Brian Harper Of 11North Partners Acquires Retail Portfolio In Arizona For $108.7M
Retail Portfolio
$108,700,000
$257/SF
Building Size
422,949 SF
Asset Type
Retail
Closing
Nov 5, 2026
About this deal
AI
A closed transaction occurred involving a retail portfolio consisting of seven Fry’s-anchored retail centers located across Gilbert, Chandler, Mesa, Cave Creek, and Tucson, AZ. The sale price for this collection of assets amounted to $108,700,000. The total square footage of the retail portfolio is 422,949, with a price per square foot of $257. The portfolio maintained a strong occupancy rate of 96% at the time of sale.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $108,700,000
- Buyer: Brian Harper - 11North Partners
- Seller: A&C Properties
- Brokers: Patrick Dempsey, Tess Berghoff, Ross Jorgensen & Jarrod Howard - JLL
- Acquisition Financing: $66.36 million from Lincoln Financial Group
The deal featured key participants including buyer Brian Harper representing 11North Partners, who acquired the entire retail portfolio from seller A&C Properties. JLL played a crucial role in facilitating the transaction, representing the seller and securing the necessary financing for the acquisition.
On the Map
$108,700,000
$257/SF
Retail
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Players
Tucson Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93