Marana Marketplace Footprint Pads Sell for a combined total of $2.4 Million

MARANA, ARIZONA – An affiliate of Larsen Baker, Marana Marketplace Partners, LLC (George Larsen, manager) sold two pads recently at Marana Marketplace at the southwest corner of Orange Grove and Thornydale Roads in Marana, Arizona.

The first transaction, lot 2, is 18,381-square-feet and sold for $1.025 million ($55.76 PSF) to HZ Props RE Ltd., a Texas company that purchased it for construction of an approximate 2,800-square-foot Popeye’s restaurant with drive-thru.

Morgan Danhoff and David Cheatham with Velocity Retail Group of Phoenix represented the buyer, a developer for Popeye’s, and Andy Seleznov and Mellisa Lal with Larsen Baker represented the seller.

For additional information, Danhoff and Cheatham can be reached at 602.682.8100 and Seleznov and Lal should be contacted at 520.296.0200.

To learn more, see RED Comp #5806.

Freddy’s Frozen Custard & Steakburger bought the leased fee interest in an approximate 16,000-square-foot pad for $1,418,143 ($88.63 PSF). The buyer already owned the improvements and had a leasehold on the land.

Freddy’s had the ground lease at 3725 W Orange Grove Road since 2012 and exercised an option to purchase.

Andy Seleznov and Melissa Lal with Larsen Baker represented the seller in the transaction.

For more information, Seleznov and Lal can be reached at 520.296.0200.

To learn more, see RED Comp #5811.