24
Shaun Riley
Senior Managing Director
(949) 221-1807
R.E. License No 01165160
Sprint1840 W. Valencia road, tucSon, aZ 85746
The information contained herein has been carefully compiled from sources we consider reliable, and while not guaranteed as to completeness or accuracy, we believe it to be correct as of this date. The proforma revenues and expenses set forth in this brochure do not constitute a representation, warranty, or guaranty of any of the numbers set forth herein or of any economic value attributable to the property or income that may be derived therefrom. Independent estimates of proforma revenues and expenses should be developed before any decision is made on whether to invest in the property.
excluSiVe Broker:
Ellen Golden
Designated Broker Goldsmith Real Estate
6700 N. Oracle Road Suite 412 Tucson, AZ 85704
(520) 219-3100
Broker of Record AZ Broker No. BR522828000
inVeStment adViSor:
pricinG analYSiS 14 area oVerVieW 20propertY oVerVieW 4
Statement of confidentialitY & diSclaimerGoldsmith Real Estate & Faris Lee Investments (“FLI”) have been engaged respectively as the exclusive broker and exclusive investment advisor to the Seller in connection with Seller’s solicitation of offers for the purchase of the property known as Sprint, City of Tucson, County of Pima, State of Arizona. Prospective purchasers are advised that as part of the solicitation process, Seller will be evaluating a number of factors including the current financial qualifications of the prospective purchaser. Seller expressly reserves the right in its sole and absolute discretion to evaluate the terms and conditions of any offer and to reject any offer without providing a reason therefore. Further, Seller reserves the right to terminate the solicitation process at any time prior to final execution of the Purchase Agreement.
The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property, and it is not to be used for any other purpose or made available to any other person without the express written consent of Seller or FLI. The material is based in part upon information supplied by the Seller and in part
upon financial information obtained by FLI from sources it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather only outline some of the provisions contained therein and qualified in their entirety by the actual document to which they relate.
No representation or warranty, expressed or implied, is made by the Seller, FLI, or any of their respective affiliates as to the accuracy or completeness of the information contained herein. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the Property site or used in the construction or maintenance of the building at the Property site.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall
be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or FLI or any of their affiliates or any of their respective officers, directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.
Prospective purchasers are not to construe the contents of this Offering Memorandum or any prior or subsequent communication from FLI or Seller or their affiliates or any of their respective officers, directors, shareholders, owners, employees, or agents as legal, tax, or other advice. Prior to submitting an offer, prospective purchasers should consult with their own legal counsel and personal and tax advisors to determine the consequences of an investment in the Property and arrive at an independent evaluation of such investment.
taBle of contentS
property overview
pricinG
price: $1,516,000
price / Sf: $505
noi: $90,960
cap rate: 6.00 %
cap rate at outparcel pad market rent: 7.12 %
cap rate at drive-thru market rent: 9.21 %
inVeStment SummarY
Goldsmith Real Estate (“Exclusive Broker”) and Faris Lee Investments (“Investment Advisor”) are pleased to offer the fee simple interest (land & building) in a freestanding, single tenant, NNN leased, Sprint, located in Tucson, AZ. Sprint has recently renewed the lease through June 2022. The lessee is Sprint Spectrum LP., a wholly owned subsidiary of Sprint Corporation. Sprint is a publicly traded company (NYSE: S) operating more than 4,500 stores with an approximate shareholder equity of $18.80 Billion.
location SummarY
The Subject Property is ideally located along the intersection of W. Valencia Road and S. Oak Tree Road, which has a combine total of more than 56,000 vehicles per day. W. Valencia Road serves as a major east-west corridor with many national tenants such as: Wal-Mart Supercenter (open 24 hours), Lowe’s, CVS Pharmacy, Walgreens, Safeway, Bank of America, and Wells Fargo creating strong tenant synergy and crossover foot traffic. Additionally, the site benefits from the close proximity to Interstate 19 (62,280 vehicles per day), which is an important part of the CANAMEX transportation corridor that stretches from Northern Mexico through the United States to the Canadian Province of Alberta. Furthermore, the site benefits from more than 150,451 permanent residents with an average annual household income of more than $44,660 within 5-miles of the subject property. Additionally, the trade area is supported by more than 61,743 daytime employees within a 5-mile radius.
