Catalina Foothills Retail Center Trades for $18.4 Million

Phoenix Commercial Advisors sells Paloma Village Center in Tucson

Tucson, Ariz.– Phoenix Commercial Advisors facilitated the sale of Paloma Village Center, a high-profile, daily needs retail center in Catalina Foothills. The property, located on 4.49 acres on the southeast corner of Campbell Avenue and Skyline Drive in Tucson, Ariz., sold for a total of $18,400,000 ($480 PSF).

The 38,347-square-foot center was 94 percent leased with a mix of internet-resistant tenants, including Starbucks, CVS Pharmacy, Fleming’s Steakhouse, and more. Chad Tiedeman and Danny Gardiner at Phoenix Commercial Advisors represented the seller in the transaction.

“Right across from the La Encantada, this property is centered in a high-traffic retail corridor. Along with the location, the surrounding neighborhood, Catalina Foothills, provides the property with one of the most affluent consumer trade areas in the state, which helped attract the buyer. It was pleasure to work with this seller.” – Chad Tiedeman