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SUN CITY, AZ-A Denver couple looking for a long-term tenant, few landlord responsibilities and a quick 1031 Exchange found the perfect deal in a newly built Eckerd drug store.

Ron and Judy Green picked up the 13,813-sf, stand-alone property at 9901 W. Thunderbird Rd. in Sun City with a $3.5-million offer to seller, Eckerd Corp., just days before their exchange deadline expired, Van Robinson, with Sperry Van Ness, tells GlobeSt.com. “The buyers were attracted to the property because it is a new, absolute triple net, single-tenant property with no landlord management responsibility and an initial 20-year lease with a credit tenant,.” Robinson said. “They’re a 1031 buyer and they wanted to find something that had a long-term income stream.”

The drug store, the first of about 50 Eckerd Drugs to be opened in the Valley, is located about one mile west of the Loop 101 in a shopping plaza anchored by Trader Joe’s.Robinson represented the buyer in the transaction. Eckerd was represented by Steven Regenstreif of Marcus & Millichap.

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