propertY oVerVieW · 5
inVeStment SummarY
traffic countS (COSTAR) Vehicles Per Day
W. Valencia Road: 50,000
S. Oak Tree Drive: 6,000
Interstate 19: 64,280
parcel numBerS
PARCEL ACRES SQUARE FEET137-33-9100 0.66 28,600
parcel map
propertY SpecificationSRentable Area: 3,000 SFSF Land Area: 28,600 SF / 0.66 AcresYear Built: 2001Zoning: C-2: General Commercial
Ownership: Fee Simple (Land & Building)Tenant: Sprint Spectrum LP., a wholly owned
subsidiary of Sprint CorporationCredit Rating: S&P: B
Address: 1840 W. Valencia Road, Tucson, AZ 85746Access: There are two (4) access points, one (2) along W. Valencia Road and one (2) along S. Oak Tree Drive.Improvements: There is approximately 3,000 SF of existing building area.Parking: Per a ALTA/ACSM land title survey on file, there are 35 dedicated parking stalls on the owned parcel.
The parking ratio is approximately 11.66 parking stalls per 1,000 SF of leasable area. Per the Reciprocal Easement Agreement with the Lowe’s Parcel, the parking and ingress/egress for both the subject property and the Lowe’s parcel is shared and in-common with each other.
propertY oVerVieW · 6
propertY SpecificationS
leSSee iS corporatelY-Backed BY StronG puBliclY traded national tenant - Sprint corporation (nYSe: S)
Sprint is a leading telecommunications provider in the United States, Puerto Rico, and the U.S. Virgin islands. The company provides various wireless and wireline communication products and services to consumers, businesses, and many other organizations. The company offers services under the Sprint, Boost Mobile, Virgin Mobile, and Assurance Wireless brands. The company operates through its 4,500+ branded retail locations and is headquartered in Overland Park, Kansas.
Company Type: Public (NYSE: S)Fiscal Year-End: March2017 Employees: 28,000
2017 Revenue: $33.35 Billion2017 Assets: $85.12 Billion2017 Equity: $18.80 Billion
recent leaSe reneWal throuGh June 2022 / Sprint haS inVeSted capital into the BuildinG
Q Demonstrates commitment to the location as Sprint could have relocated after taking over the lease for Radio Shack
Q Provides investor with a long-term secure income stream from a national, publicly-traded retailer
Q The long term lease enables the most attractive financing to be obtained, thereby, enhancing the cash on cash return
triple net (nnn) leaSe / paSSiVe inVeStment opportunitY With optionS to reneW
Q Tenant is responsible for taxes, insurance, and CAM, thus, providing an investor a more secure and stable income stream
Q All recurring expenses are paid by Sprint Q Ideal for passive investor / management-free investment Q Excellent 1031 exchange opportunity
excluSiVe retail pad to loWe’S anchor Q The subject property is the only out-parcel pad within Lowe’s Plaza Q The abundant parking shared in-common with the Lowe’s parcel and the
lack of restrictive competing uses within the center gives the property a strong intrinsic value and creates a desirable location for an almost unlimited amount of tenants
Q Lowe’s: #40 in FORTUNE 500; 2017 revenue of $65.01 Billion and 2017 net worth of $70.48 Billion
Q Provides excellent customer draw and cross-over shopping opportunities
BeloW market rent / lonG-term upSide Value / 7.12% cap rate at market rent (See leaSe comparaBleS on paGe 14)
Q Recent lease transactions in Tucson show a comparable average rent for pad buildings and/or hard corner multi-tenant retail centers to be $2.96 compared to $2.53 for the subject property (15% below market rent)
Q Recently leased drive-thru properties in Tucson show an average rent of $3.88 compared to $2.53 for the subject property (35% below market rent)
Q Provides an investor potential upside when the rental rate at the subject property is taken to a market rent
propertY oVerVieW · 7
inVeStment hiGhliGhtS
adaptiVe re-uSe BuildinG / potential future driVe-thru reStaurant
Q CC&R’s for Lowe’s Plaza enable the investor to re-tenant the building to various uses including drive-thru restaurants, thus, potentially maximizing rent and the highest and best use for the property
Q The ample parking shared in-common with the Lowe’s parcel and the divisibility of the building will give the investor a competitive leasing advantage over other properties in the area and a very desirable location to offer future tenants
adJacent to Wal-mart Supercenter, cVS, and WalGreenS Q In addition to being anchored by Lowe’s, other national tenants in the
immediate trade area, which help create excellent tenant synergy and cross-over shopping opportunities include: Wal-Mart Supercenter (open 24 hours), CVS Pharmacy, Walgreens, Chevron, and Big Lots
Q This strong retail corridor anchored by multi-national retailers further demonstrates the strength of the location
excellent ViSiBilitY / hiGh traffic countS of 50,000 VehicleS per daY on W. Valencia road
Q Sprint benefits from having excellent visibility to all 50,000 vehicles per day travelling on W. Valencia Road, which is a arterial east-west corridor.
