Cushman & Wakefield Completes Tucson Retail Deal

Senior Director Chris Hollenbeck and Associate Shane Carter represented the seller in the $2.5 transaction.
Santa Cruz Plaza. Image courtesy of Cushman & Wakefield

Cushman & Wakefield has brokered the sale of a portion of the 271,600-square-foot Santa Cruz Plaza shopping center in Tucson, Ariz. Blue Hat acquired the 7,200-square-foot multi-tenant building for $2.5 million, from a private investor. Senior Director Chris Hollenbeck and Associate Shane Carter represented the seller in the transaction, a Los Angeles-based investor. 

Located at 3782 S 16th Ave., the asset is just off Interstate 19 and within 2 miles of Interstate 10. Santa Cruz Plaza is 4 miles from the Tucson city center and 6 miles from Tucson International Airport. The outparcel shop building is 100 percent occupied by Subway, Cricket Wireless, Nationwide Vision and Affordable Dentures & Implants. These four tenants have been operating at this location between seven to 25 years. The larger property is anchored by Kroger and also hosts Burlington Coat Factory and Boot Barn, among other retailers. 

This month, another team of the same brokerage company facilitated the sale of a 46,552-square-foot retail property in Daleville, Va. The asset traded for $8 million.

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