TUCSON, AZ (December 20, 2023) – A San Jose, CA buyer traded into the Dollar General store at 12059 West Clark Farms Blvd. in Marana for $2.05 million ($216 PSF).
The 9,504-square-foot store was built in 2019 near Gladden Farms in Marana, Arizona. The NNN lease was sold with 15 years remaining on an absolute triple net lease with 10% rent increases and five 5-year options.
The last Dollar store to sell in Tucson was back in February at 7440 S Wilmot Road and sold for $2.4 million and a 5.25% cap rate. Cap rates have risen since then.
Dave Hammack with Cushman & Wakefield | PICOR represented the seller, Scalzo-Ostermiller, LP, a San Juan Capistrano, CA, entity.
The buyer, Redwood Villa of San Jose, CA, was in a 1031 exchange and represented by George Renz with RENZ & RENZ, also from California.
For more information, Hamack can be reached at 520.546.2712, and Renz is at 480.846.1031.
To learn more, see RED Comp #11033.