Q The subject property is just over 1 mile away from Interstate 19, which sees over 62,250 vehicles per day
propertY oVerVieW · 8
inVeStment hiGhliGhtS (cont.)
propertY oVerVieW · 9
aerial VieW
propertY oVerVieW · 10
location map
propertY oVerVieW · 11
aerial VieW
propertY oVerVieW · 12
photoS
W. Valencia Road
Monument Sign
SITE PLAn nOT TO SCALE
propertY oVerVieW · 13
Site plan monument SiGn
pricing analysis
pricinG analYSiS · 15
leaSe comparaBleS
1 El Pollo Feliz March-16 2,414 $2.86 $34.283700 S. 6th AvenueTucson, AZ 85713
2 Kneaders Bakery October-16 4,055 $3.04 $36.473550 N. Craycroft Road
Tucson, AZ 85718
3 Blaze Pizza March-17 3,000 $3.41 $40.975601 E. Broadway Boulevard
Tucson, AZ 85711
4 Raising Canes November-15 3,616 $6.20 $74.346352 E. Broadway Boulevard
Tucson, AZ 85710
3,271 SF $3.88 $46.52 PSF/Mo3,000 SF $2.53 $30.36 PSF/MoSubject Property:
Averages:
Drive-Thru Lease Comparables
Square Feet Base Rent PSF/Month
Base Rent PSF/YearDate Of Signed Lease CommentsProperty Location
Re-developed in March of 2016, this single tenant property has a 6.61% cap rate. Additionally, the properties tenant has 9 years remaining on the lease with 3(5-year) options to extend. Increases are 2.5% every year.
This property features a 15 year lease beginning in October 2016. Lease expiration date is expected to be in September of 2031. The building was constructed in August 2016.
Recently built Blaze Pizza featuring a 15 year absolute NNN lease. The lease has 10% increases every 5 years.
Property features an absoulte NNN lease with rent 10% increases every 5 years and 3 (5-year) options to extend. The current tenant has 17 years remaining on the initial lease term.
1 Target Shops October-17 1,953 $3.00 $36.006572 E. Grant RoadTucson, AZ 85715 October-17 3,500 $2.75 $33.00
October-17 2,000 $2.92 $35.00
2 Tucson Fit 3 October-16 3,420 $2.92 $35.006351 E. Broadway Boulevard
Tucson, AZ 85710
3 Native Grill Wings January-16 4,991 $3.21 $38.4710255 E. Old Vail Road
Tucson, AZ 85747
3,173 SF $2.96 $35.49 PSF/Mo
3,000 SF $2.53 $30.36 PSF/MoSubject Property:
Average of Recently Executed Lease Comps:
Outparcel Pad Lease Comparables
Square Feet Base Rent PSF/Month
Base Rent PSF/YearDate Of Signed Lease CommentsProperty Location
Tenants respectively are Sprint, Southern Arizona Urgent Care, and Nationwide Vision Center. Each tenant has 2 (5-year) option to extend with 10% increases in the beginning of each option. Sprint has 5 years remaining on its lease term (expiring in 2022) and both Southern Arizona Urgent Care and Nationwide have 10 years remaining on their lease terms (both expiring in 2027).
