MARANA, ARIZONA, April 5, 2023 -- Tempe-based convenience store chain Circle K and its Canadian parent company, Alimentation Couche-Tard purchased a 35,000-square-foot padded lot at Villagio, a mixed-use retail development at the northwest corner of Thornydale and Tangerine Roads.
The seller/developer was Phoenix-based, Old Lobos Villagio, LLC, an affiliate of the Ault Companies (Ron Ault, manager), and the property sold for $950,000 ($27.14 PSF).
The transaction closed on March 30, 2023.
“Even with the current economic challenges, shopping centers based on sound real estate fundamentals still make sense,” said Ron Ault, principal with the Ault Companies. “Good location is still the strongest key to the success of a project. Our new centers at Tangerine and Thornydale enjoy a large potential customer base and enviable exclusivity due to a lack of nearby competition.”
The new Circle K stores feature Circle K brand fuel and a larger, new-to-market prototype design with up to 5,200 square feet and join National tenants such as Fry’s Marketplace, AutoZone, McDonald’s, Chase Bank, and Dairy Queen at this intersection.
There are 5,862 Circle K retail stores in the United States as of February 20, 2023. Arizona has the most locations for Circle K, Phoenix metro with 151 and Tucson metro with 94 stores.
Matthew Ault with Kidder Mathews (Phoenix) represented the seller in the transaction and Nick Ault with Southwest Edge (Phoenix) represented the buyer.\
For more information, Mathew can be reached at 602.513.5128 and Nick should be contacted at 602.774.3636.
To learn more, see RED Comp #10572.