Tucson shopping center sells for $18.4M

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

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

“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,” 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 bought by investors for $21.1 million. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David, with Institutional Property Advisors, represented the seller, Waahe Capital and the buyer, Vertical Street Ventures.

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The recently renovated building on the northwest corner of Campbell Avenue and Skyline Drive occupied by Charles Schwab was bought 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 bought 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, with Joseph Bernard Investment Real Estate, handled the sale.

407 Utah JGJ LLC bought 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 leased 60,000 square feet of industrial space at 6760 S. Lisa Frank Ave. from 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 shopping center, 8547 N. Silverbell Road, has two new tenants. Southern Arizona Spirit Squad LLC leased 1,158 square feet for a dance studio focused on pom, hip hop, jazz and technique classes. Daniel and Sarai Monreal, of the Door Church Marana, leased 1,708 square feet for a non-denominational Christian church. Craig Finfrock, with Commercial Retail Advisors, represented the landlord, Namaki Living Trust.