TUCSON, Ariz. – CBRE announced the $1.7 million ($121 PSF) sale of a 14,000-square-foot single-tenant net-leased retail property located at 3719 N. Oracle Road in Tucson, Arizona. The building has been occupied by Boot Barn since 1985 and it renovated its building in 2013.
Nancy McClure of CBRE in Tucson represented the seller, Albuquerque-based WWT LTD, CO. The buyer was Newport Beach, California-based investor The Capo Beach QPRT dated October 12, 2012. “The property attracted multiple offers from investors who were looking at Boot Barn’s stability in the location, strong sales and a newly-extended lease term, said Nancy McClure., continuing, “Single-tenant net leased investments of this size continue to drive the retail investment activity with individual investors.”
Located in the Tucson Mall retail hub, the property is convenient to a wide trade area, given its near proximity to Interstate 10.
Boot Barn is a publicly-traded company (NYSE: “BOOT”) with 218 stores in 31 states, that sell western wear.
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