LDS Church Buys Marana Retail Building for $4.1 Million

image_pdfimage_print

MARANA, ARIZONA — The Church of Jesus Christ of Latter-day Saints purchased the former Monark/Westar Kitchen & Bath and former Mattress Firm store for $4.1 million ($109 PSF) .  from Vincenza, LLC (Elyse C Sioles Trust, member).

The 37,627-square-feet of retail space is located at 3850-3858 W. Orange Grove Rd. at the northwest corner of Thornydale and Orange in Marana with monument signage. Although the use for the property by new owner was not yet disclosed, we were told it would have a retail component to it. The property is zoned heavy industrial in Marana with excellent Interstate 10 proximity

Monark Premium Appliances, the existing tenant in a portion of the building, vacates on December 31, 2019.

Principals with Cushman & Wakefield | PICOR, Dave Hammack, Retail Specialist, Russell W. Hall, SIOR, GSCS, and Stephen D. Cohen, Industrial Specialists, represented the seller in this transaction.  Nancy McClure, Carol Schillne, Erik Simper with CBRE, Tucson, Phoenix and Salt Lake City respectively, represented the buyer.

For more information, Hammack can be reached at 520.546.2712, while Cohen is at 520.546.2750. McClure should be contacted at 520.323.5117.

To learn more, see RED Comp #7355.

 

Leave a Reply