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.