TUCSON, ARIZONA (May 7, 2025) — Two prominent retail buildings in Tucson’s iconic Historic 4th Avenue Commercial District changed hands in separate transactions on April 9, reflecting continued investor interest in the city’s walkable, culturally rich urban core.
In the first deal, Western American Investments, LLC, a Scottsdale-based real estate investment firm, acquired the fully occupied retail property at 545–561 N. 4th Avenue for $805,000 ($183 PSF) in an all-cash transaction. The seller was Birds of a Feather, a Maryland-based entity.
The 4,400-square-foot building, constructed in 1944 and designed by renowned architect Josias Joesler, is a contributing property in the Historic 4th Avenue Commercial District. Home to La Iguana Art Gallery, the site sits amid a vibrant mix of locally owned shops, restaurants, and entertainment venues that draw year-round foot traffic from students, residents, and tourists alike.
Founded in 2016, Western American Investments focuses on acquiring, managing, and repositioning value-add commercial properties across Arizona, particularly in high-traffic urban areas. The company is located at 7802 E. Gray Road in Scottsdale and can be reached at (480) 998-4850 or online at www.commercialcondomls.com.
WTF Land Holdings, LLC, acquired a nearby retail building at 400–404 N. 4th Avenue in a separate transaction for $1,050,000 ($162 per square foot). The 6,476-square-foot property sits in the heart of the same historic corridor, well known for its eclectic vibe and as host of the 4th Avenue Street Fair, which draws more than 600,000 annual visitors.
At the time of sale, 1,123 square feet of the property was available for lease at an asking rate of $20 per square foot NNN, offering immediate opportunity for retail or hospitality tenants eager to capitalize on the district’s dynamic foot traffic and cultural cachet. See also WTF Land Holdings Acquires Prime Retail Property in Tucson’s Iconic 4th Avenue District - Real Estate Daily News
The sellers, South on Seventh, LLC and Birds of a Feather, LLC were represented by Rob Tomlinson, Principal and Retail Specialist at Cushman & Wakefield | PICOR, along with Fred Howard of Progressive Property Management, LLC. The buyers, Western American Investments, LLC and WTF Land Holdings, LLC were represented by Paul Hooker, SIOR, Principal and Industrial Specialist, also with Cushman & Wakefield | PICOR.
“These transactions affirm the strength of Tucson’s urban retail market,” said Tomlinson. “4th Avenue continues to attract both local entrepreneurs and out-of-market investors looking to participate in the district’s ongoing renaissance.”
For more information, Hooker can be reached at 520.546.2704 and Tomlinson is at 520.546.2757. Howard can be contacted at 520.320.0010.
Reference: RED Comps #11846 and #11848.
PHOTO: 545–561 N. 4th Avenue, Tucson