Macerich Co. Sells La Encantada Lifestyle Center in Tucson for $165.2M

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Located in Tucson, Arizona, La Encantada has 246,256 square feet of outdoor retail space.

TUCSON, ARIZ. – Macerich Co. has completed the sale of La Encantada, an open air lifestyle center in Tucson. A group of local investors purchased the property for $ 165.2 million. JLL Capital Markets arranged a $ 102 million acquisition loan for the buyer.

La Encantada was completed in 2003 and has 246,256 square feet of retail space. At the time of the sale, the property was 93 percent rented. Current tenants include Crate & Barrel, Tiffany & Co., West Elm, Anthropologie, Athleta, Lululemon, Pottery Barn, Madewell, Warby Parker, Williams-Sonoma, Bluemercury, Barre 3, Core Health & Fitness, Fuchsia Spa and Laseraway, AJ’s Fine Foods, RA Sushi Bar and Restaurant, Northern Italy and Blanco Tacos + Tequila.

Patrick Dempsey from JLL Capital Markets Investment Sales and Advisory represented the seller on the transaction. Jeremy Womack and Zane Coffman from the JLL Capital Markets Debt Advisory Team represented the new owner on the acquisition financing.

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