MARANA, ARIZONA -- QuikTrip Corporation purchased approximately 80,000-square-feet of land in Marana, at the northwest corner of Tangerine and I-10 from Tangerine/I-10, LLC, an affiliate of Cottonwood Properties for $1,506,410 ($18.83 PSF). Quik Trip plans to build a fueling center/convenience store at this location in the near future. This will be QuikTrip's 20th store in the metro Tucson area.
The property is part of Tangerine Commerce Park, being developed by Cottonwood Properties (David Mehl, President). Tangerine Commerce Park is Northwest Tucson’s next major commercial interchange. Cottonwood owns approximately 100 acres that front on the four lane fully improved Tangerine Farms Road. Tangerine Commerce Park is zoned to accommodate a range of retail, office and industrial uses. Our first major tenant is Ventana Medical Systems, a subsidiary of Roche – the world’s largest biotech company. Tangerine Commerce Park has high visibility from the I-10 freeway and is only 25 minutes from Tucson International Airport and 75 minutes from Phoenix Sky Harbor Airport. It is located in the pro-business Town of Marana with direct access to Oro Valley via Tangerine Road and close proximity to Gladden Farms and Dove Mountain.
Businesses in Tangerine Commerce Park may qualify for the Town of Marana’s Job Creation Incentive Program (MJCIP). The program includes employee relocation allowances of up to $3,000 per employee as well as a training and internship allowance. Additional allowances are available for I-10 corridor “beautification” for landscape, building facades and signage. Allowances are made through construction tax reimbursements. Marana also offers Expedited Development Review Incentives.
QuikTrip Corporation is a privately held company headquartered in Tulsa, Oklahoma. Founded in 1958, QuikTrip has grown to a more than $11 billion company with 850 stores in eleven states. Those revenues place QuikTrip high on the Forbes listing of largest privately held companies. QuikTrip’s strategy is to be the dominant convenience/gasoline retailer in each market and to reach that level not through sheer numbers of stores, but through key, high-volume locations. With over 24,000 employees, Fortune has ranked QuikTrip on the list of Best Companies To Work For for fourteen years. QuikTrip also gives back to the communities it serves, donating 5% of net profits to charitable organizations.
The purchaser was represented by Randy Emerson of GRE Partners. For more information, Emerson should be reached at 520.777.4949.
To learn more, see RED Comp #8150.