TUCSON, ARIZONA, (December 23, 2024) — This week, we highlight a 10,983 square feet industrial lease in Nogales to Zion City, handled by Denisse Angul-Badilla of Cushman & Wakefield | PICOR and a 10,000-square-foot hanger in Tucson leased to Tucson Jet Center handled by Isaac Figueroa with Larsen Beker.

The following leases were reported to Real Estate Daily News from December 16- 20, 2024.

INDUSTRIAL – AVENIDA ALVARO OBREGON, #2762 EL GRECO, NOGALES, AZ, 84066 – South Submarket
Zion City, Inc. leased 10,983 square feet of space at Avenida Alvaro Obregon #2762 El Greco, in Nogales, Sonor. Denisse Angul-Badilla, Commercial Specialist with Cushman & Wakefield | PICOR, represented the tenant.

INDUSTRIAL – 1840 E VALENCIA RD., TUCSON, 85706 – South Submarket
Tucson Jet Center, LLC has leased the 10,000-square-foot airplane hangar at 1840 E Valencia Rd at Tucson International Airport. With this additional hangar, Tucson Jet Center will expand its current operations as a full-service FBO. Isaac Figueroa, CCIM, SIOR of Larsen Baker, represented the Landlord, Arizona Aviation Associates, LLC, an affiliate of Larsen Baker, and handled the transaction.

OFFICE – TUCSON  MEDICAL PARK, TUCSON, 85712 – Northeast Submarket
Tucson Medical Center dba TMC Sleep Lab leased 6,785 square feet of Medical office space at Tucson Medical Park, 2100 N. Rosemont Blvd., in Tucson, from TMC Holdings, Inc. Richard M. Kleiner, MBA, Principal, and Alexis Corona, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.

RETAIL – SUNRISE VILLAGE, SEC SUNRISE & SWAN, TUCSON, 85718 – Northeast Submarket
Pacific Dental Services has leased 4,901 square feet of retail space at Sunrise Village Shopping Center, located at the SEC of Sunrise and Swan in Tucson, from Sunrise Village Investors, LLC. Dave Hammack, Principal, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord. Joe Doucett with Newmark Real Estate of Arizona, LLC, represented the tenant.

INDUSTRIAL – EASTSIDE RESEARCH COMMERCE CTR., TUCSON, 85710 – East Submarket
Old Pueblo Baptist Church Inc. leased 3,211 square feet of industrial space, at Eastside Research Commerce Center, 1775 S. Pantano Rd., Suite 100-110 in Tucson, from Eastside Center, LLC. Alex Demeroutis, Industrial Specialist, and Paul Hooker, SIOR, Principal, Industrial Specialist, and Jesse Blum, SIOR, Principal, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord.

RETAIL – 6003-6005 E 22^ND ST., TUCSON, 85711 – East Submarket
Praise Chapel East leased 2,500 square feet of retail space at 6003 – 6005 E. 22nd St. in Tucson, from Orange Sandblast, LLC and Xperts Investments, LLC. Aaron LaPrise, Principal, Dave Hammack, Principal, and Samuel Ramirez, Retail Specialists with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – 1251 S TYNDALL AVE., TUCSON, 85713 – South Submarket
Tucson Mattress Factory, LLC sublet 1,750 square feet of industrial space at 1251 S. Tyndall Ave., Suite 105 in Tucson, from Jada’s Tucson Properties, LLC. Rob Tomlinson, Principal, Retail Specialist, Andrew Keim, Industrial Specialist and Kameron Norwood, Investment Sales & Leasing Specialist with Cushman & Wakefield | PICOR, handled this transaction.

RETAIL – VENTANA PLAZA, 5425 N KOLB RD., TUCSON, 85750 – Northeast Submarket
Saguaro Sunset Veterinary Services, LLC leased 1,671 square feet of retail space at Ventana Plaza, 5425 N. Kolb Rd., Suite 119 in Tucson, from The WH Group #2, LLC.  Dave Hammack, Principal and Ryan McGregor with Cushman & Wakefield | PICOR, represented the landlord. Zdravko Manov with Gile Commercial Real Estate represented the tenant.

