QuikTrip

Laveen (Phoenix MSA), AZ

Price $3,947,000
Cap Rate 6.58%
TYPE Single-Tenant
STATUS Closed
Tenant QuikTrip Corp.
LEASE TYPE Absolute NNN
SQUARE FEET 5,104
PRICE/SQ FT $773
YEAR BUILT 2009
LEASE EXP. 2025
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

Property Description

QuikTrip has over 7 years remaining on an initial 15 year Absolute NNN lease with rental escalations every 5 years in seven 5 year renewal options. The tenant, QuikTrip Corporation, is the 33rd largest privately held company in North America and operates 750+ QT locations in 11 states. The building is a generation 2.5 prototype QuikTrip concept including a kitchen, barista, etc. and sits on a large 1.86 acre lot.

The subject property is located in Laveen, Arizona, just outside of Phoenix. Laveen has seen a large population growth of 12.51% from 2010-2017 in the 3 mile ring. QuikTrip is situated on a signalized intersection on the hard corner with high drive-by visibility. QT sits across from Cesar Chavez Park, a 336 acre park featuring racquetball and basketball courts, baseball diamonds, a skate park and a fishing lake. QT is also across from Cesar Chavez Library, a 25,000 SF public library. Nearby retailers include Big Lots, Big 5 Sports, Pet Club, 99 Cents Only Store, Walmart Supercenter, Lowe’s Home Improvement, Goodwill, Safeway, The Home Depot, Fry’s Food & Drug, Walgreens, CVS Pharmacy, Petco, LA Fitness, AutoZone, Discount Tire, etc.

Property Highlights

  • 7+ Years Remaining on Initial 15 Year Absolute NNN Lease with Rental Escalations Every 5 Years in Seven 5 Year Options
  • Situated on a Signalized Intersection (Hard Corner) of S 35th Ave & W Baseline Rd with Traffic Counts Exceeding 46,110 CPD!
  • Demographics: Total Population (5-MI): 156,852 | Avg HH Income (1-MI): $77,246 - Population Growth 2010-2017 (3-MI): 12.51%
  • Tenant: QuikTrip Corporation (33rd Largest Privately Held Company in North America) Operates Over 750 QT Locations in 11 States
  • Prototype: Generation 2.5 QuikTrip Concept (Includes Kitchen, Barista, etc.) on Large 1.86-Acre Lot