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Trophy STNL Retail: Tesla Motors, Inc. Service Center
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Investment Highlights
- Price: $11,220,000 (5.25% Cap)
- Mission critical service center
- Cutting edge tenancy
- 2.75% annual increases
- Significant tenant investment
- Publicly traded (NASDAQ: TSLA) $50+ billion market cap
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Location Highlights
- Adjacent to AZ State University
- 144,571 population (3-mi)
- Strong visibility and access
- Large development parcel
- High density, infill location
- Directly across from 300+ acre office and industrial park
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Opportunity: Pegasus Investments, in partnership with Cushman &
Wakefield, is pleased to offer the exceptional opportunity to acquire a newly
renovated, single tenant Tesla Motors showroom and service center located in
Tempe (Phoenix), Arizona. The trophy
offering carries a very landlord favorable net lease (inquire with broker) with
extremely rare 2.75% annual rent increases as well as a provision allowing the
landlord to recapture a management fee of up to 3% of the base rental revenue. Tesla recently opened this modern facility
pursuant to a new 7-year lease with (2) 5-year options, and prior to opening invested
several million dollars improving the property to its current condition.
Location: This site was hand selected by Tesla Motors due to its
combination of proximity to current Tesla owners, the demographics of potential
owners and access to the major Phoenix thoroughfares. With over 4.5 million
people living within the metro area, Phoenix is the 12th largest
metropolitan area in the United States and has experienced rapid population
growth of 1.3 million since 2000. Strategically located along University Avenue
between Arizona State University and Loop 101, the property enjoys very high
traffic counts exceeding 30,000 vehicles per day. Additionally, the property sits across the
street from a 300+ acre office and industrial park which features “The Circuit”
- a newly renovated, 185k SF Ultra-Modern Class-A Creative Office Campus.
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David B. Chasin Pegasus Investments
Managing Director (310) 691-1350 x101 BRE Lic 01513027 |
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Daylin Ackerman Pegasus Investments
Associate (310) 691-1350 x114 BRE Lic 02011508 |
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Will Strong Cushman & Wakefield
Executive Managing Director
(602) 224-4467 BRE Lic SA546546000 |
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Andy Markham Cushman & Wakefield
Executive Managing Director
(602) 224-4408 BRE Lic SA11771000 |
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Pegasus Investments Real Estate Advisory Inc. | BRE License Number 01961545
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