Lee & Associates Facilitates Sale of Tucson Shopping Center for $46M

TUCSON, CA – February 25, 2015 – (RealEstateRama) — Lee & Associates is pleased to announce the sale of the Casas Adobes Plaza, an upscale retail shopping center in Tucson for $46 Million.

Casas Adobes Plaza is an iconic 91,318 SF, grocery-anchored specialty shopping center, strategically located at the Southwest corner of Ina and Oracle roads in an affl uent area of north Tucson. It is anchored by a new Whole Foods that opened this past August.

Jan Fincham and Patrick Dempsey, principals with Lee & Associates in Phoenix, facilitated the transaction on behalf of their Institutional client, GRI Investors of Bethesda, Maryland. The seller was Casas Adobes Plaza LLC of Tucson, a private investment group.

“This acquisition was an opportunity for our Institutional client to acquire a Class A infi ll, upscale grocery and specialty center in an affl uent area in the Catalina Foothills of north Tucson Arizona,” said Dempsey.

Casas Adobes Plaza features national, regional and specialty tenants such as Whole Foods, Starbuck’s, Chipotle, Pei Wei Asian Diner, Jos. A Bank Clothier, Chico’s, Sauce, Loop Jean Company and a Wildfl ower restaurant.

For more information, contact:

Pat Dempsey, Principal
602.954.3772, pdempsey (at) leearizona (dot) com
Jan Fincham, Principal
602.954.3754, jfi ncham (at) leearizona (dot) com