Black Lion is pleased to announce the sale of 10,060 square feet of freestanding, 100% leased retail and medical space situated within the Oracle Wetmore shopping center in Tucson, Arizona. The sale is the final outparcel within the prestigious shopping center to be sold by Black Lion. The transaction was completed on September 13 for $4,195,000, about $417 per square foot.
“This latest sale will allow Black Lion to take a giant leap forward with our plans to add to our rapidly-growing portfolio of trophy assets in the Miami market. We’re close to our goal of investing over $100 million in premium real estate in 2021,” said Black Lion’s President, Robert Rivani. “Our long-term creative vision is to be a major contributor of the exciting transformation happening in South Florida.”
Black Lion Investment Group purchased the Oracle Wetmore retail center in February 2021 and has since also sold the freestanding retail pads on which Bassett Furniture, BJ’s Restaurant, Jared Jewelers and other successful tenants sit. Principals of Cushman & Wakefield’s Phoenix office represented Black Lion in the sale of the freestanding building in this popular power shopping center. Taylor Street Advisors represented the undisclosed buyer.