Orange Grove Village Shopping Center has been sold to California investors who plan a major renovation.
The center is on the northwest corner of West Orange Grove and North Oracle roads.
After 55 years of ownership, Tucson based 4-D Properties sold the 19,154-square-foot retail strip center.
Records with the Pima County Recorder’s Office list a sale price of $2.7 million.
Stickley Design Group is working on the renovation drawings. Chapman Management Group has been hired as the property manager and Commercial Retail Advisors will continue in its capacity as the project leasing agent.
Craig Finfrock of Commercial Retail Advisors LLC represented both the seller and the buyer, S1K LLC.
Other recent commercial transactions include:
- Palm Canyon Apartment Homes, 2255 W. Orange Grove Road, sold to Seattle-based Thayer Manca Residential for $40.3 million. Art Wadlund and Clint Wadlund, of Berkadia’s Tucson office, represented the seller, Houston-based Domain Communities.
- Five apartment complexes were sold in a $5.2 million package. Townhouse East, 3601 E. Second St.; Swan Crest, 1060 N. Swan Road; Santa Fe Casitas, 1435-1445 E. Fort Lowell Road; Cielo Azul, 3701 E. Fairmount St.; and Alta Vista, 3201 E. Alta Vista St. were bought by private investors. James K. Crawley and Hamid Panahi with Marcus & Millichap’s Tucson office handled the sale.
- The Family Dollar store at 208 W. Irvington Road was bought by investors for $1.6 million. Zack House, Chris Lind, Jamie Medress and Mark Ruble, with Marcus & Millichap’s Phoenix office, handled the sale.
- Adept Healthcare Management leased 5,292 square feet at Swan Office Property, 1636 N. Swan Road, from K Nardelli Building LLC. Ian Stuart and Bruce Suppes, with CBRE, represented the landlord.