TUCSON, ARIZONA (May 2, 2025) – Agree Central, LLC, a subsidiary of Agree Realty Corporation (NYSE: ADC), a publicly traded real estate investment trust based in Royal Oak, Michigan, has acquired a freestanding retail property at 8730 E Broadway Blvd, Tucson, AZ for $3,031,200. The transaction closed on April 28, 2025, with the seller listed as Como Se Va LLC, a TCII Capital Group subsidiary of Aventura, Florida.
The 21,440-square-foot building on a 2.15-acre parcel was originally developed in 1981 as a Walgreens and is now being redeveloped as a Harbor Freight Tools store. Located at the high-traffic northeast corner of E Broadway Blvd and S Camino Seco Rd, the site offers 153 feet of frontage on Broadway, 210 feet on Camino Seco, and features 120 parking spaces, a drive-thru, and C-1 zoning for commercial/retail use.
According to the company, the new Harbor Freight store at this location will open in June 2025.
The acquisition by TCII Capital was strategically de-risked during due diligence, as the property became pre-leased to Harbor Freight Tools—a national leader in discount tools and equipment—before closing. The lease was secured by seller TCII, accelerating the asset's repositioning and ensuring a seamless transition from vacancy to long-term tenancy.
The property is part of Broadway East Plaza, a retail hub that includes a mix of service providers and national brands, enhancing the site's visibility and long-term performance.
This acquisition aligns with Agree Realty’s core strategy of acquiring and developing retail properties net-leased to industry-leading tenants. As of March 31, 2025, the company owned a portfolio of 2,422 properties across all 50 states, totaling approximately 50 million square feet of gross leasable space.
For more information about Agree Realty Corporation, visit www.agreerealty.com or call (248) 737-4190.
Reference: RED Comp #11883