Nearly 100K SF Tucson Shopping Center Fetches $22M

SRS Real Estate Partners has completed the $22 million sale of Silverbell Plaza, a 97,540-square-foot retail center located at Silverbell Road and Grant Road in Tucson, AZ.

John Redfield and Alan Houston with SRS’ Investment Properties represented the seller, a private investor from Arizona. The buyer, a Washington-based private investor who was in a 1031 exchange, was represented by Gary Gallelli Jr. and Adam Rainey of Gallelli Real Estate. 

Situated on 8.45 acres, the property was 97% occupied at the close of escrow, and anchored by Walgreens and Safeway and 19 other tenants, both local and national. “Silverbell Plaza is a high-quality, grocery-anchored center, and the seller has had a true pride of ownership for more than 20 years,” said Houston.

Silverbell Plaza has more than 205,000 residents and 135,000 employees within a five-mile radius and new residential developments are in various stages of construction nearby.