TUCSON, AZ—The new Black Rock Coffee Bar at 7505 East Broadway Blvd in Tucson, a promising investment opportunity, has been sold for a substantial $2.55 million ($1,271 PSF). This absolute net leased, corporate-guaranteed, drive-thru Black Rock Coffee Bar investment property is at the intersection of Broadway and Prudence in Tucson. The lease is an absolute net, relieving the landlord of any responsibilities and promising a lucrative return on investment.

The new 2,000-square-foot Black Rock Coffee Bar store opened in March 2024, showcasing the boutique coffee chain’s signature industrial modern design.

Black Rock Coffee Bar, a well-established concept with over 130 locations and a history of 15+ years, is the tenant of this property. The tenant, Black Rock Store Operations, LLC, has signed a secure 15-year lease with 4 (5-year) options to extend. The lease features 10% rental increases every five years throughout the initial term and at the beginning of each option period, ensuring a steady growth of NOI and providing a reliable hedge against inflation.

With an estimated 3-mile population density of over 125,000 and traffic counts of over 45,000 cars per day. This coffee location benefits from being on the going-to-work side of the road,  on Broadway, Tucson’s heaviest traveled East/West thoroughfare.

This is the fifth Black Rock Coffee Bar in Tucson. Black Rock Coffee is celebrating the grand opening of its 38th store in the vibrant Phoenix metro area – this time making its debut in San Tan Valley.

Founded in 2008 in Portland, Oregon, an area of the Pacific Northwest known for its coffee excellence, Black Rock Coffee Bar continues its rapid expansion in the West and into the Sunbelt with locations in Arizona, California, Colorado, Idaho, Oregon, Texas, and Washington. The boutique coffee chain was recently named the Fastest Growing Private Company in Oregon and SW Washington in 2021 by the Portland Business Journal. In 2023, Black Rock Coffee Bar ranked 1179th among America’s Fastest-Growing Private Companies by Inc. Magazine’s 5000 Annual List.

Jermay Price with Volk Company of Tucson handled the transaction and can be reached at 520.441.4771 for more information.

To learn more, see RED Comp #11220.

TUCSON, AZ (April 18, 2024) — Jeramy Price of VOLK Company represented SS Enterprise Holdings, LLC of Phoenix, in its purchase of a 1.42-acre, approximately 61,834-square-foot pad at 5075 E Valencia in Tucson for $1.2 million ($19 PSF) in Valencia Crossing Commercial.

The property is strategically located adjacent to a 7,328-square-foot Quik Trip travel center being built at the northwest corner of Valencia Crossing Drive and Valencia Road, near I-10. The QT will have a 16-lane gas island and a 6-lane diesel island.

The buyer has earmarked the pad to develop a Super Star Car Wash.

Lennar has sold 162 homes east of Valencia Crossing Drive, and Meritage is developing 165 lots north of Lennar. The property to the north of the commercial pad areas and west of Valencia Crossing Drive has been sold to an apartment developer, and 368 units are planned.

The transaction closed on March 19, 2024.

Derrick Sinclair, CCIM, with Terramar Properties, represented the seller, Valencia Crossing Long Term Investment, an affiliate of Terramar.

This will be the fifth site for Super Star Car Wash in metro Tucson; those open are at:

• 5225 E Speedway Blvd;
• 1505 W Valencia Road; and
• 401 W Orange Grove Road

The fourth location is under construction at 13550 E Colossal Cave Road in the Vail area of Tucson.

For more information, Price can be reached at 520.441.4771, and Sinclair is at 520.577.7800.

To learn more, see RED Comp #11233.

TUCSON, AZ (April 17, 2024) — Maison Solutions Inc. (Nasdaq: MSS), a chain of supermarkets offering traditional Asian and international food and merchandise, announced last week that it had acquired Lee Lee Oriental Supermarket, Inc. (Paulina and Meng Truong) through its wholly owned subsidiary AZLL, LLC for $22.2 million.

Lee Lee Oriental Supermarket, Inc., Arizona’s largest international supermarket, has been a beacon of diversity for 30 years. It offers various groceries, live and fresh seafood, meat, and exotic produce worldwide, making it a unique and valuable addition to Maison Solutions Inc.’s portfolio.

The acquisition of Lee Lee Oriental Supermarket, Inc. was a significant investment for Maison Solutions Inc. The total purchase amount of $22.2 million will be paid over ten months, with an initial cash payment of $7 million at closing and the remaining balance through a secured note agreement.

The purchase was for Maison to enter the Arizona market with an established base of stores before starting expansion.

“This transaction demonstrates our strategy of expanding by acquisition in geographic locations with large and growing Asian and ethnic populations,” John Xu, Maison’s president and CEO, said in a statement. “Lee Lee International Supermarkets has an established brand presence in Arizona and is a perfect fit for Maison, giving us a base for further regional growth.”

Lee Lee’s store at 1990 W. Orange Grove Road in Tucson is about 51,000 square feet. The retail center, Lee Lee Plaza, at Orange Grove and La Cholla also has a Vietnamese and BBQ restaurant.

The other two stores in Peoria and Chandler are about the same size and include a Vietnamese restaurant, bakery, boba tea store, and jewelry store.

Maison was founded in 2019 and has grown by acquiring four traditional Asian supermarkets in the Los Angeles area that operate under HK Good Fortune. Maison completed its initial public offering on October 10, 2023.

“The strategic acquisition is expected to add approximately $70 million in annual revenue, effectively doubling our current size. We remain committed to future growth through new store openings and acquisitions,” Xu said in a statement.