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Article: Tucson, Ariz., Shopping Centers Sold; Owner Faces Issues with Development Plan.
- Article from:
- AZ Daily Star
- Article date:
- November 5, 2003
CopyrightCOPYRIGHT 2003 The Arizona Daily Star. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Macario Juarez Jr.
Nov. 5--Four Tucson shopping centers are now in the hands of a local investment firm, which becomes a major retail property owner with the purchase.
Bourn Properties paid about $28 million total for Plaza Palomino, 2900-2990 N. Swan Road, and Madera Village, The Shoppes at Bears Path and Bear Canyon -- three centers that surround the intersection of East Tanque Road and Catalina Highway.
Three of the sales have closed. The fourth, Bears Path, should be completed by week's end, said Don Bourn, principal of Bourn Properties.
The company is negotiating with the centers' former owner, MRO Southwest Inc. of ...