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?



TEXAS/SOUTHWEST NEWS
Printer-friendly Version   Email an Associate
DDR Closes $123 Mil AZ Retail Buy

8/23/12

In a major retail acquisition, DDR Corp purchased The Tucson Spectrum Shopping Center, a 709.8k sf regional center in Tucson, AZ, for $123.4 mil. The acquisition also included seven developable finished retail pads of both Phase I and Phase II of the regional retail center, located at Irvington Rd and I-19. We’re told that the price per sf for this deal works out to $177/sf.

Tucson Spectrum Phase I and Phase II, including Target and Home Depot, consists of over 1 msf of retail space situated on 122 acres of land. The center is home to many national and regional tenants such as Target, Home Depot, Ross, PetSmart, Marshalls, Michaels, J.C. Penney, Best Buy, Old Navy, Bed Bath & Beyond, Harkins Theatres and LA Fitness.

Jan Fincham and Patrick Dempsey, both principals with Lee & Associates Arizona, represented the sellers, an affiliate of Phoenix-based Barclay Group along with Creswin Properties Inc, a Canadian real estate company, and also procured the buyer. “The Tucson Spectrum is one of the largest and most successful open-air retail power shopping centers in the Western United States and serves Tucson, Southern Arizona and Northern Mexico,” said Fincham. “Many of the tenants in the Tucson Spectrum have some of the highest sales volumes in the country for their stores.”





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