Land Sales, Shell /Subway, Walmart and Gem Show Site

The Carioca Company (Marvin Rose, president) through its affiliate RG3 LLC bought 5.77 acres at Rita Tech Park at the northeast corner of I-10 and Rita Road in Tucson for $1.5 million ($6 PSF). Carioca is a Shell gas distributor / Convenience store and Subway franchisee, founded in 1972, that now owns 42 Shell stations across Arizona. The Phoenix-based company employs approximately 800 people.

Jim Edwards with Rein & Grossoehme Commercial Real Estate in Scottsdale represented the buyer and had this to say, “The buyer likes growing areas on the outskirts of town and Rita Tech Park in southeast Tucson met all the criteria. The property has visibility and signage from I-10 and is adjacent to the University of Arizona Science and Tech Park and Target Distribution Center in an expanding part of town.”

Jerry Hawkins with CBRE in Tucson and John Rehling with CBRE in Phoenix represented the seller, Diamond Ventures of Tucson (Bill Kelley, CFO) in the transaction.

To learn more Hawkins can be reached at 520.323.5100, Rehling is at 602.735.5555, and Edwards should be contacted at 480.214.9400. For additional information see RED Comp #2801.

In a separate transaction, a Walmart Neighborhood Market will be the first to go vertical at a new retail center at the southwest corner of Tucson Blvd and Drexel Road in Tucson, a portion of Tucson Airport Commerce Center. Walmart paid $1.34 million ($6 PSF) for the 5.1 acres for construction of a 4,100-square-foot Neighborhood Store.

Alex Clark with B.D. Baker Company of Scottsdale represented Walmart in the transaction and the seller, Diamond Ventures of Tucson was represented by Bill Kelley, CFO.

Shannon Murphy with DVI Realty and Diamond Venture will be marketing three additional pads and shop space at this new center.

To learn more Clark can be reached at 480.951.4377 and Murphy should be reached at 520.577.0200. For additional information see RED Comp #2862.

The Tucson Gem and Mineral Show will be back at the Clarion Hotel at 4550 S Palo Verde Road in Tucson after Daniel Duke purchased 4.79 acres for $875,000 ($4.19 PSF) specifically for this purpose. Duke is president of Gem Marketing International and an organizer of the Tucson Gem and Mineral Show, with several sites in town.

Norm Hoegger with Norman Hoegger Realty of Tucson represented the buyer. Hoegger said, “Last year the Gem and Mineral Show was not at this location for the first time in a long while and it was sorely missed. That will now be corrected going forward. Located adjacent to the Clarion, the Gem Show site benefits from use of the Holidome and Clarion Hotel.”

Jerry Hawkins with CBRE in Tucson represented the seller, Raka Hospitality Tucson LLC of Vancouver, British Columbia Canada in this transaction.

To learn more Hoegger should be reached at 520.745.6598 and Hawkins at 520.323.5100. For additional information see RED Comp #2839.