Tuft and Needle Corporate Headquarters
Phoenix, AZ
Price: $8,730,000Cap Rate: Building SF: 36,000 SFLot Size: 1.13 AcresYear Built: 1917 / Ren 2013Status: Closed

Investment Highlights: 

Long-Term Lease with Two Options – The lease commenced in January of 2016 and has approximately 9 years remaining in its primary lease term with two 5-year options.

Extremely Strong Tenant Revenue Growth – Tuft & Needle’s revenue is increasing exponentially. Revenue in 2012 was ± $1 Million,in 2016 they exceeded $100 Million, and this year sales are expected to exceed $200 Million.

Located in Downtown Phoenix Redevelopment Area  – Downtown Phoenix is the geographical center of the Phoenix Metropolitan Area. Between 2004 and 2015 more than $4.6 Billion of private and public capital was invested in revitalizing Downtown Phoenix, creating a vibrant urban center cultivating the live, work, and play environment.

Rental Increases – The lease features 10% increases after the first five years and in each of the five-year options.

Masterfully Renovated Historic Building – The Tuft & Needle Corporate Headquarters & Showroom is located in the historic O.S. Stapley Building. It has been beautifully renovated by SimonCRE and features skylights, trusses, and large glass front doors. The renovations include a brand new roof and fire sprinkler system.

Best Reputation in the Business – Tuft & Needle is the #1 “Best Buy” according to Consumer Reports and the #1 top rated mattress on Amazon.com. The company has been recognized in over 20 different publications in the last two years alone.


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977