Shopping center

Tucson mall sells for $18.4 million | Subscriber

A mall in the Catalina Foothills area has been bought by investors for $18.4 million. The 33,347 square foot Paloma Village Center, at the southeast corner of Skyline Drive and Campbell Avenue, sits on 4.49 acres.

Tenants include Fleming’s Steakhouse, CVS, Starbucks, and several smaller retail and service businesses. Chad Tiedeman and Danny Gardiner, along with Phoenix Commercial Advisors, represented the seller.

“In addition to the location, the surrounding neighborhood, Catalina Foothills, provides the property with one of the most affluent consumer shopping areas in the state, which helped attract the buyer,” Tiedeman said.

No changes to the center have been announced.

Other local real estate transactions include:

Equinox on Prince, a 114-unit complex at 1625 E. Prince Road, was purchased by investors for $21.1 million. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David, along with Institutional Property Advisors, represented the seller, Waahe Capital and the buyer, Vertical Street Ventures.

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The newly renovated building on the northwest corner of Campbell Avenue and Skyline Drive occupied by Charles Schwab was purchased by 6401 N. Campbell JV LLC for $5.8 million. The seller, Skyline Encantada Investors LLC, was represented by Isaac Figueroa with Larsen Baker.

ZFI LLC and Caneel Investments AZ LLC have purchased the 24-unit Vista del Sol complex at 3810 E. Monte Vista Drive from Mantel Properties LLC for $2 million. Joseph Chaplik and Joe Boyle, along with Joseph Bernard Investment Real Estate, managed the sale.

407 Utah JGJ LLC has purchased a 6-unit apartment complex at 407 W. Utah St. from Guillermo Properties LLC for $925,000. Chris Tsighis, with Coldwell Banker, represented the seller, and Rick Horst, with Keller Williams Realty, represented the buyer.

Ralph’s Moving and Storage has leased 60,000 square feet of industrial space at 6760 S. Lisa Frank Ave. of Greenbean Investments LLC. Robert Glaser, with Picor, represented the landlord, and Mark Irvin, with Mark Irvin Commercial Real Estate Services, represented the tenant.

The Silverbell Center mall, 8547 N. Silverbell Road, has two new tenants. Southern Arizona Spirit Squad LLC has leased 1,158 square feet for a dance studio focused on cheerleading, hip hop, jazz and technique lessons. Daniel and Sarai Monreal of Door Church Marana rented 1,708 square feet for a nondenominational Christian church. Craig Finfrock of Commercial Retail Advisors represented the owner, Namaki Living Trust.

Information for Tucson Real Estate is compiled from Pima County Recorder’s Office and Brokerage records. Send information to Gabriela Rico, [email protected]