Kidder Mathews is pleased to present the opportunity to acquire Montesa Plaza, a 75,643-square-foot neighborhood retail center located at the hard corner of Broadway Boulevard and Houghton Road in Tucson, Arizona. The retail center was constructed in 1999, sits on 7.2 acres, and is currently 97% occupied by 15 tenants.
Anchored by Galaxy Theatres, Montesa Plaza benefits from having a destination tenant that is the only theatre in east Tucson. Galaxy Theatres was founded in 1998 and hosts 16 locations in five states. Other notable tenants of the Montesa Plaza include Starbucks, UPS Store, Sally Beauty, and Robek’s Juice.
Montesa Plaza is on the corner of Broadway Boulevard and Houghton Road. It enjoys excellent visibility, with a combined traffic count of 32,834 visitors per day. With a five-year projected population growth of 5.8% within a 3-mile radius, East Broadway Boulevard has been widened to four lanes. South Houghton Road is being expanded by four lanes stretching from Interstate 10 to the south to Tanque Verde Road to the north. This highway expansion places the Montesa Plaza strategically in the major north/south arterial in the far east section of Tucson. Montesa Plaza is in a prime area, with an active tenant base and desirable exposure.