The tenant has 9 years remaining on a 10 year lease expiring in 2026.
The tenant has 14 years remaining on the initial lease term. The lease has rental increases of 10% every 5 years and in the 2 (5-year) option periods.
Sprint corporation
Sprint Corporation, through its subsidiaries, provides various wireless and wireline communications products and services in the United States, Puerto Rico, and the U.S. Virgin Islands. The company operates in two segments, Wireless and Wireline. The Wireless segment offers wireless data communication services, including mobile productivity applications. It also provides wireless voice communications services that include local and long-distance wireless voice services and voice and data services internationally through roaming arrangements. The Wireline segment provides wireline voice and data communications, including domestic and international data communications. Sprint Corporation offers its services under the Sprint, Boost Mobile, Virgin Mobile, and Assurance Wireless brands. The company is currently being looked at by Warren Buffet, who is considering about a $10-$20 billion dollar investment into the company. Sprint was founded in 1899 and is headquartered in Overland Park, Kansas. Sprint Corporation is a subsidiary of SoftBank Group Corp.
Company Type: Public: (NYSE: S)2017 Employees: 28,0002017 Equity: $18.80 BillionFiscal Year End: March
2017 Revenue: $33.35 Billion2017 Assets: $85.12 BillionS&P Ranking: BWebsite: www.sprint.com
Annual$/SF
3,000 $7,581 $2.53 $90,960 $30.32 7/1/2022 10% $8,338 $2.78 $100,050 $33.35 NNN 9/22/2000 6/30/2022
Notes: Lease assumed by Sprint: 2/19/2015 CAP on CAM Expense growth of 7% per year
$8,338/month(10% increase)
Size (SF)Tenant
Sprint Spectrum LP. 1 (5-Year)
Rental Increases
(2016 Lease Renewal)
Option Rent
MonthlyRent$/SF
Current Monthly
Rent
CAM Recovery
Type
LeaseStart
LeaseExpires
CurrentAnnual
Rent
AnnualRent$/SF
IncreaseDate Increase Monthly
RentMonthly
$/SFAnnual
RentLease Options
The above information has been obtained from sources we believe to be reliable, however we cannot accept responsibility for its correctness.
SoftBank Group corporation
SoftBank Group Corp., together with its subsidiaries, operates in the information industry in Japan and internationally. The company operates through five segments: Domestic Telecommunications, Sprint, Yahoo Japan, Distribution, and ARM. The Sprint segment engages in the provision of mobile communications services; selling and leasing mobile devices and accessories; and provision of fixed-line telecommunications services. SoftBank Group Corp. was formerly known as SoftBank Corp. and changed its name to SoftBank Group Corp. in July 2015. The company was founded in 1981 and is headquartered in Tokyo, Japan
Company Type: Public (SFTBY)2017 Employees: 68,400
2017 net Income: $13.14 BillionWebsite: www.softbank.jp
pricinG analYSiS · 16
rent roll
tenant SYnopSiS
Financial Information Lease Type: NNNPrice: $1,516,000Price/SF: $505
Property Specifications Potential New Loan:Rentable Area: 3,000 SFLand Area: 0.66 AcresYear Built: 2001Address: 1840 W. Valencia Road
Tucson, AZ 85746APN: 137-33-910Ownership: Fee Simple (Land & Building)Tenant:
Estimated Operating Information
In-Place
Outparcel Pad Market Rent
($3.00/SF)
Drive-thru Market Rent
($3.88/SF)Gross Potential Rent $90,960 $108,000 $139,680
Plus Recapture NNN NNN NNNEffective Gross Income $90,960 $108,000 $139,680
Less Expenses (NNN) (NNN) (NNN)Net Operating Income $90,960 $108,000 $139,680
Cap Rate: 6.00% 7.12% 9.21%
Please consult Exclusive Investment Advisor for an updated loan quote.
