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Multi-tenant Retail Pad at El Corredor Sold for $6 Million

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  • Multi-tenant Retail Pad at El Corredor Sold for $6 Million
3rd Quarter Sales
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August 9, 2022
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Karen Schutte
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ORO VALLEY, ARIZONA - A multi-tenant retail pad with four tenants sold at El Corredor in Oro Valley for $6 million ($575 PSF). The 10,433 square-foot building was built in 2020 on 1.1a acres at 9740 N Oracle Road, at the northeast corner of Oracle and Linda Vista in Oro Valley.  El Corredor is adjacent to a 228-unit high-end apartment community, Pusch Ridge Christian Academy (K-12) and Tucson El Conquistador, a Hilton Resort,  in Oro Valley.

Debbie Heslop of VOLK Company represented the seller, Boulder Oro Valley of Tucson (Ross Rulney).

“We received multiple full price offers on the property that wasn’t on the market very long,” Heslop said. “The location, strong tenant mix and good cap rate made it attractive to investors. The offer that was accepted is a family trust that Wells Fargo out of Denver, CO represented.”

Fully leased to four tenants in the building:  Freytag Orthodontics, La Posada Sales Office, F4 Fitness Studio and SEIS Kitchen. All with long term leases remaining.

Freytag Orthodontics is one of two locations in the Tucson area. Founded in the Kansas City area and has served over 45,000 orthodontic patients since 1977 with 12 locations in Kansas City Metro area, and four offices in Missouri.

La Posada Sales Office supports their newest development in Oro Valley. La Posada’s history dates to the mid-1980’s when the highly renowned Tucson Medical Center (TMC) began their award-winning, multi-faceted retirement community that today serves as a national model. They offer a continuum of care from Independent Living to Assisted Living.

F45 Fitness is owned and operated by a franchisee with 5 studios in the metro Tucson area. The fitness franchise that began in 2011 now has over 1,750 studios in 45 countries across Australia / Oceanic, North America, South America, Asia, Europe and Africa. It is currently one of the fastest growing fitness franchises globally with over 650 locations in the United States.

SEIS Kitchen is a popular restaurant in the area with three locations in Tucson and a loyal following. SEIS specializes in regional Mexican cuisine, offering dine-in, takeout, or delivery to suit customers preferences. SEIS also offers catering.

Hook McCullough with Newmark represented the investor.

For more information, Heslop should be contacted at 520.495.2235.

To learn more, see RED Comp #10082.

PHOTO: El Corredor Neighborhood Retail Center

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