TUCSON, AZ (May 12, 206) — A two-tenant retail property occupied by Prep & Pastry on Grant and Sauce Pizza & Wine at 6450 E. Grant Road in Tucson sold for $3,850,000 in an investment sale.
The buyer was Lippow/Bablak 1 LLC and Lippow/Kyrene 1 LLC, affiliates of Lippow Development Company of Martinez, California. The seller was Grant Wilmot Retail LLC of Tucson.
The 6,094-square-foot retail building was constructed in 2015 on approximately 0.86 acres at the Grant Road commercial corridor in Tucson’s northeast submarket. The sale price equates to approximately $631.77 per square foot. The property includes two restaurant units and approximately 50 parking spaces.
The transaction was completed as a 1031 exchange for the buyer, who also owns the nearby Zinburger property and is expanding its investment portfolio in the area.
David Carroll of Paul Ash Commercial Real Estate handled the sale for the buyer and can be reached at 520.795.2100.
Prep & Pastry is a popular Tucson-based breakfast-and-brunch concept, while Sauce Pizza & Wine is a fast-casual restaurant brand known for pizza, pasta, salads, and wine. Their tenancy gives the property strong restaurant visibility along one of Tucson’s established east-side retail corridors.
Source: RED Comp #12476