Catalina Foothills retail center sells for $18.4M
Phoenix Commercial Advisors facilitated the sale of Paloma Village Center, a high-profile, daily needs retail center in Catalina Foothills. The property, located on 4.49 acres on the southeast corner of Campbell Avenue and Skyline Drive in Tucson, Ariz., sold for a total of $18,400,000 or $480 per square foot.
The 38,347-square-foot center was 94 percent leased with a mix of internet-resistant tenants, including Starbucks, CVS Pharmacy, Fleming’s Steakhouse, and more. Chad Tiedeman and Danny Gardiner at Phoenix Commercial Advisors represented the seller in the transaction.
READ ALSO: Glendale, Tucson among 10 best cities to buy a second home
“Right across from the La Encantada, this property is centered in a high-traffic retail corridor,” said Chad Tiedeman. “Along with the location, the surrounding neighborhood, Catalina Foothills, provides the property with one of the most affluent consumer trade areas in the state, which helped attract the buyer. It was pleasure to work with this seller.”
Formed in 1994, Phoenix Commercial Advisors is a commercial real estate services company. The company specializes in retail commercial brokerage in Phoenix, Tucson, and surrounding Arizona communities, providing leasing services, tenant and landlord representation, investment sales and redevelopment services to local and national retailers and property investors. Offering the expertise of 250 combined years of experience, Phoenix Commercial Advisors is also member of ChainLinks Retail Advisors, the premier national retail platform connecting elite brokerage companies across the top 50 North American markets.