Tucson Real Estate: Investors buy, lease back Culver's on 1st

Culver’s, a 4,052-square-foot eatery at 4810 N. First Ave., has been sold to investors for $2.3 million.

Built in 2013, the property was sold as a sales-leaseback with a 15-year lease.

“This transaction speaks to the continued vitality of the net-lease marketplace fueled by capital migrating from costal markets seeking a better yield,” said Brian Klancke, investment specialist with Marcus & Millichap, a commercial real estate investment firm that represented the seller. The firm’s other brokers who assisted with the sale are Sean Doyle, Cory Villaume, Adam “A.J.” Prins and Matthew Hazelton.

Other recent transactions:

• Jesus Alonso Mendoza Aboytes and Jesus Graciela Garcia Valle bought a 4,013-square-foot building and 23,416 square feet of land at 2660 N. Campbell Ave. to open a restaurant. The purchase price was $1 million from the seller, 2660 N. Campbell LLC. Rick Borane, of Volk Co., represented the buyers.
• Brentwood Development Co. of Rocklin, Calif., bought 40,000 square feet of land from Smith’s Food Drug Centers, dba Fry’s Food & Drug Stores for $425,000. Brentwood plans to develop 10,200 square feet of shop space adjacent to the existing 74,176 square foot Fry’s Food & Drug Store, at the northeast corner of First Avenue and Roger Road. Craig Finfrock of Commercial Retail Advisors LLC represented the buyer; the seller was self-represented.
• The Gabriella Kats Irrevocable Trust bought a 6,320-square-foot office building at 1690 N. Stone Ave. from Bank of the West for $275,000. Brandon Rodgers, with Picor, handled the transaction.
• Trane U.S. Inc. leased 11,520 square feet in Broadbent Center, 2165 N. Forbes Blvd., from Forbes Tucson LLC. Rob Glaser, with Picor, represented the landlord, and Alan Moore, with Chapman Lindsey Commercial Real Estate Services, represented the tenant.
• Broadpath Inc. leased 9,703 square feet at 6400 E. Grant Road from La Mirada LLC. Rick Kleiner, with Picor, represented the landlord, and Mark Irvin, with Mark Irvin Commercial Real Estate Services, represented the tenant.
• KML Enterprises Career Development LLC, dba NH Learning Group, leased 6,074 square feet in Tri Pointe Plaza, 6377 E. Tanque Verde Road, from CSFB 2005-C3 Tanque Verde LLC. Rick Kleiner, with Picor, represented the landlord, and Eric Walker, with Cresa Phoenix, represented the tenant.
• JKAY LLC, dba Crossfit Factotum, leased 4,000 square feet at 8351 E. Broadway from Little Group LLC. Rob Tomlinson, with Picor, represented the landlord, and Michael Laatsch, with CBRE, represented the tenant.
• The Muscular Dystrophy Association leased 3,600 square feet at 1627 W. Grant Road from Rodgers Hoge Partners. Brandon Rodgers, with Picor, represented the landlord, and Picor’s Rick Kleiner represented the tenant.
• D & D Distribution Inc. leased 2,700 square feet in the Old West Business Park, 6906 N. Camino Martin, from Acorn Ventures LLC. Jeff Zellet, with Picor, handled the transaction.
• PharmCareUSA of Phoenix LLC leased 2,147 square feet in Midpoint Business Plaza, 1835 S. Alvernon Way, from Presson Midpoint LLC. Rob Glaser and Paul Hooker, with Picor, represented the landlord, and Debbie Heslop, with Volk Co., represented the tenant.
• Starbucks Coffee Co. leased 2,000 square feet at Riverfront Village, on the northeast corner of First Avenue and Wetmore Road. Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker, and Picor’s Greg Furrier represented the tenant.
• LB Tucson Restaurant Company LLC leased 1,936 square feet in Saint Mary’s Plaza, on the corner of St. Mary’s and Silverbell roads, to open a Los Betos Mexican restaurant. Dave Hammack and Rick Borane of Volk Co. represented the landlord, Tucson St. Mary’s Plaza LLC.
• Skyline Direct Care MD PLLC leased 1,574 square feet at 5700 E. Pima St. from 2222 Craycroft LLC. Isaac Figueroa, with Picor, represented the tenant, and Aubrey Finkelstein, with Vast Real Estate Solutions, represented the owner.
• ArmorPoxy Concrete Coatings LLC leased 1,500 square feet in the Old West Business Park, 6894 N. Camino Martin, from Camino Martin Partners II LLC. Brandon Rodgers, with Picor, represented the landlord, and John Hamner, with Keller Williams Southern Arizona, represented the tenant.
• Information for Sales and Leases is compiled from records at the Pima County Recorder’s Office and from brokers. Send information to reporter Gabriela Rico at grico@tucson.com