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Arizona Financial Credit Union – Queen Creek

• Parcel 304-89-942A
  North of NE Corner of Ellsworth Loop & Rittenhouse Rd.
  Queen Creek , AZ 85142

• Real Estate Type: Land

• Square Feet: +/- 3,500 SF building on 1 acre pad

Project Overview

• Land lease for 3,500 SF Credit Union branch
• Drive thru capability required
• Great location in the heart of Queen Creek

Challenge

• Lack of inventory in desirable locations
• Developers not willing to consider build to suit options for long-term leases
• Timing and rising T.I. prices

Solution

• Cold calling active broker in area to identify potential off market options or coming soon option
• Collaboration with client and general contractors to get comfortable with potential construction costs

Results

• Executed 20-year land lease with four renewal options of 5 years each to secure long-term stability
• Beat out competing groups willing to pay more by explaining the benefits of credit union user over high-risk food user
• Locked in long term land lease months before public announcement of new development across the street driving up rates on all remaining product