7424 West McDowell Road Phoenix, AZ 85035

This property is an absolute triple net (NNN) ground lease Circle K, meaning there are zero landlord management responsibilities. The tenant is responsible for property taxes, insurance, and all repairs & maintenance at the property, including the roof & structure. The tenant has been operating at this location since the original lease commenced in 1990, demonstrating their success and commitment to this location. The lease has been extended several times, and is currently set to expire in June 2027. The tenant has a total of four, 5-year renewal options followed by two, 10-year renewal options. The lease is corporately guaranteed by Circle K Stores Inc. Circle K is a global chain of convenience stores and gas stations headquartered in Tempe, AZ. It is the second largest convenience store chain in the world, with over 14,800 locations across North America, Europe, and Asia. The property benefits from its location in a strong retail corridor and within close proximity to several large shopping centers. The Desert Sky Esplanade, featuring Walmart Supercenter, Lowe’s, Ross, and more is across the street as well as The Home Depot. Within a mile from the property is the Desert Sky Mall, a 888,000+ square feet indoor bilingual shopping mall. The property is located on the hard, signalized corner of McDowell Rd and N 75th Ave and benefits from excellent visibility. The combined average traffic counts at this intersection are 64,728 vehicles per day. Additionally, less than a quarter mile away is a point of entry to the Interstate-10 highway, which has daily traffic counts of 240,000+ vehicles near this exit. This is a court-ordered sale, which may affect the timing of the transaction.