TUCSON, Arizona — Nestled along the base of the Pusch Ridge Mountains, the Oracle Road Corridor from the Town of Oro Valley to Catalina has many new developments reporting ‘business exceeds expectations’.
The Canyons at Linda Vista Trail Apartments at 9750 N Oracle Road in Oro Valley, owned and developed by Ross Rulney and Malcom Berman opened this past October. This upscale lifestyle apartment community with 228 luxury apartment units is reporting a 60 percent occupancy already.
“The community is leasing at a quicker pace than we had expected, and we are very pleased with its success,” said Rulney. The tenancy is also diverse, with single professionals, families, as well as retirees looking to downsize.
Kneaders Bakery & Café that also opened this past October is reporting the second highest sales volume of Kneaders’ 41 locations. Located at 9660 N Oracle Road in Oro Valley, the restaurant appears to be have been well received by the locals.
Building on success such as this, Rulney has a new multitenant retail building under construction at the Canyons. Debbie Heslop, CCIM, with Volk Company told us Growlers USA, a microbrewery and a Nail Salon have preleased portions of the 8,000-square-foot building, leaving 4,500-square-feet for a possible restaurant concept tenant in this 40,600-square-feet planned retail center on 7 acres at full build out.Site Plan for The Canyons Retail and The Canyons at Linda Vista Trail Apartments
Nearby, at Oracle and First Ave., Steam Pump Village is 100% leased.
Brenna Lacey and Rick Volk with Volk Company handle Steam Pump Village and told us Native Grill & Wings and Freddy’s Custard and Steakburgers are both well under construction for Spring openings. This will be Freddy’s 4th location in the metro Tucson region and Native’s 5th.
Lacey who has handled the 42 acres of retail at Steam Pump Village from inception says, “There are only two retail pads remaining and one of those is in escrow. The last remaining 60,000-square-foot pad is next to Basis School.”
“The Oracle Corridor is maturing as a trade area and filling in with more diversity,” Lacey said. Oro Valley is an upscale community with per capita income among the highest of any in Arizona, with a median household income of $71,628.
Continuing north along Oracle, the small community of Catalina is also benefiting from this growth.
Circle K Stores recently purchased a 2.25 acre parcel in Catalina for $795,000 ($8.11 PSF) to add a new store next to McDonald’s, Family Dollar and Canyon Bank, across the street from the new Tractor Supply, all newly built.
To learn more, see RED Comp #4584.
For more information, Heslop, Volk and Lacey can be reached at 520.326.3200.