Announcing the $2,437,500 sale of real estate leased to Oregano’s Pizza Bistro in Tempe, Arizona. The 3,860 square foot freestanding restaurant building has been occupied since the mid 1997 by Oregano’s. The original building was constructed in the 1950’s.
The property address is 523 W. University Drive, Tempe.
Wetta Ventures (David Wetta and Paul Salinas) led the investor group called Oregano’s Tempe Lease, LLC, in purchasing the property on April 30th, 2010 for $1,500,000 from Oregano’s and simultaneously executed a long term sale lease-back. The property was sold to Scottsdale based S.T.O.R.E Capital on August 13, 2013 for $2,437,500.