Montesa Plaza

Montesa Plaza

50 South Houghton Road, Tucson, AZ, USA

Montesa Plaza

Cushman & Wakefield’s Retail Investment Advisors is pleased to present the opportunity to acquire Montesa Plaza (the “Property”). Montesa Plaza is a 75,643 square foot Galaxy Theatres anchored neighborhood shopping center located at the southwest corner of Houghton Road and Broadway Boulevard in Tucson, Arizona.

The Property is situated on approximately 7.19 acres of land and is currently 99.3% occupied to an attractive tenancy featuring a 9-screen Galaxy Theatre as its anchor. Galaxy Theatre occupies 73% of the space and recently signed a 15-year lease, running through October 2033. Galaxy Theatres operates 14 locations across California, Nevada, Texas and Washington. Galaxy’s focus is to develop and operate a portfolio of high impact, state-of-the-art movie entertainment theatres.  Other notable tenants include Starbucks, GNC, Sally Beauty, The UPS Store, Robek’s Juice and Cost Cutters, along with several other local retailers like El Charro Cafe (a Tucson favorite and the nation’s oldest Mexican Restaurant in continuous operation by the same family), Hops Sports Grill and Scream Creamery to name a few. Approximately 60% of the shop tenants have been operating at Montesa Plaza for over 10 years, proving their commitment to this location.

Montesa sits amongst ideal east Tucson demographics with the average household income an impressive $91,938 within a one-mile radius of the property. Additionally, just to the northeast of
the Property is a proposed 250-home development by Meritage Homes (currently under contract), that will drive even more traffic to the property upon completion.

There is limited movie theatre competition in the trade area with the nearest theatre located approximately 4 miles away, creating an ideal market niche for its over 62K residents within a 3 mile

Property Summary

Site Area7.19 acres
Year Built1999
GLA (SF)75,643 SF
AnchorGalaxy Theatre

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