Billionaire real estate and sports mogul, Stan Kroenke’s real estate company, The Kroenke Group, purchased the high-profile shopping center, Plaza Antigua at 4209 N Campbell Avenue in Tucson for $7.975 million ($394 PSF).

Stan Kroenke, owner of the St. Louis Rams also owns the Colorado Avalanche hockey team and the Denver Nuggets basketball team. The Kroenke Group (Stan Kroenke, president) is the second largest shopping center owner in the country.

A limited liability company formed by Columbia, Missouri-based The Kroenke Group acquired the 20,251-square-foot Plaza Antigua retail center, anchored by high performing Trader Joe’s, the country’s leading privately held chain of specialty grocery stores. The center was built in 2004 on 2.4 acres.

Situated at the hard corner location of Campbell Avenue (41,448 cars per day) and Limberlost Drive, two major Tucson thoroughfares. The center was 100% occupied with a synergistic tenant mix of grocery, food and service tenancy generating high frequency foot traffic impermeable to the threat of the internet.

Nancy McClure with CBRE in Tucson and Phil Voorhees with CBRE in Newport Beach, California represented the seller, Oakdale Farms of Danville, California (Michael Hoover, president)

For more information, Voorhees can be reached at 949.725.8521 and McClure is at 520.323.5117.

To learn more, see RED Comp #4078.

The Prince of Oracle LLC (Rick and Kevin Volk, members) purchased the former mixed use Carrington College complex at 3550 North Oracle in Tucson for $1.5 million ($30.18 PSF).

The property last occupied by Carrington College, was previously Apollo College, and transferred to Carrington in a non-arm’s length transaction when Carrington College acquired the Apollo College business.

The 49,705-square-feet under roof property on a 3.1 acre lot is located at the southeast corner of Prince and Oracle. It was 100% vacant at time of sale. Rick Volk reported that the college had remodeled 30,000-square-feet of offices in 2005 and there is an additional 10,000-square-feet of retail space and another 9,000-square-feet of warehouse space, all approximate numbers.

The property was purchased for investment and redevelopment as needed for lease. Based on interest in the property so far, Rick Volk reported, it will probably remain a mixed-use of office, retail and possible warehouse space.

“We’re excited about bringing the property back to market,” Rick Volk said. “The property has been vacant too long at this significant traffic-count corner, with 80,000 vehicles per day, we’re already getting interest from retail, office and even a school-use tenant.”

Chris Hollenbeck with Cushman & Wakefield in Phoenix represented the seller, Spirit Realty Capital (NYSE: SRC) a Scottsdale-based net-lease real estate investment trust (REIT) that invests in and manages a portfolio primarily of single-tenant properties.

For leasing information, Kevin and Rick Volk can be reached at Volk Company in Tucson at 520.326.3200. Hollenbeck can be contacted at 602.224.4475 for more information on this transaction.

To learn more, see RED Comp #4024.

Cotlow Ash V LLC (Dean P. Cotlow and Bruce Ash) sold the 5,184-square-foot Northwest Allied Physicians’ QuickMed Center at 1622 North Swan Road in Tucson for $1.9 million ($366.51 PSF) in a net-leased sale.

The property is located on Swan Road just south of Pima Street and approximately one mile from the Tucson Medical Center Campus and is one of two QuickMed Centers in Tucson.

The seller purchased the building vacant in December 2014, to renovate it for lease to Northwest Medical Center as a QuickMed Center.

The property was 100% occupied at time of sale with a 9+ year lease term and annual rent increases.

QuickMed Centers provide urgent and primary care family services, with no appointment needed, with lab and x-ray capabilities on-site.

This transaction was the upleg in a 1031 exchange for the buyer, the George P. Emmett Revocable Trust of Pleasanton, California (George P Emmett, Trustee).

Mike Sandahl of CBRE in Tucson represented the seller and Steve C. Tao of STR Advisor Group of Los Gatos, California represented the buyer.

For more information, Cotlow can be contacted at 520.881.8180 and Sandahl should be reached at 520 323.5115.

To learn more, see RED Comp #4056.