Cushman & Wakefield | PICOR recently sold a 2,112-square-foot retail building in central west Tucson where Rob Tomlinson and Greg Furrier, Principals and Retail Specialists, represented the seller in the transaction.
A 2,112-square-foot retail building at 2701 N. Oracle Road was purchased by Outshine the Sun, LLC DBA Ames Automotive from Circle K Stores, Inc. for $230,000, $108.90 per foot.
Since 2020, Circle K Stores has been selling off smaller properties around Arizona, that formerly provided only 1-2 gas pumps. The Circle K disposition is meant to minimize market cannibalization within their portfolio. These locations provide redevelopment and repositioning opportunities for small business owners and investors. For example, some locations have been converted into small art class studios, coffee shops, boutiques, and offices. The location at 2701 N Oracle Road was purchased by a family-owned and operated vehicle service and repair shop.
There are currently seven Circle K assets up for sale in Tucson, Yuma, Casa Grande, and other areas of Southern Arizona. “The former Circle K locations offer start-up businesses, entrepreneurs, and investors the opportunity to purchase strategically located buildings for a small fraction of replacement cost,” says Rob Tomlinson.