TUCSON, ARIZONA — Randolph Plaza at 4202 E 22nd Street in Tucson sold for $20.5 million ($113 PSF). The neighborhood retail center is anchored by  Fry’s, Ross / DD’s, Goodwill, Dollar Tree, Rainbow, Peter Piper Pizza and several other national retailers.

The 180,687 square-foot center was built in 1972 on 17.33 acres southeast of Alvernon Way on 22nd Street. Not included in the sale were the two outpads with a Denny’s and a two-tenant retail building.

The Fry’s claims to be one of the top producers in Tucson located adjacent to Randolph Park with nearly 96,000 cars per day on 22nd Street.

Ryan Schubert with Cushman & Wakefield (Phoenix) represent the Scottsdale-based seller, Arizona Partners Retail Investment Group in this off-market transaction. The buyer, A&C Properties (Joseph Cattaneo, director) is from Phoenix.

For more information, Schubert should be reached at 602.224.4472.

To learn more, see RED Comp #9907.

TUCSON, ARIZONA – The Fiesta Mercado at 2920 – 2980 S 6^th Avenue in Tucson sold for $12,265,000 ($149 PSF). Anchored by a 47,835-square-foot Food City grocery store, a subsidiary of Basha’s which opened its first store in Arizona in 1932. The company now serves every county in Arizona with 130 stores under the brands of Bashas’, A.J.’s Fine Foods and Food City.

The 82,338 square foot Fiesta Mercado is located northwest of I-10 and 6^th Avenue and sits on 8.83 acres. The asset sold on June 29, 2022.

Rent-A-Center at 2930 S 6^th Ave is another long-term tenant that began with eight stores in 1986, Rent-A-Center (NASDAQ:RCII) is now the largest rent-to-own operator in the U.S. with an approximate 34% market share based on a store county of 2,863. Rent-A-Center has a market capitalization of ±$1.79 billion and annual revenue of ±$2.33 billion.

Other tenants in the center include:

• Casa Lee at 2960 S 6^th Ave is a clothing boutique specializing in both men’s and women’s clothing along with jewelry and other accessories. Casa Lee has a second location at the Fry’s Shopping Center at I-19 and Ajo Way.
• TitleMax of Arizona at 2960 S 6^th Ave Suite 120, has been providing the residents of South Tucson at this location since 2011 and offers fast cash for car and motorcycle loans.
• Jackson Hewitt Tax Service, Inc. (NYSE:JTX), at 2960 S 6^th Ave.,  is the second largest tax preparation service company in the United States, with over 6,800 company -owned offices in 49 states and DC and is a privately held company.
• Little Caesar’s Pizza, at 2980 S 6^th Ave, is the fourth largest pizza chain in America, was founded in 1959 in suburban Detroit by Mike and Marian Illitch, whose family still owns and operates the business. The company consists of approximately 2,850 company-owned and franchised locations around the U.S. and on 5 other continents.
• Casa de Nails, at 2980 S 6^th Ave, is a locally owned nail salon offering a full line of nail services, including manicures, pedicures and acrylics.
• Montanos Fashion, at 2970 S 6^th Ave, a highly acclaimed bridal store in the Tucson area that carries quality bridals dresses, formal dresses and supplies and a vast selection of tuxedos for men.
• T-Mobile at 2980 S 6^th Ave Suite 110, is a leading premium retailers provider of T-Mobile USA with 129 locations throughout the western states.
• El Coco Loco, at 2980 S 6^th Ave,  is a local Mexican food restaurant with a great reputation for authentic Mexican food serving the South Tucson area.
• Wingstop, at 2980 S 6^th Ave, is a national food chain that in the “flavor business” not just the wing business. Wingstop is the destination when you crave fresh wings and their famous sides.

Sean Lieb with Levrose Commercial Real Estate (Phoenix) represented the California seller, J3 Capital Fund I, LLC and partners. The buyer was a family trust from Lake Havasue City, AZ, Myung and Connie Chol Trustees.

To learn more see RED Comp #9964.

TUCSON, ARIZONA — DSW Commercial et al closed on the southwest corner of Wilmot and Broadway retail center at 6228, 6230 and 6270 E Broadway Blvd in Tucson for $9.25 million ($148 PSF) in an off-market transaction.

The 62,399 SF retail center was built in 1974 on 6.52 acres, and has tenants such as Tuesday Morning, Bev Mo!, Famous Footwear, and did not include the three pads for Dutch Bro’s, Sweet Tomatoes or the gas station. The buyer also owns Wilmot Plaza on the northwest corner of Wilmot & Broadway with Nordstrom’s The Rack and TJ Max.

James Hardman of DSW Commercial Real Estate represented the buyer, SWC Wilmot and Broadway Manager, LLC affiliate DSW IREIF SWC Wilmot Owner, LLC. The seller, Kivel Realty Investments’ affiliate K-Gam Broadway Wilmot, LLC was self-represented.

“This is our second acquisition at Wilmot and Broadway; we just love the Wilmot corridor for its strong retail opportuny,” said Hardman. “It’s one of three proven retail areas in Tucson; the others being at Irvington and I-19 and around the Tucson Mall area.”

The property closed on June 30th with only a couple of vacancies in the center.

For more information, Hardman can be reached at 520.297.8929.

To learn more, see RED Comp #9974