TUCSON, AZ (February 7, 2024) – Two former bank branch buildings at 5502 and 5520 E Grant Road, the southeast corner of Grant and Craycroft in Tucson, sold for $2.2 million ($239 PSF).
The two bank buildings, constructed in 1983, were formerly a Bank of America and a Washington Federal bank branch on 1.72 acres.
Bank of America was the seller, and the transaction closed on January 31, 2024.
The buyer, HungryPeak 1, LLC, is an investment group comprised of Texas and Arizona members. One of the buyers told us the purchase was utterly “opportunity-driven” for the redevelopment of one of the “best corners in Tucson.” They are entertaining offers for build-to-suits, ground leases, or outright leases and are willing to redevelop the corner. They have already had interest from QSR tenants.
Located across the street from Tucson Medical Center, it is a high-volume medical and retail-use area with Chuze Fitness and Ross Dress for Less, in this same shopping center.
Regan Amato and Ryan Tanner with JLL of Phoenix handled the transaction, and the buyer has contracted Brian Ghast with Velocity Retail for leasing opportunities.
For more information, Amato and Tanner can be reached at 602.282.6300; for leasing information, contact Ghast at 602.682.8155.
To learn more, see RED Comp #11131.