Tractor Supply Anchored Shopping Center For Sale, Benson AZ
8% Cap Rate | 85% Leased Value Add Opportunity | Benson, Arizona
Marketing description
VOLK Company is pleased to offer the opportunity to acquire a multi- tenant retail investment in Benson, Arizona. The property is occupied by Tractor Supply Company, Sentek USA Inc., House of Iron Crossfit and Vay Beauty Salon & Co. This property is 85% leased, with five spaces remaining vacant.
Tractor Supply Company anchors the center and has been a long-time tenant since 2013. Tractor Supply has just recently exercised their first out of four 5-year options. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging inflation.
Sentek Technologies, established in 1991, is a worldwide agricultural company that specializes in the manufacturing of technologies for soil management. Sentek is currently expanding their space making them the second largest tenancy in this shopping center.
The subject property is located within the dominant retail destination in Benson, with excellent visibility, easy access and proximity to Interstate 10. Adjacent to Benson Hospital, across from Benson Pharmacy and nearby national tenants including Walmart Supercenter, Burger King, Jack in the Box, Safeway, Wendy's and Taco Bell.
Investment highlights
47,000 SF shopping center with 85% occupancy | Unique opportunity for a new investor to add significant value through future lease-up of the vacant spaces
Tenants include: Tractor Supply Company, Sentek USA Inc., House of Iron Crossfit, and Vay Beauty Salon & Co
Low price per square foot: Average rents $6.05 PSF
Tractor Supply Company has recently executed an option to extend
Sentek also signed a 10-year lease through March 2028
Strategically located near Interstate 10, Safeway, Walmart and Benson Hospital
Internet and recession resistant businesses featuring tenants in home improvement, agricultural technology, fitness and beauty
Growing area
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