TUCSON, Arizona – A retail pad building in The Crossroads Festival Plaza at 4861 E Grant Rd. in Tucson sold for $2.09 million ($173.46 PSF).
The buyer, Van’s Tucson Golf Properties was a tenant prior to sale and will continue to occupy 8,985-square-feet as an owner user dba Van’s Golf Shops, in the 12,000-square-foot building along with Baggin’s Sandwiches and Aria Salon.
The highly visible and accessible property is in one of Tucson's most established and recognized commercial shopping centers, anchored by Roadhouse Cinema, Fry's, Bed Bath and Beyond, Starbucks, Outback Steakhouse, Compass Bank, Smashburger, Panera Bread and other shops.
Located in the northeast submarket, it is at the northeast corner of the major intersection of Swan and Grant Roads.
Brett Chetek, Alex Perez and Chris Garavaglia of The Chetek Group - Marcus & Millichap in Miami, Florida handled the transaction.
“Tucson has a lot of interest from national investors because of its market growth, relatively low cost of living, its technology start-up companies and education system,” according to Brett Chetek.
The Chetek Group represented the same seller, James Miller, a private investor from Tucson, in the sale of North Pointe Village in August when it sold for $8.72 million ($198 PSF). The 44,000-square-foot retail center at 6741-6781 N Thornydale Road in Marana is shadow anchored by Costco, Home Depot and Sportsman’s Warehouse, northwest of Orange Grove and Thornydale Roads.
For additional information, The Chetek Group should be reached at 786.522.7091.
To learn more, see RED Comps #5308 and #5132.