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May 27, 2024
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Tucson Retail Center Goes for $225/sf


Silverbell Plaza, a 97.5k sf retail center in Tucson, AZ, sold for $22 mil, or $225/sf. The property is located at 2480-2500 N. Silverbell Rd and 2106-2180 W. Grant Rd.

Situated on 8.45 acres, the property was 97% occupied at the close of escrow and is anchored by Walgreens and Safeway. Additional tenants include Anytime Fitness, Leslie’s Poolmart, PNC Bank, Wingstop, H&R Block, and 14 other local, regional and national businesses.

John Redfield and Alan Houston with SRS Real Estate Partners represented the seller, a private investor from Arizona. The buyer, a Washington-based private investor who was in a 1031 exchange, was repped by Gary Gallelli Jr. and Adam Rainey of Gallelli Real Estate.

Silverbell Plaza has more than 205,000 residents and 135,000 employees within a five-mile radius and new residential developments are in various stages of construction nearby. The center is also two miles from Pima Community College and four miles from downtown Tucson and the University of Arizona.

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