Lucescu Realty announces sale of grocery anchored center in Tucson, AZ
- LUCESCU REALTY exclusively represented the interest of the Seller, a Private Investor, and procured the Buyer.
- An approximate 163,294 Square Foot, Grocery Anchored, Community Shopping Center anchored by a high-grossing Albertsons, Ross Dress for Less and Ace Hardware (all included as part of the sale). Offering also included an adjacent 27,895 Square Foot Office Building.
- All Anchors, In-Line Shops and Pads were included in the sale.
- Located in the heart of Tucson, Arizona, within one (1) mile of the campus of the University of Arizona.
- The Offering represents a rare “value add” opportunity to remodel a Seasoned, Grocery-anchored, Community Shopping Center situated in one of the most dense trade areas in Arizona.
- The Property boasts one of the largest assemblages (nearly 17 acres) of commercial land along the Campbell Avenue Corridor.
- All Cash Offering.
- 98.7% Leased; 93.78% of the leased Retail GLA is occupied by National and Regional tenants that account for 87.4% of the Total Annual Base and NNN Rent.
- Densely Populated Trade Area. Within a 3-mile radius, the current Estimated Population is 135,147.