OFFICE – SPEEDWAY PROFESSIONAL CENTER, TUCSON, 85719 – Central Submarket
Autism Society of Southern Arizona leased 1,670 square feet of office space at Speedway Professional Center, 2302 E. Speedway Blvd., Suite 112 in Tucson, from Professional Center LLC. Kameron Norwood, Investment Sales & Leasing Specialist with Cushman & Wakefield | PICOR, represented the tenant. Cameron Casey with Oxford Realty Advisors represented the landlord.

OFFICE – 2200 E RIVER RD., TUCSON, 85718 – Northeast Submarket
Strum Family Law PLLC leased 1,587 square feet of office space, at 2200 E River Rd, Suite 121, Suite 121 in Tucson, from Hazen Arroyo I, LLC; Hazen Arroyo II, LLC; Hazen Enterprises, Inc.. Jason Shaltiel, Office Specialist with Cushman & Wakefield | PICOR, represented both parties.

INDUSTRIAL – 6902 N CAMINO MARTIN, MARANA, 85741 – Northwest Submarket
Serrano’s Heating & Cooling, LLC leased 1,500 square feet of industrial space at 6902 N. Camino Martin, Suite 140 in Marana from Acorn Ventures, LLC. Andrew Keim, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant. Max Fisher with BRD Realty, LLC, represented the landlord.

OFFICE – 2015 W RIVER RD., TUCSON, 85704 – Northwest Submarket
Arizona Conference of Police and Sheriffs leased 1,485 square feet of office space at Sundt Corp. Southern AZ HQ, 2015 W. River Rd., Suite 141 in Tucson, from Sundt Companies, Inc..   Ryan McGregor, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord. Batoun Herrington with Branel Real Estate Company represented the tenant.

RETAIL – GRANT SQUARE, 4444 E GRANT RD., TUCSON, 85712 – Northeast Submarket
Desi Mall, LLC leased 1,200 square feet of retail space at Grant Square, 4444 E. Grant Rd., Suite 118 in Tucson from Kolvoord Family Limited Partnership. Rob Tomlinson, Principal, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord. Patrick Teske with Tierra Antigua Realty, represented the tenant.

OFFICE – CONTINENTAL PLAZA, GREEN VALLEY, 85622 – South Submarket
American Pacific Mortgage Corporation dba Sun Street Mortgage leased 1,185 square feet of office space at Continental Plaza, 180 W. Continental Rd., Suite 150 in Green Valley, from Continental Green Valley Associates, LLC. Rob Tomlinson, Principal, Retail Specialist, and Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE – 6650 N ORACLE RD, TUCSON, 85704 – Northwest Submarket
Centrix Health Services leased 1,083 square feet of office space at 6650 N. Oracle Rd., Suite 101 in Tucson, from M.A.S. Real Estate Services, Inc. Richard M. Kleiner, MBA, Principal, and Alexis Corona, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE – CONTINENTAL PLAZA, GREEN VALLEY, 85622 – South Submarket
Final Seasons, LLC leased 1,005 square feet of office space at Continental Plaza, 210 W. Continental Rd., Suite 216A in Green Valley from Continental Green Valley Associates, LLC. Rob Tomlinson, Principal, Retail Specialist and Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.

RENEWAL

GROUND LEASE, MANZANITA PLAZA, 2990 W VALENCIA RD, TUCSON, 85746 – West Submarket
Larsen Baker is pleased to announce that McDonald’s has renewed its ground lease for 20 years at 2990 W Valencia Rd located in the Manzanita Plaza shopping center at the NWC of Valencia Rd. and Cardinal Ave. Isaac Figueroa, CCIM, SIOR, represented the Landlord, Manzanita Investment Group, LLC, and handled the transaction.

