TUCSON, ARIZONA – A three property portfolio of Dollar General stores sold for an aggregate $5.16 million and more land purchased in Amado and Red Rock for additional new stores.  DCM Development of Tucson (Chris Lechner, managing member) is the developer for Dollar General and has told us stores have buyers before being completed. A secure ‘Amazon-proof’ tenant, with good cash flow, and absolute triple net long term leases terms account for this investment popularity.

Dollar General offers products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at low everyday prices in convenient neighborhood locations.

In addition to high quality private brands, Dollar General sell products from America’s most-trusted manufacturers such as Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo.

• Jay Umiya DG, LLC purchased a 9,100-square-foot Dollar General building at 7440 S. Wilmot Rd. in Tucson, from DCM Development Company, LLC for $1,900,000 ($209 PSF).  Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller; Mark McLoone with Retail Investment Group, LLC, represented the buyer.
• PS Investment, LLC purchased a 9,100-square-foot Dollar General building at 20 S. Lee St. in St. David, AZ., from DCM Development Company, LLC for $1,715,000 ($188 PSF).  This is the only Dollar General store in St. David. Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller.
• Spence Family Trust purchased a 9,100-square-foot Dollar General building at 1323 E. High St. in Sunsites / Pearce, AZ from DCM Development Company, LLC for $1,543,500 ($170 PSF). This is the only Dollar General store in Sunsites / Pearce. Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller; John Espinosa with Lee & Associates, represented the buyer.

DCM Development Company, LLC then purchased 1.62 acres of vacant land at 28890 S. Nogales Hwy. in Tucson, from Pierce Construction, Ltd. for $170,000 ($2.41 PSF).  Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the buyer in this transaction.

Three weeks into construction on the Amado and Red Rock Dollar General stores, Hammack is marketing both properties at a 6.25% cap rate to investors.

For more information, Hammack should be contacted at 520.546.2712.

Login in for additional information and see RED Comp #6007 and #5996.

[mepr-show rules=”58038″]Dollar General at 7440 S. Wilmot Rd. in Tucson sold with a 6.09%. Cap rates on the other two were both 6.5% in smaller outlying communities.[/mepr-show]

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from July 16 thru 20, 2018.

INDUSTRIAL – 6161 S. PALO VERDE, TUCSON
Carroll’s, LLC, dba Big O Tires, leased 64,744-square-feet at 6161 S. Palo Verde Rd., Suite 100 in Tucson, with Colflin Cobalt I-II Owner, LLC.  Principals, Rob Glaser, SIOR, CCIM, and Brandon Rodgers, CCIM, with Cushman & Wakefield | PICOR, represented the landlord; Tom Louer with Lee & Associates, represented the tenant.

INDUSTRIAL – 2045 N. FORBES BLVD., TUCSON
Kuumba Made, Inc. leased 14,800-square-feet in Broadbent Industrial Center, 2045 N. Forbes Blvd., Suites 102A – 104 in Tucson, from Forbes Tucson, LLC.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord; David Volk with CBRE, represented the tenant. [mepr-show rules=”58038″]Tenant Phone: 520.881.5550[/mepr-show]

INDUSTRIAL – 3450 S. BROADMONT DR., TUCSON
Traxda, LLC leased 9,340-square-feet at 3450 S. Broadmont Dr., Suite 128 in Tucson, from Tin Cup Properties, LLC.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented both parties in this transaction. [mepr-show rules=”58038″]Asking lease rate: $7.32 – $7.80 SF/YR Modified Gross; Tenant Phone: 520.623.1663[/mepr-show]

OFFICE – 4279 S. SANTA RITA AVE., TUCSON
Adrian and Lizet A. Lopez leased 4,700-square-feet at 4279 S. Santa Rita Ave. in Tucson, from 4275 Santa Rita, LLC.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the tenant; Kevin Volk with Volk Company represented the landlord.  

INDUSTRIAL – 1131 W. GRANT RD., TUCSON
Monster Signs, LLC renewed their lease for 4,560-square-feet in Grant Interstate Commons, 1131 W. Grant Road, Suite 121 in Tucson, from the Sloat Family Partnership, LLLP.   Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.790.6400[/mepr-show]

OFFICE – 1661 W. GRANT RD., TUCSON
MBI Industrial Medicine, Inc. leased 4,500-square-feet at 1661 W. Grant Rd. in Tucson, from Romo Enterprises Limited Partnership.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.807.1060[/mepr-show]

