Planet Fitness purchased an anchor pad at Tucson Marketplace at the Bridges, located at the northwest intersection of Interstate 10 and South Kino Parkway, for $1.18 million ($9.85 PSF) for construction of a 25,000-square-foot building. The approximately 2.75 acre parcel is northwest of Walmart and northeast of McDonald’s on Park Avenue.

Tucson Marketplace at the Bridges is a 114 acre project with approximately 1 million-square-feet of shops, pads, entertainment and anchors when fully completed. Current anchors include Costco and Walmart with such other tenants as McDonald’s, Great Clips, Mattress Firm, Sports Clips, Sprint, Verizon, and Starbuck’s.

The site work and grading has already begun for Planet Fitness with plans for opening in Q4 2016.

Randolph Titzck and Chad Russell with Land Advisors Organization in Phoenix represented the seller, Tucson Retail LLC, an affiliate of Eastbourne Group of New York. Pete Roffle with Vlahakis Companies in East Lansing, Michigan represented the Planet Fitness developer of Alma, Michigan.

Russell told us since the first of the year, there has been over 96,000-square-feet of buildings break ground at Tucson Marketplace. Cinemark’s 53,678-square-foot Century Theatre, in addition to a 12,550-square-foot Lin’s Chinese Buffet, and a 30,000-square-foot Dave & Buster’s are all under construction.

Cinemark Holdings, Inc. (NYSE: CNK), one of the world’s leading motion picture exhibitors, is constructing a 14-screen, 1,294-seats, all-digital movie theatre that will feature Luxury Lounger reclining chairs in all the auditoriums at the Tucson Marketplace at the Bridges, The new built-to-suit theatre is scheduled to open November 2016.

“Cinemark currently operates five theatres under our Century brand in the Tucson, Oro Valley and Sierra Vista market,” commented Tim Warner, Cinemark’s Chief Executive Officer in a news release.  “Our new NextGen theatre located at the Tucson Marketplace will be the first complex in Tucson to offer guests our Luxury Lounger recliners and should quickly become recognized as one of the best places in the area to enjoy a great movie-going experience.”

Dave & Buster’s, another 30,000-square-foot built-to-suit, plans to open by Q1 2017. Known for its cool games for adults, sports, and strawberry-flavored ice cubes since 1982, this will be the first store for this popular eating place in Tucson, and is located directly to the east of the theatre.

For additional information on pads or leasing, Titzck and Russell should be reached at 480.483.8100.

To learn more on this transaction, see RED Comp #3991.

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McDonald’s will soon join Costco and Walmart at Tucson Marketplace at the Bridges, located at the northeast corner of I-10 and Park Avenue in Tucson. According to the city, McDonald’s submitted plans March 6 and received final approval on May 2, 2013 to begin construction of a 4,805 sq. ft. restaurant that includes an 850 sq. ft. Play Place and drive-thru. This will be McDonald’s 42nd location in Pima County and its 34th in Tucson proper.

Tucson Retail, LLC, a joint venture made up of three entities, Eastbourne Investments Ltd. (Robert Blakely) a New York based development/investment company, Retail West Properties, LLC (Eric Davis) based in Boise, Idaho, and Genesis Tucson South, LLC (Randolph Titzck) based in Scottsdale, sold a 54,046 sq. ft. pad at 1059 E Tucson Marketplace to McDonald’s Real Estate Company of Denver, CO for[mepr-show rules=”58038″]$950,000 ($17.58 PSF) for the site of a new McDonald’s restaurant. Danito Construction of Tucson will be general contractor for the project.

Randy Titzck and Chad Russell of Land Advisors Organization in Scottsdale represented the seller; and Brian Harpel of the Harpel Company in Tucson represented the buyer in the transaction.

McDonald’s employs approximately 440,000 full- and part-time employees nationally and according to the company’s franchise information, each restaurant typically employs 50 part-time employees. Currently, McDonald’s has 21 open positions it is hiring for in Tucson.

McDonald’s is well-known for its life-skills / work training programs that recognizes and rewards the accomplishments of McDonald’s student-employees who excel in their studies, serve their communities and go the extra mile to deliver a thoroughly enjoyable experience for customers. Every academic year, McDonald’s selects one outstanding student-employee applicant from each state to receive a $2,500 scholarship. In addition, three student-employees judged to demonstrate the highest commitment to school, work and community service are selected and named “McScholar of the Year” with a $5,000 scholarship.

Located within city limits, The Bridges Master Plan is a ±350 acre Planned Area Development bounded on the north by 36th Street; on the east by Kino Parkway (Campbell Avenue); on its southern edge by Interstate 10; and to the west by Park Avenue. The parcel was formerly owned in its entirety by Sinclair Oil.

The master plan consists of ±128 acres of residential development, ±113 acres of commercial development and ±65 acres of research park and hotel development. KB Home in conjunction with Lennar Homes plans approximately 700 – 750 single family homes there. The University of Arizona is proposing educational and research facilities on ±53 acres. Also, a ±12 acre parcel is proposed for hotel facilities. The remaining land is proposed to be set aside for open space and parks. Tucson Retail LLC is proposing up to 1 million-square-feet of regional shopping to be built with the 148,499 sq. ft. Costco and the 155,861 sq. ft. Walmart the first to open.

Currently, in addition to the new McDonald’s, Tucson Marketplace has another 23,000 sq. ft. of retail shops under construction on three separate pads. According to Retail West’s Eric Davis, half of the new construction is already pre-leased and there seems to be increasing interest from anchor and junior anchor tenants for the project. All are expected to be move-in ready for the Fall.

Chad Russell of Arizona Land Advisors Organization in Scottsdale is handling leasing at the project.

Davis of Retail West Properties can be reached at (208) 331-0110. Harpel of the Harpel Company is at (520) 721-7999. Land Advisors Organizations’, Titzck and Russell, should be contacted at (480) 483-8100.[/mepr-show]