A Home Depot anchored retail center at Oracle and Wetmore in Tucson was sold for $25.5 million, a $12.5 million loss from its last sale. The Home Depot was not included in the sale. The same project, without the Home Depot, sold in February of 2021 for $38.025 million.
The 90,456-leasable-square-foot inline shops that sold was constructed in 2005 and was 98% occupied at the time of sale, with such tenants as PetSmart, World Market, JoAnn Fabrics and Crafts, and Ulta Beauty.
The buyer, Acacia-Tucson, is a subsidiary of Acacia Real Estate Group in Newport Beach, CA (David Pittman, managing partner) and was self-represented in the transaction. The seller was RJR Vacaville.
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Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate
Read MoreConnect CREA Home Depot anchored retail center at Oracle and Wetmore in Tucson was sold for $25.5 million, a $12.5 million loss from its last sale. The Home Depot was not included in the sale. The same project, without the Home Depot, sold in February of 2021 for $38.025 million. The 90,456-leasable-square-foot inline shops that sold …
The post Tucson Power Center Sells for $25.5M appeared first on Connect CRE.