The Macayo's Mexican restaurant building at 7360 N Oracle Road in Tucson sold for $1.5 million ($186 PSF) to JML Property LLC (Emma Vera, manager) of Tucson, the owner of Guadalajara Original Grill.
The 8,065-square-foot building sits on .84 acres located north of Ina on Oracle Road in the Catalina Village Shopping Center. Built in 1986, at now one of the busiest intersections in Tucson, with over 65,800 vehicles per day on Oracle and 37,500 vehicles per day on Ina Road.
Vera plans to renovate and rebrand the property to Guadalajara Original North to differentiate it from the current Guadalajara Original Grill at 1220 E Prince Road in Tucson. Both will carry the same food and drink menu, with tableside salsa and a sizable margarita list. The owner plans to hire about 55 people.
Macayo's, which is part of a Phoenix chain of restaurants with one other Tucson location, had leased the property since the early '80s and occupied it right up until the closing of this transaction.
Pete Villaescusa and Jesse Peron with CBRE in Tucson handled the lease termination for the tenant. Rob Tomlinson with Cushman & Wakefield | Picor represented the seller, Robert & Eileen Pierides in the sale. Rick Borane with Volk Company represented the buyer.
To watch for opening news and general info, follow the restaurant on Facebook at facebook.com/GuadalajaraOriginalGrill
For more information, Villaescusa can be reached at 520.323.5112, Peron is at 520.323.5130. Tomlinson should be contacted at 520.546.2757 and Borane can be called at 520.326.3200.
To learn more, see RED Comp #4049