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RVI Sells Grocery-Anchored Power Center for $84 Million

North American Development Group Buys 88% Leased Tucson Spectrum
The 88% leased Tucson Spectrum power center totals 716,704 square feet. (CoStar)
The 88% leased Tucson Spectrum power center totals 716,704 square feet. (CoStar)
By Thomas Ferguson
CoStar Research
March 9, 2020 | 11:30 AM

Independent publicly traded company Retail Value Inc. (RVI) has sold the grocery-anchored Tucson Spectrum in Tucson, Arizona, to North American Development Group, a full service real estate platform with more than $5 billion of assets under management, for $84 million, or about $117 per square foot.

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