"This is really the center of national retailers in the Nogales area," Dale Webber, who brokered the deal for seller Westrust Southwest Retail Partners LLC of Calabasas, CA, tells GlobeSt.com.
With its strong tenant base of retail stores, including Walgreens, Safeway and Factory-To-U, and its prime location at 351-499 W. Mariposa Rd., the shopping plaza draws a steady stream of customers from both sides of the border, said Webber, with Marcus & Millichap Real Estate Investment Brokerage Co. "In terms of location, it's very visible," he said, noting that the shopping center, built in 1988, sits on a road that straddles both Interstate 19 and Grand Avenue, two of the city's prime thoroughfares.
It took about four months for Webber and Mark Mangianti, with Marcus & Millichap's Tucson office, to broker the deal for the seller. The buyer, Loma Linda Shopping Center LLC of Scottsdale was represented by Mangianti in the 1031 Exchange.
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