TUCSON, AZ (April 25, 2024) — Debbie Heslop of VOLK Company represented the seller, LDR Enterprises, L.L.C., in the $1,810,945 ($7.56 PSF) sale of approximately 239,580 square feet of land, approximately 5.5 acres, located at the northeast corner of 22nd Street and Wilmot Avenue.

The transaction closed on April 3, 2024.

“With C-2 zoning, the acreage had lots of interest for apartment sites and other mixed uses,” Heslop said. “Most came in too late, after it was already in escrow.”

The purchaser, Chapman Automotive Group, LLC, plans to develop the land into an automobile dealership. Tim Newquist of Newquist Investments, as developer, handled the transaction for Chapman Automotive.

The Chapman Automotive Group has 25 locations and 18 brands in Phoenix, Tucson, Payson, Yuma, and Las Vegas. Its staff is nearly 2,284 people strong, and all are committed to delivering the best ownership experience possible.

For more information, Heslop should be reached at 520.495.2235.

To learn more, see RED Comp #11228.

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 15, 2024) — The speculation is over that ALDI Supermarket will be coming to Tucson Marketplace at the Bridges. ALDI purchased 2.05 acres of land at 871 E Tucson Marketplace for $2.2 million ($24.64 PSF) to construct a 20,870-square-foot store.

The transaction closed on April 9, 2024, with permits submitted in November 2023.

This is ALDI’s first land purchase in Tucson MSA. The company already operates stores in Phoenix, Goodyear, Chandler, Gilbert, and Queen Creek in the state.

The Tucson location is part of what ALDI calls an “aggressive national expansion” over the past year. ALDI runs more than 2,362 stores in 39 states and 1,619 cities and aims to be the third-highest number of stores among grocery chains in the U.S., with plans to open 800 new stores by 2029. In 2023, ALDI committed to opening 120 new locations across the nation.

The German grocery chain’s business model offers shoppers the best products at the lowest possible prices. It will join Dave & Buster’s, Cinemark Theaters, Costco, Walmart, and 22 other retailers at Tucson Marketplace at the Bridges.

Tucson shoppers might not be used to some of the strategies ALDI uses to keep prices low.

They include:

• Shoppers must put a quarter into a shopping cart to unlock it. This means that ALDI doesn’t need to hire employees to gather loose carts. Shoppers get their quarter back when they return their cart.
• ALDI doesn’t supply single-use plastic bags. Shoppers are encouraged to bring their reusable bags, which can be purchased at the checkout for those who forget.
• ALDI stores have a much smaller footprint than traditional grocery stores, with 12,000 square feet of retail space.
• Around 90 percent of products sold at ALDI are brands exclusive to the retailer. ALDI guarantees its products are as good as or better than national brands.

Aldi offers customers a much smaller selection of groceries than other grocery stores. For example, while many other stores offer around 40,000 items, Aldi usually has under 2,000. Most Aldi locations have just five aisles for customers to peruse. While you can count on getting the essentials here and a few other specialty products, you won’t find too much variety of what’s in stock. While this might mean less to look at, Aldi also needs smaller stores, which means lower rent and utility costs. Lower costs for this corporation mean it can pass lower prices onto its customers, and that’s precisely how it works.

With rising grocery prices, inflation, and an increasing desire to eat healthier, ALDI’s entrance into the Tucson market has been met with enthusiasm by consumers who appreciate the chain’s unique, no-frills approach to grocery shopping.

As Aldi continues to make waves in the US grocery industry, consumers across the Southwest can expect to see the brand’s signature blue and orange logo popping up in more locations.

The seller was BP Bridge Partners, an affiliate of Bourn Properties, represented by Alan Tanner with Bourn Advisory Services. Ben Vesper, Arizona’s ALDI in-house real estate contact, handled the transaction.

To learn more, see RED Comp #11239.