Tucson’s El Conquistador Apartments Sells for $7.5 Million

PHOENIX, Arizona  – Cushman & Wakefield announced that Scottsdale-based CCA-El Conquistador Apartments, LLC purchased El Conquistador Apartments, located at 1881 East Irvington Road in Tucson, Arizona, for $7.5 million ($37,313 per unit) from Oksenholt F&S Tucson I LLC of Lincoln City, Oregon

David Fogler, Steven Nicoluzakis, Brent Mallonee, Chris Hollenbeck and Regan Amato of Cushman & Wakefield Phoenix represented the buyer.

“The El Conquistador represented an excellent value-add opportunity for the buyer, who was attracted to the property because of the quality of the asset and the location,” said David Fogler.

El Conquistador is a 201-unit, garden-style apartment community consisting of 12, two-story buildings. Spanning 6.75 acres, the property is approximately 81,074-square-feet and features studio, one- and two-bedrooms in four individual floor plans averaging 403-square-feet.

Located in southern Tucson, El Conquistador is on the northwest corner of Campbell Avenue and Irvington Road.




Kneader’s Joins Natural Grocers at Craycroft and River

Kneader's Bakery 150Kneader’s Bakery & Café will join Natural Grocers at the southeast corner of River and Craycroft to the south of Quik Trip. See Real Estate Daily News Natural Grocers Buys 4th Tucson Store for the Natural Grocers transaction.

The 42,150-square-feet of land at this corner was sold to Kneader’s developer, FFG Development of American Fork, UT for $950,000 ($22.54 PSF).

Kneader’s Bakery & Café will be approximately a 4,000-square-foot built-to-suit facing Craycroft on this site.

Kneader’s is all about breads. The concept is a European-style bakery where things are still made by hand, from simple, healthy ingredients the way it’s been done for a thousand years.

The first Kneader’s opened in 1997 in Orem, UT specialized in authentic European hearth breads made fresh daily. Kneaders also offers a variety of soups, salads, sandwiches and 40-50 different pastries. Kneader’s fast-casual concept is to provide “fresh food fast”.

Kneader’s has been expanding rapidly, with over 30 locations, 7 in Phoenix and this will be the third in Tucson and the second to open. Kneader’s opened at Wilmot and Broadway last summer, and recently purchased a pad at Canyon Retail in Oro Valley. For Real Estate Daily News story click here New Development at Oro Valley Canyon and Canyons at Linda Vista Trail.

Regan Amato of Cushman & Wakefield in Phoenix represented the developer, FFG Development and G.T. Alley with Broadway Realty & Trust represented the seller, Craycroft / River Holdings, LLC (Joseph Cesare, manager).

For more information, Amato can be reached at 602.224.4468 and Alley should be contacted at 520.747.5700.

To learn more, see RED Comp #3694.

 




Two New Fast Casual Concepts Coming to Tucson

Raising Cane's Restaurant
Raising Cane’s (courtesy photo)

Kneader’s Bakery & Café and Raising Cane’s will be bringing two new fast casual concepts restaurants to Tucson at the southeast corner of Wilmot Road and Broadway Blvd. CVS built a new store on the hard corner in 2013 and sold 2.3 acres of excess land surrounding the CVS Pharmacy.

An affiliate of the Eisenberg Company in Phoenix (Jason Eisenberg, CCIM) purchased the 2.3 acres surrounding this corner for $1.725 million ($17 PSF) from CVS to split.

Raising Cane’s is a fast-casual restaurant specialized in chicken fingers. Founded in Baton Rouge, Louisiana in 2007 by Todd Graves, today there are more than 150 locations across 15 states, and 7 in metro Phoenix. The restaurant is named after Grave’s yellow Labrador, Raising Cane.

Expected to open Summer 2015, Eisenberg is developing the 4,000-square-foot Raising Cane’s on 51,162-square-feet of land facing Broadway. The remaining 49,063-square-feet of land was sold to Kneader’s developer, FFG Development of American Fork, UT for $900,000 ($18 PSF).

Kneader's Bakery (courtesy photo)
Kneader’s Bakery (courtesy photo)

Kneader’s Bakery & Café will be a 3,700-square-foot built-to-suit facing Wilmot.

Kneader’s is all about breads. The concept is a European-style bakery where things are still made by hand, from simple, healthy ingredients the way it’s been done for a thousand years.

The first Kneaders opened in 1997 in Orem, UT specialized in authentic European hearth breads made fresh daily. Kneaders also offers a variety of soups, salads, sandwiches and 40-50 different pastries. Kneader’s fast-casual concept is to provide “fresh food fast”.

Kneader’s has been expanding rapidly, with 30 locations and 7 in Phoenix. The Tucson Kneader’s is also expected to open Summer 2015

Torrey Briegel and Regan Amato of Phoenix Commercial Advisors in Phoenix represented Eisenberg in both transactions.

To learn more Briegel can be reached at 602.734.7219 while Amato is at 602.288.3474.