A central Tucson shopping center, developed in 1985, has been sold for $3.4 million.
The Grant & Alvernon Shopping Center, at the southeast corner of Grant Road and Alvernon Way, was bought by Bob Camino Principal LLC, Pima County Recorderβs data shows.
The Vasa Fitness building at the site was not included in the sale.
The 25,365-square-foot shopping center is about 73% occupied.
Craig Finfrock, of Commercial Retail Advisors, represented the seller, Grant & Alvernon Realty Trust. Broker Bob Zhang represented the buyer.
Retail analysts say interest in shopping centers has grown as developers see the potential to build drive-thru restaurants on pad sites on the large parking lots along roads with heavy traffic, which the Grant & Alvernon site has plenty.
No plans have yet been announced.
Other local commercial transactions include:
- L & R Investments AZ LLC bought the eight-unit Santa Rosa Apartments at 1623-1641 N. Santa Rosa Ave. from North Santa Rosa LLC for $1.4 million. Allan Mendelsberg and Joey Martinez, with Picor, represented both parties.
- PK Wetmore LLC, doing business asΒ Unconventional Manufacturing Solutions, bought 6,878 square feet on .68 acres of land at 1550 W. Wetmore Road from Robbins Plaza Wetmore LLC for $1.3 million. Paul Hooker and Andrew Keim, with Picor, represented the buyer. John Buette, of Boss Capital Development, represented the seller.
- Wildcat Smoke Shop Inc. bought 9,363 square feet of retail space at 1028, 1034, 1040, 1046 E. Broadway and 18, 70 & 110 S. Fremont Ave. from Belman Brothers LLC for $1.1 million. Rob Tomlinson, with Picor, represented the seller. Mark Hays, with Tierra Antigua Realty, represented the buyer.
- Behavioral health provider Blossom Living LLC leased 14,027 square feet at 5441 E. 22nd St. The landlord, Larsen Baker, was represented by its broker Isaac Figueroa.
- La Botana Tacos leased 2,519 square feet in Tucson Place, 565 E. Wetmore Road, from Larsen Baker to relocate its current location at First Avenue and Wetmore Road. The former Applebeeβs location was split into two shops, with Churchβs Chicken occupying one side. Craig Finfrock, with Commercial Retail Advisors, represented the tenant and Isaac Figueroa, with Larsen Baker, represented the landlord, Tucson Place Investors LLC.
- Topchiy Blooms LLC leased 1,263 square feet of office space at 5557 E. Grant Road from LLJ Holdings LLLP. Molly Gilbert and Ryan McGregor, with Picor, represented the landlord.
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