Tucson's oldest shopping center outside of Downtown, Broadway Village, has a new owner.
CRI Broadway Village Partners LLC, an investment partnership including brothers Craig and Randall Finfrock and the DeConcini family, purchased the shopping center for about $5 million this week from its original owners, the Murphey family.
The red-brick Spanish Colonial Revival-style center, at Broadway and Country Club Road, was built by Catalina Foothills developers John and Helen Murphey.
Larger tenants include Elle, Wine Country Restaurant; and Southwest furnishings store Zocalo.
"It's a landmark. It's an icon," said Randy Finfrock, who helped spearhead the deal. "We were fortunate to be in a position to buy this."
Finfrock said the partners hope to own the complex for decades to come. The partnership's goal is to restore the property over the next few years and possibly expand it in the future, he said.
People are also reading…
Mike Sarikas, trustee for the Robert C. Murphey Trust, named for John and Helen's son, said the property stayed in the family for decades partly because of "emotional attachment."
But now, the surviving members felt that the new owners might be able to take better care of the retail center, he said.
"Our expectations are they will be good stewards of the property," he said.
By the numbers
Broadway Village
$5 million
Sale price
37,000
Approximate square footage
1939
Year first section built
Meet the Murpheys
• Landowners John and Helen Murphey were pioneering developers in the Catalina Foothills.
Among their projects were the Catalina Foothills Estates subdivision and St. Philip's in the Hills Episcopal Church.