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

O. 760.448.2446
F. 760.929.9977

Ryan Bennett

O. 760.448.2449
F. 760.929.9977