Sahuarita Power Center Sells for $12.23 Million

Cole Valley Partners (Zach Bonsell, managing partner) acquired the Sahuarita Power Center located at the I-19 and Duval Mine Rd Interchange in Sahuarita, AZ for $12,225,000 ($92 PSF).

Sahuarita Plaza Shopping Center is a 132,300-square-foot gross leasable retail power center anchored by Ross, Big Lots, PETCO, Jo-Ann Fabric and Crafts, and Ace Hardware. Big Lots and Ross occupied the former Walmart building after Walmart moved to the adjacent property, building a new Supercenter in 2005. PETCO, Ace Hardware and Jo-Ann Fabric and Crafts now occupy the former Bashas’ building. Bashas’ closed the grocery store in 2009 during the company’s bankruptcy. The shopping center is the largest center in the area which serves the communities of Sahuarita and Green Valley.

The four buildings have addresses from 18705 – 18805 South I-19 Frontage Road in Sahuarita. The center sold 83% occupied, with 22,610-square-feet available in three spaces.

Cole Valley Partners (“CVP”) is a boutique real estate investment, development and consulting firm based in San Francisco, California. The firm’s objective is to acquire, develop and operate value – add middle market commercial properties for private equity partners. With a focus on investments in the Western United States and a product-class target of retail. This is the first investment for CVP in the Tucson metro area.

Greg Furrier, Principal and Retail Specialist with Cushman & Wakefield | PICOR, along with Greg Valladao, Senior Managing Director of Cushman & Wakefield Arizona handled the transaction for investor and seller, Sun Life Assurance Company of Canada.

To learn more Furrier can be contacted at 520.546.2735