Park Site is at 9585 W Tangerine Road in Marana, a 1.23-acre building pad purchased by O’Reilly Auto Enterprises, LLC, dba O’Reilly Auto Parts of Springfield, MO, for the construction of the O’Reilly Auto Parts store already under construction.

The retail pad sold for $995,000 ($18.51 PSF) and closed on June 10, 2024.

The seller, Tangerine / I-10, LLC, an affiliate of Cottonwood Properties of Tucson, was represented by Ben Craney and Gordon Wagner of NAI Horizon in Tucson, and the buyer was represented by Debbie Heslop of the VOLK Company in Tucson.

Taco Bell and O’Reilly’s will join Mister Car Wash, Ace Hardware, and Starbucks at this retail center.

In a third pad sale, Tucson-Valencia Take Five, LLC purchased 34,604 square feet of retail land at 1511 W. Valencia Rd. in Tucson from OTB–MIDVALE & VALENCIA, LLC, for $750,000 ($21.67 PSF).

It will be used to construct a 1,400-square-foot Take Five Oil Change, its fourth in metro Tucson. The transaction closed on June 14, 2024.

Take Five is widely known for delivering fast, friendly oil changes as easily and safely as possible. Driven by and designed for convenience, it gets everyone in and out in minutes without ever needing an appointment. Every service is performed by certified technicians, and Take Five offers a range of additional automotive services for all vehicle makes and models.

Dave Hammack, Principal and Retail Specialist with Cushman & Wakefield | PICOR, represented the seller. 

For more information, Craney can be reached at 520.326.4500, Wagner at 520.326.2200, and Hammack at 520.546.2712.

See RED Comps #11338, #11350, and #11352 to learn more.

TUCSON, Ariz., (June 28, 2024) – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Hawaiian Bros, a 4,520-square foot net-leased property located in Tucson, Arizona.

The asset sold for $3,925,925 ($869 PSF).

“The property was on the market for four months, and the buyer is using the property to satisfy his 1031 requirement,” says Mark Ruble, an investment specialist in Marcus & Millichap’s Phoenix office.  “Our team has been able to leverage local market knowledge, asset experience, and a national platform for this transaction.” Ruble, Chris Lind and Zack House, investment specialists in the firm’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The sale included a brand new 15-year absolute triple-net (NNN) lease with corporate guaranty and 10 percent rental increases every five years with multiple renewal options.

B28ilt in 1999, Hawaiian Bros is located at 203 South Wilmot Road in Tucson, Arizona. This property has excellent frontage along South Wilmont Road, with approximately 77,000 cars per day at the corner of Wilmont Road and Broadway Boulevard. The asset is located across from Park Place Mall, and seven million visits have been reported over the past 12 months per Placer.ai. The tenant is a successful franchise with plans to open 75 Hawaiian Bros locations throughout Arizona and North Texas. With a recent opening in February 2024, the property had a complete interior and exterior renovation. Hawaiian Bros is a rapidly growing restaurant chain with over 50 locations in eight states and $100 million in 2022 revenue and $200 million projected for 2023.

To learn more, see RED Comp #11343.