TUCSON, ARIZONA -- Elliott Partners, Ltd. purchased a 44,504-square-foot industrial warehouse building located at 3130 S. Dodge Blvd. in Tucson for its new store. This will be the first Elliott Electric Supply (EES) in Tucson that serves the contractor market.
Bill Elliott, founder and current chairman of EES, first entered the electrical distribution industry after graduating from Louisiana Tech University in 1960. Established in 1972 in Nacogdoches, Texas, the company has grown to 140+ locations in Texas, Louisiana, Oklahoma, Arkansas, Georgia, Kansas, New Mexico and now will have four locations in Arizona.
Since the beginning, Elliott Electric Supply has kept a compounded growth rate of 15-20% on average. That growth in the company is beneficial for more than just EES employees--the expansion also benefits customers and the industry as a whole. In meeting its annual goal of 15% growth, it strives for half of the growth to come from expansion of existing markets and the other half to come from new locations.
With annual sales of $845 million, during challenging economic periods, Elliott Electric Supply's business model ensures that the company not only survives but thrives. Its financing is primarily internal, and, at half the industry average, the company is proud its debt rate is uncommonly low. We are therefore often in a position to invest when other companies are not. Additionally, our customer base is well balanced, with residential and commercial-based clients as our primary market, supported by business with industrial, institutional, and government-based clients.
The property was purchased from DRD Group, LLC for $2.8 million ($63 PSF). Brandon Rodgers, SIOR, CCIM, and Robert C. Glaser, SIOR, CCIM, Principals and Industrial Specialists with Cushman & Wakefield | PICOR, represented the seller in this transaction. Dave Blanchette, CCIM, with NAI Horizon, represented the buyer.
To learn more, see RED Comp #7111.