TUCSON, AZ — OVP Lot 10, LLC of Tucson (Kevin Morrissey, manager) purchased 0.26 acres of land at Old Vail Plaza for $715,000 ($62.36 PSF). Located on the Northeast corner of Houghton Road & Old Vail Road, across from Houghton Town Center, and adjacent to the Rita Ranch Vail Community in Tucson.
The property sold ready-to-build with roads and all infrastructure in place. The buyer plans to develop a multi-tenant retail building of approximately 7,200 square feet on this pad that will join such tenants as Native Grill, Taco Bell and Freddy’s Steakburger at the center.
The building plans also show a drive-thru at the easterly end-cap.
Nancy McClure and Michael Laatsch with CBRE in Tucson represented the seller, a local group of developers, in the transaction and McClure and Jesse Blum with CBRE of Tucson will handle the leasing of the new building.
McClure says there has already been interest shown in a portion of the building by a restaurant tenant and they hope to pre-lease the entire building before completion.
For additional information, McClure can be contacted at 520.323.5117, Laatsch should be reached at 520.323.5191, and Blum can be called at 520.323.5185.
To learn more, see RED Comp #4203.