Tucson Real Estate: Restaurant building gets new owner, restaurant stays

HiFalutin Rapid Fire Western Grill on Oracle Road has new owners.

The restaurant building, at 6780 N. Oracle Road, was bought for $850,000 by Oakmark Prescott LLC. Glen R. Fotre, with Triple Net Investments LLC, represented the seller.

HiFalutin has a long-term lease and the restaurant will continue to operate.

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Other recent commercial transactions include:

• EastGroup Properties LP bought 21.76 acres of land at Drexel Road and Commerce Center Place from Ferr-Con Partners LLP and Diamond Ventures Inc. for $2.8 million. Rob Glaser, with Picor, represented the buyer while Bill Di Vito and Jesse Blum, with CBRE, represented the seller.
• Penske Truck Leasing Co. LP bought 2.91 acres of land in the 3500 block of East 34th Street for $540,451 from BD 34th Properties Inc. Rob Glaser, with Picor, handled the transaction.
• Sunburst Plaza LLC leased 1,380 square feet at 1045 N. Kolb Road to Steven Tilden and Dung Thi Tilden and Serene Nail Spa & Reflexology LLC. Dave Hammack, of Volk Co., represented the landlord.
• Quark Management Services LLC leased 1,300 square feet in Butterfield Business Center, 4575 S. Palo Verde Road, from Presson Equity Partners LLP. Rob Glaser, with Picor, handled the transaction.
• Fine Art Publishing LLC leased 1,200 square feet in the Midway Business Park, 4500 E. Speedway, from Presson Midway LLC. Picor’s Rob Glaser and Paul Hooker, handled the transaction.