TUCSON, ARIZONA, October 4, 2022 – The Culver’s restaurant at 1955 W Valencia Road in Tucson sold in a sale leaseback for $3.72 million ($852 PSF).
Rated by Forbes as the 3rd best high-investment franchise in 2019, Culver's is a privately owned and operated American casual fast food restaurant chain known for their signature ButterBurgers and Frozen Custard. Other signature menu items include cheese curds, chicken sandwiches, fish, french fries, and salads, established in 2011.
The property was built in 2019 and franchisee, Kyle Kolsrud has occupied it since built. Kolsrud owns and operates three other Culver’s in the Greater Tucson area and another one in the Phoenix market.
The seller will continue to occupy as a tenant in a new 20-year leaseback agreement with four 5-year options.
Joshua Johnson with Marcus & Millichap in Palo Alto represented the buyer, a San Jose, California investor. Chris Lind and Nicholas Christifulli with Marcus & Millichap in Phoenix represented the seller.
For more information, Lind can be reached at 602.687.6780 and Christifulli is at 602.687.6700.
To learn more, see RED Comp #10170.