River Heart. Picture courtesy of First Washington Realty
First Washington Realty has offered River Heart, a 107,508-square-foot retail middle in Tucson, Ariz. A personal investor bought the asset for $31.1 million.
JLL Capital Markets Managing Director Geoff Tranchina, Managing Director Patrick Dempsey and Affiliate Patrick Anthon brokered the transaction on behalf of the vendor.
The Class A property accomplished in 1986 is at present anchored by Complete Meals, Walgreens and Petco. Different tenants on the middle embrace Orange Concept Health, Tenet Healthcare and Childtime Childcare. The property was 100% leased on the time of the sale.
River Heart is positioned at 5555-5675 East River Street, within the Catalina Foothills submarket. The retail middle occupies a 9.9-acre website. Dempsey stated in ready remarks that the procuring middle has a very good location and a fantastic gross sales efficiency.
JLL Capital Markets additionally lately represented Kimco Realty Corp. in a $20.5 million transaction. Kimco offered Wind Level Procuring Heart, a 274,282-square-foot, grocery-anchored retail middle in Batavia, In poor health.
Kimco Realty Chief Operations Officer David Jamieson advised Business Property Government in ready remarks that the retail sector must constantly reinvent itself. Retailers are always investing in strategies which might assure they will meet shoppers’ expectations within the digital and bodily realms.
