TUCSON, ARIZ. – The Tucson Spectrum Shopping Center has sold to DDR Corp., a publicly-traded investment trust, for $125.4 million. The 709,811-square-foot center is located at Irvington Road and Interstate 19 in Tucson. The company purchased the center, along with seven developable, finished retail pads that were part of the center’s Phase II development. Tucson Spectrum Phase I and Phase II contain more than 1 million square feet of retail space situated on 122 acres. Notable tenants include Target, Home Depot, Ross, PetSmart, Marshalls, Michaels, J.C. Penney, Best Buy, Old Navy, Bed Bath & Beyond, Harkins Theatres and LA Fitness. Jan Fincham and Patrick Dempsey of Lee & Associates Arizona represented both the buyer and the sellers, Creswin Properties Inc and an affiliate of the Barclay Group, in this transaction.
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