The Shoppes at Bears Path

The Shoppes at Bears Path

8800 East Tanque Verde Road, Tucson, AZ, USA

Cushman & Wakefield’s Retail Investment Advisors is pleased to offer for sale The Shoppes at Bears Path “The Property”, a 43,838 square foot multi-tenant retail shopping center located in Tucson, Arizona.

The Shoppes at Bears Path is situated on approximately 7.9 acres at the southwest corner of Tanque Verde Road and Bear Canyon Road, in the heart of the Tanque Verde Valley. The Tanque Verde Valley is a growing area with some of the highest household incomes in Tucson. The average home value is $375,072 within a one-mile radius of the property, compared to $273,471 for the Tucson MSA. The average household income within a 1-mile radius of the Property is approximately $106,695 and expected to grow to $122,054 by 2025. The average household income of the Tucson MSA is approximately $77,318 in comparison. This creates an ideal demographic for the shopping center.

The Property is currently 66.7% occupied by an attractive tenant roster, with Leslie’s Pool Supplies, University of Arizona, State Farm and Edward Jones to name a few. This tenancy is complimented by CVS and La Petite Academy at the shopping center (not a part), both COVID resistant tenants that will continue to draw consumers to the Property.

Approximately 46% of the tenants have been operating at the Property for over 10 years, proving their commitment and success at this location. Additionally, The Shoppes at Bears Path offers immediate significant upside potential through the leaseup of the 14,602 square feet of available space, along with the 1,629 square feet currently leased to a month-to-month tenant.

The shopping center is offered Free & Clear, allowing a Buyer to take advantage of an all-time low interest rate environment.

Property Summary

Site Area7.9 acres
Year Built1988
GLA (SF)43,838
AnchorAnytime Fitness
Occupancy66.7%

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