OFFICE – TMC HOSPITAL CAMPUS, 2424 N WYATT DR., TUCSON, 85712 – Northeast Submarket
TMCOne Primary Care renewed its lease with TMC Holdings, Inc. for 11,603 square feet of Medical office space at TMC Hospital Campus, 2424 N. Wyatt Dr., Suite 100 in Tucson. Richard M. Kleiner, MBA, Principal, and Alexis Corona, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE – ALVERNON EXECUTIVE PLAZA, 877 S ALVERNON WAY, TUCSON, 85711 – East Submarket
Helping Ourselves Pursue Enrichment, Inc dba HOPE renewed and expanded its lease with Alvernon Executive Plaza LLC for a total of 10,396 square feet of office space at 877 S. Alvernon Way, Suites 100 & 200 in Tucson. Molly Mary Gilbert, an Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE – TUCSON MEDICAL PARK, 5300 E ERICKSON DR., TUCSON, 85712 – Northeast Submarket
TMC Medical Network dba TMCOne renewed its lease with TMC Holdings, Inc. for 3,711 square feet of Medical office space at Tucson Medical Park, 5300 E. Erickson Dr., Suite 100 in Tucson. Richard M. Kleiner, MBA, Principal, and Alexis Corona, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE – TUCSON MEDICAL PARK, 5225 E KNIGHT DR., TUCSON, 85712 – Northeast Submarket
Rincon Orthopedic Associates P.C. renewed its lease with TMC Holdings, Inc. for 1,763 square feet of Medical office space at Tucson Medical Park, 5225 E. Knight Dr., Suite 201 in Tucson. Richard M. Kleiner, MBA, Principal, and Alexis Corona, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE – BROADWAY OFFICE TOWER, 5151 E BROADWAY BLVD., TUCSON, 85711 – East Submarket
Tomlinson Financial Group, LLC renewed its lease with KCI Broadway, LLC, Scott Seldin-Broadway, LLC, Belmont Broadway, LLC, Tucson 5151 Investments, LLC for 1,642 square feet of office space at 5151 E. Broadway Office Tower, 5151 E. Broadway Blvd., Suite 451 in Tucson. Mark Isenberger with Cushman & Wakefield | PICOR, represented the landlord. Rob Tomlinson, Principal, Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant.

OFFICE – TMC HOSPITAL CAMPUS, 2424 N WYATT DR, TUCSON, 85712 – Northeast Submarket
TMC Medical Network dba TMCOne Urgent Care renewed its lease with TMC Holdings, Inc. for 1,460 square feet of Medical office space at TMC Hospital Campus, 2424 N. Wyatt Dr., Suite 140 in Tucson. Richard M. Kleiner, MBA, Principal, and Alexis Corona, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – ALVERNON BUSINESS CENTER, 3865 E 34^TH ST., TUCSON, 85713 – South Submarket
Act Fast Delivery of Tucson, Inc. renewed its lease with AP&D Investments, L.L.P. for 1,376 square feet of industrial space at Alvernon Business Center, 3865 E. 34th St., Suite 106 in Tucson. Robert Glaser, SIOR, CCIM, Principal, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE – INA EXECUTIVE CENTER, 3295 W INA RD., TUCSON, 85741 – Northwest Submarket
SA Nasca Insurance Agency, Inc. renewed its lease with Ina Executive Center, LLC for 698 square feet of office space at Ina Executive Center, 3295 W. Ina Rd., Suite 100, in Tucson. Thomas J. Nieman, Principal, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.

Submit sales and lease to [email protected].

PHOENIX, ARIZONA (Dec. 23, 2024) – NAI Horizon facilitated a long-term retail lease at the Shops at Norterra, 2450 W. Happy Valley Road, in Phoenix.

NAI Horizon represented Modern Mods Norterra LLC in a new, 5,053 SF long-term lease totaling almost $940,000. Leading the NAI Horizon team in the transaction was Associate Brandon Hall. Other team members included Managing Director Lane Neville, Senior Associate Cole Neville, and Associates Whitney Heritage and Matt Westra.

“Our team had been working on the Modern Mod’s requirement for a little over a year and we narrowed in on North Phoenix for their next regional retail location,” Hall said.    “Only one suite at Norterra became available and though it was a bit bigger than their requirements, we were able to structure a plan to consolidate their office/training facilities under one roof alone. This along with their new retail piercing location allowed us to seize the opportunity to be at Norterra. It was great working with Heather and Bobby Moss and our team is thrilled to see how the space turned out.”

With locations at Arrowhead Town Centre in Glendale, Arizona, and Chandler Fashion Center in Chandler, Arizona, Modern Mods offers ear piercing and curation; facial and oral piercing; body piercing; and permanent jewelry.

The Shops at Norterra is a 354,000 SF lifestyle center featuring specialty retailers and junior anchors located in the rapidly expanding north Phoenix submarket known as the Black Canyon Corridor. The Shops at Norterra creates a village-like atmosphere with abundant pedestrian walkways.

