ORO Valley, Arizona – Brentwood Developments, Inc. of Rocklin, California (Brad Griffith, manager) purchased the 34,770-square-feet of inline shop space at the Safeway Rancho Vistoso Shopping Center, 12112, 12142 and 12152 N Rancho Vistoso Blvd in Oro Valley for $10 million ($287.60 PSF).
This is the fifth asset acquisition by Brentwood in the Tucson area; it also owns The Shoppes at Continental Ranch, Montesa Plaza, The Shoppes at First & Roger and is the developer at 22nd Street & Houghton for a new 96,000-square-foot Fry’s Food & Drug store with fuel station (see RED Comp #5615).
Craig Finfrock with Commercial Retail Advisors represented Brentwood Development. “The Safeway Rancho Vistoso Center was 100% occupied at time of sale and is one of the nicest shopping centers in the metro Tucson area,” Finfrock said. “The Safeway store is also one of the best stores in the state.”
Tenants include: Flavor of India Restaurant, Artistry Academy, LLC, State Farm Ins., AIM Mail Center, Planet Beach Tanning, Regis/Cost Cutters, Nails of the World, Vistoso Cleaners, Tucson Animal Hospital, The Tutoring Center, Saguaro Café, Yoga and Movement Studio, Desert Palms Physical Therapy, Halo Hair Studio, Pusch Ridge Chiropractic, Cui Huang Reflexology, Cheers to You! Nutrition, Catalina Hills Botanical Care, LabCorp, Inc., Rosati’s Pizza and Sports Pub, and Dragon Village Restaurant.
Robert J. Nolan of Oxford Realty Advisors represented the seller, SB Vistoso Shopping Center, LLC of Paradise Valley, Arizona.
Nolan has leased the property since the seller purchased it, 15 years ago. “Six of the tenants are original tenants,” Nolan commented. “Nails of the World, Planet Beach Tanning, Dragon Village Restaurant, State Farm Insurance, Vistoso Cleaners and LabCorp are all original tenants which speaks to the business attractiveness of the center.”
Not included in the sale was the Safeway store and two out pads; Finfrock will handle leasing for the new owner.
For more information, Finfrock should be reached at 520.290.3200. Nolan can be reached at 520.232.0200 ext. 118.
To learn more, see RED Comp #6084.