Sprint Spectrum LP., a wholly-owned subsidiary of Sprint Corporation
Tenant is responsible for taxes, insurance, CAM, HVAC repair and replacement, and all recurring expenses.Landlord is responsible for roof and structure
The above information has been obtained from sources we believe to be reliable, however we cannot accept responsibility for its correctness.
pricinG analYSiS · 17
tranSaction SummarY
pricinG analYSiS · 18
leaSe aBStract
Tenant and Landlord Information SectionLease Type (Ground/Lease): LeaseTenant (signing entity): Sprint Spectrum LP. (a wholly owned subsidiary of Sprint Corporation) Lease Modification LetterDoing Business As (Business Name): Sprint Lease Assumption, P.1Address/Suite #: 1804 W. Valencia, Tucson, AZ 85746 1st Extension Agreement,
WitnessethLease Dates, Term and PremisesLease Execution Date: Radio Shack: 9/22/2000
Assumed by Sprint: 2/19/2015Lease, P.1
Lease Assumption, P.1Lease Commencement Date: Sprint: 2/24/2015 Lease Assumption, P.1Rent Commencement Date: Sprint: 2/24/2015
Exercised 5-Year Option 7/1/2017Lease Assumption, P.1Lease Extension(Sprint)
Term: 5-Years Lease Extension(Sprint)Expiration Date: 6/30/2022 Lease Extension(Sprint)Premises RSF: 3,000 SF Lease, Sec. DPro Rata Share: None N/A
Rent and Additional RentCurrent Rent and Escalations: $7,580.50/Month - Flat Lease Extension (Sprint)Rent Abatements: None N/AOptions and Terms: 1 (5-Year Option)
$8,337.50/Month - FlatLease Extension Agreement
(Radio Shack)Tenant Improvement Allowance: None N/APercentage Rent: Not applicable to Sprint or its affiliates with respect to sales of wireless services. Agreement, sec 2Gross Sales (reporting): Within 60 days after the close of each Fiscal Year during the Lease Term, Tenant shall submit to Landlord a
statement of all Gross Sales made at or from the Demised Premises during the previous Fiscal Year.Lease, sec 7
Expense Recovery/Non-Recovery and ResponsibilitiesProperty Taxes: Beginning on Commencement Date, Tenant shall pay monthly to Landlord, as additional rent, Tenant's share of Real
Estate Taxes.
Initial Estimates: $2.20/PSF
Lease, sec 19(B)
Lease, sec 1(H)Property Tax Cap: None N/AInsurance: Tenant shall pay Tenant's share of the premiums for Landlord's fire, extended coverage and vandalism insurance,
comprehensive general liability insurance and rental insurance.
Landlord shall carry fire and extended coverage and vandalism insurance on the Shopping Center of which the Demised Premises are a part.
Tenant shall maintain comprehensive general liability insurance, fire and extended coverage insurance.
Initial Estimates: $0.20/PSF
Premiums for Landlord's public liability and property damage insurance on Common Areas are part of CAM.
Lease, sec 20(B)
Lease, sec 20(A)
Lease,sec 20 (F-G)
Lease, sec 1(I)
Lease, sec 25(B)
pricinG analYSiS · 19
leaSe aBStract (cont.)
Utilities: Tenant shall pay the actual charges for electricity, gas, water, sewer and telephone services used in the Demised Premises.
The costs of supplies and utilities used in the performance of common area maintenance shall be included in the common area Expenses and shall be at the same rates charged by the local utility companies for comparable services.
Lease, sec 13
Lease, sec 25(B)
CAM: Tenant agrees to pay to Landlord, on a straight pass-through basis, Tenant's share of Common Area Expenses, which share shall be determined by multiplying the total amount of the Common Area Expenses by Tenant's share.
