Green Valley, AZ (September 25, 2024)—The newly constructed Tractor Supply store at 75 N Albrego Drive in Green Valley sold in a net-leased sale for $6,507,937 ($298 PSF). The seller, Tractor Supply, will lease it back with a 15-year lease, with 5% rental increases every five years throughout the initial term and options.
The property sold with a $6.4mm guaranteed income over the base lease term or a 6.5% cap rate.
The 21,838-square-foot Tractor Supply building, built in 2024 on 4.08 acres, is located northwest of Esperanza Rd and Abrego Dr in Green Valley.
Tractor Supply Company (TSCO) was founded in 1938. It is an American chain that sells products for home improvement, agriculture, lawn and garden maintenance, livestock, equine, and pet care. It caters to recreational farmers and ranchers, pet owners, and landowners. The company has 2,250 stores and is headquartered in Brentwood, Tennessee. It is publicly traded on the Nasdaq under the ticker symbol TSCO and is a Fortune 500 company.
The transaction closed on September 19, 2024.
The California investor was in a 1031 Reverse exchange.
Berkley Capital Advisors of North Carolina handled the transaction. Calvin Short and Aron Cline were the brokers.
For more information, Short and Cline can be reached at 704.379.1980.
To learn more, subscribers should refer to RED Comp #11493.