SIERRA VISTA, Arizona – CBRE has arranged the $4,264,500 sale of The Mall at Sierra Vista, an enclosed regional mall in Sierra Vista, Arizona. Sierra Vista Mall Realty Holdings, LLC, based in Great Neck, NY, acquired the property from Sierra Vista Mall, LLC.
Nancy McClure of CBRE in Tucson along with Phil Voorhees, Jimmy Slusher, Trent Steeves of CBRE’s National Retail Partners – West represented the seller in the transaction.
Located 60 miles southeast of Tucson at 2200 El Mercado Loop, The Mall at Sierra Vista is a 437,880-square-foot, single-story enclosed mall, with 165,626-square-feet included in the sale. The mall was 87 percent leased at the time of sale to a strong tenant lineup that includes anchors Best Buy and Cinemark Theaters, in addition to a non-owned Dillard’s and former Sears. Other notable tenants include Victoria’s Secret, Applebee’s, Famous Footwear, Bath & Body Works and Texas Roadhouse.
The Mall at Sierra Vista was originally built in 1999 and is one of Cochise County’s main retail destinations and the city’s only enclosed mall and its only movie theater, enabling the center to draw from the129,300 residents in the Sierra Vista Metropolitan trade area. Additionally, the mall benefits from its proximity to Sierra Vista’s largest employer, Fort Huachuca, a military base with 18,000 daily personnel.
The Mall at Sierra Vista is at a prominent location along State Route 92, a major thoroughfare in the region with an average daily traffic count of 20,654 cars per day.