VEREIT Buys Retail Pad at Houghton Town Center for $10.9 Million


TUCSON, Arizona — VEREIT, Inc. (NYSE:VER) (Glenn Rufrano, Chief Executive Officer), a real estate investment trust (REIT), purchased a 56,000-square-foot retail pad at Houghton Town Center in Tucson, Arizona for $10.9 million ($195 PSF).

The building, located to the east of Super Walmart, was built for and fully occupied by Ross Dress for Less®, T.J. Maxx® and Petco® that opened in 2017 at 9236 – 9250 S Houghton Road in Tucson’s Vail area.

The Ryan Companies US, Inc. (John Strittmatter, Chairman/Southwest) was the seller, developer and general contractor of this retail project at Houghton Town Center and purchased the 6.13 acres for $1.98 million ($7.39PSF) a year ago. See Real Estate Daily News Houghton Town Center Expands Footprint

Ryan Companies US, Inc. is a 3rd generation, family-owned national developer, designer, capital investment consultant, builder and real estate manager specializing in fully integrated solutions for over 75 years.

To learn more, see RED Comp #5457.