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Tucson’s Campbell Plaza Sold for $33M

Campbell Plaza Shopping Center in Tucson, AZ has traded hands for $33 million. The buyer was an affiliate of Tucson-based DSW Commercial, while the seller was San Francisco-based The Krausz Companies.

The 190,022-square-foot grocery-anchored community shopping center is anchored by Albertsons, which has been operating at the property for nearly 25 years and just exercised an option to extend its lease term. Other tenants include Ross Dress for Less and Ace Hardware. The nearly 17-acre site on the Campbell Avenue Corridor also includes a roughly 28,000-square-foot, single-story, office component.

Lucescu Realty’s Mark Lucescu and Greg Wendelken represented the seller and procured the buyer.

Wendelken says, “It’s an institutional-quality center located in a very dense, infill location with very high barriers to entry. It would be almost impossible to assemble 17 acres of land within that trade area today. And, even if you could, the costs would be significantly higher than the purchase price.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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