MEXICO CITY – The Mexico City office of Hines announced the sale of City Center Pitic to MexFund S.A.P.I, a Mexico-based real estate investment firm. Financials on the deal were not disclosed. The Mexico City office of CBRE represented Hines in the transaction, while MexFund was self-represented.
The 188,063-square-foot, open-air retail center contains more than 60 shops, plus Walmart Supercenter and Sportsworld Fitness Center as anchors. Designed by the Mexican-based architecture firm Oikonos, City Center Pitic’s storefront design complements the Sonora desert landscape.
In 2008, Hines, on behalf of HCM Holdings LP, developed City Center Pitic, its first retail project in Mexico. Located on Boulevard Morelos in the uptown neighborhood of northeast Hermosillo, City Center Pitic is in the heart of the city’s fastest growing area. The capital of the State of Sonora, Hermosillo shares a common border with Arizona, just 250 miles south of Phoenix.