Initial Estimates: $0.71/PSF
Lease, sec 25(C)
Lease, sec 1(J)Management Fees/ Admin Fees: Tenant shall pay an administrative fee equal to 10% of Tenant's Proportionate Share of the Common Area Expenses
calculated after the deduction of any expenses relating to taxes, insurance and utilities.Lease, sec 25(B)
Expense Caps: Expenses shall not increase more than 7% per year (excluding trash removal) commencing in Year 2 Lease, sec 25(E)MiscellaneousCo-Tenancy: None N/ATermination Right: None N/AFirst Right of Refusal/Right of First Offer: None N/A
area overview
pricinG analYSiS · 21
the citY of tucSon
top emploYerS
Within a 30 minute driVe
top SchoolS
retail & reStaurantS
faSt factS
a diverse and growing cityTucson is the second-largest city in Arizona and is situated 118 miles southeast of Phoenix, and 60 miles north of the U.S./Mexico BorderTucson was referred to as a “mini-mecca for the arts” by The Wall Street, Tucson is one of a select few cities of its size that has its own ballet company, symphony, opera company, and professional theater. It is also home to more than 215 art groups and 35 art galleries. Tucson is a perfect place for biking enthusiasts, ranked by Bicycling magazine as one of the top cycling cities in the U.S. for several years. Tucson has over 800 miles of bike paths and hosts events such as El Tour de Tucson. Population 531,641 residentsAHHI $52,948
tucson is home to outstanding shopping, entertainment, and dining
Tucson Mall One of Tucson’s most popular shopping malls, Tucson Mall has over 1,388,000 SF of retail with more than 200 shops. The mall has recently gone through a new renovation in 2017.Park Place Mall With 1,424,000 SF of retail and over 128 shops, Park Place Mall is a premier location for shopping in the Tucson area. Fox Theater Located in Tucson’s downtown area, the Fox Theater hosts a wide spectrum of events and concerts featuring a variety of performing talent.El Charro Café Established in 1922, El Charro Cafe is the nation’s oldest Mexican restaurant in continuous operation. The restaurant offers Sonoran-style and innovative Tucson-style dishes to its patron. In 2008, the restaurant was awarded “One of America’s 21 Most Legendary Restaurants” by Gourmet Magazine.
a number of organizations employ in tucson
Raytheon Missile Systems Headquartered in the city of Tucson, Raytheon employs over 11,370 workers from the Tucson metropolitan area. It is estimated that Raytheon also provides a 2.1 billion dollar economic benefit to the state of Arizona.
Davis-Monthan Airforce Base
Davis-Monthan Airforce Base employs over 10,860 employees and military personnel within the Tucson area.
University of Arizona The University of Arizona encompasses 392 acres within Tucson. The university employs over 12,000 staff and personnel for educating and maintaining the property.
Pima County Pima County employs over 7,100 workers in Tucson, which is also holds the seat for the county.
tucson is home to several highly-ranked colleges and universities
University of Arizona Founded in 1885, the University of Arizona has a total undergraduate enrollment of over 33,730 students. The campus encompasses 392 acres and is one of Arizona’s largest public institutions. The university is ranked #60 in the 2017 Top Public Schools by US News & World Report Pima Community College Founded in 1966, Pima Community College is a tow-year institution serving the Tucson metropolitan area. The college consists of six campuses, four education centers, and even offers online education courses. The college enrolls more than 30,000 students a year and offers degrees and certificates in 22 different fields.
Some of Southern arizona’s best attractions can be found just a short distance from tucson
Saguaro national Park Saguaro National Park encompasses two districts, which are located on the east and west side of Tucson. The park has a total land area of 91,327 acres, and contains many trails and an extensive ecosystem.Reid Park Zoo Founded in 1967, Reid Park Zoo is a 24 acre city-owned and operated non-profit zoo. The zoo features more than 500 animals and attracts more than 500,000 visitors annually.San Xavier Del Bac Mission San Xavier Del Bac is a historic Spanish Catholic mission just south of Tucson. The site was built between 1783-1797 and it is the oldest European structure in Arizona. The Mission attaches over 200,000 guests annually.
pricinG analYSiS · 22
tucSon faSt factS
tucSon international airportThe Tucson International Airport is a public joint civil-military airport located within 10 miles south of downtown Tucson and the University of Arizona. The airport serves more then 3.2 million airline passengers per year. The airport contains seven airliners, which offer nearly 60 departures per day to 19 nonstop destination airports. The airport is the second busiest airport in Arizona just after Phoenix Sky Harbor. In 2017, Tucson International Airport has undergone renovations to add solar canopies over the parking lots in front of the terminals and new concession areas.
