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Grocery-Anchored Rolling Hills Serves Steady Population in Tucson
With daily needs retail continuing to save the day in many commercial real estate properties, yet another grocery-anchored center was recently acquired in Tucson. Rolling Hills Square, a 114,102 square-foot shopping center located at the southwest corner of Kolb and Golf Links roads, recently sold for an undisclosed purchase price.
The buyer was an affiliate of Portal Investment Management LLC based in Los Angeles. Rolling Hills Square encompasses 12.36 acres and was 96.22 percent occupied at the time of the sale.
The seller was Cincinnati-based Phillips Edison & Company. Michael Hackett and Ryan Schubert with Cushman & Wakefield in Phoenix represented the seller in this transaction, and also worked with the buyer to obtain acquisition financing for the asset.
“Rolling Hills Square is a strong performing daily needs grocery-anchored asset serving a steady population in Tucson. Cushman & Wakefield was happy to procure the investment sale and financing for this essential service anchored shopping center,” said Hackett.
- ◦Acquisition
