INVESTMENT OVERVIEW
Lee & Associates, as exclusive advisor for the Owner, is pleased to present the opportunity to acquire the Ace Asphalt Southwest Portfolio Buildings located in Phoenix, Arizona. This two property portfolio is available individually or together. The Phoenix Ace Asphalt Headquarters offering is comprised of a timeless 27,682 square foot office that is visually pleasing and equally functional consisting of corporate administration space and a designated operations center. Behind the headquarters is an additional 11,766 square feet of 24’ clear height, cooled, shop space with over 3,000 square feet of mezzanine space and heavy power. The Property, constructed in 2002 by the tenant, is situated on 29.52 acres, featuring expansive yard space and a building layout accommodating to future growth and flexibility. The Tucson offering is the perfect complimentary location to service one of the region’s largest parking lot construction and asphalt maintenance companies. The 5,886 square foot of office building, additional shop space, and yard allows Ace Asphalt the ability to service multiple markets in Southern Arizona.
THE TENANT
Through persistent focus on reliability, responsiveness, and results for over 50 years, Ace Asphalt Arizona Inc. has become the largest private grading, paving, and pavement maintenance company in Arizona. Ace paves or resurfaces over 180 million square feet per year, is a two-time member of the Inc. 5000, and has been ranked by its customers among the Top 10 Heavy Construction Companies in Arizona for the past 10 years. Since 1966, they have been providing quality asphalt sealing, repair, maintenance, asphalt paving, concrete, and parking lot striping services for commercial, industrial, and public works projects of all types. Serving markets in Texas, Nevada, Arizona, New Mexico with strategic partnerships in Colorado, Ace is a regional contractor with a longstanding history of performance and results.
THE OPPORTUNITY
The Ace Asphalt Southwest Portfolio presents an excellent opportunity for an investor to acquire one or two 100% leased, freestanding office buildings with industrial buildings and additional yard space. Assets with nicely finished offices and yards are a difficult combination to replace which is why Ace Asphalt extended from a three (3) year option to a ten (10) year extension. The annual rental increases of three percent (3%) provided by the triple net (NNN) lease will help an investor pace inflation for the next ten (10) years of remaining term.
