A private investor has bought the Raising Cane’s restaurant building near the University of Arizona for $5 million.
Zack House, Mark Ruble, Chris Lind, Jamie Medress, Craig Elster and Ron Duong, with Marcus & Millichap, handled the sale of the property at 2604 E. Speedway.
“After just a week on the market, we had already received two offers at list price,” House said. “We successfully closed the transaction in just 30 days after going to market.”
Raising Cane’s has almost 20 years remaining on the lease of the building with 10% rental increases every five years.
The area has a daytime population of 434,771 employees within a 5-mile radius, and 286,441 residents.
Other recent commercial transactions include:
- A complex with a 12-duplex building at 1312 S. Sahuara Ave. sold for $1.9 million. Neil Davis, Mike Chapman and Justin Lanne, with NAI Horizon, represented the seller PHM Saguaro Apartments LLC. Brian Wareing, with Centurion Management, represented the buyer Zachar Properties LLC.
- 877 South Warren LLC bought a 4,995-square-foot office and workshop at 887 S. Warren Ave. from China Sea LLC for $700,000. Stephen Cohen and Aubrey Finkelstein, with Picor, represented the buyer and Christopher Itule, of NAI Horizon, represented the seller.
- Stone Apartments LLC purchased a 14-unit apartment complex at 2620 N. Stone Ave. from Stak Properties LLC for $640,000. Allan Mendelsberg, with Picor, represented both parties.
- Huckleberry Holdings LLC bought a 5,984-square-foot industrial building at 500 E. 26th St. from Bruce and Susan Burr Marital Trust for $410,000. Stephen D. Cohen, with Picor, represented the seller and Richard Gil, with Sold Masters Realty, represented the buyer.
- Automation Specialists leased 4,024 square feet at Butterfield Technology Center, 4775 S. Butterfield Drive. Landlord Larsen Baker was represented by its brokers, Melissa Lal, Andy Seleznov and George Larsen as well as Rob Glaser, with Picor.
- A-List Personal Training leased 2,453 square feet at 4433 E. Broadway from 4433 E Broadway LLC. Cameron Casey, of Oxford Realty Advisors, represented the landlord.
10 restaurants you went to as kids that are still open:
10 Tucson restaurants you went to as kids that are still open
Caruso's Italian Restaurant — 434 N. Fourth Avenue
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Caruso's Italian Restaurant
Caruso's has been slinging Italian cuisine on North Fourth Avenue since the 1930s, but not always in the same spot.
It was originally at 334 N. Fourth Avenue, a block south of its current location, according to the website, but a monsoon flood all but wiped out the building in the 1940s (again, according to its website).
El Charro Café — 311 N. Court Avenue
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El Charro
Launched in 1922, El Charro Café has been a staple of the Tucson restaurant scene for decades.
What started as one small location on North Court Avenue, has blossomed into El Charros across Tucson, in addition to the spinoff concepts, Sir Veza's Taco Garage and Charro Steak.
El Minuto Café — 354 S. Main Avenue
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El Minuto Café has called two locations home since 1934.
Its original location was torn down to make way for Interstate 10.
The Mexican restaurant has been at its current location on South Main Avenue since 1944.
The dining destination is within walking distance from the Tucson Convention Center, making it ideal for pre-concert/hockey game/gem show meals.
Gus Balon's Restaurant — 6027 E. 22nd Street
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Gus Balon's
This popular breakfast and lunch spot has been operating since its namesake, Gus Balon and his wife, Kay, first opened the diner on East 22nd Street in 1965.
Balon died in 2007, but his spirit lives in at the restaurant which has remained in the family. His granddaughter Kelli Phillips runs the joint.
Lil' Abner's Steak House — 8501 N. Silverbell Road
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Lil'Abners Steakhouse
Larry Lewis first opened Lil' Abner's as a bar on Tucson's northwest side in 1947.
The steak house has changed hands several times, but continues to stick to its Southern Arizona, Western roots.
According to its Facebook page:
"Abner’s is an authentic old-time western bar and restaurant filled with memorabilia of southwestern history and has gained worldwide fame for our mesquite broiled T-bone, rib eye, filet, chicken, pork rib and beef rib dinners. Each dinner is served with a salad and all the garlic toast, beans, and salsa desired. For those of you with a sweet tooth try our pecan pie or homemade hot fudge sundaes! "
Mama Louisa's Italian — 2041 S. Craycroft Road
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Mama Louisa's
Located just north of Davis-Monthan Air Force Base, Mama Louisa's has a long history feeding the Tucson masses.
It first opened its doors in 1956 and has served celebrities and citizens alike.
In 1970, Joe Namath and Ann-Margret stopped through for a birthday party, while filming the movie "C.C. and Company" in Tucson, according to the Star archives.
Mi Nidito — 1813 S. Fourth Avenue
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Mi Nidito (or My Little Nest) has a history going back to 1952, but will forever be known as the restaurant that President Clinton visited in 1999.
It still serves a President's Plate — A bean tostada, birria taco, chile relleno, chicken enchilada and beef tamale — for $15.50.
Pat's Chili Dogs — 1202 W. Niagara Street
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Pat's Drive-In 1202 W. Niagara St.
Opened by Henry "Pat" Patterson in 1961, Famous Pat's Chili Dogs is a classic drive-in-style restaurant and west-side staple in Barrio Hollywood.
It offers a variety of sandwiches and burgers in addition to their classic dogs.
Pinnacle Peak Steakhouse — 6541 E. Tanque Verde Road
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Pinnacle Peak Restaurant
The anchor of Trail Dust Town, Pinnacle Peak opened in 1962, burned down in 1971, and was rebuilt to become a major tourist destination for the city.
The restaurant serves a mean steak, but is just as well known for its treatment of neckties (cut-off ties are hanging from the ceiling throughout the venue).
Saguaro Corners — 3750 S. Old Spanish Trail
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Saguaro Corners Ice House
Saguaro Corners has been based on the east side of Tucson before there was an east side of Tucson.
The restaurant was first opened in 1956 by one Bert Calvert, according to Star archives.
It has changed hands and even closed once or twice, but now serves food, craft beer and live music daily to residents from Tucson to Vail.
A few of the things that happen on Tucson summer days.
