Tucson, Arizona - Larsen Baker, through its affiliate Manzanita Investment Group, LLC, purchased Manzanita Plaza, a 116,400-square-foot neighborhood center at the northwest corner of Valencia and Cardinal Road in Tucson, Arizona. The purchase price was $15,150,000 ($130 PSF).
Built in 1986, Manzanita Plaza is anchored by Safeway, and includes McDonalds, Chase Bank and KFC out parcels. The center was fully leased at the time of purchase.
"Manzanita Plaza's stable occupancy and strategic location at a core intersection in Tucson's southwest Midvale trade area make the property a great long term addition to our retail portfolio." said Melissa Lal, Larsen Baker's President.
David Murphy and David Bernstein of Bernstein Murphy represented the Seller, Community Centers of America-Glendale, LLC in the transaction. Larsen Baker represented the Buyer.
For more information contact Seleznov and Lal at 520.296.0200. Murphy and Bernstein can be reached at 480.656.1150.
To learn more, see RED Comp #6615.