Hunter Woodworks, an investor out of Huntington Beach, CA purchased the Walgreens at 1880 E Irvington in Tucson for $6.1 million ($421 PSF). The 14,490-square-foot property was constructed in 2001 for Walgreens and is located on 1.7 acres at the Southwest corner of Campbell and Irvington.
The property sold with an absolute triple net lease with tenant responsible for roof and structure. Walgreens store #6766, is a high volume store reporting sales in excess $14 million annually.
The single tenant has a 75-year lease on property with 14 years remaining on the initial 25-year term.
It was remodeled to new prototype exterior standards in 2013.
The seller was SDLDH, LLC of Surfside, CA (Richard Landess, manager).
We were unable to determine whether or not there was representation in this transaction.
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[mepr-show rules="58038"]Sale date: $6.1 million. Al cash transaction. APN: 140-16-001B. The property was marketed at a 5.7% cap rate without an asking sale price.[/mepr-show]