Pegasus Investments Real Estate Advisory and ParaSell, Inc., as the exclusive advisors to the Seller, are delighted to present an outstanding opportunity to acquire the fee simple interest in a fully occupied two-tenant asset situated in Chandler, Arizona. The Property comprises triple net (“NNN”) leases with O’Reilly Auto Parts and Jiffy Lube and is strategically positioned within one of Chandler’s main retail corridors. After 15 years of occupancy at the Property, O’Reilly naturally exercised their first option with a 10% rent increase extending its term through 2027. The 8,685 SF structure, built in 2005 on a 1.57-acre pad, offers an ideal location for automotive services and retail-related needs. As an outparcel to a Lowe’s anchored center, the Property benefits from a strong lineup of national tenants, including Ross, Big 5, Dollar Tree, Petco, and Staples, contributing to its attraction within the surrounding trade area. Both tenants are responsible for roof maintenance, with O’Reilly holding a corporate NNN lease (NASDAQ: ORLY) and Arizona’s top Jiffy Lube operator (50+ units) under a NNN lease with incremental annual rent increases. This unique tenant roof responsibility presents investors with a comparatively passive investment opportunity in the multi-tenant asset space.
The Property’s allure is further enhanced by its strategic location opposite Hamilton High School, the largest high school in Arizona, boasting over 4,000 students. Chandler represents a thriving demographic area with an average annual household income of $135,000 within a three-mile radius, housing a collective population of 90,000, a 33% increase since 2010. This growth mirrors Chandler’s broader trend of 20% population growth, and further aligns with the Phoenix metroplex’s ascent which is recognized as one of the fastest-growing places in the United States by US News Report for the 2023-2024 period. The city’s surge is largely attributable to the influential presence of tech giant Intel, which is adding significant shaping to Chandler’s economic landscape.