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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.

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