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Perhaps the highest priced Walgreens sale in Arizona, aka store #298 for builder / seller, Evergreen-First & Grant, LLC, an affiliate of Evergreen Devco, Inc. of Phoenix; the Walgreens at 730 E Grant Road in Tucson sold for[mepr-show rules=”58038″]$9.055 million ($689 PSF). This 13,140-square-foot store (built 2013) with a drive-thru is located at the southeast corner of First and Grant on 1.16 acres.

“The property is a trophy asset due to its location, design and access,” Ken Gatt of Evergreen Commercial Realty told us.  “It is also one of the first stores in Arizona with the new ‘Wellness Experience’ Prototype, which is an improved prototype focused on the Pharmacy experience and building sustainability internally and externally.”

Property sold as an absolute Triple-Net (NNN) Corporate Lease where the landlord has zero responsibilities and the Lease is guaranteed by Walgreen. DPBI Tucson, LLC, a family owned group from Rhode Island purchased the property at a higher than average cap rate, due to the higher price.

The Walgreens was a relocation of a former store at Grant and Campbell, one of the highest Arizona volume stores, originally opened in 1960, which had no drive-thru; the new core in-fill location at a major arterial intersection has traffic counts exceeding 68,000 cars per day; located at a major retail intersection with Fry’s Grocery, McDonald’s, O’Reilly Auto and others.

Ken Gatt with Evergreen Commercial Realty in Phoenix represented the seller and Chris Kostanecki with Capital Pacific of San Francisco, CA represented the investor.

Gatt should be reached at (602) 808-8600 and Kostanecki is at (415) 274-2701.

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[mepr-show rules=”58038″]Sale date: 12/13/13. Transaction was a double escrow. In first transaction Evergreen purchased property from Walgreen Arizona Drug Company of Deerfield, IL for $6,338,590. The subsequent transaction was the upleg for DPBI Tucson in a 1031 exchange. Property sold with an NOI of $507,087 or a 5.6% cap rate. Walgreen cap rates are selling at 5.3%-5.4% cap rates, the higher cap was given due to higher price for property. Market time was Sept.- Dec. and escrow was a 30 days look and 30 day close. Seller also told us the Walgreens at 7115 E Tanque Verde, Tucson is being sold for 5.5% cap rate. APN: 123-13-091 & 123-13-129[/mepr-show]

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Lazydays RV, an affiliate of Lazydays Land Holdings of Seffner, FL reached an agreement to sell the Tucson campground to Kampgrounds of American (KOA) for [mepr-show rules=”58038″]$4.35 million. The upscale campground has 385-RV sites, 14,838-square-feet of improvements (built 2000) on 43.33 acres at 5151 S. Country Club Road in Tucson. Lazydays will keep and continue to operate the sales center and parts and service center in Tucson.

The property includes an 11,800-square-foot air-conditioned convention & RallyCenter, a recreation center complete with an on-site restaurant & bar and a store with sundries. There is also two air-conditioned laundry facilities.

There’s a work out room with treadmills, weights, stairmasters, etc., two swimming pools and two hot tubs. Site amenities include bocce ball, putting green, horseshoes, and other games. The campground is pet friendly and has a large and small dog park. The property has 24-hour security and RV storage facilities. The 385-RV Sites have 410 fruit trees (lemon, lime, orange, grapefruit) planted throughout the property at the camp sites.

Lazydays RV CEO Tim Sheehan said the agreement with KOA includes a marketing agreement that allows the two iconic outdoor industry brands to work together to promote both the campground and Lazydays RV, which will continue to operate a Lazydays RV dealership and service center at the Tucson site.

KOA President Pat Hittmeier said Lazydays’ culture of extraordinary customer care fits well with KOA’s focus on guest service. “I’m confident that the synergy created by combining our two respected brands will exceed our expectations at all levels,” Hittmeier said.

The property will now be known as the Tucson/Lazydays KOA Campground and be joining 484 other KOA locations throughout North America.

According to a survey released Monday by GE Capital’s Commercial Distribution Finance (CDF), the popularity of recreational vehicles grew significantly in 2013, leading RV dealers to look hopefully toward the new year.

According to a press release, one-third of the 130 survey respondents said they expect sales to rise 10% to 15% next year, and an additional 37% expect RV sales to grow 5% to 10%. No respondents expect declining sales in 2014.

“The overall mood of the industry is upbeat,” said Tim Hyland, president of CDF’s RV group. Respondents predicted that consumers will continue to favor travel trailers (50%), followed by motorhomes (31%) and fifth-wheel trailers (17%). This shows more variety in demand from last year, when travel trailers were predicted by 70% to be consumers’ first choice.

The RV industry survey of 130 respondents was conducted Dec. 3-5 during the annual Recreational Vehicle Industry Association (RVIA) National RV Trade Show in Louisville, KY. Two-thirds of the respondents were dealers and 26% were manufacturers.

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[mepr-show rules=”58038″]Sale date: 12/10/2013. All cash transation. APN: 140-05-005J[/mepr-show]

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YL Investments, LLC of Tucson (Yoram Levy, managing member) purchased a 3,222-square-foot  former Pyramid Federal Credit Union (FCU) branch location for [mepr-show rules=”58038″]$325,000 ($101 PSF). The property is on a 26,538-square-foot lot, or .61 acres located at 2850 N Country Club Road in Tucson.

Built in 1974, the buyer purchased it vacant for conversion to a multi-tenant office for two tenants. The buyer had the tenants prior to closing and will handle the leasing without agents.

The property became excess property after Pyramid Federal Credit Union merged with Southern Arizona Communications Credit Union, Tucson TELCO Federal Credit Union and Tucson Healthcare Affiliates Federal Credit Union to become one institution serving more than 16,000 members and counting.

The seller, Pyramid FCU (Ray Lancaster, CEO) and the buyer were represented in the transaction by Jon O’Shea and Aubrey Finkelstein of Vast Real Estate Solutions in Tucson.

For more information, Finkelstein should be reached at (520) 250-1204 and O’Shea is at (520) 624-9400. For marketing flyer Click Here [/mepr-show]

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[mepr-show rules=”58038″]Sale date: 12/5/2013. All cash deal. Escrow time was 45 days. Property is zoned C-1 in Tucson.[/mepr-show]