TUCSON, Arizona – El Pollo Loco at 3781 W Ina Road sold for $2.56 million ($771 PSF) in an investment sale. The former Burger King restaurant site was sold and converted by WKS Restaurant Group (Roland Spongberg, CEO) in 2015 to El Pollo Loco.

Headquartered in Lakewood, California, WKS Restaurant Group is a licensed franchisee of four restaurant brands, El Pollo Loco, Denny’s, Krispy Kreme Doughnuts, and Corner Bakery Café.

The 3,320-square-foot building was built in 1986 on a 38,000-square-foot prime corner pad in the North Pima Center, west of Ina and Thornydale, in Marana, Arizona. El Polla Loco will continue to occupy the property as part of the sale leaseback agreement.

At El Pollo Loco, pronounced “L Po-yo Lo-co” and Spanish for “The Crazy Chicken,” they say they go to crazy lengths for the signature citrus-marinated, fire-grilled chicken. The whole chicken is fire-grilled, hand-cut, and served with our chicken meals, bowls, burritos, salads, soups, tacos and quesadillas. We apply the same passion to our handmade guacamole, salsas and dressings every day. To sum it up, They say “It’s Crazy You Can Taste”.

Vahn Saroians with Coldwell Banker in Los Angeles represented the buyer, a private investor from San Diego, California.

For more information, Spongberg can be reached at 562.425.1402 and Saroians is at 323.665.5841.

To learn more, see RED Comp #4360.

KB Homes has New Infill Subdivision in Northwest

TUCSON, Arizona — KB Home closed on a 17+ acres for a new infill project at the southwest corner of La Cholla and Corral Ridge Loop in Northwest Tucson near OMNI Tucson National Golf Resort. The property commanded a sale price of $5.4 million. KB Homes purchased the land from HSL Properties of Tucson.

The property sold as raw land with number of lots still undetermined by KB Homes. A portion of The Fairways at Tucson National II subdivision, the subdivision is being rebranded Montaretto Estates according to the billboard.

Will White and John Carrol of the Land Advisors Organization in Tucson facilitated the transaction for buyer and seller.

“We are continuing to see high demand for better infill sites. These opportunities are becoming fewer and farther between and this is another great example of identifying a great location and being proactive when the right opportunity presents itself,” White said.

“This is one of Tucson’s better infill locations and sites. Close to so many amenities and a property with great access and views. It’s very rare to find all these attributes come together these days. It is a great site,” continued White.

White and Carrol should be reached at 520.514.7454 for more information.

To learn more, see RED Comp #4356.

Pepper Viner Homes adds Elementary School Site in Northeast

Pepper Viner Homes purchased the Eastside Van Horne Elementary School from Tucson Unified School District for $1.4 million. The buyer paid for rezoning to R-1, platting and engineering costs of the 9 acres.

Pepper Viner is expected to pay $32,500 per lot for infrastructure improvements, which makes the cost to buyer approximately $3.16 million, with an average lot size of 40’ x 100’.

Van Horne Elementary School opened in 1975. It is named after James “Doc” Van Horne, an administrator, teacher and coach who served at Tucson and Pueblo high schools before retiring in 1959. The school that has been boarded-up school since 2010 and was torn down for the 54-SFR lot infill project this month.

Van Horne Elementary School was one of several schools that TUSD closed because of declining enrollment and state budget cuts several years ago.

The district says it has lost more than $20 million in capital funding since 2008.

Proceeds from public school sales, by law, must go to capital projects such as maintenance of existing schools. The money cannot go toward salaries or raises.

James Marian, CCIM, with Chapman Lindsey Commercial Real Estate Services in Tucson handled the transaction for the buyer.

For more information, Marian can be reached at 520.747.4000.

To learn more, see RED Comp #4357.

TUCSON, Arizona — Larsen Baker of Tucson (George Larsen, principal) purchased a 6,894-square-foot retail building located at 7285 E. Tanque Verde Rd. in Tucson, from The Price Group, LLC for $1.194 million ($173 PSF).

The property was formerly a personal training / fitness center, most recently doing business as Marcel’s Total Fitness, that relocated to 7770 E Wrightstown Road. The building was vacant at time of closing and perfect for Larsen Baker’s tenant in tow, Texas-based Neighbors Health System which was ready to lease it for an emergency care center.

Founded in 2008 by a group of emergency room physicians wanting to make lives better for patients by providing them with a more personalized ER experience, NEIGHBORS EMERGENCY CENTER has completely re-imagined emergency care.

Neighbors Emergency Center, an industry leader in freestanding emergency medical care, specializes in personalized ER attention with little wait time and no crowded waiting areas. Neighbors offers an on-site laboratory and imaging services of X-Ray, CT Scans and Ultrasounds. Local board-certified doctors and medical teams with emergency room experience treat all adult and pediatric emergencies.

Besides personalized ER care with short wait times, Neighbors will also bring approximately 30 jobs to the area economy by hiring local board-certified physicians and medical teams with emergency room experience to treat all adult and pediatric emergencies.

Neighbors currently has 29 centers open, with plans for growth extending into 2017 with more centers opening throughout Arizona, Texas and other states. This will be Neighbors first center in Arizona.

“We also know that during these critical times, it is imperative to make the experience as comforting and stress-free as possible,” said Dr. Setul G. Patel, CEO of Neighbors. “This is why we focus on providing compassionate, genuine, respectful, and thoughtful personalized care. Ensuring patient and family satisfaction is a key passion of ours and we make it a priority to not only meet, but exceed patient expectations.”

All companies under the Neighbors Health umbrella are committed to the universal goal of making lives better.

Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller. George Larsen, Andy Seleznov and Melissa Lal with Larsen Baker, LLC, represented the buyer in the transaction.

For more information, Tomlinson can be reached 520.546.2757 and Larsen, Seleznov and Lal can be contacted at 520.296.0200.

To learn more, see RED Comp #4337.