TUCSON, ARIZONA, December 1, 2022 - Popeyes Louisiana Kitchen at 1110 N Stone Ave in Tucson sold as investment for $3.86 million ($1553 PSF) in a sale leaseback transaction.
The 2,488 square-foot building was built in 2019 at the northeast corner of Speedway and Stone Avenue on a .61 acre site.
Property sold full leased to Popeyes on a 20 year triple net lease, with 7.5% rental increased w=very five years and four 5-year option periods.
The buyer was Vista Property Holdings 2, LLC of Lakewood, CO c/o William Meyers and the seller with Amin Dhanani of Sugarland, TX.
Joseph Compagno and Benjamin Farthing with CBRE in Phoenix handled the transaction.
For more information, Compagno should be contacted at 602.403.3783.
To learn more, see RED Compo #10323.