Tucson Marketplace at the Bridges anchored by Costco and Walmart between Park and Campbell at I-10, will have a new Lin’s Grand Buffet, Starbucks and Verizon there soon.

Tucson Park Ave., LLC (Frank Lam, manager) purchased Pad #3, 2.48 acres, for construction of a 10,000-12,000-square-foot Lin’s Grand Buffet. The address at 3387 S Park Avenue, near Walmart, commanded a sale price of $1.4 million ($13 PSF).

Lin’s Grand Buffet & Mongolian Grill has already two successful locations in Phoenix, one in Yuma and more in Texas and California. Researching it on the internet make your mouth water. “Think of quality Chinese cuisine with excellent customer service, in a warm and inviting atmosphere,” that’s what Lin’s Grand Buffet says you can expect.

Kenny Lin was the young man who first introduced Lin’s Grand Buffet. He wanted to introduce a buffet style restaurant with a higher standard of food quality than what the current industry had to offer. With this desire, Kenny opened his first buffet restaurant in New York City in 1993 and has since opened 32 more restaurants throughout Texas and California. The company currently employs over 800 people.

Working with various partners, such as Frank Lam in Phoenix, who share the same goals and aspirations for excellence, Kenny Lin is growing Lin’s Grand Buffets throughout Arizona and other states.

Lin’s Grand Buffet at Tucson Marketplace is expected to be open Q4 2016.

Retail West Properties own Tucson Marketplace at the Bridges, that is being marketed by Randy Titzck and Chad Russell with Land Advisors Organization in Phoenix and continues to build out. Russell told us that ground breaking on an additional 8,000-square-foot out pad directly to the north of Costco should break ground in the next 30 days.

The south 1,900-square-feet end unit with drive-thru is pre-leased to Starbucks and the north 2,100-square-feet pre-leased to Verizon.

To learn more Titzck should be contacted at 480.874.4327 and Russell can be reached at 480.874.4339. For additional information login and see RED Comp #2852.

Circle K Stores of Tempe, AZ purchased a 57,935-square-foot retail pad at La Jolla Verde Commercial Center in Sahuarita for $1 million ($17.30 PSF). This will be the first pad construction at this new retail center located southeast of I-19 on Old Nogales Hwy near the full diamond interchange.

This core retail intersection for Sahuarita with a Super Walmart-anchored center directly across from it. This Walmart center also has Ross Dress for Less, Big Lots, Wells Fargo, Walgreens, Bank of America, 99 Cent Only, and other national retailers.

Brenna Lacey with the Volk Company in Tucson represented the seller, La Jolla Verde Land Holdings, LLC of Los Gatos, CA.

Kurt Maes with Scarbrough & Associates in Phoenix represented Circle K in the acquisition.

To learn more Lacey should be reached at 520.326.3200 and Maes can be contacted at 602.774.4243,

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In a second unrelated transaction, a 42,047-square-foot retail pad (lot 3 block 45) in Rancho Sahuarita, Sahuarita, AZ sold to Gen2Properties, LLC dba Taco Bell for $895,000 ($21.29 PSF).

Located at the southeast corner of I-19 and Sahuarita Road, Taco Bell with join McDonalds, Shell, United States Post Office, and Pima County Public Library.

A growing bedroom community, Sahuarita is only 15 minutes to Tucson Airport and 45 minutes to Nogales and Mexico.

Rob Tomlinson, Retail Specialist with Cushman & Wakefield | Picor of Tucson represented the seller, RSMC VI, LLC and Aaron LaPrise, Retail Specialist with Cushman & Wakefield | Picor represented the buyer.

To learn more Tomlinson should be contacted at 520.546.2757 and LaPrise can be reached at 520.546.2770.

For additional information see RED Comp #2849 and #2850.

The former Northern Trust Bank in Tucson – Wealth Management Division, at 6444 E Tanque Verde Road sold for $1.155 million ($105 PSF). This 10,963-square-foot Class A building was built in 2002 on a 1.37 acre lot by Northern Trust with a leasehold on the land. When the leasehold terminated the property with building was returned to the seller, PJC Investments LLC of Phoenix (Pat Cusack, managing member).

The Northern Trust Corporation is an American international financial services company headquartered in Chicago, Illinois. It provides investment management, asset and fund administration, fiduciary and banking services through a network of 85 offices in 18 U.S. states and 20 international offices in North America, Europe and the Asia-Pacific region.

The property was vacant when it sold and the buyer, Tanque Verde Square LLC of Tucson (Abraham Slilary, managing member) purchased the property, complete with vault remaining, to lease it..

David Montijo and Nancy McClure of CBRE in Tucson represented the seller.

Juan Teran, CCIM, with Chapman Lindsey Commercial Real Estate Services in Tucson represented the investor in the transaction.

“The building, having been built for the Wealth Management Division of Northern Trust, spared no expense in appeal as a corporate signature property,”  Teran said. “Located in the northeast quadrant of Tucson, the property is surrounded by offices and a myriad of restaurants, hospitals, and other amenities.”

To learn more contact Teran should be reached at 520.747.4000. Montijo and McClure can be contacted at 520.323.5100.

Additional information can also be found by logging in and referencing RED Comp #2822.

(Note: A typo in headline has been corrected to read $1.16, the actual sale prices was $1.155 million for this property.)