Tucson Real Estate: South Tucson Food City plaza sold to investors
- Updated
Fiesta Mercado, anchored by Food City in South Tucson, fetched $7.75 million.
- Gabriela Rico
Fiesta Mercado in South Tucson has been sold for $7.75 million.
Anchored by Food City, the shopping plaza’s tenants include Rent-A-Center, Kool Smiles, Wingstop and Little Caesars.
Records from the Pima County Recorder’s Office show the sale was to a group of LLCs.
It has more than 82,000 square feet on 8-plus acres.
Located on the corner of South Sixth Avenue and West 40th Street, more than 100,000 vehicles pass by the plaza daily.
Ganesh Janyavula, vice president of Oakmead Village LLC, one of the new owners, said the property was brought to their attention by Phoenix Commercial Advisors, who represented both parties in the sale.
“A mix of ethnic nature, size of the center, tenant mix (and) commercial elements attracted us to this center,” Janyavula said. “The center has a current occupancy of 82 percent, which gives us an opportunity to add businesses / tenants.
“Even before we purchased, we got some ideas about how we can improve the environment of the center … that would enhance the experience of the customers.”
City Manager Sixto Molina said the new owners are ahead of the pack of interested South Tucson investors.
A recent meeting with investors and builders generated a lot of interest in developing projects in South Tucson, given its proximity to Interstate 10 and to downtown Tucson.
“It’s time to change the image we had,” Molina said. “We’re definitely open for business.”
- Gabriela Rico
EQ Scott and Congress LLC bought a 27,000-square-foot building and 12,072 square feet of land at 63 E. Congress St. for $2.2 million. Rick Borane and Dave Hammack, of Volk Co., represented the buyer, and Roy Drachman, of Roy Drachman Realty, represented the seller, Sixty-Three Building LLC.
- Gabriela Rico
Tincup Properties LLC bought a 7,808-square-foot office building at 100-126 W. 37th St. from the Tucson Urban League for $500,000. Ron Zimmerman, with Picor, represented the seller.
- Gabriela Rico
- Updated
William and Susan Daugherty bought a 1,900-square-foot office building at 7479 E. Tanque Verde Road from Albatross Enterprise LLC for $475,000. The building is leased to Title Security Agency of Arizona. Stephen D. Cohen and Russell W. Hall, with Picor, represented the seller. Tony Reed and Chris Itule, with Long Realty Co., represented the buyer.
- Gabriela Rico
- Updated
Esquera Development LLC bought a 2,400-square-foot office building at 810 E. Fort Lowell Road from Jimmy Dale Pyland for $315,000. Brandon Rodgers, with Picor, represented the seller. Picor’s Rob Glaser and Joshua Brown, with Jackson & Cooksey, represented the buyer.
- Gabriela Rico
- Updated
Nick’s Enterprises LLC, doing business as Nick’s Sari-Sari Store, a Filipino grocery store and restaurant, bought the 3,000-square-foot building and 23,868 square feet of land at 2001 S. Craycroft Road from Craycroft Properties LLC. for $280,000. Frank Arrotta, of Tucson Realty & Trust Co., represented both parties.
- Gabriela Rico
- Updated
Concord General Contracting leased 4,048 square feet of office space at 5828 N. Oracle Road. Jeff Casper, of CBRE, represented the tenant, and Mark Irvin, of Mark Irvin Commercial Real Estate Services, represented the landlord, Dr. Shara Pahdi.
- Gabriela Rico
- Updated
Paleteria Y Neveria La Michoacana LLC leased 1,010 square feet at 3774 S. Sixth Ave. for an ice cream shop. Jeramy Price, of Volk Co., represented the landlord, Ajo 6 LLC.
- Gabriela Rico
Fiesta Mercado in South Tucson has been sold for $7.75 million.
Anchored by Food City, the shopping plaza’s tenants include Rent-A-Center, Kool Smiles, Wingstop and Little Caesars.
Records from the Pima County Recorder’s Office show the sale was to a group of LLCs.
It has more than 82,000 square feet on 8-plus acres.
Located on the corner of South Sixth Avenue and West 40th Street, more than 100,000 vehicles pass by the plaza daily.
Ganesh Janyavula, vice president of Oakmead Village LLC, one of the new owners, said the property was brought to their attention by Phoenix Commercial Advisors, who represented both parties in the sale.
“A mix of ethnic nature, size of the center, tenant mix (and) commercial elements attracted us to this center,” Janyavula said. “The center has a current occupancy of 82 percent, which gives us an opportunity to add businesses / tenants.
“Even before we purchased, we got some ideas about how we can improve the environment of the center … that would enhance the experience of the customers.”
City Manager Sixto Molina said the new owners are ahead of the pack of interested South Tucson investors.
A recent meeting with investors and builders generated a lot of interest in developing projects in South Tucson, given its proximity to Interstate 10 and to downtown Tucson.
“It’s time to change the image we had,” Molina said. “We’re definitely open for business.”
- Gabriela Rico
EQ Scott and Congress LLC bought a 27,000-square-foot building and 12,072 square feet of land at 63 E. Congress St. for $2.2 million. Rick Borane and Dave Hammack, of Volk Co., represented the buyer, and Roy Drachman, of Roy Drachman Realty, represented the seller, Sixty-Three Building LLC.
- Gabriela Rico
Tincup Properties LLC bought a 7,808-square-foot office building at 100-126 W. 37th St. from the Tucson Urban League for $500,000. Ron Zimmerman, with Picor, represented the seller.
- Gabriela Rico
William and Susan Daugherty bought a 1,900-square-foot office building at 7479 E. Tanque Verde Road from Albatross Enterprise LLC for $475,000. The building is leased to Title Security Agency of Arizona. Stephen D. Cohen and Russell W. Hall, with Picor, represented the seller. Tony Reed and Chris Itule, with Long Realty Co., represented the buyer.
- Gabriela Rico
Esquera Development LLC bought a 2,400-square-foot office building at 810 E. Fort Lowell Road from Jimmy Dale Pyland for $315,000. Brandon Rodgers, with Picor, represented the seller. Picor’s Rob Glaser and Joshua Brown, with Jackson & Cooksey, represented the buyer.
- Gabriela Rico
Nick’s Enterprises LLC, doing business as Nick’s Sari-Sari Store, a Filipino grocery store and restaurant, bought the 3,000-square-foot building and 23,868 square feet of land at 2001 S. Craycroft Road from Craycroft Properties LLC. for $280,000. Frank Arrotta, of Tucson Realty & Trust Co., represented both parties.
- Gabriela Rico
Concord General Contracting leased 4,048 square feet of office space at 5828 N. Oracle Road. Jeff Casper, of CBRE, represented the tenant, and Mark Irvin, of Mark Irvin Commercial Real Estate Services, represented the landlord, Dr. Shara Pahdi.
- Gabriela Rico
Paleteria Y Neveria La Michoacana LLC leased 1,010 square feet at 3774 S. Sixth Ave. for an ice cream shop. Jeramy Price, of Volk Co., represented the landlord, Ajo 6 LLC.
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