Seller 12th Avenue Partners, a Tucson-based real estate investment partnership, has owned the center for three years. Broker Dale Webber of the Tucson office of Marcus & Millichap has represented the principals in the transaction.The property is situated about two miles south of the split between Interstates 10 and 19 and less than a half mile from Interstate 19, the main artery leading into Mexico.
The southwest area of Tucson and the Tucson Mountain Foothills has begun to see an increase in development of single-family homes. During the first quarter, 570 permits were issued for construction in the area, making it the most active of any submarkets in Tucson. Homes in the Tucson Mountain Foothills are selling, on average, for $140,000, while those in the southwest area are going for $126,760.
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