INDUSTRIAL – 3450 S. BROADMONT DR., TUCSON
Southwest Solutions AZ, Inc. leased 4,000-square-feet at 3450 S. Broadmont Dr., Suite 110 in Tucson, from Tin Cup Properties, LLC.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord; Roxanne Harding, Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant. [mepr-show rules=”58038″]Asking lease rate: $7.32 – $7.80 SF/YR Modified Gross; Tenant Phone: 520.207.1900[/mepr-show]

OFFICE – 1521 E. TANGERINE RD., TUCSON
Desert Sky Spine & Sports Medicine, PC leased 3,105-square-feet of office space on the Oro Valley Hospital campus, 1521 E. Tangerine Rd., Suite 201 in Oro Valley, from Windrose Tucson Properties, LLC. Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord; Thomas Coury with Great American Financial Corporation, represented the tenant. [mepr-show rules=”58038″]Tenant Phone: 520.229.2080[/mepr-show]

INDUSTRIAL – 3230 S. DODGE BLVD., TUCSON
Sunland Home, LLC leased 2,409-square-feet in the South Dodge Business Center, 3230 S. Dodge Blvd., Suites 1-4 in Tucson, from Presson Corporation.  Rob Glaser, SIOR, CCIM, and Max Fisher, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord; Frank Mercier, represented the tenant. [mepr-show rules=”58038″]Tenant Phone: 520.885.4400[/mepr-show]

OFFICE – 9595 E. SPEEDWAY BLVD., TUCSON
Peak Corrosion Control, Inc. leased 2,400-square-feet at 9595 E. Speedway Blvd. in Tucson, from Evans Insurance and Financial Services, LLC.  Kelly Fickle, a member of the Cushman & Wakefield | PICOR, Russell W. Hall, SIOR, GSCS and Stephen D. Cohen team, represented the tenant; Gordon Wagner with NAI Horizon, represented the landlord. [mepr-show rules=”58038″]Tenant Phone: 520.722.7484[/mepr-show]

INDUSTRIAL – 3220 S. DODGE BLVD., TUCSON
Curb A Peel Property Maintenance, LLC leased 2,335-square-feet in the South Dodge Business Center, 3220 S. Dodge Blvd., Suite 2 in Tucson, from Presson Corporation.  Rob Glaser, SIOR, CCIM, and Max Fisher, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.[mepr-show rules=”58038″] Tenant Phone: 520.647.6614[/mepr-show]

OFFICE – 2020 N. FORBES BLVD., TUCSON
Joey Mada Jr, WSB-WFG leased 2,074-square-feet at 2020 N. Forbes Blvd., Suite 104 in Tucson, from Santo Tomas Partners, LLP.  Brandon Rodgers, CCIM, and Ryan McGregor with Cushman & Wakefield | PICOR, represented the landlord; The team of Russell W. Hall, SIOR, GSCS, Stephen D. Cohen, and Kelly Fickle with Cushman & Wakefield | PICOR, represented the tenant. [mepr-show rules=”58038″]Asking lease rate: $13.50 SF/YR Modified Gross[/mepr-show]

INDUSTRIAL – 1009 S. EUCLID AVE., TUCSON
Cobra Tuc, LLC leased 2,040-square-feet at 1009 S. Euclid Ave. in Tucson, from Rich Rodgers South, Inc.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction.

OFFICE – 899 N. WILMOT RD., TUCSON
Institute for Liver Health, LLC has leased 1,915-sqaure-feet at 899 N. Wilmot Road, Suites E4 & E5, from Holland Arizona Investments, LLC.  Cameron Casey and Lori Casey of Oxford Realty Advisors handled the transaction. [mepr-show rules=”58038″]Asking lease rate: $17.00 – $20.00 SF/YR Full Service Net[/mepr-show]

RETAIL – 6021 N. ORACLE RD., TUCSON
Co-Op Salon, LLC leased 1,707-square-feet at 6021 N. Oracle Rd., Suite 111 in Tucson, from PP Two, Inc.  Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord; Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant. [mepr-show rules=”58038″]Asking lease rate: $27.00 SF/YR NNN[/mepr-show]

OFFICE – 1605 -1611 N. WILMOT RD, TUCSON
Atlantic Home Health Care leased 1,585-square-feet at the Dorado Park Offices located at 1605-1611 N. Wilmot, Tucson, AZ.  Andrew Sternberg with NAI Horizon Tucson represented both parties in the transaction.

