TUCSON, Arizona – A California investor from Alamo, CA, FLM LLC, traded into the acquisition of a Starbucks outpad at 1765 West Valencia Road in Tucson for $2.66 million ($850 PSF).
Brenna Lacey and Kevin Volk of Volk Company represented the seller, Steamroller Pad LLC (Richard Volk, manager) in the net leased investment sale at the southwest corner of Valencia and Indian Agency Roads.
The 3,130-square-foot drive-thru restaurant was built in 2017 and is part of the Valencia Marketplace Shopping Center, anchored by a 100,000-square-foot Fry’s.
The buyer was represented by Jim and Craig Kovaleski, formerly with Cushman and Wakefield, now with CBRE. This was its first investment in Tucson.
To learn more, Lacey and Volk should be reached at 520.326.3200 and the Kovaleski’s can be contacted at 408.453.7400.
[mepr-show rules="58038"]Sale date: 3/8/2019. Document #2019-0970188. Property sold with an NOI of $127,946 and a 4.81% cap rate and a $40.88 per SF / NNN lease rate.[/mepr-show]