Tucson, AZ

Major Shopping Mall is Sold for $165 Million

Greyson F

https://img.particlenews.com/image.php?url=1UQo3L_0cF7VLMw00
Your shopping experience might changeJoshua Rawson Harris/Unsplash

When it comes to high-end shopping here in Tucson, few malls in the region can compete with that of La Encantada. Tucked into the Catalina Foothills area, this shopping center has everything from Tiffany’s to Crate & Barrel. But now, the massive nearly 250,000 square-foot outdoor mall has been sold. 

La Encantada was sold quietly, without a lot of fanfare. The new owners, which remain nameless, are only known as a group of local investors. While the local group does not have an official name for themselves (or, at the very least, they have not publicly revealed a name), they purchased the area for $165.25 million. 

In a time where most malls have struggled, this outdoor shopping center has thrived, with 93 percent of all storefronts currently occupied. Many of the shops here are not available anywhere else in metro Tucson. From home, good stores like Williams-Sonoma to clothing stores like Lululemon, Anthropologie, the Apple Store, as well as a number of restaurant opportunities, the mall looks to continue offering high-end shopping experiences for patrons. 

There is no word yet as to whether there will be any changes with the mall. It’s possible a poll will be taken of the surrounding communities, as it is one of the most affluent neighborhoods in all of Tucson. In a small, three-mile radius of La Encantada, there are more than 35,000 residents bringing in a household income of more than $120,000, so the mall will likely continue developing in order to cater to those with a greater disposable income. 

As it stands, it is difficult to add new retail outlets in this high-profile area. Outside of a few spot storefronts clinging to Skyline Drive, there isn’t the chance for new businesses to move in. Plus, with La Encantada holding a number of exclusive stores, it makes the shopping mall more of a destination than anything else. 

La Encantada did not officially announce any change over with the recent purchase, so if you are someone that visits the shopping center or one of the restaurants you’ll need to wait and see what, if any changes, will be made. If changes are to be made, guests likely will not see any kind of visual updates for at least a year, when rental agreements are updated. 

Currently, some of the stores you can find at the mall include Ann Taylor, Aveda, Barre 3, Bluemercury, Coach, Lucky Brand, Lush, West Elm, and White House / Black Market. Restaurants include Blanco Tacos + Tequila, Firebirds Wood Fired Grill, North Italia, RA Sushi Bar, and Savaya Coffee

This is original content from NewsBreak’s Creator Program. Join today to publish and share your own content.

Comments / 1

Published by

I'm here to help bring you the latest and greatest in beer, food, relationships, and everything else in between.

Tucson, AZ
5000 followers

More from Greyson F

Comments / 0