Tucson retail sales remain active, these two very different sales for a net leased Carl’s Jr. and inline shops at Broadway & Harrison total $3.17 million.
Single tenant net leased property, Carl’s Jr. at 1691 W Valencia Road in Tucson sold for $1.965 million ($606 PSF). The 3,241-square-foot building has been a Carl’s Jr. since built in 1997 on a .80 acre pad in Midvale Park Shopping Center.
The property is strategically located across the street from a Walmart Super Center and Lowe’s Home Improvement anchored center. The restaurant sales greatly benefit from the excellent visibility and high traffic volumes, surrounded by national retailers such as 99 Cent Only, Burger King, Dunkin Donuts, Dairy Queen, Wells Fargo and Bank of America.
Carl’s Jr. operates under a long term absolute triple net lease with no landlord responsibilities.
Will Pural with CIRE Partners of La Jolla, CA handled the transaction for buyer and seller. To learn more Pural should be reached at 858.367.8558.
For additional information login to reference RED Comp #2924.
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In a separate, unrelated transaction, a portion of Broadway Albertson’s Center at 64 North Harrison Road in Tucson sold for $1.2 million ($115 PSF) at auction. Built in 2004, the 10,400-square-feet of inline shops at this Albertsons anchored center was about 50% occupied at time of sale. Located at the northeast corner of Broadway and Harrison, tenants at the center included Ichiban Japanese Restaurant, Inspired Life Chiropractic, Star Smoke Shop, and Little Caesars Pizza.
Greg Furrier and Rob Tomlinson with Cushman & Wakefield | Picor in Tucson handled the sale and are also the leasing representatives for the property.
To learn more Furrier should be reached at 520.546.2735 and Tomlinson can be contacted at 5250.546.2757.
For additional information login to reference RED Comp #2969.