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8/10/18
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Two O’Reilly Auto Parts properties in Arizona totaling 12.7k sf have sold for a combined price of $3.4 mil ($268/sf). The properties are located at 8964 W. Peoria Ave in Peoria and 1401 W. Apache Trail in Apache Junction.
1401 Apache Trail, Apache Junction |
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The single-tenant properties are 100% leased to O’Reilly Auto Parts, one of the largest suppliers of auto parts. Located at the northeast corner of 91st Ave and Peoria Ave, 8964 W. Peoria Avenue sold for $1.9 mil. Located at the southeast corner of Ironwood Drive and Apache Trail, 1401 W. Apache Trail sold for $1.5 mil.
Cushman & Wakefield’s Chris Hollenbeck represented the seller, JD 2 LLC. According to Hollenbeck, they were able to time both of the transactions to close within the same week of each other so that the seller is able to more easily exchange into one larger property.
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