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

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Tucson, Arizona. – 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. La Encantada was completed in 2003 and has 246,256 square feet of retail space. At the time of the sale, 93 percent of the property was owned by tenants including 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, North Italia 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, JLL Capital Markets Debt Advisory Team, arranged a $ 102 million acquisition loan on behalf of the buyer.

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