TUCSON, AZ – In a strategic move that underscores the burgeoning economic potential of the Southern Arizona corridor, Western Retail Advisors (WRA), a premier Phoenix-based retail brokerage firm, has officially announced the opening of its new Tucson office. This expansion is punctuated by the high-profile appointment of Nancy McClure as Senior Vice President and Southern Arizona Market Leader. McClure, a titan in the commercial real estate industry with nearly four decades of experience, is set to spearhead WRA’s operations in a region that is increasingly becoming a focal point for national retailers and institutional investors.

The establishment of a permanent Tucson presence marks a significant milestone for Western Retail Advisors, a firm that has built a formidable reputation for its data-driven approach and deep-rooted local expertise. By planting a flag in the Tucson market, WRA aims to bridge the gap between its Phoenix headquarters and the unique, rapidly evolving retail landscape of Southern Arizona.

Main Facts: A Strategic Pivot Toward Southern Arizona

The opening of the Tucson office is not merely a geographical expansion; it is a response to the shifting demographics and economic diversification of the state. As the "Sun Corridor"—the megaregion encompassing Phoenix and Tucson—continues to experience some of the highest population growth rates in the United States, the demand for sophisticated retail infrastructure has reached a critical mass.

Western Retail Advisors’ new office will offer a comprehensive suite of services, including:

• Tenant and Landlord Representation: Navigating the complexities of lease negotiations for both local boutiques and national chains.
• Restaurant and Entertainment Leasing: A specialized focus on the food and beverage sector, capitalizing on Tucson’s status as a culinary destination.
• Specialty Leasing and Investment Sales: Facilitating high-value transactions and identifying underutilized assets for redevelopment.

The appointment of Nancy McClure is the cornerstone of this expansion. With over 36 years at CBRE, McClure brings an unparalleled depth of knowledge regarding the Southern Arizona market. Her transition to WRA is seen by industry analysts as a major "win" for the firm, signaling its intent to dominate the retail brokerage space in the region.

Chronology: The Evolution of a Retail Powerhouse

To understand the significance of this move, one must look at the trajectory of both Western Retail Advisors and the Tucson retail market over the past several decades.

The Rise of Western Retail Advisors

Founded on the principles of firsthand retail experience and market intelligence, Western Retail Advisors has spent years cultivating a client list that includes Fortune 500 companies and top-tier national retailers. Originally focused on the Phoenix metropolitan area, the firm realized early on that the Arizona market could not be viewed as a monolith. The nuances of the "Old Pueblo" (Tucson) required a dedicated, local approach that a Phoenix-only office could not fully provide.

The Career of Nancy McClure

Nancy McClure’s career mirrors the growth of Tucson itself. Joining CBRE in the mid-1980s, she witnessed the transition of Tucson from a quiet desert town to a thriving metropolitan hub. During her tenure, she became a specialist in "de-malling"—the process of converting traditional, enclosed shopping malls into modern, open-air "power centers" or mixed-use developments. One of her most notable achievements involved the repositioning of a 1.1 million-square-foot core-plus center, a project that redefined the retail expectations of the local community.

The Converging Paths

By 2024, the interests of WRA and McClure converged. WRA needed a leader with "boots-on-the-ground" experience to navigate the post-pandemic retail environment, and McClure sought a platform that offered the agility and specialized focus of a retail-centric boutique firm. The result was the formation of the WRA Tucson office, which officially opened its doors this month.

Supporting Data: The Economic Engine of Tucson

The decision to expand into Tucson is backed by compelling economic indicators. While Phoenix often captures the national spotlight, Tucson’s steady growth and unique economic drivers make it an attractive prospect for retail investment.

Population and Demographics

Tucson’s population has seen consistent growth, fueled by the expansion of the University of Arizona and a burgeoning tech sector often referred to as "Optics Valley." The influx of high-wage jobs in aerospace, defense, and renewable energy has increased the discretionary income of the local population, driving demand for upscale dining and retail experiences.

The "UNESCO City of Gastronomy" Factor

In 2015, Tucson became the first city in the United States to be designated a "City of Gastronomy" by UNESCO. This designation has transformed the city into a magnet for food tourism and restaurant innovation. WRA’s focus on restaurant leasing is a direct response to this trend. Data shows that "experiential retail"—specifically high-quality dining—is the primary driver of foot traffic in modern shopping centers, outperforming traditional apparel and department stores.