2017 median aGe in tucSon
33.3
2017 eStimated houSeholdS
204,341
2017 eStimated population
531,641
2017 eStimated emploYeeS
232,582
predicted JoB GroWth oVer the next 10 YearS
35.68%
recent JoB GroWth in tucSon
0.89%
aVeraGe commute time
27 Mins
uniVerSitY of ariZona The University of Arizona (UA) is one of Arizona’s largest public institutions and was founded in 1885. The university enrolls over 33,000 students a year and offers more than 100 majors for its students to choose from. The universities total campus size of 392 acres, which is situated in the heart of Tucson. The school’s motto is “Bear Down”, which originates from the last words of John “Button” Salmon in 1926, who was the UA student body president and football quarterback at the time.
The University of Arizona is heavily involved within the community of Arizona. Besides for sports and the university culture that is imbedded in Tucson, the university also involved with local schools to improve K-12 education, and works with rural communities on improving the health of residents. The university also has Tech Parks, which allow innovators and business developers to develop and test new technologies. It is believed that throughout all of the universities research, outreach, and Tech Parks, that the university generates an economic benefit of $8.3 billion in the state of Arizona.
BY the numBerS
deScription (WWW.rol3.SiteSuSa.com) 5 mile3 mile1 mile 10 mile
2017 Estimated Population 8,155 75,857 150,451 422,150
2022 Projected Population 8,266 78,013 155,594 436,575
2010 Census Population 8,199 75,541 148,486 410,932
2000 Census Population 6,133 67,691 132,024 365,730
Projected Annual Growth 2017 to 2022 0.3% 0.6% 0.7% 0.7%
Historical Annual Growth 2000 to 2017 1.9% 0.7% 0.8% 0.9%
2017 Median Age 29.4 31.1 30.7 32.2
2017 Estimated Households 2,700 24,120 47,941 155,645
2022 Projected Households 2,791 25,330 50,653 164,631
2010 Census Households 2,640 23,346 45,892 147,460
2000 Census Households 2,003 20,791 40,830 133,076
Projected Annual Growth 2017 to 2022 0.7% 1.0% 1.1% 1.2%
Historical Annual Growth 2000 to 2017 2.0% 0.9% 1.0% 1.0%
2017 Estimated White 51.6% 55.0% 52.7% 61.4%
2017 Estimated Black or African American 4.4% 2.7% 3.1% 5.0%
2017 Estimated Asian or Pacific Islander 1.4% 0.9% 1.0% 2.9%
2017 Estimated American Indian or Native Alaskan 4.8% 5.2% 5.8% 3.8%
2017 Estimated Other Races 37.7% 36.3% 37.4% 26.9%
2017 Estimated Hispanic 75.5% 79.8% 78.1% 56.0%
2017 Estimated Average Household Income $46,366 $45,899 $44,660 $49,205
2017 Estimated Median Household Income $36,390 $37,736 $37,551 $40,325
2017 Estimated Per Capita Income $15,359 $14,610 $14,420 $18,671
2017 Estimated Total Businesses 227 1,208 3,324 16,920
2017 Estimated Total Employees 2,266 12,244 61,743 232,582
2017 Estimated Employee Population per Business 10.0 10.1 18.6 13.7
2017 Estimated Residential Population per Business 35.8 62.8 45.3 25.0
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©2017, Sites USA, Chandler, Arizona, 480-491-1112 page 1 of 1 Demographic Source: Applied Geographic Solutions 04/2017, TIGER Geography
pricinG analYSiS · 23
demoGraphicS
Shaun Riley
Senior Managing Director
(949) 221-1807
R.E. License No 01165160
Sprint1840 W. Valencia road, tucSon, aZ 85746
The information contained herein has been carefully compiled from sources we consider reliable, and while not guaranteed as to completeness or accuracy, we believe it to be correct as of this date. The proforma revenues and expenses set forth in this brochure do not constitute a representation, warranty, or guaranty of any of the numbers set forth herein or of any economic value attributable to the property or income that may be derived therefrom. Independent estimates of proforma revenues and expenses should be developed before any decision is made on whether to invest in the property.
excluSiVe Broker:
Ellen Golden
Designated Broker Goldsmith Real Estate
6700 N. Oracle Road Suite 412 Tucson, AZ 85704
(520) 219-3100
Broker of Record AZ Broker No. BR522828000
inVeStment adViSor:
