Green Valley, AZ (September 25, 2024)—The newly constructed Tractor Supply store at 75 N Albrego Drive in Green Valley sold in a net-leased sale for $6,507,937 ($298 PSF). The seller, Tractor Supply, will lease it back with a 15-year lease, with 5% rental increases every five years throughout the initial term and options.

The property sold with a $6.4mm guaranteed income over the base lease term or a 6.5% cap rate.

The 21,838-square-foot Tractor Supply building, built in 2024 on 4.08 acres, is located northwest of Esperanza Rd and Abrego Dr in Green Valley.

Tractor Supply Company (TSCO) was founded in 1938. It is an American chain that sells products for home improvement, agriculture, lawn and garden maintenance, livestock, equine, and pet care. It caters to recreational farmers and ranchers, pet owners, and landowners. The company has 2,250 stores and is headquartered in Brentwood, Tennessee. It is publicly traded on the Nasdaq under the ticker symbol TSCO and is a Fortune 500 company.

The transaction closed on September 19, 2024.

The California investor was in a 1031 Reverse exchange.

Berkley Capital Advisors of North Carolina handled the transaction. Calvin Short and Aron Cline were the brokers.

For more information, Short and Cline can be reached at 704.379.1980.

To learn more, subscribers should refer to RED Comp #11493.

TUCSON, AZ (September 20, 2024) – A four-tenant Retail Strip Center at 5700-5704 E Broadway Blvd. sold recently for $1,264,000 ($193 PSF / $316,000 per retail space).

The sale closed August 26, 2024.

Jeramy Price of VOLK Company represented the buyer, Bynum Broadway Plaza, LLC of Tucson, in purchasing an approximately 22,366-square-foot parcel with approximately 6,500 square feet of improvements.

The tenants in place are: Vape Shop, Nail Spa, Straight Edge Barbershop, Grace Barra Jui Jitsu / Martial Arts Tucson.

The seller, S. Leonard Scheff and Susan Sheppard Scheff Revocable Living Trust,  was represented by Erik Chapman of Chapman Management Group.

For more information, Price can be reached at 520.441.4771 and Chapman is at 520.622.5544.

To learn more, see RED Comp #11452.

ORO VALLEY, AZ (September 19, 2024) — Cushman & Wakefield | PICOR facilitated the sale of Sunnyslope Apartments in Oro Valley. The Multifamily team, led by Allan Mendelsberg and Joey Martinez, managed the transaction.

Sunnyslope Apartments sold for $5.6 million, or $133,333 per unit. The property features 42 units, including 41 one-bedroom/one-bathroom apartments and one studio unit.

Sunnyslope Apartments is set against a stunning desert backdrop, offering residents mountain views. The complex has recently undergone significant renovations, combining renovated and non-renovated units. The renovated apartments feature modern kitchens with contemporary finishes, including quartz countertops and stainless-steel appliances. Additionally, select units have been upgraded to include in-unit washers and dryers.

The property also includes communal amenities such as a swimming pool, picnic area with barbecues, and well-maintained walkways throughout the grounds. The overall environment is designed to enhance resident comfort and convenience.

As Oro Valley’s multifamily pipeline shrinks, properties like Sunnyslope Apartments are becoming increasingly valuable in the market. This sale reflects the strength of Oro Valley’s multifamily market, characterized by high demand and limited inventory. The current commercial real estate landscape in Oro Valley showcases a competitive environment where properties are highly sought after due to the area’s appealing lifestyle amenities and scenic surroundings.

For additional information, Mendelsberg can be reached at 520.546.2721, and Martinez is at 520.546.2730.

To learn more, subscribers should refer to  RED Comp #11481.