Cushman & Wakefield, a leading global real estate services firm, announced last week the arrangement of the sale of a restaurant asset in Tucson.
Idaho-based DTFP, LLC acquired the property from RJR Tucson, LLC for $6.1 million. Chris Hollenbeck and Shane Carter of Cushman & Wakefield in Phoenix represented the seller in the transaction.
“This was a strong investment opportunity of a trophy-grade Class A retail property that is fully leased to a national credit tenant,” says Hollenbeck. “The tenant has been operating at this location for many years and recently signed a long-term extension indicating its commitment to this location, situated in one of Tucson’s best trade areas.”
The class A property is adjacent to the corner of Oracle and Westmore roads, in a densely populated area with high traffic and high visibility. Oracle Road is home to both the Tucson Mall and the Tucson Auto Mall, making it a retail hub for the city.
The 8,080 square-foot building is fully leased to BJ’s Restaurant and Brewhouse, an American chain based in Huntington Beach, CA.