Friedman Integrated Real Estate Solutions, in a joint venture with its institutional equity partner, recently purchased Plaza Vista Mall, a 227,110 square foot retail power center located at 629 Arizona State Highway 90, in Sierra Vista, Arizona.
The center, located at the northeast corner of State Highway 90 and Charleston Road, is anchored by Cal Ranch and Hobby Lobby and is 95.8% occupied. It boasts a tenant list that consists almost entirely of credit tenants such as Marshalls, Dollar Tree, Cato, Payless Shoes, Ross Dress For Less and Sally Beauty. This intersection is also home to a brand new Walmart and Lowes and within close proximity to Target Department Stores, Fry’s Grocery, and Staples. Plaza Vista Mall is perfectly situated to serve residents of nearby Fort Huachuca, which is a major U.S. Army installation and intelligence headquarters.
The acquisition of Plaza Vista Mall confirms Friedman’s commitment to growing their presence across the state of Arizona as they currently lease and manage numerous multi-family, warehouse, office and retail properties totaling over 600,000 square feet in the Phoenix and Tucson areas. Friedman’s portfolio includes Plaza Campana, Tri Pointe Plaza, and Catalina Village in Tucson, along with Acacia Creek Village and Vista Commons in the Phoenix area. Clients include LNR, C-III, Quicken Loans, Prize Logic, NCU and others.