TUCSON, Ariz.– Bourn Companies, LLC of Tucson (Don Bourn, managing member) a commercial real estate investment, development and services company, announced Tuesday the demolition of the north half of Wilmot Plaza, located at the northeast corner of Broadway Boulevard and Wilmot Road in Tucson. TJ Maxx, Christie’s Appliance, Brawley’s Restaurant and R&S Mattress will remain open as the vacant buildings are being taken down to the north and west of TJ Maxx.
Built in 1956, the property consists of relatively large buildings grouped along the northern and eastern edges of the site, two small, free-standing vacant buildings near the Broadway/Wilmot intersection, and a small building at the northwest corner of the site. The shopping center is zoned commercial C-1, except a strip of land on the north and east property boundary. Bourn Companies on behalf of the owner at the time rezoned 2.6 acres from R-1 to C-1 for redevelopment in 2012.
Tucson General Plan defines the area as a regional commercial activity center that includes Park Place Mall and several shopping centers along Broadway Blvd, a high density office and residential node northwest of the intersection and the St. Joseph’s Hospital and medical office complex. The General Plan also encourages redevelopment and expansion of strip commercial development to improve traffic flow, pedestrian circulation and safety, and streetscape quality, providing primary access from an arterial street away from residential uses.
The initial phase of redevelopment was made possible with support of the Vice Mayor Paul Cunningham's office and the San Rafael Neighborhood Association who wanted to see the property revitalized and returned as an amenity to the area, after years of vacancy and neglect.
Bourn acquired the property in July 2013, the center was 60-70% vacant when it sold to BP Wilmot Plaza, an investment group formed by Don Bourn, managing member.
Through redevelopment efforts Bourn intends to transform the 10 acre property into a first-class shopping center. In addition to the demolition, the buildings not being razed will undergo a complete remodel. The redevelopment of the property is estimated to last approximately one year.
While no new tenants are being announced at this time, Bourn is looking forward to bringing quality retailers to the high profile location to service the east side of Tucson.
Contact Alan Tanner or Brig Stevens at (520) 323-1005 for more information.
For related article see the Real Estate Daily News article Real Estate Facts, Rumors and half-truths