Luxury Four-Building Tucson’s ‘Plaza Colonial’ Offers Mix of Upscale Retailers, Restaurants, and a Fine Art Gallery Aligned with a Roster of Top-Tier Professional Office Tenants; Gantry Continues to See Success Sourcing New Loans for Office Assets in a Challenging Cycle

TUCSON, Ariz. (June 27, 2025) – Gantry, the largest independent commercial mortgage banking firm in the United States, has secured a $16.7 million permanent loan to refinance Plaza Colonial, a premier Class A mixed-use property featuring upscale office and retail space in Tucson’s Catalina Foothills.

Located at 2840–2890 E. Skyline Drive and 6375 N. Campbell Avenue, Plaza Colonial comprises four luxury buildings, totaling 83,869 rentable square feet, arranged around a landscaped, art-filled courtyard with panoramic views of the Catalina Mountains. The project features a blend of fine art galleries, luxury retailers, and gourmet restaurants, alongside professional office tenants that anchor its Class A designation.

Patrick Barkley, Principal, and Chad Metzger, Senior Associate, of Gantry’s Phoenix office represented the borrower, a private real estate investor. The five-year, fixed-rate loan was secured through an institutional balance sheet lender and features full-term interest-only payments. Gantry will also provide loan servicing.

“While the office sector continues to face headwinds in the current market cycle, Gantry successfully secured financing through a lender comfortable with underwriting new office exposure,” said Barkley. “Plaza Colonial stands out as one of metro Tucson’s premier professional and retail destinations. Despite underwriting complexities due to the property’s mixed-use profile, our early engagement strategy and broad lender outreach helped us identify a financing partner aligned with the asset’s strong fundamentals.”

Plaza Colonial’s prime foothills location—at the high-traffic intersection of Skyline Drive and Campbell Avenue—has long been considered one of Tucson’s most desirable commercial corridors. Its tenant mix and Class A finishes appeal to both discerning shoppers and professional service providers seeking premier office space.

The deal highlights Gantry’s ongoing success navigating challenging capital markets by leveraging long-standing lender relationships and structured financing solutions, especially for mixed-use properties that blend retail, office, and specialty uses.

TUCSON, ARIZONA, March 1, 2023 – The former Tucson call center at 2425 E Medina Rd in the Median Business Park II of Tucson sold recently for $3.74 million ($74 PSF).  Located adjacent to the Tucson International Airport, the 46,709 rentable square-foot, steel construction, building sits on 4.52-acres and has heavy 3-phase power, dock platform and full HVAC cooling.

The building that had been used as a call center for many years will now be repurposed back to its original industrial use for the buyer, ZB Holdings of Dallas, Texas (Zane Butter, manager) as a Winston Water Cooler facility, a full-service plumbing and HVAC supplier.  With locations all over Texas, as well as in Las Vegas, NV, and Phoenix, AZ; this will be the company’s first store in Tucson.

Winston Water Cooler, LTD. was founded in Dallas in 1963. Over the last 50 years, the family of Winston Water Cooler has grown and evolved into one of the fastest developing wholesale plumbing suppliers and HVAC online suppliers in the Southwest.

Each of its 16 independent branches has vast, diverse inventories of quality plumbing, HVAC, and piping parts, to meet the in-person needs of clients. A collection of companies in the tri-state area provide supplementary services and products such as kitchen and bath fixtures for both commercial and residential use, kitchen appliances, decorative hardware and pre-cut fabrication for clients who prefer to see items before purchasing them on its E-commerce site.

Jesse Blum and Alex Demeroutis with Cushman & Wakerfield | PICOR represented the seller, Descanso Medical Plaza, LLC of Sierra Mardre, CA and Max Schumacher with Rein & Grossoehme Commercial Real Estate in Phoenix represented the buyer.

For more information, Blum should be reached at 520.546.2772, Demeroutis is at 520.546.2773 and Schumacher can be contacted at 480.214.9400.

To learn more, see RED Comps #10481.

Highlighted this week is 5,200-square-feet of industrial space leased to Titan Laboratories in Valencia Business Park handled by Stephen D. Cohen, Principal, and Industrial Specialist with Cushman & Wakefield | PICOR and Rick Borane of VOLK Company.

The following leases have been submitted to the Real Estate Daily News for the Tucson Lease Report from January 11-15, 2021.

INDUSTRIAL – 2175 EAST VALENCIA RD., STE. 185, TUCSON
Rick Borane of VOLK Company represented the tenant, Titan Laboratories LLC, in a lease with RAGA LLC as landlord for approximately 5,200-square-feet at 2175 East Valencia Road #185 within the Valencia Business Park for use as a testing laboratory. The landlord was represented by Stephen D. Cohen, Principal, and Industrial Specialist with Cushman & Wakefield | PICOR in this transaction.

RETAIL – 8995 E TANQUE VERDE RD., TUCSON
Craig Finfrock of Commercial Retail Advisors, LLC represented the Landlord, 8995 Tanque Verde, LLC and the Tenant, Viva Burrito in a lease for 5,159-square-feet at 8995 E. Tanque Verde Road in Tucson, AZ in the Bear Canyon Shopping Center located at the northwest corner of Tanque Verde Road and Catalina Highway. Viva Burrito is a family-owned business serving authentic Mexican food. This will be Viva Burrito’s 9^th restaurant in the Tucson area. Viva Burrito has 3 other locations in California and Denver. The new restaurant is expected to open in June 2021.

OFFICE – 3640 E FORT LOWELL RD., TUCSON
VOLK Company agents Jeramy Price, Joey Castillo and Leah Bogen handled a lease between Jorgen and Cynthia Hansen Revocable Trust et al as landlord and Sugar Me Love, LLC as tenant for approximately 1,910-square-feet at 3640 East Fort Lowell Road. The tenant will use the space for naturopathic health services.

RETAIL – 3553 S 12^TH AVE., TUCSON
Jeramy Price and Joey Castillo of VOLK Company represented the tenant, Smokin Moe’s, LLC, in the lease of approximately 1,200-square-feet of space located at 3553 South 12^th Avenue within Plaza Azteca from NAI Investments, Inc. for a use as a smoke shop. The landlord was represented by Denisse Angulo of Cushman and Wakefield | PICOR.

RETAIL – 6741 N THORNYDALE RD., STE 131, MARANA
VOLK Company agents Brenna Lacey, Jeramy Price and Joey Castillo represented the landlord, SCG-Northpointe, LLC, in a lease with Iron Doors Arizona, LLC as tenant for approximately 1,200-square-feet at 6741 North Thornydale, Suite 131 within NorthPointe Village.

RETAIL – NEC CORTARO FARMS ROAD & I-10, MARANA
Brenna Lacey and Jeramy Price of VOLK Company and Chuck Wells of Kidder Matthews handled a lease between Cortaro Commercial JV, LLC as landlord and Tucson Clips, LLC as tenant for approximately 1,000-square-feet of space located in the development at the northeast corner of Cortaro Farms Road and Interstate 10. The tenant will use the premises for a Great Clips salon.

RETAIL – 8601 E GOLF LINKS RD., TUCSON
Jeramy Price of VOLK Company handled a lease between ONETEN REI 2, LLC as Landlord and Geyer-Yunkherr, LLC as tenant for an approximately 800-square-foot building to be constructed at 8601 East Golf Links Road.

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