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Black Lion Investment Group Acquires Tucson Retail Properties From Weingarten Realty For $38.0M

Property Image
SOLD
$38,025,000

Arizona

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Retail150,170 SF
Sold 01/28/2021
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Property Image
SOLD

Black Lion Investment Group Acquires Tucson Retail Properties From Weingarten Realty For $38.0M

4220 North Oracle Road, Tucson, AZ, USA

See Similar Deals
Retail150,170 SF
Sold 01/28/2021
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:Retail
Price Per Square Foot:$253
Total Square Footage:150,170 SF
Transaction Type:Sale

The retail properties located at 4220 Oracle Rd., 4270 Oracle Rd., 4240 Oracle Rd., 4336 Oracle Rd., 4374 Oracle Rd., and 235 Wetmore Rd. in Tucson, Arizona have been sold. The buyer of these properties is Black Lion Investment Group, represented by Robert Rivani. The seller of the properties is Weingarten Realty. The total square footage of the properties is 150,170, and the sale price is $38,025,000. This amounts to a price per square foot of $253.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $38,025,000
  • Buyer: Black Lion Investment Group - Robert Rivani
  • Seller: Weingarten Realty
  • Address: 4220 Oracle Rd., 4270 Oracle Rd., 4240 Oracle Rd., 4336 Oracle Rd., 4374 Oracle Rd., and 235 Wetmore Rd., Tucson, Arizona
  • Market: Tucson, Arizona
  • Tenants: Walgreens, Home Depot, PetSmart, BJ's Restaurants, Bassett Furniture

The retail properties were sold to Black Lion Investment Group, with Robert Rivani representing the buyer. Weingarten Realty acted as the seller. The properties are located in Tucson, Arizona and have a total square footage of 150,170. The sale price for these properties was $38,025,000, resulting in a price per square foot of $253.

Players

Robert Rivani
Black Lion
Robert Rivani
51 deals$488.5M volume
BUYER
WR
Weingarten Realty
SELLER
Walgreens
Walgreens
TENANT
H
HomeDepot
TENANT
P
PetSmart
TENANT

Details

SOLD
IMAGE: Robert Rivani DATE: 01/28/2021 ADDRESS: 4220 Oracle Rd., 4270 Oracle Rd., 4240 Oracle Rd., 4336 Oracle Rd., 4374 Oracle Rd., 235 Wetmore Rd. MARKET: Tucson, Arizona ASSET TYPE: Retail BUYER: Black Lion Investment Group (@RRBlackLion) - Robert Rivani SELLER: Weingarten Realty TENANTS: @Walgreens, @HomeDepot, @PetSmart, @BJsRestaurants, @BassettFurniture PRICE: $38,025,000 SF: 150,170 ~ PPSF: $253

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,028,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$135,094.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$180,257.90
Annual Debt Service$2,163,094.79