Cohen & Steers REIT Acquires Sprouts-Anchored Oracle Crossings in Oro Valley for Combined $54.35 Million

Oracle Crossings
Oracle Crossings

ORO VALLEY, ARIZ. (June 4, 2026) — Cohen & Steers Income Opportunities REIT, Inc. has acquired Oracle Crossings, a Sprouts Farmers Market-anchored open-air shopping center at Oracle and Magee roads in Oro Valley, in a combined transaction totaling $54.35 million.

The acquisition included the main Oracle Crossings Shopping Center at 7607 N. Oracle Road and the adjacent O’Reilly Auto Parts / Entrada del Oro Plaza property at 7861–7871 N. Oracle Road. Together, the properties total approximately 267,046 square feet of retail improvements on approximately 18.86 acres.

The buyer was Oracle Station LLC of Cincinnati, Ohio. The sellers were Oracle Crossing LLC and Oracle & Magee LLC. The sales closed on May 29, 2026.

Cohen & Steers announced the acquisition through Cohen & Steers Income Opportunities REIT, Inc., known as CNSREIT. The purchase was completed through CNSREIT’s programmatic joint venture with Phillips Edison & Company, a publicly traded owner and operator of grocery-anchored shopping centers.

Oracle Crossings is a 266,000-square-foot, grocery-anchored open-air shopping center anchored by Sprouts Farmers Market and HomeGoods. The center was reported to be 96% leased at the time of acquisition and benefits from its high-visibility location at the intersection of Oracle Road and Magee Road, with traffic counts of approximately 66,000 vehicles per day. The center attracts more than 2.1 million annual visitors.

Ben Craney and Jayme Fabe of NAI Horizon Tucson were doing the leasing at Oracle Crossings.

“Oracle Crossings is exactly the type of necessity-anchored, high-quality retail asset we seek to own in CNSREIT,” said James S. Corl, Chief Executive Officer of CNSREIT and Head of the Private Real Estate Group at Cohen & Steers. “Tenants demonstrate strong performance, and the property’s location in one of Tucson’s most affluent and supply-constrained submarkets provides a compelling foundation for durable income and long-term growth.”

The larger Oracle Crossings transaction was recorded at $49.65 million for approximately 252,710 square feet of retail space on 18.53 acres. The adjacent O’Reilly Auto Parts / Entrada del Oro Plaza property sold for $4.7 million and included approximately 14,336 square feet on 0.33 acres.

CNSREIT said the acquisition reflects its current focus on high-quality, income-producing, necessity-driven shopping centers in strong markets. Cohen & Steers cited the broader Tucson metro’s population and income growth, along with economic drivers including the University of Arizona, Raytheon, Davis-Monthan Air Force Base, and Banner Health.

Phillips Edison & Company, CNSREIT’s joint venture partner, is one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers. As of March 31, 2026, PECO managed 326 shopping centers, including 299 wholly owned centers totaling 33.7 million square feet across 31 states.

Sources: Cohen & Steers Income Opportunities REIT press release and RED Comps #12523 and #12522.