Property leased to a leading jewelry brand and situated in one of Tucson’s main retail hubs
TUCSON, Ariz. – Cushman & Wakefield announced the firm has brokered the net leased sale of a freestanding retail building in Phoenix, Arizona. Located at 4240 N Oracle Rd, the 5,856-square-foot property is fully leased to Jared Jewelers, a specialty retail jewelry store chain and sold for approximately $4.75 million ($811 PSF). The buyer was North 43rd Enterprises, LLC based out of Livermore, CA. and the seller was RJR Tucson, LLC.
Chris Hollenbeck and Shane Carter with Cushman & Wakefield in Phoenix represented the seller in the transaction.
“This is a strong, stable asset fully leased to an international credit tenant that has operated at this location for 15 years,” said Chris Hollenbeck. “Surrounded by other popular retailers, the property is also desirably located at a strong intersection within the Oracle Road Corridor, one of Tucson’s main retail hubs.”
Built in 2004, the property is an outparcel of the Ridge at Creekside shopping center anchored by several major retailers and other brand names. The location is well positioned at the highly visible intersection of Oracle and Wetmore roads, with frontage along Oracle Rd. The Tucson Mall and Auto Mall are also directly north of the property.