$1,025,000 (sold)

O’Reilly Auto Parts, Gilbert, AZ

Single Tenant Retail 6,650 ft2

Purchase, hold and re-sale of a 6,650 square foot O'Reilly Auto Parts store in Gilbert, Arizona.

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SteepleRock acquired this property in March 2014, and resold it in January 2016, with a nice gain that was exchanged (tax=-deferred) into another property.

The acquisition was from a seller in distress, having been told the tenant would not exercise its renewal option in 90 days.  SteepleRock renegotiated the lease and the purchase price during the escrow, creating a win-win for all parties.