Green Valley Investment Asset Sells for $1.24 Million

19193 S Alpha Ave, Green Valley, AZ
19193 S Alpha Ave, Green Valley, AZ

California investors traded into a multitenant investment property at 19193 S Alpha Avenue in Green Valley for $1.24 million ($172 PSF). The property sold 100% leased to two tenants, Truly Nolen and Napa Auto Parts, and sold in a triple net investment sale.

The 7,200-square-foot building was constructed in 2007 on .6 acres. A corner lot, next to Coach’s American Grill, with good visibility and attractive landscaping located off I-19 and Duval Mine Road.

The sellers, Kent and Jennifer Crotts of Cortaro, Arizona and the investor were both represented Jon Hammond of KW Legacy in Chandler, Arizona.

The investors were attracted to the quality national tenants, the property itself and the location said Hammond.

Truly Nolen is the largest family-owned pest control company in the United States and the oldest, first licensed company in Arizona. With more than 80 branch offices in Arizona, California, Florida, Nevada, New Mexico, Texas and Utah, the company also has independently owned and operated franchises in more than 60 countries.

NAPA Auto Parts has over 60 distribution centers, 15,000 NAPA AutoCare Centers and more than 6,000 independently-owned and company-owned stores. NAPA carries an extensive inventory of more than 400,000 parts for automotive and industrial applications.

For additional information, Hammond can be reached at 40.283.3740.

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[mepr-show rules=”58038″]Sale price: $1,237,500. APN: 303-33-401C. Property sold with a reported NOI of $91,200 and a 7.37% cap rate.[/mepr-show]

 




Truly Nolen Moves Leadership Center from Phoenix to Tucson

Company moved training department and classroom setting from Phoenix to Tucson as a further investment in the local community

434 S WilliamsTUCSON, AZ – On Wednesday, February 24, the same day Mr. Truly Nolen celebrates his 88th birthday, his family-owned company officially opens its brand-new 12,000+ square-foot Truly Nolen Leadership Center at 434 S. Williams Blvd. in Tucson.

Grand opening festivities include a ribbon cutting program beginning at 1:45 followed by tours of the facility.

Speakers at the Grand Opening will include Tucson Mayor Jonathan Rothschild, a representative of Congresswoman Martha McSally’s office, and company executives. In addition, Truly Nolen Pest Control will make a special announcement and presentation to the Boy Scouts of America.

Previously, the company’s training department and classroom settings for the West were based in Phoenix; however, with corporate headquarters in Tucson for over 60 years, the company wanted to extend its presence in the local community.

Founded in 1938, Tucson, Arizona-based Truly Nolen of America is the largest family-owned pest control company in the United States with over 80 branch offices in Arizona, California, Florida, Nevada, New Mexico, Texas and Utah.

“We were excited when we were able to purchase the land and buildings that will make up our new Leadership Center because it is an investment in our people and their ongoing development,” said Scott Nolen, Truly Nolen CEO/President. “The Leadership Center also cements our corporate presence in Tucson, which is particularly meaningful to me as a multi-generational family-owned company.”

The Truly Nolen Leadership Center includes courtyard and stadium seating, full functioning commercial kitchen, garage-style cookout area, auditorium space for classes, a mock home setup designed to replicate almost any possible pest scenario for training purposes, and a “Bug Room” for both employees and the public to explore. This room, complete with live insects in displays along with a pest identifier section, will be used by team members, professionals in supportive industries, and even youth in classrooms. On Monday, February 22, Mesa Verde Elementary 2nd graders will be the first to experience the unique “Bug Room” environment.

“Our employees, franchisees and vendors will be able to travel from all over North America to this campus to learn and train,” said Greg Weatherly, Truly Nolen Executive Vice President. “Our annual managers’ and franchisees’ meeting was held at the Leadership Center last month, and we look forward to helping nearby hotels and restaurants as well as venues like Old Tucson Studio in the months and years ahead.”

The company also has independently owned and operated franchises in an ever-growing number of territories including Kentucky, Georgia, New Jersey, Canada, Puerto Rico and over 60 countries.

To learn more about Truly Nolen, visit www.trulynolen.com or follow us on Facebook (www.facebook.com/TrulyNolen) and Twitter (www.twitter.com/TrulyNolen).




Truly Nolen Buys ‘The Springs at William Centre’ for Truly Campus

The Springs at William Centre - 432-442 S Williams Blvd., Tucson
The Springs at William Centre  432-442 S Williams Blvd., Tucson

Truly Nolen (Truly) of Tucson has purchased The Springs at William Centre located at 432 – 442 South Williams Blvd in Tucson for $2.55 million ($92 PSF). The property consists of three buildings with an aggregate 27,646-square-feet (built 1987 & 1989) on 3.88 acres. Included with the sale was also three finished pads.

And yes, there really is a Truly Nolen we discovered. His actual birth name is Truly David Nolen. In 1955, following his father’s footsteps from Florida, Truly opened his first pest control company in Tucson, Arizona, license #1-A was issued by the state for all pest control categories. During the next 59 years, the business has expanded and today Truly Nolen has more than 80 corporate branch offices in Arizona, California, Florida, Nevada, New Mexico, Texas and Utah and grosses over $100 million in revenue in the US. The company also has independently owned and operated franchises in an ever-growing number of states and territories including Kentucky, Georgia, New Jersey, Canada, and Puerto Rico, totaling 58 countries.

Truly’s training for technicians and administration has been taking place in Phoenix at a location owned by the company. But, with the purchase of The Springs at William Centre, the Tucson-based company plans to bring its training back from Phoenix.  The property was about 75% vacant at time of sale, so Truly will occupy 434 S Williams Blvd while constructing an additional 10,000-square-foot building next door and letting the leases run out in the remainder of the buildings.

“Eventually, the four building will become a Truly campus, complete with mall area and pavilions for the several hundred of technicians and administrative students who will pass through each year,” Bob Hartley, Vice-President at Truly Nolen told us. “It a five-year projection before being fully completed.”

The Marriot Courtyard at Williams Centre next door and restaurants anxiously await the opening of the Truly campus.

Lloyd Construction is handling all aspects of the new construction.

Mark Irvin, CCIM, and Janine Irvin, CCIM, of Mark Irvin Commercial Real Estate Services in Tucson represented the seller, Gregory and Susan Melanson Trust of La Quinta, CA. Greg Boccarda, CCIM, of Boccardo Realty represented Truly Nolen in the transaction.

The Irvins can be reached at (520) 620-1833 while Boccarda should be contacted at (520) 955-0777 for more information.

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[mepr-show rules=”58038″]Sale date: 11/26/2013. APNs: 128-10-069A & 069B. Tenants that sold with property were Bankers Life Insurance with 2 years remaining on lease, CPS on month-to-month, and Photon Engineering. All were told they could stay until longest lease termination.[/mepr-show]