Alturas Capital Partners acquired Heritage Plaza Shopping Center in Tucson for $17.5 million. With traffic volumes of approximately 45,000 vehicles daily, Heritage Plaza Shopping Center is centrally located in the Northwest Tucson retail corridor. 

The shopping center, built in 1987, spans 113,000 square feet and was 93% occupied at closing. It boasts a mix of local and national tenants catering to daily needs and lifestyle services. It’s anchored by LA Fitness and Goodwill.

This property is Alturas’ second asset in Tucson and the eighth asset overall in Arizona. Tucson boasts a retail market vacancy rate of 5% and an unemployment rate of 4%, with a population of 1.1 million residents. Larsen Baker has the leasing contract for Heritage Plaza with the new owner.