Tucson’s Randolph Plaza Included in $108.7 Million Arizona Grocery Portfolio Sale

TUCSON / PHOENIX (Nov. 10, 2026) –  JLL Capital Markets has announced the $108.7 million sale of an Arizona Grocery Portfolio, a seven-property, 422,949-square-foot grocery-anchored retail portfolio located across Phoenix and Tucson, Arizona.

JLL represented the seller, A&C Properties Inc., in the transaction. 11North Partners acquired the portfolio. Working on behalf of the new owner, JLL also arranged $66.36 million in acquisition financing through a leading insurance company.

The portfolio includes Randolph Plaza in Tucson; Gilbert Fiesta Marketplace, Shops at Gilbert Fiesta and Township Plaza in Gilbert; Riggs Marketplace in Chandler; Lindsay Marketplace in Mesa; and Tatum Plaza in Cave Creek.

The Tucson property, Randolph Plaza, is located along East 22nd Street east of Alvernon Way. The center sold to 11North CP Randolph Plaza Owner LLC for $25,523,365, according to Pima County sales records and closed October 30, 2026.

Built in 1972, Randolph Plaza contains approximately 174,370 square feet on 17.35 acres, with the allocated purchase price equating to approximately $146.37 per square foot. Key tenants include Fry’s Food, Goodwill, Dollar Tree and Peter Piper Pizza. The acquisition encompasses three parcels zoned C-2 for general commercial uses.

A&C Properties previously acquired Randolph Plaza for $20.5 million in 2022, as reported by Real Estate Daily News.

The portfolio features strategic positioning along high-traffic corridors throughout multiple submarkets in both metropolitan areas. The seven properties benefit from limited retail supply in their surrounding trade areas and feature below-market rents that provide significant value-creation opportunities. Currently operating at 96% occupancy, the portfolio is anchored by Fry’s Food & Drug (NYSE) and features a diverse tenant mix that includes daily needs and necessity-based retailers serving each respective community.

The properties deliver strong cash flow through their grocery-anchored format while offering investors mark-to-market opportunities through tenant curation and lease renewals. The Phoenix and Tucson markets continue to attract retail investment capital due to population growth, favorable business climates and strong consumer spending patterns. This acquisition represents 11North Partners’ inaugural investment in Arizona and expands the buyer’s necessity-based retail platform into its eighth state.

The JLL Capital Markets Investment Sales and Advisory team was led by Managing Director Patrick Dempsey, Director Tess Berghoff and Analyst Ross Jorgensen. The JLL Capital Markets Debt Advisory team was led by Director Jarrod Howard.

“A&C Properties Inc. assembled a high-quality grocery-anchored portfolio positioned in submarkets with limited retail supply and strong traffic patterns,” Dempsey said. “11North Partners recognized the long-term value in these well-located assets and the opportunity to enhance returns through thoughtful leasing strategies and mark-to-market adjustments.”

For additional information, contact Patrick Dempsey at 602-648-8709 or Tess Berghoff at 424-294-3448.

For the Tucson transaction, see RED Comp #12790.