Campbell Plaza - Retail Reborn

Campbell Plaza is a model for successful repositioning and now includes many high-profile retailers such as Staples and Ross as well as an energetic nightlife with several restaurants.  The property has been transformed from a 50 year old neighborhood shopping center into an institutional quality and dynamic power center that still serves the day to day need of a multitude of local residents and visitors.

 

The 191,153± square foot Campbell Plaza is located on a main arterial route connecting the affluent Catalina Foothills community to the established employment centers in central Tucson. The property benefits from its close proximity to the University of Arizona’s main campus and the nearby University Medical Center, a 399 bed acute-care hospital and Level 1 trauma center. Within a five mile radius is approximately 25% of Tucson’s population.The transformation of Campbell Plaza began with the demolition of a tired restaurant and the construction in its place of a two-story mixed-use building with retail and restaurants on the ground level and offices on the second floor.Recently, Campbell Plaza celebrated its 50th anniversary with an $8 Million renovation that added Staples and Ross to the existing anchors of Albertson’s and Ace Hardware. Also, T-Mobile and Five Guys Burgers & Fries (Tucson’s first) recently joined the diverse list of national and regional tenants within the property that already included GameStop, Rubio’s, Jamba Juice, Old Chicago Restaurant, Curves for Women, Cost Cutters and PostNet.

We purchased Campbell Plaza in May 1998 with a partner for $15.55 million or $86/sq.ft. Holualoa sold the property for $32.3 million or $169/sq.ft. in December 2012.