OFFICE – 4345 E. BROADWAY BLVD., TUCSON
Emily Cadamagnai, State Farm Insurance, LLC has leased 1,535-square-feet at 4345 E. Broadway Blvd., Suite A, from 4345 E Broadway, LLC.  Cameron Casey of Oxford Realty Advisors represented both Tenant and Landlord in the transaction. [mepr-show rules=”58038″]Asking lease rate: $14.00 SF/YR NNN[/mepr-show]

RETAIL – 9136 E. VALENCIA RD., TUCSON
Viva Coffee House, LLC, dba Viva Coffee House leased 1,461-square-feet at Rita Ranch Shopping Center located at 9136 E. Valencia Road.  Dave Dutson with NAI Horizon Tucson represented the landlord in this transaction. Asking lease rate: $22.00 SF/YR NNN

INDUSTRIAL – 245 S. PLUMER AVE., TUCSON
Rachas, Inc. leased 1,200-square-feet in Commerce Plaza, 245 S. Plumer Ave., Suite 24 in Tucson, from Plumer Partners, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Asking lease rate: $7.80 – $8.40 SF/YR Modified Gross[/mepr-show]

INDUSTRIAL – 245 S. PLUMER AVE., TUCSON
Michael Myers leased 1,200-square-feet in Commerce Plaza, 245 S. Plumer Ave., Suite 31 in Tucson, from Plumer Partners, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Asking lease rate: $7.80 – $8.40 SF/YR Modified Gross[/mepr-show]

OFFICE – 7440 N. ORACLE RD., TUCSON 
Edward D. Jones & Co., LP leased 1,200-square-feet at 7440 N. Oracle Rd., Building 3 in Tucson, from Paul G. Hoffman and Eric A. Thomson.  Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the tenant; Juan Teran with Realty Executives, Tucson Elite represented the landlord.

RETAIL – 3553 S. 12^th AVE., TUCSON
CHAEG-IM Tae Kwon Do Academy, LLC leased 1,200-square-feet in Plaza Azteca at 3553 S. 12^th Ave., Suite 155 in Tucson, from NAI Investments, LLC.  Denisse Angulo-Badilla and Rob Tomlinson with Cushman & Wakefield | PICOR, handled this transaction.

RETAIL – 3020 W. VALENCIA RD., TUCSON
Filthy Paws leased 1,170-square-feet in Manzanita Plaza at 3020 W. Valencia Rd., Suite 271 in Tucson, from Community Centers of America-Glendale, LLC.  Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 3660 E. HARDY DR., TUCSON
Revolution Field Strategies, LLC leased 1,060-square-feet at 3660 E. Hardy Dr. in Tucson, from Abeyta Family Properties.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction.

INDUSTRIAL – 3921 E. 29^th ST., TUCSON
Scott Post dba Farmers Insurance, leased 810-square-feet in Midpoint Business Plaza, located at 3921 E. 29^th St., Suite 307 in Tucson, from Presson Midpoint, LLC.  Industrial Specialists and Principals, Rob Glaser, SIOR, CCIM, Paul Hooker, with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 4411 E. 5^th ST., TUCSON
Apex Applied Technology, Inc. leased 650-square-feet at 4411 E. 5^th St., Suite F in Tucson, from Midtown Professional Center, LLC.  Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Asking lease rate: $9.23 SF/YR Modified Gross; Tenant Phone: 520.395.7718[/mepr-show]

RETAIL – 918 W. IRVINGTON RD., TUCSON
The Eyrie Brazilian Jiu-Jitsu, LLC expanded their leased space at Placita del Rio located at 918 W. Irvington Road, Tucson, AZ.  Scott Soelter with NAI Horizon Tucson represented the landlord in the transaction. [mepr-show rules=”58038″]Asking lease rates: $14.00 – $15.00 SF/YR NNN[/mepr-show]

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Phoenix, Arizona – Lee & Associates Arizona brokered the sale of Connect on Union in Phoenix for 16.5 million. Lee & Associates Principal Todd Braun represented the seller, Union Hills Equity LLC, and the buyer, Western Wealth Capital, was assisted by Ric Holway of Berkadia Real Estate Advisors.

Located at 2311 E. Union Hills Drive, the 146-unit, two-story apartment complex built in 1985 boasts a strong location and proximity to large employment generators such as: Paradise Valley Community College, American Express, Mayo Clinic and Deer Valley Airport. The property also provides a value-add opportunity through unit interior upgrades while providing the purchaser a stable and improving operational track record.

“The Connect on Union apartments offering received significant investor interest due to the chance to acquire a well-located asset with a value add opportunity,” said Braun. “Of the offers received, the seller selected the Western Wealth Capital offer because they have a very strong reputation as being a buying entity that is a proven performer and has arguably been the largest buyer of non-institutional grade multifamily properties in Arizona during the last two years.”    

For more information on the property, visit www.leearizona.com, or contact Braun at (602) 474-9550.