August 18, 2023 – Zach Smith of Horvath & Tremblay has successfully completed the sale of AutoZone in Maricopa, Arizona. Horvath & Tremblay represented the buyer in the transaction at a sale price of $1,517,241.
AutoZone is located at 17520 N Porter Road in Maricopa, Arizona. The Property consists of a 7,372 square foot building situated on a 1.21-acre parcel. AutoZone has 19+ years remaining on their Absolute NNN Ground Lease with four (4), 5-year renewal options. The lease calls for an 8.0% rent increase in year eleven and 8.0% increases at the start of each of the renewal options. The property is well located adjacent to the signalized intersection of N Porter Road and W Maricopa-Casa Grande Highway, the area’s primary commercial and commuter corridor. AutoZone is situated within The Wells, a 50-Acre Mixed-Use development anchored by Walmart, Big 5, and Walgreens with other national retailers coming soon (Tractor Supply Co, Taco Bell, Burger King, Chili’s, and others). The area is also home to several large multi-family developments in various stages of planning and construction. The Maricopa trade area is part of the Phoenix MSA and is projected to increase by more than 25% by 2027. The growing area is home to numerous national retailers and restaurants, all of which drive tremendous traffic to the area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.