TUCSON, ARIZONA, May 4, 2023 — CRE Silverbell Road, LLC and a related LLC purchased the retail center at 8553 N Silverbell Rd and a .90-acre lot within the Silverbell Plaza Shopping Center located at 8551-8557 N. Silverbell Rd. in Marana for $315,000 ($8 PSF), from Aljaar Investment Corp. The combined investment by the purchaser in this high-demand shopping center is just over $1 million.
The purchaser has plans to develop the retail property, serving the rapidly growing Continental Ranch and surrounding communities. Branel Real Estate Company has been awarded the assignment of pre-leasing the site for development.
The asset closed on May 1, 2023.
Bruce Suppes and Ian Stuart, Vice Presidents with CBRE, represented the seller, and Batoun Herrington, CCIM, CPM®, President of Branel Real Estate Company, LLC, represented the purchaser in this transaction.
For more information, Suppes can be contacted at 520.323.5155, and Stuart is at 520.323.5180. Herrington should be reached at 520.524.5248.