Bourn Companies and FHM Partners, LLC have purchased the Foothills Mall.
Bourn had past experience with the mall when the acquired it in 1994. At that time it was at a 12% occupancy.
In 1999, they sold the property at 95% occupancy after repositioning the mall into its current format.
“This property is a terrific large-scale in-fill location, strategically located to serve northwest Tucson, including Marana and Oro Valley. This is A+ real estate.” Don Bourn said.
When Simon Property Group opened Tucson Premium Outlets in 2015, several users left the Foothills Mall.
According to a recent release, the Foothills Mall is at 73% occupancy despite the departures.
“We are committed to make a significant investment to create a first-class destination.” Bourn said.