Former Chuy’s on 22nd Street is Sold to Find a New Tenant

TUCSON, ARIZONA – The former Chuy’s Mesquite Broiler at 7101 East 22nd Street in Tucson sold vacant for $950,000 ($378.49 PSF).

The restaurant was on a year-to-year lease and closed in January 2023. It was purchased by local investors to renovate for a new owner user.

It is an approximate 2,500-square foot single-tenant retail building on an estimated .49 acres of land, built in 1968.

It is located on the hard signalized corner of 22nd Street and Kolb Road within Palo Verde Plaza. Surrounding tenants within the plaza include Goodwill, Payless, Popeyes, Filiberto’s, Pep Boys, Arby’s and Desert Rat. Across the street from the subject property is a Toyota dealership, 99 cent store, Jack in the Box, Starbucks, SmashBurger, McDonald’s, Bank of America, Wells Fargo, Sally Beauty Supply, ACE Hardware, Brake Masters, Enterprise and Tucson Bowl. Palo Verde High School is also located just one block from the property.

Located in a dense infill location, the property is surrounded by rooftops and approximately 218,000+ residents within a five-mile radius. The property also benefits from the 97,000+ daily traffic counts along 22nd Street and Kolb Road.

The buyer is Tangerine Gateway, Cameron Lee, member, is a real estate broker with David Lee Real Estate Company in Tucson. The seller, Taie Hyon Yu, is a California investor who purchased the property in 2018.

For more information, contact Lee at 520.954.8008.

To learn more, see RED Comp #10821.




Extra Space Storage Facility on Country Club Sells for $19+ Million

TUCSON, AZ (September 13, 2023) – The Extra Space Storage Facility at 2538 N Country Club Rd sold for $19,030,000, or $27,985 per unit, for the 680-unit climate-controlled facility.

VRE Storage Tucson, a Verdad Real Estate and Construction Services affiliate,  purchased the former Art Institute of Tucson building in October 2021 for $3.6 million to convert it into a self-storage. Verdad partners with Extra Space Storage and has a second facility at 770 N Kolb in Tucson.

The 50,458 square feet of buildings sit on 3.2 acres on Country Club, north of Grant Road in Tucson.

The transaction closed on August 30, 2023.

The investor is RPC Country Club Storage, LLC, of Dallas, Texas, c/o Greg Bates, manager.

The buyer and seller were self-represented in the transaction.

To learn more, see RED Comp #10875.




Tucson’s Latest Starbucks Coming to Grant & Campbell

TUCSON, AZ (September 8, 2023) A new Starbucks is planned for 2350 N Campbell Avenue in Tucson, at the southeast corner of Grant Road and Campbell Avenue, adjacent to the whale art mural and the former Catalina Theater at 2320 N Campbell Ave, owned by Banner Health Group as a training facility. The 19th Starbucks for metro Tucson.

The 1.05-acre site sold for $1.8 million ($39.32 PSF) to construct an approximate 2,408-square-foot Starbucks building with a drive-thru. The site previously contained a structure with a basement that was razed.

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 35,000 stores worldwide, the company is the world’s premier roaster and retailer of specialty coffee. Through an unwavering commitment to excellence as its guiding principle, the unique Starbucks Experience is brought to life for every customer through every cup.

Rob Tomlinson and Greg Furrier of Cushman and Wakefield | PICOR, handled the transaction. The seller, a joint venture between Holualoa, Palice Inc., Scotia Group, Ltd. Princeville Properties, and the Robert L Davis Trust, purchased the property in 2005 as a larger land area. The buyer, GrantCampbell SBUX, LLC, an affiliate of Ecosta Development of Littleton, CO, c/o Erice Costa, the developer.

For additional information, Tomlinson can be reached at 520.546.2757 and Furrier at 520.909.6111.

To learn more, see RED Comp #10834.