Shopping center

Longtime Tucson mall bought by local developers for $10 million | Subscriber

A central Tucson mall, more than 70 years old and once the location of department stores such as McLellan’s and Korby’s, has been sold.

Larsen Baker, through its subsidiary Rancho Developers LLC, purchased the 80,000 square foot Rancho Center, 3302-3416 E. Speedway, for $10 million.

Built in 1950, the mall is now home to Whole Foods Market, Bookmans Entertainment Exchange and Zia Records.

The new local owner has no immediate plans to alter the centre, which is around 80% occupied.

Larsen Baker was represented by his broker Isaac Figueroa, and the seller was represented by Debbie Heslop, with Volk Co.

Other recent real estate transactions include:

SS Enterprise Holdings LLC has purchased 87,000 square feet of land at the southwest corner of Oracle and Orange Grove roads from QuikTrip Corp. for $2.2 million to build a Super Star Car Wash. Jeramy Price, with Volk Co., represented the buyer.

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IXL Learning purchased a 5,708 square foot building at 5961 N. Oracle Road for $2 million to expand its Tucson office. Dave Volk, with Volk Co., represented the buyer and the seller was represented by Jon O’Shea, of Vast Commercial Real Estate Solutions.

Samaddar Family Trust purchased the 22 Owl Lodge Apartments in 2015 and 2027 E. Benson Highway from 1981 LLC for $1.5 million. Adam Dresher and Joseph Chaplik, with Joseph Bernard Investment Real Estate, represented the buyer.

Blockhouse Holdings LLC has purchased the 25-unit Dawn Mobile Home Park at 4141 E. Lee St. from Dawn MH Park LLC for $1 million. Allan Mendelsberg and Conrad Joey Martinez, along with Picor, handled the sale.

Tucson Electrical Joint Apprenticeship & Training Trust Fund purchased a 12,783 square foot building at 4650 N. Highway Drive for $485,000 to open an apprentice school. Rick Borane, along with Volk Co., represented the seller.

SPS+ Architects LLP has leased 3,028 square feet at 219 N. Third Ave. of Iron Horse LLC. Dave Volk, with Volk Co., represented the tenants and Andy Seleznov, with Picor, represented the landlord.

Fire Fitness Tucson LLC has leased 2,903 square feet of ground floor space at the AC Marriott Hotel, 151 E. Broadway, to open an F45 Fitness Center. Debbie Heslop, with Volk Co., represented the owner, Tucson 5C Hotel LLC.

Gols Technologies LLC has purchased 7,150 square feet of industrial space at 4765 S. Tennessee Place from BJB LLC for $425,000. Ron Zimmerman, along with Picor, represented the seller.

Contact journalist Gabriela Rico at [email protected]