California-based, Taco Bell Corporate sold four Tucson stores to a franchisee, CLC Tucson Properties, LLC of Montana (Craig Langel, president) for $5.04 million. The buyer already owned other Taco Bell franchises in Montana.
The store locations are as follows:
6616 E Grant Road in Tucson sold for $1.235 million for a 2,370-square-foot building (built 2009) on 24,071-square-feet located at Grant and Tanque Verde Roads;
10815 N Oracle Road in Oro Valley sold for $1.46 million for a 2,818-square-foot building (built 2012) on 19,419-square-feet located at First and Oracle Road;
1720 W Speedway Blvd in Tucson sold for $1.183 million for a 2,740-square-foot building (built 2010) on 23,860-square-feet located at Speedway Blvd and Silverbell Road;
2150 W River Road in Tucson sold for $1.165 million for a 2,730-square-foot building (built 2008) on 35,619-square-feet located at River Road and La Cholla Blvd.
Each Taco Bell store location employees approximately 25 employees on average. There were no real estate brokers involved in these sales.
In addition to the stores sold, a lot at Las Plazas sold with the rest of the corporate Taco Bells in the Tucson for $575,000. Nancy McClure and Michael Laatsch with CBRE’s Tucson office negotiated the transactions on behalf of the seller, OVP Development Company, LLC and Terry Dahlstrom of Volk Company represented the buyer.
Since the first restaurant opened in Southern California back in 1962, Taco Bell has been one of the top fast food destinations for those craving something other than hamburgers. Owners of a Taco Bell franchise benefit from the well known “Live Más” slogan and the incredible variety of burritos, nachos, chalupas, tacos and more. In 2012, Taco Bell launched a new line of tacos – Doritos Locos Tacos – that have Nacho Cheese- and Cool Ranch-flavored shells. Specialty items like the Crunchwrap Supreme – tacos that are folded and grilled for convenient one-handed eating – are also extremely popular. The low-fat and low-calorie Fresco Menu and the Cantina Bell Menu, featuring dishes created by celebrity chef Lorena Garcia, have already established loyal followings.
Taco Bell Corp., a subsidiary of Yum! Brands, Inc., (NYSE: YUM), is the nation’s leading Mexican-inspired quick service restaurant. Taco Bell and its more than 350 franchise organization have nearly 6,000 restaurants across the United States that proudly serve more than 36 million customers every week.
For more information see RED Comps #3210, #3223, #3220, #3222, and #3221.