Black Lion Investment Group Buys Oracle Wetmore Shopping Center in Tucson for $38M
TUCSON, ARIZ. — An affiliate of Black Lion Investment Group has acquired Oracle Wetmore, a shopping center in Tucson, from Texas-based Weingarten Realty for $38 million.
Located at the corner of Oracle and Wetmore roads, Oracle Wetmore features 150,170 square feet of retail space. The Home Depot, PetSmart, Ulta Beauty, Nordstrom Rack, Total Wine, Walgreens, Cost Plus World Market, Jared Jewelry, JoAnn Fabrics & Crafts, BJ’s Restaurant & Brewhouse, Bassett Home Furnishings, Chipotle, Jimmy John’s Gourmet Sandwiches, Panera Bread, Sleep Number and Sprint are tenants at the property, which was originally developed in 2005. At the time of sale, Oracle Wetmore is stabilized with more than 90 percent national/credit tenants.
The purchase is part of Black Lion Investment Group’s ongoing program to acquire power centers throughout the United States.
Cushman & Wakefield’s Phoenix office brokered the deal.