Tucson shopping center sells for $24 million

River Center
River Center

AZRE Magazine

River Center, a 117,563 SF Whole-Foods and Petco-anchored shopping center at 555 E. River Rd. in Tucson, has sold for $24,775,000. The sale posted a cap rate of 5.5%.

The January 9 closing was lead by Lee & Associates Arizona principals Patrick Dempsey and Jan Fincham. The buyer was Global Retail Investors, LLC, a subsidiary of First Washington Realty, Inc. of Bethesda, MD. The seller was River Center Canada, LLC.

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