Queen Creek, Arizona – CBRE has completed the sale of a newly constructed, single-tenant Tractor Supply Co. location at 24930 South Ellsworth Road in Queen Creek, Arizona. The 21,702 sq. ft. Tractor Supply Co. opened for business on October 8, 2016. Total consideration for the transaction was nearly $5.88 million.
Joseph R. Compagno with CBRE’s Phoenix office represented the seller and buyer; Long Development Corporation (David A. Long) of Scottsdale, Arizona and Mid Pacific Asset Advisors, LLC., respectively.
“The seller wanted access to our global database of high net worth investors. We sourced a buyer that was in a large, all cash 1031 exchange and accomplished that request,” said Compagno. “The Hawaii-based buyer is the third largest land owner in Maui. This was a quick and smooth 40-day escrow.”
Tractor Supply Co. has over 1,500 retail stores in 49 states. This new location is aptly located in the growing community of Queen Creek in the southeastern Phoenix metropolitan area. It is minutes from Phoenix-Mesa Gateway Airport and Arizona State University at the Polytechnic Campus.