TUCSON, ARIZONA – The Fiesta Mercado at 2920 - 2980 S 6th 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 6th Avenue and sits on 8.83 acres. The asset sold on June 29, 2022.
Rent-A-Center at 2930 S 6th 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 6th 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 6th 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 6th 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 6th 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 6th Ave, is a locally owned nail salon offering a full line of nail services, including manicures, pedicures and acrylics.
- Montanos Fashion, at 2970 S 6th 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 6th 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 6th Ave, is a local Mexican food restaurant with a great reputation for authentic Mexican food serving the South Tucson area.
- Wingstop, at 2980 S 6th 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.
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