HANNAY REALTY ADVISORS IS PLEASED TO ANNOUNCE THE PURCHASE OF PALOMA VILLAGE CENTER, TUCSON, AZ
A partnership formed by Hannay Realty Advisors (www.hannayra.com) is pleased to announce that they have closed on the purchase of Paloma Village Center, a high-end retail asset located at one of the most desirable intersections within the Tucson retail market. The 37,739 square foot center is anchored by a CVS Pharmacy and includes other high drawing tenants such as Starbucks and Fleming’s Steakhouse. The average household incomes within a 1-mile radius of the property are in excess of $124,000, providing a highly affluent customer base. The property is also across the street from La Encantada, Tucson’s only high-end lifestyle/fashion center featuring luxury retailers such as: The Apple Store, Tommy Bahama, lululemon athletica, Coach, Tiffany & Co, Williams-Sonoma, Pottery Barn, Louis Vuitton, and more.
“Paloma Village Center is an excellent addition to our growing Arizona portfolio. This is a very well located, best-in-class retail asset that provides stable cash flow for our investors. We are actively looking for future acquisition and co-investment opportunities in Arizona and throughout the western US, with a focus on quality retail centers and core to core plus office properties”, said company president Craig Hannay.
ABOUT HANNAY REALTY ADVISORS
Hannay Realty Advisors is a 25-year old privately-owned commercial real estate services and investment firm based in Phoenix, Arizona. The company currently manages approximately 12 million square feet of commercial properties with offices in Arizona, California, Colorado, Washington, and Nevada. Hannay’s unique ability to co-invest with its investors, when required, provides greater flexibility and additional opportunities for their acquisitions program. Hannay’s management and investment expertise in retail, office, and industrial properties makes them one of the industry leaders in the western United States. Hannay Realty Advisors provides “Institutional Resources and Local Market Knowledge.”
The leasing and property management contact for Paloma Village is Craig Hannay (602) 374-2000. For commercial real estate acquisition opportunities, the contact is Christopher Lacasse, at Hannay’s headquarters in Phoenix, Arizona, (602) 374-2000.