Inline Shops at Gold Canyon Plaza Sell For $4.45 Million

Red Mountain Asset Fund II, LLC, an affiliate of Red Mountain Retail Group of Santa Ana, CA (Michael Mugel, CEO) purchased the inline shops at Fry’s Gold Canyon Plaza, 3720 – 3780 West Ina Road in Marana for $4.45 million ($176 PSF). The property was 100% leased by multiple tenants including Peter Piper Pizza, Cato, Villa Mexican Foods and others.

The sale did not include the Fry’s store or gas station nor Discount Tire in the center. Buildings are located on lots 1 and 4 of Gold Canyon Plaza, totaling 25,250-square-feet of retail space (built 1984) on two pads with an aggregate of 1.8 acres.

This is Red Mountain’s second acquisition in the Tucson market. The company also owns the 190,854-square-foot Southgate Shopping Center, at the south-west corner of the I-10 Freeway and 6th Avenue in Tucson, Arizona.

Town West Realty II (James Horvath, President) was the seller having bought the property in 2011 for $3.45 million.

There were no brokers reported for the transaction, both parties were self-represented.

For leasing information at Gold Canyon or Southgate, contact Carol Harder at Red Mountain at (602) 977-9202.