Tucson retail that reaches this desk is neighborhood and grocery-shadow centers on the east side, midtown strips along Campbell and Broadway, and smaller downtown buildings. Those are not one rollover. Capital Market Funds originates life company, bank, CMBS, or bridge from Scottsdale. We do not claim any Tucson mall or center as a client. Oro Valley is a different municipality and is not folded into this page.
No retail tombstone names Tucson. The Tucson card is value-add multifamily, $28,000,000, life company. The retail card is The Block at Pima Center, Scottsdale, $14,500,000. Using either as a Tucson shopping-center closing would be false. Arizona retail is statewide. Agency programs do not finance a Tucson center. We are not a Fannie Mae DUS lender.
Eastside strips versus midtown
An eastside shadow anchor with a grocery lease is a different file from a midtown building with local shops and a short weighted average term. We read the rent roll. We do not publish a Tucson retail cap rate or a vacancy survey.
A dark junior box is bridge if permanent credit will not take today’s occupancy. That is the same discipline as Maricopa, applied to a Pima address.
Apartments are not the store
The interest-only period on the Tucson multifamily loan is not a retail construction story. Retail tenants do not inherit 80% LTC from that card.
If the Tucson property is apartments over retail, the income split decides the page. Mostly shops stay here. Mostly apartments belong with the multifamily discussion on the Tucson city page.