TUCSON, ARIZONA, APRIL 28, 2023 – Three Quik Marts in Tucson were recently sold for $7.17 million by Southwest Convenience SPE, LLC of Solano Beach, CA and negotiated by NNN Property Group of New York, Glenn Kunofsky and James Westerberg.
- Quik Mart at 7895 East Golf Links Road sold for $2,148,000 ($980 PSF) for the 2,191-square-foot building, built in 1989, on .7 acres, located at the northwest corner of Golf Links and Pantano Road.
- Quik Mart at 3250 W Cortaro Farms Road sold for $2,548,000 ($963 PSF) for the 2,646-square-foot building, built in 1982, on .42 acres, at the northeast corner of Cortaro Farms and Club Drive.
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- Quik Mart at 4280 East Benson Hwy sold for $2,474,000 ($1,065 PSF) for the 2,325-square-foot building, built in 1972, on .97 acres, at the southwest corner of Benson Hwy and Columbus Blvd.
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The three-property portfolio sold with a 5.36% average cap rate with long-term NNN leases in place to Quik Mart.
Quik Mart is the Largest Independent Convenience Store in the Tucson Metropolitan Statistical Area. The Company has Earned the Title of “Best Convenience Store” by the Arizona Daily Star’s Reader’s Choice Award for the Past Three Years. Founded in 1965, Quik Mart has become known as the Local Choice in the Tucson Convenience Store Marketplace. Many Patrons Consider the Stores as a Secondary Source of Groceries
The investment groups were from El Paso, TX, EP Paseo South Holdings, LLC, c/o Phillip Gaddy, manager, and 4280 Benson, LLC, c/o Dantex Construction, Tyler Daniels, president.
For more information, Kunofsky and Westerberg can be reached at 332.345.2408.
To learn more, see RED Comps #10593, #10594, and #10595.