By Rose Law Group Reporter
(TUCSON) Arizona-based Scottsdale Development Partners is pleased to announce the sale and closing of the former Claim Jumper parcel at El Con Center in Tucson.
Scottsdale Development Partners purchased the 1.7-acre property for $1.6 million, with plans to make way for a new Portillo’s restaurant.
Portillo’s signed a ground lease and will handle construction, which is scheduled to begin right away. Portillo’s will demolish the existing 15,000-square-foot Claim Jumper building and build its 7,800-square-foot prototype building, that will include a double-lane drive thru. The restaurant is expected to open in Q4 2022.
Brokers Charles Skaggs and David Uhles of Western Retail Advisors represented Portillo’s, while Carol and Cole Schillne, also brokers now with Orion Investment Real Estate, represented Scottsdale Development Partners in the transaction.
This purchase at El Con is David Malin’s, President of Scottsdale Development Partners’ second transaction with Portillo’s. Malin was responsible for adding Portillo’s to Tempe Marketplace back in 2013.
“This is very exciting news for El Con Center, a trophy property in Tucson with a lot of history,” said Malin. “This was a unique opportunity to purchase a part of this great center and upgrade the tenant mix to eliminate a closed down Claim Jumper with an exciting brand such as Portillo’s. We know they will be a staple of this shopping center for many years to come.”
Portillo’s has over 70 locations across nine states in the US and went public on NASDAQ in October 2021.
Scottsdale Development Partners is currently executing on other ground up developments and “value-add” redevelopments of shopping centers in the western United States and is actively seeking more opportunities. The company specializes in fixing broken shopping centers as well as ground up development with a mission statement that’s focused on helping every retail property achieve its maximum potential.