Retail Vacancy and Absorption

Current market reports indicate that retail vacancy rates in Tucson have remained remarkably resilient, even amidst national fluctuations. The "flight to quality" is evident, as newer developments and well-positioned redevelopments see rapid absorption. WRA’s entry into the market is timed to capitalize on this demand for high-performing retail space.

Official Responses: Leadership on the Record

The leadership at Western Retail Advisors has expressed a clear vision for the future of the Tucson office, emphasizing the importance of local leadership.

Eric Termansen, Founding Partner of Western Retail Advisors, highlighted the philosophical alignment between the firm and its new Market Leader:
"Western Retail Advisors is built on firsthand retail experience, local market knowledge, and established relationships. Opening a dedicated Tucson office with a proven local leader like Nancy puts that philosophy into action," Termansen stated. "Nancy is the ideal person to guide our Southern Arizona presence as Tucson continues to grow as a compelling market for retail tenants, landlords, and investors."

Nancy McClure, Senior Vice President & Southern Arizona Market Leader, expressed her enthusiasm for the new venture and the current state of the market:
"Western Retail Advisors has an exceptional reputation for its retail expertise, collaboration, and client service," McClure said. "I am excited to join the firm and help expand its presence at a time when Southern Arizona is seeing such meaningful growth, strong retail demand, and continued opportunity."

McClure’s role extends beyond brokerage; she is a fixture in the Tucson community. Her involvement with the Tucson Airport Authority and the University of Arizona Eller College of Management National Board of Advisors provides her with a holistic view of the region’s economic health, allowing her to offer clients insights that go beyond simple real estate metrics.

Implications: The Future of Retail in Southern Arizona

The entry of Western Retail Advisors into the Tucson market, led by Nancy McClure, has several long-term implications for the region’s commercial real estate landscape.

1. Increased Competition and Professionalization

WRA’s presence is likely to raise the bar for retail brokerage in Tucson. By bringing "big-city" resources and a national network to a local office, WRA provides landlords and tenants with a level of sophistication typically reserved for larger markets. This could lead to more aggressive recruitment of national brands that have previously overlooked Tucson in favor of Phoenix or Scottsdale.

2. Focus on Adaptive Reuse and Redevelopment

With McClure’s expertise in de-malling and repositioning assets, we can expect to see a surge in the revitalization of aging retail centers. As Tucson faces land constraints and environmental considerations, the ability to transform existing structures into vibrant, mixed-use spaces will be crucial for sustainable growth.

3. Strengthening the Phoenix-Tucson Synergy

The expansion reinforces the idea of Arizona as a unified economic corridor. Companies looking to enter the Arizona market can now work with a single firm that has deep expertise in both major metropolitan areas. This synergy is particularly beneficial for national retailers looking to execute a multi-site rollout across the state.

4. The Evolution of Experiential Retail

Given Tucson’s unique cultural identity and its status as a UNESCO City of Gastronomy, WRA is well-positioned to lead the charge in experiential retail. We are likely to see a greater emphasis on "lifestyle centers" that integrate dining, entertainment, and social spaces, moving away from the transactional nature of traditional retail.

Conclusion

The opening of the Western Retail Advisors office in Tucson, headed by Nancy McClure, represents a significant vote of confidence in the future of Southern Arizona. By combining McClure’s legendary local expertise with WRA’s national reach and specialized retail focus, the firm is poised to play a defining role in the next chapter of Tucson’s economic story. As the retail landscape continues to shift toward experience, local authenticity, and strategic redevelopment, the WRA Tucson office stands ready to navigate these complexities for the benefit of tenants, landlords, and the community at large.

About Western Retail Advisors
Western Retail Advisors (WRA) is a full-service commercial real estate brokerage firm specializing in the retail market. Based in Arizona and California, the firm provides master broker services, tenant representation, landlord representation, and investment sales. With experience in more than 30 states, WRA serves top retailers and Fortune 500 clients nationwide. For more information, visit W-Retail.com.

Media Contact:
Stacey Hershauer
focus AZ
[email protected]
480-600-0195