TUCSON, ARIZONA – Local investor Larsen Baker, through its affiliate Rancho Center Developers, LLC recently acquired the 80,000-square-foot shopping center located at 3302-3416 E Speedway Blvd. in Tucson, Arizona for $10.1 million ($126 PSF).
Located southeast of Country Club on Speedway, within minutes of the University of Arizona, El Con Mall and Banner University Medical Center. Built in the 1950s, the center was 83% occupied when it sold, anchored by Whole Foods Market, Bookmans Entertainment Exchange and Zia Records. Other tenants include Pacific Dental Services, Jersey Mike’s Subs, Desert Spin, B.K.S Iyengar Yoga Studio, Tomas Woodwork, Real Estate Direct, 9th Street Rentals and others.
A few of the retail centers similar in size to Rancho Center owned by Larsen Baker include:
- Tucson Place, NWC First Ave & Wetmore in Tucson
- Marana Marketplace, SEC Orange Grove & Thornydale in Marana
- Circle Plaza, SEC Kolb & Broadway in Tucson
- Cochise Plaza, NEC Fry Blvd & Coronado, Sierra Vista
- Crossroads Festival, NEC Swan & Grant in Tucson
- Oracle Fort Lowell Center, NEC Oracle & Fort Lowell in Tucson
- Manzanita Plaza, NWC Valencia & Cardinal in Tucson
- Tri Valley plaza, SEC Florence & Colorado, Casa Grande
- The Plaza at Williams Centre, SWC Broadway & Craycroft in Tucson
- 22nd & Craycroft Center, NWC Craycroft & 22nd Street in Tucson
The sellers, Rancho Center, LLC and SMOSK Holdings, managed by the Robert Kivel Family, are also local investors.
The buyer was represented by Isaac Figueroa with Larsen Baker, LLC. The seller, Rancho Center, LLC, et al. was represented by Debbie Heslop with VOLK Company.
For more information, Figueroa can be contacted at 520.296.0200 ext. 218 and Heslop can be reached at 520.495.2235.
To learn more, see RED Comp #9698.
