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September 22, 2023
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Alturas Real Estate Funds Picks Up 93k sf AZ Shopping Center


Eagle, ID-based Alturas Real Estate Funds acquired Tucson Fiesta, a 93k sf shopping center asset in Tucson, AZ, for $14.6 mil ($157/sf). The seller was EVT Tucson Fiesta LLC.

The property consists of three retail anchor buildings at 4215, 4225 and 4235 N Oracle Rd, at the northwest corner of Oracle Rd and Limberlost Dr. The buildings are fully leased to three major retailers in the discount furniture, clothing, and golf industries.

Cushman & Wakefield’s Chris Hollenbeck represented the buyer in the transaction.

“Tucson Fiesta was a very attractive investment acquisition with a super tenancy of well-established, high-quality brands and a desirable location along heavily trafficked Oracle Rd and across the street from the premier dining and entertainment district of Tucson,” said Hollenbeck. “Buyers from across the country remain drawn to commercial properties in Arizona.”

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