TUCSON, Arizona  – CBRE has completed the $2.47 million sale of a single-tenant property leased to Dutch Bros Coffee, located at 120 South Wilmot Road in Tucson, Ariz. The 824-square-foot building is on the southwest corner of Broadway Boulevard and Wilmot Road, which benefits from high traffic counts of over 80,000 vehicles per day.

Joseph R. Compagno with CBRE’s Phoenix office represented the seller, Oregon-based, Cole Valley Partners. Sunny Gill of Habitat Investment Advisors represented the buyer, Calif.-based LD Enterprises, LLC.

“The California Buyer paid a 4.85% cap rate for a long-term 15-year corporate lease and placed new financing on the property through CBRE,” said CBRE’s Compagno. “The buyer was attracted to the property’s infill location and to Dutch Bros’ overall success. Additionally, we are seeing strong demand from investors looking for new single-tenant investments leased to coffee users.“

Dutch Bros Coffee was founded in Oregon in 1992 and has over 300 locations in seven States. This location is their first in Tucson and celebrated their grand opening on October 9th with free coffees.

To learn more, see RED Comp #6331.

TUCSON, ARIZONA — Stonebriar Commercial Finance Realty Capital, dba SCF RC Funding IV LLC, of Princeton, NJ purchased the property at 3920 E Grant Road in Tucson for $4.2 Million ($83 PSF).

The 50,688-square-foot former Fry’s store and gas pad on 4.96 acres at the southeast corner of Alvernon and Grant had been closed for about a year and will be redeveloped for a VASA Fitness Center.

VASA Fitness has been expanding rapidly in the Phoenix area and recently announced two new locations set to open by the end of 2019, and one that is set to open Spring 2019. They have already started selling memberships for these Phoenix locations and have opened the door to their first preview center in Chandler on October 1, 2018.

VASA Fitness, an Orem Utah based company, is a full amenity fitness center whose mission is to UPLIFT everyone through fun and happy fitness. The amenities that will be featured at these brand-new Arizona locations are:

• Cardio & Weights
• Olympic Lifting Area
• Studio Cycle Classes
• Basketball Court
• Fitness Cinema
• Group Fitness Classes
• Hydro-Massage Lounge
• KidCare Facilities
• Pool, Spa & Sauna
• Personal & Group Training
• Tanning & more!

The property in Tucson was sold by Smith’s Food and Drug Centers, Inc. from Denver, Colorado. Tyson Switzenberg of JLL in Phoenix represented the seller in the transaction.

There was no opening date announced for the Tucson VASA Fitness.

Stonebriar Commercial Finance is a rapidly growing diversified commercial finance company seeking to provide creative financing solutions for middle market and unrated borrowers that are underserved in the current market from a capital perspective.

To learn more, see RED Comp #6280.

TUCSON, Arizona – Tucson-based Mister Car Wash continues to expand, now with 266 car washes it operates in 21 states. Prior to this year the company had grown through acquisitions and recently opened two new locations built and developed by and for Mister Car Wash in Iowa and Utah.

The new product being developed by Mister Car Wash will be brought home to Tucson soon at the Bridges, a successful mixed-use project at the northwest corner of I-10 and Kino Parkway, as soon as permits and entitlements are complete on a pad to the north of Discount Tire. The Bridges includes 112-acres of retail development, in addition to the 65-acre UA Tech Park and 175-acres of residential development.

Costco, Walmart, Cinemark Theater, Planet Fitness and Dave & Buster’s anchor the retail component, known as  Tucson Marketplace at The Bridges.

Another car wash was sold recently at 320 W Irvington Road in Tucson for $320,000 to the owner of the adjacent Las Palmas Bar at 332 W Irvington Road, Arizu’s Holding Company. It was purchased for additional parking.

Mister Car Wash represented itself in the sale and Aaron LaPrise with Cushman & Wakefield | Picor is handling new acquisitions for the company.

For information about services and career opportunities with Mister Car Wash, please visit www.mistercarwash.com.

To learn more, see RED Comp #6236.