TUCSON, ARIZONA — The Canadian parent company of Circle K, Couche-Tard, that owns San Antonio-based Corner Stores brand of convenience stores, closed on five Tucson locations last week for $5.16 million in a bulk sale, or an average sales price of $1,092,475.

If your Corner Store hasn’t rebranded yet, it will next week to a Circle K as signage is changed at the following locations:

• 8395 N Thornydale Road, Tucson (at Cortaro)
• 10410 N La Canada Dr, Oro Valley (at Lambert Lane)
• 2088 W Orange Grove Road, Tucson (at La Cholla Blvd)
• 4685 E Valencia Road, Tucson (at Benson Highway)
• 920 E 22^nd Street, Tucson (at Park Ave.)

The Quebec-based Alimentation Couche-Tard is the parent company of Tempe-based Circle K, and  agreed to its $3.7 billion merger with CST Brands Inc.in 2016.

CST Brands became a Fortune 500 company overnight upon spinning off from Valero Energy Corp. in 2013. Then after selling off more than 200 stores to satisfy antitrust regulators in the U.S. and Canada. Couche-Tard’s global operations, Statoil, Couche-Tard, Mac’s, and Circle K are its key brands. will have gained more than 1,300 stores in both countries via the merger, expanding its footprint to almost 9,500.

The Circle K acquisition established the Canadian firm as a major player in the US market while Statoil moved it into Europe. The fragmented US convenience store market and trend by major oil companies to cast off their retail operations has afforded Couche-Tard ample opportunity to acquire small, independently-operated chains, and occasionally a big fish. With about 70% of its sales (even more in the US) coming from gas, Couche-Tard is vulnerable to fluctuations in motor fuel prices. To protect itself from such volatility, the retailer is focused on developing its in-store merchandise sales (especially fresh foods), which return higher margins and are less volatile.

CST’s Corner Stores eventually will be all be branded Circle K.

To learn more, see RED Comp #5839, #5838, #5836, #5835 and #5834.

TUCSON, Arizona — Nestled along the base of the Pusch Ridge Mountains, the Oracle Road Corridor from the Town of Oro Valley to Catalina has many new developments reporting ‘business exceeds expectations’.

The Canyons at Linda Vista Trail Apartments at 9750 N Oracle Road in Oro Valley, owned and developed by Ross Rulney and Malcom Berman opened this past October.  This upscale lifestyle apartment community with 228 luxury apartment units is reporting a 60 percent occupancy already.

“The community is leasing at a quicker pace than we had expected, and we are very pleased with its success,” said Rulney. The tenancy is also diverse, with single professionals, families, as well as retirees looking to downsize.

Kneaders Bakery & Café that also opened this past October is reporting the second highest sales volume of Kneaders’ 41 locations. Located at 9660 N Oracle Road in Oro Valley, the restaurant appears to be have been well received by the locals.

Building on success such as this, Rulney has a new multitenant retail building under construction at the Canyons.  Debbie Heslop, CCIM, with Volk Company told us Growlers USA, a microbrewery and a Nail Salon have preleased portions of the 8,000-square-foot building, leaving 4,500-square-feet for a possible restaurant concept tenant in this 40,600-square-feet planned retail center on 7 acres at full build out.Site Plan for The Canyons Retail and The Canyons at Linda Vista Trail Apartments

Nearby, at Oracle and First Ave., Steam Pump Village is 100% leased.

Brenna Lacey and Rick Volk with Volk Company handle Steam Pump Village and told us Native Grill & Wings and Freddy’s Custard and Steakburgers are both well under construction for Spring openings.  This will be Freddy’s 4th location in the metro Tucson region and Native’s 5^th.

Lacey who has handled the 42 acres of retail at Steam Pump Village from inception says, “There are only two retail pads remaining and one of those is in escrow. The last remaining 60,000-square-foot pad is next to Basis School.”

“The Oracle Corridor is maturing as a trade area and filling in with more diversity,” Lacey said. Oro Valley is an upscale community with per capita income among the highest of any in Arizona, with a median household income of $71,628.

Continuing north along Oracle, the small community of Catalina is also benefiting from this growth.

Circle K Stores recently purchased a 2.25 acre parcel in Catalina for $795,000 ($8.11 PSF) to add a new store next to McDonald’s, Family Dollar and Canyon Bank, across the street from the new Tractor Supply, all newly built.

To learn more, see RED Comp #4584.

For more information, Heslop, Volk and Lacey can be reached at 520.326.3200.

TEMPE, AZ –  Circle K Stores renewed and expanded its presence at Warner Crossing at their currently occupied space at 1130 W. Warner Rd., Tempe, while expanding into 1120 W. Warner Rd. for a total of 104,321-square-feet that included 75,489-square-feet at 1130 W. Warner and 28,832-square-feet at 1120 W. Warner.

Rick Lee, Principal and Conner Lee, Associate, both with Lee & Associates negotiated on behalf of the landlord, iStar Financial, New York, NY, while Mike Beall with Cushman & Wakefield represented the tenant, Circle K Stores.

Both back office buildings, built in 1996-1997, offer abundant parking and are surrounded by an outstanding labor force. Warner Crossing is located within one mile of over 2.5 million SF of new retail and hotels and just east of the I-10 Freeway and minutes from Phoenix Sky Harbor International Airport.

For more information, Rick Lee can be reached at 602.954.3742 and Conner Lee is at 602.474.9516.