Velocity Retail Group Starbucks Sahuarita Arizona

Velocity Retail Group Investment Division completed the $2,200,000 NNN investment sale of a 2,400 square foot Starbucks store at The Crossing at Sahuarita shopping center south of Tucson, Arizona. The building is located at 18729 S Nogales Highway in Sahuarita, Arizona and recently opened for business in April of 2019.

Velocity Retail Group’s Eli Castronova, Darren Pitts and Dave Cheatham represented the Seller in the transaction (FAE Holdings 461354R, LLC), a Utah Limited Liability company of Wadsworth Development Group and Accelerated Development Services. The Buyers Yasunari Yamada and Michiko Yamada were represented by Kevin Chin, Managing Director for SVN Pacific Commercial Advisors based in San Francisco, California.

“We were able to identify a high quality 1031 buyer for this premier retail investment. The asset has excellent visibility along Nogales Highway in the strongest retail intersection in the Sahuarita trade area. Single-tenant net leased Starbucks assets continue to be in strong demand and this attractive investment is no exception,” said Castronova.

The Crossing at Sahuarita was awarded NAIOP’s Retail Project of the year for 2019 and is a joint venture between Wadsworth Development Group and Accelerated Development Services. The 104,444 square foot center is the first grocery-anchored center to be built in Sahuarita in the last decade. Major tenants in the project include Sprouts Farmers Market, TJ Maxx, PetSmart, and Beall’s Outlet. Starbucks and Chipotle occupy pad buildings along Nogales Highway. The adjacent free-standing Chipotle is also available for sale.