Luxury Four-Building Tucson's ‘Plaza Colonial’ Offers Mix of Upscale Retailers, Restaurants, and a Fine Art Gallery Aligned with a Roster of Top-Tier Professional Office Tenants; Gantry Continues to See Success Sourcing New Loans for Office Assets in a Challenging Cycle
TUCSON, Ariz. (June 27, 2025) – Gantry, the largest independent commercial mortgage banking firm in the United States, has secured a $16.7 million permanent loan to refinance Plaza Colonial, a premier Class A mixed-use property featuring upscale office and retail space in Tucson’s Catalina Foothills.
Located at 2840–2890 E. Skyline Drive and 6375 N. Campbell Avenue, Plaza Colonial comprises four luxury buildings, totaling 83,869 rentable square feet, arranged around a landscaped, art-filled courtyard with panoramic views of the Catalina Mountains. The project features a blend of fine art galleries, luxury retailers, and gourmet restaurants, alongside professional office tenants that anchor its Class A designation.
Patrick Barkley, Principal, and Chad Metzger, Senior Associate, of Gantry’s Phoenix office represented the borrower, a private real estate investor. The five-year, fixed-rate loan was secured through an institutional balance sheet lender and features full-term interest-only payments. Gantry will also provide loan servicing.
“While the office sector continues to face headwinds in the current market cycle, Gantry successfully secured financing through a lender comfortable with underwriting new office exposure,” said Barkley. “Plaza Colonial stands out as one of metro Tucson’s premier professional and retail destinations. Despite underwriting complexities due to the property’s mixed-use profile, our early engagement strategy and broad lender outreach helped us identify a financing partner aligned with the asset’s strong fundamentals.”
Plaza Colonial’s prime foothills location—at the high-traffic intersection of Skyline Drive and Campbell Avenue—has long been considered one of Tucson’s most desirable commercial corridors. Its tenant mix and Class A finishes appeal to both discerning shoppers and professional service providers seeking premier office space.
The deal highlights Gantry’s ongoing success navigating challenging capital markets by leveraging long-standing lender relationships and structured financing solutions, especially for mixed-use properties that blend retail, office, and specialty uses.