TUCSON, ARIZ. — Phoenix Commercial Advisors has arranged the sale of Paloma Village Center, a retail property located within the Catalina Foothills in Tucson. The asset traded for $18.4 million, or $480 per square foot. The names of the seller and buyer were not released.
Situated on the 4.5 acres on the southeast corner of Campbell Avenue and Skyline Drive, the 38,347-square-foot property was 94 percent occupied at the time of sale. Current tenants include Starbucks Coffee, CVS/pharmacy and Fleming’s Steakhouse.
Chad Tiedeman and Danny Gardiner of Phoenix Commercial Advisors represented the seller in the transaction.