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  • Sold
Firestone - Buckeye, Arizona - #1
Firestone - Buckeye, Arizona - #2
Firestone - Buckeye, Arizona - #3

Sales Price: $3,125,000
Cap Rate: 5.00%
Guarantor: Investment Grade Credit (A)
Term Remaining: 14 years
Rate Increases: 8.5% x 5 years

With an existing vacancy and another unit paying a below market rent due to rent control, ownership was ready to trade out of their San Francisco apartment building in favor of a passive investment that could provide a consistent and reliable income stream. NLX sourced a property guaranteed by an investment grade credit tenant in an attractive location. Our clients were so excited about the deal, their son also contributed 10% to become part-owner of the family's new Arizona investment.

"Thank you, thank you, thank you! We’re thrilled that we made it to this side of the transaction!" - Ben

  • 11/18/2020
  • Outparcel to a Fry's grocery store, this Firestone was formerly a Fletcher's Tire & Auto before Fletcher's was acquired by Firestone in 2017, rebranding their existing thirty one (31) stores. Inheriting the original Fletcher's lease (now assigned to Firestone), the new owners will benefit from the Landlord-friendly terms not customary with typical Firestone leases, including a rare 8.5% increase every five (5) years, and a mandatory nine (9) month notice period from the Tenant. This area is expected to see an 11.9% growth in population density over the next five (5) years.