TUCSON, Arizona – Orange Grove Village Shopping Center has been sold to a California based investor for $2.725 million ($142 PSF) according to public records. After 55 years of ownership, Tucson-based 4-D Properties sold the 19,154-square-foot retail strip center that was built in 1964 and 1972 on 2.74 acres at the northwest cornet of Oracle and Orange Grove Roads in Tucson.
The new owner, S1K, LLC, has plans to do a major renovation of Orange Grove Village. Stickley Design Group of Tucson is working on the renovation drawings. Chapman Management Group has been hired as the property manager and Commercial Retail Advisors will continue in its capacity as the project leasing agent.
Craig Finfrock of Commercial Retail Advisors, LLC represented both the seller and the buyer in this transaction. Commercial Retail Advisors, founded in 2001, specializes in the leasing and sales of shopping centers and retailer tenant representation throughout southern Arizona. For more information, please contact Craig Finfrock of Commercial Retail Advisors at (520) 290-3200 or visit their website at www.cradvisorsllc.com.