Tucson Health Oriented Neighborhood Center Fetches $24.4 Million

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TUCSON, Arizona — Epic Real Estate Partners of Austin, Texas purchased Rillito Crossing Marketplace, a health oriented, grocery and fitness-anchored neighborhood shopping center in Tucson.

Anchored by a newly renovated Sprouts Farmers Market and LA Fitness, Rillito Crossing Marketplace totals 96,418-square- feet and is located at 4202-4282 North 1st Avenue in Tucson, at the northeast corner of North 1st Avenue and East Limberlost Drive.

The asset sold for $24.4 million ($253 PSF).

Built in 2008, the center is positioned in one of Tucson’s most dynamic retail corridor and serves a trade area stretching north to the affluent Catalina Foothills and south to the University of Arizona campus.

This is Epic’s second acqusition in Tucson metro, it also owns the Basha’s anchored, Ventana Village at Sunrise and Kolb in the Tucson Foothills.

Epic’s purchase of Rillito Crossing Marketplace also includes development of up to 28,000-square-feet of additional space on the one remaining pad on the southside of LA Fitness.

Dave Hammack and Greg Furrier of Cushman & Wakefield | Picor represented the seller, The Krausz Companies of San Francisco, CA.

Hammack and Furrier should be reached at 520.748.7100, for more information.

To learn more, see RED Comp #7328.

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