The former John Jacob’s, El Parador Restaurant was sold by HSBC Bank to a local real-estate investment firm, Semro Family Investments (Don Semro) of Tucson, for $410,381 ($10.63 PSF), land value of the C-2 zoned, 38,406-square-foot lot at 2744 E. Broadway Blvd in Tucson.
Located at the southwest corner of Broadway and Treat Avenue, the 15,556-square-foot restaurant building, that was first started in 1956 and constructed in phases over the years, will be razed all or portion driven by user needs, as the lot is being marketed for redevelopment as a build-to-suit. The marque signage on Broadway will stay.
El Parador had been at this location since 1975, and will always be remembered for its tropical gardens and Mexican cuisine. Honored as one of ‘Tucson’s Treasures’ by Arizona Highways in 2010 that said, “no other place exemplified the warmth of Tucson like El Parador… it’s floor to ceiling plants adorned with twinkle lights and beautiful 65 year old flagstone floors welcomed you each time you entered.” The restaurant closed its doors after 40 years in July 2013.
Ron Zimmerman and Greg Furrier of Cushman & Wakefield | Picor handled the sale of the property.
Tyler Chester and John Schweikert of Phoenix Commercial Advisors will be marketing the lot for Semro.
To learn more Zimmerman and Furrier should be reached at 520.748.7100 and Chester and Schweikert can be contacted at 602.957.9800