Sunbelt Land Holdings, LP Acquires Retail Property In Tucson, AZ For $31.1M

A retail property spanning 9.05 acres located at 5655 East River Road in Tucson, AZ has been sold. The property, with a total square footage of 107,508, was sold for a price of $31,100,000, resulting in a price per square foot of $289. The buyer of the property was Sunbelt Land Holdings, LP, while the seller was GRI River Center Pad, LLC. The transaction was facilitated by Patrick Dempsey from JLL Retail Capital Markets.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $31,100,000
• Acres: 9.05
• Square footage: 107,508
• Address: 5655 East River Road, Tucson, AZ
• Buyer: Sunbelt Land Holdings, LP
• Seller: GRI River Center Pad, LLC
• Broker: Patrick Dempsey - JLL Retail Capital Markets
• Price per Square Foot: $289

The involvement of Patrick Dempsey from JLL Retail Capital Markets highlights the role of a knowledgeable representative in the deal. Their expertise and experience likely played a crucial role in ensuring a successful transaction between the buyer, Sunbelt Land Holdings, LP, and the seller, GRI River Center Pad, LLC.