Tag Archives: Raising Cane’s

Cornerstone 1, Orion, WEB

Bob Parsons affiliate buys Cornerstone shopping center

ORION Investment Real Estate announced Tuesday the sale of The Cornerstone shopping center in Tempe, Ariz., located on the NEC of Rural Road and University Drive adjacent to Arizona State University.  The 117,351-square-foot center sold for $28,556,152 to Cornerstone Retail, L.L.C., a commercial real estate entity affiliated with YAM Properties which was founded by Valley businessman Bob Parsons.

The transaction was negotiated by Ari Spiro, Sean Stutzman and Andrew Harrison of ORION Investment Real Estate based in Scottsdale.

The Cornerstone is part of a five-building complex located at one of the most recognizable intersections in the Southeast Valley. The property is adjacent to ASU’s University Center and Athletic Performance Center.  The shopping center which was 90 percent occupied at the time of the sale, is anchored by Tempe Improv and is home to notable tenants including ASU, Buffalo Wild Wings, Fast Med Urgent Care, and Raising Canes.

ORION’s President Ari Spiro noted, “This is a landmark property at the gateway to Tempe and Arizona State University on a 10.7 acre lot.  Locations like this rarely trade.  Tempe is undergoing a building boom with no less than half a dozen cranes dotting the skyline.”

The Seller in the transaction was Cornerstone Center 99, LLC, an Arizona limited liability company, owned by ACF Property Management Inc. based in Sherman Oaks, California.

Raising Canes, WEB

Glendale Raising Cane’s location sold

Marcus & Millichap, a commercial real estate investment services firm, announced the sale of Raising Cane’s, a 3,033-square foot net-leased property located in Glendale on Friday, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $3,550,000.

Mark Ruble and Jamie Medress, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  Raising Cane’s is located at 7930 W. Bell Rd. in Glendale, Ariz.

Raising Canes, WEB

Raising Cane’s® Chicken Fingers Continues Its Arizona Expansion

Cassidy Turley has completed a  0.83-acre (36,213 square feet) build-to-suit lease for MRG Marketing & Management, Inc., Southwest franchise partner for Raising Cane’s Chicken Fingers, at Arrowhead Marketplace, located at the northwest corner of Bell Road and 79thth Avenue in Glendale.

Cassidy Turley Vice President Mark Bramlett represented MRG in its lease transaction with the landlord, Evergreen 79th & Bell, LLC, a division of Evergreen Development. The Glendale location will open summer 2014.

MRG has opened five Raising Cane’s restaurants within the metro Phoenix area since 2011 at 2715 W. Peoria Ave. and 4325 E. Thomas Road in Phoenix, 960 E. University Drive in Tempe, 9935 W. McDowell Road in Avondale and 1945 S. Stapley Drive in Mesa. The company also operates seven Raising Cane’s restaurants in Nevada, with plans for two additional locations. The concept for Raising Cane’s was started in 1996 in Baton Rouge, LA. The quick-service restaurant chain was named in the Top 3 on Sandelman’s 2012 and 2013 Excellent Fast-Food Chains list.