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.

TUCSON, AZ (June 28, 2024) – Cushman & Wakefield | PICOR announced one of its top sales this month at 4825 N Sabino Canyon Road, which sold for $2,758,000 ($107.42 per square foot). The 25,675-square-foot property—originally home to the former Hidden Valley Inn restaurant and most recently used as an office building—was acquired by Gould Family Properties VIII LLC from HVI, LLC. Paul Hooker, SIOR, Principal, and Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction.

Wayne Gould, renowned for his passion for classic cars, will relocate and expand his Tucson Auto Museum into this prime location. Gould, who transformed his retirement into a legacy of automotive preservation, has curated a collection of over 70 meticulously restored vehicles. Highlights in this award-winning collection include a Model T, a 1929 Duesenberg Model J, a one-of-one 1948 Kurtis-Omohundro Comet, a 1957 Dual-Ghia, plus cars used on the sets of Batman, Charlie’s Angels, and Mannix. The museum also features nostalgic automobilia such as signs and gas pumps from yesteryear. The museum is a nonprofit organization dedicated to preserving rare classic cars for public enjoyment.

The new location at 4825 N Sabino Canyon Rd is ideally situated within one mile of the popular Sabino Canyon Recreation Area, which attracts over a million visitors annually. This strategic location offers excellent visibility and accessibility for the museum’s expansion.

Additionally, the current museum site at 990 S Cherry Avenue is now available for sale. This 21,518-square-foot property is perfect for a manufacturing or warehouse facility. Interested parties should contact Paul Hooker for more details.

Cushman & Wakefield | PICOR is proud to be a part of the Tucson Auto Museum’s growth and looks forward to witnessing its continued expansion and sharing its passion for rare classic cars.