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Tucson’s River Center trades for $24.8 million
Tucson, Ariz. — Lee & Associates Arizona has negotiated the $24.8 million sale of the River Center, a 117,563-sq.-ft. shopping center anchored by Whole Foods and Petco. Located on East River Road in the Catalina Foothills of northeastern Tucson, the center posted a cap rate of 5.5%.
Lee & Associates Arizona represented the buyer, Global Retail Investors LLC, a subsidiary of First Washington Realty of Bethesda, Md., and the seller, River Center Canada.
River Center was constructed in 1986 and remodeled in 1997 and 2013. -
Report: Wal-Mart sets up new India company
Bentonville, Ark. – Wal-Mart Stores has reportedly registered a new company called “Wal-Mart India Private Ltd.” in India, setting the stage for entering the Indian grocery market with a new local partner. According to the Free Press Journal, an Indian publication, Wal-Mart registered the company on Jan. 15, 2014 with the Indian Ministry of Corporate Affairs.