TUCSON, AZ – Nick Miner, CCIM of ORION Investment Real Estate, reports selling a 12,049-square-foot multi-tenant, retail building at 4861 East Grant Road, just east of the northeast corner of Swan Road and Grant Road in Tucson for $2,750,000 or $228 per square foot. The property was 100% occupied by local and regional tenants.
Miner represented the Seller in the transaction, Vans Tucson Golf Properties, LLC, who Miner has been helping to liquidate other real estate holdings. Miner continues to market a property in Scottsdale, Arizona and Indio, California for the seller.
Tucson, Arizona, Arizona’s second largest city, has a population of 541,482 people and is home to The University of Arizona, one of the major employers in the area. The university gives the city a vibrant college town atmosphere and contributes greatly to the diversity and breadth of its cultural scene. Located in Pima County, Tucson offers residents an urban suburban mix feel.
Nick Miner, CCIM, Senior Vice President at ORION commented, “We had multiple offers within the first week of marketing the property for sale. The buyer that was selected owned other retail centers in the market which provided a high level of confidence of closing.”
Miner continued, “The buyer purchased the property because of the great mix of tenants and location in the Crossroads Festival Shopping Center which is anchored by Fry’s (Kroger).”
Buyer, PALZ Properties, LLC, was represented by Robert Nolan of Oxford Realty Advisors in Tucson.