Property located in one of Tucson’s main retail hubs
PHOENIX, Ariz. – Cushman & Wakefield announced the firm has brokered the absolute net leased sale of a freestanding retail restaurant asset in Tucson, Arizona for $6.1 million.
The 8,080-square-foot Class A building is located at 4270 N Oracle Rd and is fully leased to a national restaurant and brewhouse brand, which operates hundreds of stores in dozens of states in the U.S.
The building is an outparcel of the Oracle Wetmore Shopping Center that is anchored by several national anchor tenants.
The property was acquired by Idaho-based DTFP, LLC and the seller was RJR Tucson, LLC. Chris Hollenbeck and Shane Carter with Cushman & Wakefield in Phoenix represented the seller in the transaction.
“This was a strong investment opportunity of a trophy-grade Class A retail property that is fully leased to a national credit tenant,” said Chris Hollenbeck. “The tenant has been operating at this location for many years and recently signed a long-term extension indicating its commitment to this location, situated in one of Tucson’s best trade areas.”
The property is located at the intersection of Oracle Rd & Wetmore Rd that produces very heavy traffic and visibility, and with a densely populated trade area. The Oracle Road corridor is one of the main retail hubs in Tucson, and the Tucson Mall, a super-regional mall, and Tucson Auto Mall are both just north of the site.
To learn more, see RED Comp #8896.