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The O’Reilly Auto Parts building at 3740 E Grant Road in Tucson sold for[mepr-show rules=”58038″] $1.13 million ($161 PSF) to a company formed by David R Lee of Tucson, Grant Dodge, LLC. The 7,000-square-foot building was built in 1999 on a .90 acre lot northeast of Dodge Blvd. and Grant Road.

It was 100% leased to CSK Auto, Inc., which was purchased by O’ Reilly Auto Parts in 2008 (NASDAQ: ORLY) with a triple net lease with tenant at this high-traffic location with over 62,000 cars per day on East Grant Road.

O’Reilly Automotive, Inc. is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, serving both professional service providers and do-it-yourself customers. Founded in 1957 by the O’Reilly family, the Company operated 4,135 stores in 42 states as of September 30, 2013.

David Lee, a real estate broker with the David Lee Real Estate Company of Tucson represented the buying group. The seller was estate probate sale out of Petaluma, CA.

In a separate transaction, E & S Irving, LLC another company formed by David Lee purchased 2.11 acres of vacant land from Circle K Stores, Inc. of Tempe, AZ for $300,000 ($3.27 PSF). The property was purchased to hold for investment and is available for a built-to-suit or spec. retail use, zoned C-2.

The property is located southwest of La Cholla and River Road adjacent to Circle K on the corner.

Rob Tomlinson, a Retail Specialist with Cushman & Wakefield | Picor of Tucson represented the seller, Circle K. David Lee of David Lee Real Estate in Tucson represented the buying group.

Tomlinson can be reached at (520) 546.2757. Talk to Lee at (520) 795-3199 for more information.[/mepr-show]

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[mepr-show rules=”58038″]The O’Reilly property sold with a short term lease remaining of about 2-years. The buyer paid $830,000 down and financed the balance with conventional financing. APN: 122-16-109B. The land was purchased in an all-cash transaction. APN: 101-13-014E. [/mepr-show]

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Since becoming the first homebuilder listed on NASDAQ last month, LGI Homes is speeding up completion of contract agreements in Tucson for year end. The story of LGI Homes Successful IPO was published in the Real Estate Daily News on November 14, 2013. LGI is traded under the ticker symbol of LGIH.

LGI Homes has 93-lots under contract at Sonoran Ranch Estates, in Southwest Tucson. Phase I was for a 50-lot takedown in November for[mepr-show rules=”58038″]$1.225 million ($24,500 per finished lot) and the second phase of an additional 43-lots is scheduled to close before year end. Thrac Paulette of Vast Real Estate Solutions in Tucson represented the seller, Son. Land Company of Torrance, CA (John Agresti, manager).

LGI closed on 24-lots at Caddis Haley for $612,000 ($25,500 per finished lot) where they held the grand opening Nov 9^th at the 72 new home community in the Southwest submarket. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson handled the transaction for the seller, Caddis Bridge, LLC (Greg Anderson, manager).

In a separate transaction, LGI acquired 160 P&E lots in Blocks 7 & 8 at San Lucas in the Northwest submarket for $3.08 million ($19,250 per platted lot). The community is near Gladden Farms in Marana. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson handled the transaction for the seller, SL West, LLC (Greg Anderson, manager).

Feig and Mendenhall can be reached at (520) 747-4000 and Paulette is at (520) 624-9400 for more information.[/mepr-show]

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Marana Development Group, LLC an affiliate of Baseline Development, LLC of North Carolina purchased 4.34 acres from 2030 East, LLC (Eddy Chernecki, principal) for[mepr-show rules=”58038″]$1 million for construction of a Tractor Supply store. The land is located on the southwest side of I-10 Frontage Road between Ina and Cortaro Roads, adjacent and to the south of the Lasertel building at 7775 N Casa Grande Hwy in Marana. The buyer plans to begin construction before year end for the opening of Tractor Supply’s first location in the area for Spring 2014.

Tractor Supply Company (NASDAQ: TSCO) is the largest retail farm and ranch store chain in the United States. The company operates over 1,245 retail stores in 48 states, employs more than 18,000 team members and is headquartered in Brentwood, Tenn.

The company was founded in 1938 as a mail order catalog business offering tractor parts to America’s family farmers. Today Tractor Supply is a leading edge retailer with revenues of approximately $4.7 billion.

Tractor Supply stores are primarily located in rural areas and the outlying suburbs of major cities. The typical Tractor Supply store has 15,000-24,000 square feet of inside selling space with a similar amount of outside space used to display agricultural fencing, livestock equipment and horse stalls.

Stores supply the unique products to support their customers’ rural lifestyle, from welders and generators to animal care products and men and women’s workwear. You can also find pet supplies, animal feed, power tools, riding mowers, lawn and garden products and more. Each store team includes welders, farmers and horse owners who collectively provide an exceptional depth of knowledge and resources.

Tractor Supply is committed to fulfilling the needs of those who enjoy the rural lifestyle: folks who frequently describe themselves as hobby farmers and hobby ranchers. It is estimated that the “hobby” or “pleasure” farmer consumer segment spends more than $5.5 billion annually on farm supplies. Today less than 10 percent of the company’s customers classify themselves as full-time farmers or ranchers. In fact, Tractor Supply’s largest customer segment does not farm at all. They are more aptly described as rural or suburban homeowners, or “self-reliants.”

Tractor Supply is continuing to grow with new stores. In Arizona, Tractor Supply opened its first store this year in Prescott Valley followed by seven other locations in Benson, Sierra Vista, Thatcher, Miami (Globe), Show Low, Wickenburg and Kingman that opened November 9th. Three additional stores are under development in Buckeye, Yuma and now Marana, with other sites being considered the company continues to look for additional locations throughout Arizona.

Thrac Paulette of Vast Real Estate Solutions in Tucson represented the seller and David Long of PK Realty in Phoenix represented the buyer.

Paulette has another 3.07 acres adjacent to the Tractor Supply property still available and can be contacted at (520) 904-5055 for more information. Talk to Long at (602) 574-0731.

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Property closed on 11/26/2013. Buyer paid $25,000 down with balance financed with conventional financing. Escrow time was 5 months due to plan approval. The property had all utilities will be leased to Tractor Supply [/mepr-show]