Oregano’s Pizza Bistro Ground Lease at The Landing Sells For $1.67 Million

Oregano’s Pizza Bistro, 4884 S Landing Way, Tucson, AZ

TUCSON, ARIZONA – The ground lease for Oregano’s Pizza Bistro at 4884 S Landing Way at the Irvington and I-19 Commercial Center, Tucson’s The Landing Shopping Center sold for $1.67 million ($53.40 PSF).  The 31,275-square-foot pad sold in this transaction. Built in 2017, the 3,520-square-foot building was already owned by the buyer, Lloyd Thompson of Medford, Oregon and the lease with Oregano staying in place.

Developer of The Landing is an affiliate of Bourn Companies, Irvington Interstate Partners, LLC (Don Bourn, Manager).

Jamie Medress with Marcus & Millichap of Phoenix handled the ground lease sale for the seller.

Other new construction activity at The Landing include a new 5,500-square-foot Red Robin restaurant scheduled to open on September 3, 2018.

There will soon be two new anchors opening at The Landing; Planet Fitness and Hobby Lobby both freestanding buildings are under construction.

Brigham “Brig” Stevens, Asset Manager at Bourn Cos. told us The Landing has attracted several other tenants announced last year by Bourn Cos., including T-Mobile, Jersey Mike’s Subs, Southern Arizona Urgent Care, Long Realty, Chipotle and Taco Bell.

For more information on opportunities at The Landing, Medress should be contacted at 602.687.6700 and Stevens can be reached at 520.318.6717.

To learn more, see RED Comp #6068