Veterinary Specialty Center of Tucson Sells for $7 Million

Arizona Veterinary Center of Tucson
Veterinary Specialty Center of Tucson

Veterinary Specialty Center of Tucson (VSCT) at 4909 N La Canada Drive in Tucson has sold for $7 million ($219 PSF) in a sale leaseback agreement to STORE Master Funding an affiliate of S|T|O|R|E Capital of Scottsdale.

VSCT opened to serve southern Arizona’s pets, pet owners and primary care veterinarians on July 19, 2004 with approximately 10,000-square-feet offering multi-specialty medical, surgical and 24/7 emergency services. In November of 2010 and expansion was added bringing the total hospital square footage to just over 32,000-square-feet making it the largest multi-specialty veterinary hospital under one roof in the state of Arizona.

VSCT has 27 veterinarians and 55 support staff and is open 24 hours a day, 7 days a week, 365 day a year – we never shut down. VSCT’s doctors are here for you and your pet 24 hours a day, 365 days a year because we reside locally, are not outside consultants, and do not work in multiple hospitals or locations.

The hospital includes a 56 kW solar (photovoltaic) energy system which produces up to 40% of our current energy demands making VSCT the first multi-specialty emergency veterinary center in the state to utilize a renewable energy source in an effort to reduce our environmental impact.

VSCT currently provides more complimentary continuing education than any other veterinary center in the state. A large auditorium seats approximately 125 people for educational seminars and events. The auditorium is also rented to local pet and business associations with all proceeds donated to our non-profit organization, Cause Four Paws.
32,000 square foot, two-level hospital has:

  • * 16 patient examination/consultation rooms all equipped with computers for retrieval of patient information and presentation of digital diagnostic images (x-rays, ultrasounds, CT and MRI scans)
  •  * 4 surgical suites with viewing windows
  •  * A separate dental/oral surgical suite
  •  * Two digital radiology suites, two ultrasound suites and dedicated rooms for in-house MRI (the first and only one for pets outside of Phoenix) and in-house helical CT scanner.
  •  * A large central ICU with in-house laboratory, oxygen cages, and a respiratory ventilator for pets.
  •  * Dedicated patient wards for cats only, small dogs, and large runs for large dogs, along with an isolation ward to quarantine pets with contagious illnesses.
  •  * I-131 (radioactive iodine) suite for treatment of hyperthyroidism in cats complete with observation cameras.

S|T|O|R|E Capital was co-founded in 2011 by six executives who worked together in various capacities at other organizations and is already one of the largest and fastest-growing net-lease REITs in the United States. Morton Fleischer, Christopher Volk, Catherine Long, Mary Fedewa, Michael Bennett and Michael Zieg pooled their collective investment, accounting, legal and real estate experience to form Scottsdale, Ariz.-based S|T|O|R|E Capital with a commitment to deliver value-creating real estate lease solutions and build long-lasting relationships with each customer.

Having supplied more than $11 billion in real estate mortgage and lease solutions to customers across the U.S., the senior leadership team has been investing in single tenant real estate for over three decades. Fleischer was the first to introduce capital, by way of sale-leaseback transactions, to the rapidly growing chain restaurant industry in the 1980s. Fleischer, Volk and Long completed the largest U.S. real estate limited partnership rollup taken public on the New York Stock Exchange in 1994. Subsequently, they formed and took public Spirit Finance Corporation, where they created the country’s first investment-grade real estate debt program designed to finance net lease investments and guided the company in completing the largest reported U.S. sale-leaseback transaction of its time.

The team continues to partner with real estate intensive business owners to free up capital and create wealth through innovative lease financing solutions. To learn more S|T|O|R|E Capital can be reached at (480) 256-1100.