Alturas Capital Partners acquired Montesa Plaza, a 75,000-square-foot multi-tenant retail center spanning 7.2 acres on Tucson’s far-east side. This is Alturas Capital Partners’ first acquisition of 2025 and third multi-tenant retail asset in Tucson. The asset sold for $14.2 million. Brentwood Development was a previous owner.

The property, built in 1999, was 97% occupied at closing. It’s anchored by a Galaxy movie theater. Other tenants include Starbucks, GNC, Five Guys and Mama’s Pizza. The center offers an additional upside through leasing and developing a vacant pad site.

Nathan Thinnes and Darren Tappen of Kidder Mathews facilitated the acquisition. Alturas also worked with its lender partner, Bank of Utah.