TUCSON—ORION Investment Real Estate completed the sale of Paloma Village Center in Tucson. The 37,739-square-foot center sold for $17.2 million to HRA Paloma LP, a commercial real estate entity affiliated with Hannay Realty Advisors based in Phoenix.
The national tenants occupying Paloma Village Center include Fleming's, CVS Pharmacy, Starbucks and Verizon Wireless. Paloma Village Center is a well-positioned class A property located in the Catalina Foothills and is part of a 12.9 acre mixed-use development that also includes a 120-room flagship Embassy Suites Hotel, which was not included in this sale.
The buyer in the transaction was represented by Andrew Harrison of ORION Investment Real Estate based in Scottsdale. The California-based seller was represented by Matthew Lyons at The Hogan Group in Scottsdale.
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