Tucson Lease Report – April 6 – 10, 2015

Tucson Lease Report
Tucson Lease Report

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from April 6 thru April 10, 2015.

INDUSTRIAL – 6401 S. COUNTRY CLUB RD., TUCSON, AZ
Atronix, Inc. leased 3,569-square-feet at 6401 S. Country Club Rd., Suite 101 in Tucson from APB LLC.  Patrick Welchert, SIOR and Jeff Zellet with Cushman & Wakefield | PICOR, represented the landlord and Michael Coretz with Commercial Real Estate Group of Tucson, represented the tenant in this transaction. [mepr-show rules=”58038″]Asking rate: $0.60 – $0.70 SF/MO NNN; Tenant Phone: 520.290.9987[/mepr-show]

RETAIL – 7077 N. THORNYDALE RD., TUCSON, AZ
BBQ 1183, LLC, dba Dickey’s Barbecue Pit leased 2,400-square-feet at 7077 North Thornydale Road, Suite A3 Tucson. The space is located within Thornydale Plaza, a Target and Lowe’s anchored center at the southwest corner of Ina and Thornydale. Tim Gunnink of Newmark GDC/RE represented the tenant. Dave Hammack of Volk Company represented the landlord, I.T. Investments Two, L.L.C. [mepr-show rules=”58038″]Tenant Phone: 520.219.5742[/mepr-show]

RETAIL – 11651 N. CASA GRANDE HWY., MARANA, AZ
Best in the West Golf Cars, LLC leased 1,850-square-feet at 11651 N. Casa Grande Highway in Marana from BIR, LLC.  Jeff Zellet and Patrick Welchert, SIOR, with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.730.6378[/mepr-show]

OFFICE – 100 N. STONE AVE., TUCSON, AZ
Defenders of Wildlife has leased 1,574-square-feet at 100 N. Stone Ave., Suite 807, from Holualoa Pioneer, LLC.  Doug Marsh and Lori Casey of Oxford Realty Advisors represented the Tenant and David Volk and Bruce Suppes of CBRE represented the Landlord in the transaction. [mepr-show rules=”58038″]Asking rate: $17.00 SF/YR Full Service; Tenant Phone: 520.623.9653[/mepr-show]

OFFICE – 4770 E. GRANT RD., TUCSON, AZ
The Joint Corp leased 1,500-square-feet at 4770 East Grant Road Tucson. The tenant plans to open a chiropractic office. The space is located at the southeast corner of Grant and Swan within Grant and Swan Shopping Center, which is anchored by Petsmart and Trader Joe’s. Douglas Jerum of Ferrara Jerum International, LLC represented the Tenant. Dave Hammack of Volk Company represented the landlord, C & C Land and Cattle Company Limited Partnership, L.L.P.

RETAIL – 7119 N. ORACLE RD., TUCSON, AZ
Southern Arizona Arts Guild, dba SAAG Gallery leased 1,107-square-feet at 7119 North Oracle Road, Tucson. The space is located within Casas Adobes Plaza, an upscale retail center anchored by Whole Foods at the southwest corner of Ina and Oracle. Other tenants in the center include Wildflower Grill, Sauce, Pei Wei, Chipotle, Frost Gelato, Chico’s, Loop Jeans, and J. Gilbert. Brenna Lacey and Dave Hammack of Volk Company represented the landlord, GRI Brookside Shops, LLC. [mepr-show rules=”58038″]Tenant Phone: 520.437.7820[/mepr-show]

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Casas Adobes Plaza Commands a Sale Price of $46 Million

New Whole Foods store at Casas Adobe Plaza, Tucson
Newly built,  Whole Foods Market at Casas Adobe Plaza, Tucson

TUCSON, AZ – Lee & Associates is pleased to announce the sale of the Casas Adobes Plaza, an upscale retail shopping center in Tucson for $46 Million ($504 PSF).

Casas Adobes Plaza is an iconic 91,318-square-foot, grocery-anchored specialty shopping center, strategically located at the Southwest corner of Ina and Oracle roads in an affluent area of north Tucson. It is anchored by a new Whole Foods that opened this past August.

Jan Fincham and Patrick Dempsey, principals with Lee & Associates in Phoenix, facilitated the transaction on behalf of their Institutional client, GRI Investors of Bethesda, Maryland. The seller was Casas Adobes Plaza LLC of Tucson (Richard Shenkarow, manager) a private investment group.

“This acquisition was an opportunity for our Institutional client to acquire a Class A infill, upscale grocery and specialty center in an affluent area in the Catalina Foothills of north Tucson Arizona,” said Dempsey. Casas Adobes Plaza features national, regional and specialty tenants such as Whole Foods, Starbuck’s, Chipotle, Pei Wei Asian Diner, Jos. A Bank Clothier, Chico’s, Sauce, Loop Jean Company and a Wildflower restaurant.

