X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TUCSON-The New China Restaurant building has been sold for $1.15 million in an all-cash deal that netted the buyer an 8,451-sf property along one of the busiest streets in Tucson.

Dale Webber with Marcus & Millichap Real Estate Investment Brokerage Co.’s Tucson office sealed the deal for buyer, Wilmot Dorato Center LLC by bringing in the 1160 N. Wilmot Rd. property at close to $138 per sf.

Webber tells GlobeSt.com that the building is a prime investment for the buyer, who picked up the Speedway and Wilmot Road property at a bargain. “It’s a low price per square foot for a triple-net property,” he says, noting the tenant is responsible for all maintenance, taxes and repairs. “It’s also a very good location on one of the busiest intersections in Tucson.”

The existing Chinese restaurant will remain the building’s sole occupant, Webber said. The business recently made minor repairs and renovations to the building, he said.Seller, Marion F. Soll Trust of Los Angeles, CA., was represented by Dennis Smith of National Real Estate Services.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.