TUCSON, Arizona – Marlee Saguaro, LLC of Tucson (David Lee, manager) purchased a 5,215-square-foot free standing restaurant at 4499 W. Ina Road in Marana AZ for $680,000 ($130 PSF).
The former Chuy’s Mesquite Broiler was vacant at time of sale on a 52,042-square-foot pad. The buyer owns an adjacent 35,000-square-foot pad to the west of the center and intends to lease either lease or split the pads for redevelopment into three smaller retail pads.
The two-year long Ina Road construction project is on schedule for 2019 completion.
David Lee of David Lee Real Estate represented himself as the buyer. Nancy McClure of CBRE represented the seller, Edwards Ina Lee Mar, LLC in the transaction.
In a separate transaction, Lee Family Property Management, LLLP (David Lee, manager) traded into an Arby’s franchise at 1893 W Grant Road in Tucson for $1.25 million ($411 PSF). The 3,043-square-foot Arby’s sits on a .90-acre pad sold in a net investment sale.
Located in one of Tucson’s high trafficked corridors, near the intersection of Grant Road and I-10, the property is within walking distance of two major industrial and office parks: Grant Road Industrial Center and Broadbent Business Park. Across the street from a Safeway anchored shopping center that includes Walgreens, GNC, Subway, US Bank, and Wells Fargo among others.
The Arby’s is subject to a new 20-year triple-net sale leaseback with Cardinal RB Arizona LLC, an 8-unit Arby’s operator in metropolitan Tucson.
Glen Kunofsky, Edward Otocka and Garaub Reja with Marcus & Millichap’s National Retail Group and the Net Leased Properties Group represented the seller and David Lee of David Lee Real Estate represented himself as the buyer.
For more information on these properties, Lee can be reached at 520.798.3199 and McClure can be contacted at 520.323.5117.
To learn more, see RED Comp # 5187 and #5235.