Dempsey and Fincham also sold the Whole Foods anchored River Center at Craycroft and River about this same time last year for $24.8 million to the same investor. See https://realestatedaily-news.com/river-center-sells-24-8-million-first-tucson-retail-sale-2014/ for full story, or RED Comp #1068.

To learn more, contact Dempsey at 602.954.3772 and Fincham at 602.954.3754. Shekarow of Shenkarow Realty Advisors can be reached at 520.299.2610.

For additional information, login or see RED Comp #2685

[mepr-show rules=”58038″]Sale Date: 2/23/2015. APNs: 102-04-076, 077A, 077B, 078, 079, 080A, 081, 082A, 084, 086 & 120. Cap rate was approximately 5.5%[/mepr-show]




Openings & Closings Around Tucson

Open ClosedCHRISTIE’S APPLIANCE CLOSING AT BROADWAY & WILMOT
Christie’s Appliance will be moving out of the Wilmot Plaza at Broadway & Wilmot. Christie’s Appliance has leased a 14,437-square-feet space at Joann’s Center, located on Broadway Blvd, just east of Kolb Rd. The Premises will be used for the retail sale of home appliances, furniture, electronics, mattresses and for related products and services. They are scheduled to open for business January 2015. Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while Craig Finfrock of Commercial Retail Advisors, represented the Tenant.

WHOLE FOODS MARKET AT CASAS ADOBES PLAZA TO OPEN AUG. 27
The newly re-constructed Whole Foods Market at Casas Adobes Plaza, 7133 North Oracle Road will open its doors this week, on Wednesday, August 27 to the public. Previously the store was 16,000-square-feet, it has now doubled to 32,000-square-feet and will feature a dine-in restaurant with 45 seats and additional seating on the patio. The redevelopment razed the building where Starbucks and Einstein Bagels had previously occupied to make room for the expansion.

RILLITO MARKETPLACE TO OPEN IN THE FALL
Pima County is constructing a 12-foot-wide paved path about 600 feet long with three 110-foot-long Ramadas to shade shoppers at Pima County’s Rillito Regional Park, 4502 N. First Ave. in Tucson. Vendors will set up in gravel areas along the paved pathway. Construction of an outdoor marketplace is underway. The marketplace will be in the southeast corner of the park and is expected to be completed by mid-October. The Heirloom Farmers Market is temporarily located west of the Rillito Regional Park during construction and runs from 8 a.m. to noon every Sunday.

JACKSON TAVERN TO OPEN AT PLAZA PALOMINO IN FALL
Later this Fall, Brian Metzger plans to bring Jackson Tavern, named after Metzger’s son ‘Jackson’, to the 3,700-square-feet formerly occupied by Red Sky Cafe at 2900 N. Swan Road in Plaza Palomino. Serving a menu of New England comfort foods and craft beers the Chef, Virginia “Ginny” Wooters is still finalizing the menu. The restaurant will feature a tree-shaded picnic area with tables and chairs and an ice cream stand serving scoops of Ice Cream. Burak Bekat of 23 Studios is architect of the project. Metzger’s first restaurant was o the northwest side of town, Jax Kitchen closed in January. He then opened Poppy Kitchen at La Paloma Resort & Spa, 3770 E Sunrise Drive in March. A bankruptcy filing in May turned over operation of The Abbey at 6960 E Sunrise Drive to his former wife, Sandy Ford in mid-July as part of the divorce settlement. Metzger also has Gio Taco at 350 E. Congress St. downtown, which opened in December.

OFFICE DEPOT CLOSING AT 7220 E BROADWAY
The Office Depot has announced it is closing its doors at 7220 E. Broadway at the end of business Sept. 6. Office Depot acquired OfficeMax Inc. last year, and plans to close at least 400 locations in the U.S. to reduce overlap between the two businesses over the next several years, 165 of those by the end of this year. There are nine other Office Depot and OfficeMax locations in the Tucson area, including an OfficeMax on East Broadway at Craycroft Road, closest to this location.

FIREHOUSE SUBS OPENS NEAR TUCSON MALL
Three years after Firehouse Subs opened in Marana, a second opened Monday near the Tucson Mall. The restaurant is operated by Kristi and Lee Transue, the daughter and son-in-law of the Marana owners Bob and Jo Anne Westerman, who opened Firehouse at 3844 W. River Road in the Marana Marketplace, in summer 2011. Firehouse is a national chain born in Florida in 1994. It sells sandwiches that take their names from fire department lingo including “fully involved” Engineer and a turkey sandwich called the Hook & Ladder. The new restaurant at 475 W. Wetmore Road is open from 10 a.m. to 9 p.m. Sundays through Thursdays and from 10 a.m. to 10 p.m. Fridays and Saturdays

If you know of any openings and closings, please let us know at REDailyNews@outlook.com