TUCSON, ARIZONA – The Fiesta Mercado at 2920 – 2980 S 6^th Avenue in Tucson sold for $12,265,000 ($149 PSF). Anchored by a 47,835-square-foot Food City grocery store, a subsidiary of Basha’s which opened its first store in Arizona in 1932. The company now serves every county in Arizona with 130 stores under the brands of Bashas’, A.J.’s Fine Foods and Food City.

The 82,338 square foot Fiesta Mercado is located northwest of I-10 and 6^th Avenue and sits on 8.83 acres. The asset sold on June 29, 2022.

Rent-A-Center at 2930 S 6^th Ave is another long-term tenant that began with eight stores in 1986, Rent-A-Center (NASDAQ:RCII) is now the largest rent-to-own operator in the U.S. with an approximate 34% market share based on a store county of 2,863. Rent-A-Center has a market capitalization of ±$1.79 billion and annual revenue of ±$2.33 billion.

Other tenants in the center include:

• Casa Lee at 2960 S 6^th Ave is a clothing boutique specializing in both men’s and women’s clothing along with jewelry and other accessories. Casa Lee has a second location at the Fry’s Shopping Center at I-19 and Ajo Way.
• TitleMax of Arizona at 2960 S 6^th Ave Suite 120, has been providing the residents of South Tucson at this location since 2011 and offers fast cash for car and motorcycle loans.
• Jackson Hewitt Tax Service, Inc. (NYSE:JTX), at 2960 S 6^th Ave.,  is the second largest tax preparation service company in the United States, with over 6,800 company -owned offices in 49 states and DC and is a privately held company.
• Little Caesar’s Pizza, at 2980 S 6^th Ave, is the fourth largest pizza chain in America, was founded in 1959 in suburban Detroit by Mike and Marian Illitch, whose family still owns and operates the business. The company consists of approximately 2,850 company-owned and franchised locations around the U.S. and on 5 other continents.
• Casa de Nails, at 2980 S 6^th Ave, is a locally owned nail salon offering a full line of nail services, including manicures, pedicures and acrylics.
• Montanos Fashion, at 2970 S 6^th Ave, a highly acclaimed bridal store in the Tucson area that carries quality bridals dresses, formal dresses and supplies and a vast selection of tuxedos for men.
• T-Mobile at 2980 S 6^th Ave Suite 110, is a leading premium retailers provider of T-Mobile USA with 129 locations throughout the western states.
• El Coco Loco, at 2980 S 6^th Ave,  is a local Mexican food restaurant with a great reputation for authentic Mexican food serving the South Tucson area.
• Wingstop, at 2980 S 6^th Ave, is a national food chain that in the “flavor business” not just the wing business. Wingstop is the destination when you crave fresh wings and their famous sides.

Sean Lieb with Levrose Commercial Real Estate (Phoenix) represented the California seller, J3 Capital Fund I, LLC and partners. The buyer was a family trust from Lake Havasue City, AZ, Myung and Connie Chol Trustees.

To learn more see RED Comp #9964.

Growing Software Company Buys Kyrene Corporate Center

PHOENIX, ARIZONA – Kyrene Corporate Center, a 32,000-square-foot office property at 9280 S. Kyrene Rd. in Tempe,. The project was purchased to serve as the new headquarters of Handwrytten Software Co., a company that provides software and hardware to mimic human handwriting for use in marketing materials.

“Handwrytten needed a new home that would accommodate the company’s long-term growth,” says Michael Marsh with Colliers in Arizona. “I worked with this buyer for several years, developing and redefining long-term growth strategy and real estate plans. This property’s excellent location near Interstate 10 and existing cashflow made it an ideal choice.”

Marsh represented the buyer in the transaction. Michael Milic of Colliers in Arizona represented the seller.

Kyrene Corporate Center was constructed in 1998 and features 31,962 square feet of office space in a single-level building. The structure is situated on a 2.62-acre site. Located just ¾ mile east of Interstate 10, Kyrene Corporate Center is 10 minutes from Sky Harbor International Airport. The property benefits from proximity to nearby Arizona Grand Hotel, Arizona Mills Regional Mall, Ahwatukee Foothills Town Center and ASU Research park, as well as numerous golf courses, restaurants and entertainment venues.

TUCSON, Ariz.– The University of Arizona Center for Innovation (UACI) is thrilled to announce its win as the Soft Landings Designee of the Year which was announced at the 36^th International Conference on Business Incubation (ICBI36) hosted by the International Business Innovation Association (InBIA). 

UACI earned the InBIA Soft Landings designation in 2020 after proving its capability to meet the high-level and multi-faceted accommodations needed to ensure that international companies experience a supportive foundation when conducting business in a foreign country. UACI is one of only 50 entrepreneur support organizations (ESOs) that have earned the coveted Soft-Landing’s designation.

UACI won the award for providing a “soft landing” experience, meaning international businesses have the necessary accommodations for a smooth entry into the United States. UACI works with the businesses to introduce them to local community leaders, connect them to governmental officials, inform them of the resources and tools available through the University of Arizona, and go the extra mile to make their business a success.   

UACI is a leader in the entrepreneurial ecosystem, currently assisting 81 startups and housing four incubator outposts across Southern Arizona, with a new outpost opening soon at the UA Tech Park at The Bridges.

“UACI serves startups from all over the globe. Whether you’re from our backyard or across an ocean UACI is here to empower your business and help you scale up,” says UACI Executive Director, Eric Smith, “We’ve been serving a strong vibrant community of innovators for a long time now, and we are eager to continue sharing knowledge and supporting startups wherever their location.” 

The UACI Soft Landings Program has already impacted hundreds of global entrepreneurs and served 20 international startups. Since 2019, four international companies who have worked with UACI have moved to Southern Arizona or setup a United States subsidiary in the region.  

The ICBI36 conference, which was held in Atlanta, Georgia, brought together entrepreneur support professionals from across the world to connect, explore new strategies, share best practices, learn about current trends, gather resources, and celebrate successes with awards. Peer-led sessions focused on relevant topics, expert keynotes shared inspiring insights, and local ecosystem leaders showcased their programs at the conference. UACI was an active contributor to the conference serving on three panel sessions, attending executive board meetings, and moderating the keynote.