A shuttered midtown grocery store will soon become a place to work off calories.
California-based Heslin Holdings Inc., a private commercial real estate investment and development firm, bought the former Safeway building at 5548 E. Grant Road and has inked a lease with Chuze Fitness.
The 35,000-square-foot building, on the corner of Grant and Craycroft roads, was bought from Albertsons for $2.5 million. Heslin plans to invest $1.5 million to upgrade the building.
“Our firm has reworked a number of similar spaces and been successful at attracting quality tenants back into these properties to the benefit of the local community,” said Matthew Heslin, principal and CEO with Heslin Holdings. “With so many larger retailers going out of business, or reducing many of their physical real estate locations, there’s a heightened need to reimagine these assets.”
The Safeway closed in 2016.
Pat Darcy, with Tucson Realty & Trust Co., represented the seller, and Wesley Connolly, with Matthews Retail Advisors, represented the buyer.
Other recent commercial transactions include:
- Cathexis Inc. leased 4,275 square feet at 6280 E. Pima St. from 6280 E Pima Investors LLC. Jeff Casper, David Montijo and Damian Wilkinson, of CBRE, represented the landlord, and Michael Cortez, of The Commercial Real Estate Group, represented the tenant.
- Graycliff Enterprise Solutions leased 2,000 square feet at 6913 N. Camino Martin from Camino Martin Industrial Plaza LLC. John Ash and Tim Healy, with CBRE, represented the landlord.
- Lendmark Financial Service LLC leased 1,620 square feet at the Tucson Spectrum, at Interstate 19 and Irvington Road. Ben Craney and Jayme Fabe, with NAI Horizon, represented the landlord, and NAI Horizon’s Andrew Sternberg represented the tenant.
- Opsjet LLC leased 1,468 square feet in the Pioneer Building, 100 N. Church Ave. Dave Volk and Bruce Suppes, of CBRE, represented the landlord, Holualoa Pioneer LLC.
- Rosie’s Barket LLC leased 1,400 square feet at Plaza Escondida Shopping Center, 7960 N. Oracle Road, from Roseville Tucson LLC. Pete Villaescusa and Jesse Peron, with CBRE, represented the landlord, and Jeremy Price, of Volk Co., represented the tenant.
- Sunrise Dental Equipment Sales and Services leased 1,310 square feet at 11143 N. La Cañada, in the Oro Valley Center. Craig Finfrock, of Commercial Retail Advisors LLC, represented the landlord, W.J. Choi LLC. The tenant was self-represented.