TUCSON, Arizona  – CBRE has completed the $2.47 million sale of a single-tenant property leased to Dutch Bros Coffee, located at 120 South Wilmot Road in Tucson, Ariz. The 824-square-foot building is on the southwest corner of Broadway Boulevard and Wilmot Road, which benefits from high traffic counts of over 80,000 vehicles per day.

Joseph R. Compagno with CBRE’s Phoenix office represented the seller, Oregon-based, Cole Valley Partners. Sunny Gill of Habitat Investment Advisors represented the buyer, Calif.-based LD Enterprises, LLC.

“The California Buyer paid a 4.85% cap rate for a long-term 15-year corporate lease and placed new financing on the property through CBRE,” said CBRE’s Compagno. “The buyer was attracted to the property’s infill location and to Dutch Bros’ overall success. Additionally, we are seeing strong demand from investors looking for new single-tenant investments leased to coffee users.“

Dutch Bros Coffee was founded in Oregon in 1992 and has over 300 locations in seven States. This location is their first in Tucson and celebrated their grand opening on October 9th with free coffees.

To learn more, see RED Comp #6331.

PHOENIX, Arizona – CBRE negotiated the sale of a 10,017-square-foot multi-tenant retail building located at Coldwater Plaza in Avondale, Ariz., for $2.89 million. George Boukather, based in Newport Beach, Calif., acquired the property, located at 1461 N. Dysart Rd., from Sparty Holdings, LLC, based in Great Falls, Va. CBRE’s Steve Julius, Jesse Goldsmith and Joe Compagno represented the seller in the transaction.

Built in 2003, the four-unit building is 87 percent leased to three existing tenants including Red Dragon Buffet, Cricket Wireless and CheckMate. The property is adjacent to Sam’s Club, Ashley Home Furniture and Home Depot, which anchor Coldwater Plaza.

“Today, free-standing buildings with high street visibility are the most desired properties to both retail tenants and investors, especially when surrounded by national tenants, like this building at Coldwater Plaza,” said Steve Julius, First Vice President with CBRE.

The property is situated in metro Phoenix’s fast-growing Avondale/Goodyear submarket with access to the Valley via nearby Interstate 10. Downtown Phoenix and Phoenix Sky Harbor International Airport are within a 30-minute drive from the property.

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from October 8 thru 12, 2018.

OFFICE – 6280 E PIMA STREET, TUCSON
Cathexis, Inc. leased a 4,275-square-foot mixed-use office space located at 6280 Pima Street from 6280 E Pima Investors, LLC. Jeff Casper, David Montijo, and Damian Wilkinson of CBRE’s Tucson Office represented the landlord and Michael Cortez of The Commercial Real Estate Group represented the tenant.

OFFICE – PIONEER BUILDING, 100 NORHT STONE AVE, STE 1005, TUCSON
Dave Volk and Bruce Suppes of CBRE’s Tucson Office represented the landlord, Holualoa Pioneer, LLC., in the lease of a 1,468-square-foot office space to Opsjet, LLC. The space is located in the Pioneer Building at 100 North Stone Avenue, Suite 1005.

RETAIL – MIDSTAR PLAZA, 4558 E BROADWAY BLVD., STE. 102, TUCSON
Renew Body Wellness Center leased a 720-square-foot retail space from Midstar Partners, LLC located at Midstar Plaza 4558 East Broadway Boulevard Unit 102. Nancy McClure of CBRE’s Tucson Office represented the landlord and Diane Carlson of Cushman & Wakefield | Picor represented the tenant.

Submit sales and leases to REDailyNews@Outlook.com