The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



FINANCING NEWS
Printer-friendly Version   Email an Associate
Tucson Lifestyle Center is Acquired in $165 Mil Transaction

9/27/21

La Encantada, a 246.3k sf, open-air lifestyle center in Tucson, is under new ownership after being acquired by a group of local investors in a transaction valued at $165.25 mil ($671/sf). The deal was financed with a new loan for $102 mil.

Completed in 2003, La Encantada is 93% leased to some of the most recognized names in apparel, home goods, beauty and jewelry, including Crate & Barrel, Tiffany & Co, West Elm, Anthropologie, Athleta, Lululemon, Pottery Barn, Madewell, Warby Parker, Williams-Sonoma and Bluemercury. Additionally, the retail center is home to popular health, wellness and fitness options Barre 3, Core Health & Fitness, Fuchsia Spa and Laseraway, along with a variety of full service and specialty food and beverage retailers such as AJ’s Fine Foods, RA Sushi Bar and Restaurant, North Italia and Blanco Tacos + Tequila.

Situated near the base of the Santa Catalina Mountains in the highly sought-after Foothills Retail submarket, La Encantada is located at 2905 E. Skyline Dr. It sits at the intersection of Skyline Dr and Campbell and is surrounded by some of Tucson’s most prestigious, affluent and in-demand neighborhoods.

More than 35,000 residents earning an average annual household income of $120,785 live within a three-mile radius of the property. Additionally, the center is the premiere retail asset in Tucson and pulls from an extended trade area due to having significant market exclusive retailers and restaurants.

Patrick Dempsey with JLL represented the seller, Macerich Company. Jeremy Womack and Zane Coffman, also with JLL, arranged the fixed-rate, full-term, interest-only acquisition loan with an investment bank and financial services company.

“This asset is the crown jewel of Tucson retail,” Dempsey said. “Many stores at La Encantada are exclusive to the area, with a draw expanding the entire market. Lack of available land for new development in the Foothills Retail submarket makes La Encantada an irreplaceable property.”





Return to the Archive page
 
 
 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media