Tenants include Harkins Theaters, Dick’s Sporting Goods, BevMo, Best Buy, Mellow Mushroom, Pita Jungle, and Panera Bread, to name a few.

The landlord, Yam Norterra, LLC, of Scottsdale was represented by Shane Stephens of Block 23 Commercial, LLC c/o RED Development.

TUCSON, AZ (December 23, 2024) — As we close out 2024, we at Trend Report want to take a moment to thank you for being part of our journey. This holiday season is not just a time for reflection but a chance to refocus on the opportunities ahead and celebrate the memories from 2024 that brought us here.

At Trend Report, we strive to bring a competitive edge to our readers as you map out your goals for 2025. Thank you for choosing us as your trusted partner.

In the Best of Trend for 2024, we acknowledge 2024 was pretty good, but the best is yet to come.

In January 2024, Judy Lowe started the year on a perfect note in The Power of Real Estate: Catalyst for Regional Prosperity. As Judy says, “The economic impact of the real estate industry in Southern Arizona is undeniable.”

In our February Finance issue, Sandra Barton expanded on forces shaping Tucson’s commercial real estate in Charting the Course for Southern Arizona’s Commercial Real Estate Landscape. We’ve added to this a brief summary of the U.S. Real Estate Market Outlook 2025 from CBRE Research.

Last March, when Jeremy Sharpe wrote Why I’m Bullish on Housing in 2024 caused some to raise an eyebrow, so we’ve followed up with the permit numbers for 2024 that show a 20% increase Y-O-Y, courtesy of Bright Future and RL Brown Reports.

In the April issue, Tucson Hits the “Jackpot” with New Casino on Pascua Yaqui Land by Veronica Otero Escobar, brought us inside the construction of the first casino being built inside Tucson City Limits.  If that’s not enough, we added the top 6 retail sales over $10 million to celebrate.

For our May issue, Max Fisher wrote Tucson’s Industrial Real Estate Market Direction Determined by Inflation, and truer words were never spoken.  We had only 3 industrial sales over $10 million during this period.

When we reached June, Susan Hyatt Dumon with Sun Corridor brought us Economic Development: Team Sport—Regional Sport. Then in December, Sun Corridor and Tucson Metro Chamber announced a merger of the two organizations for 2025, an exciting change that will better position our region’s efforts.  We are celebrating this new solution!

In our mid-year July issue, George Hammond confirmed Arizona’s Economy: Steady As She Goes, slow but steady growth.

Then, in August, our Hospitality & Tourism issue, Randi Dorman brought us an exclusive on an exciting new development downtown in NEW Tucson Gastronomy Collective: A Culinary Journey, as we get ready to mark the 10^th Anniversary of Tucson’s City of Gastronomy designation.

By September and our multifamily issue, we thought we had to answer questions on everyone’s mind. Scott Stovall did this in The Fed Only Cracks Open the Rate Door in 2024. We had 6 Multifamily sales over $10 million for the period.

October was our Office issue and Philip Skillings shared in West Coast Capital Partners Elevates Williams Center Office Experience how Willaims Center is being transformed.  We’ve added the Top 5 office sales over $10 million.

Then, in November we tackled for the first time the subject of regional infrastructure with help from Lea Marquez Peterson in Arizona Corporation Commission: Infrastructure, Balancing Growth and Energy  and others who unfolded the struggles of keeping up with progress and prosperity.

For the year-end December issue, we wanted to celebrate some of the noteworthy anniversaries and were thrilled when Melissa Lal and George Larsen were willing to bring us the inside scoop on a new Walmart Supercenter, the first in 15 years for Tucson, in Clean Up on Aisle 13! 35th Anniversary for Tucson Place.

We were then inspired to share 12 Construction Projects to Watch in 2025!

A sincere thank you to everyone who participated in this Trend Report issue! We could not do it without you!

As always, we are grateful for the Trend Report team: Patti van Leer, Michael Rossmann, Melissa Vucijevic, and Jack Paddock.

Work has already begun on our much anticipated “Finance” issue. You won’t want to miss it – and here’s to an even more prosperous year ahead for all!

As always, we appreciate your feedback and welcome your comments. Come tell us “Hi” at https//trendreportaz.com under the “Connect tab.”

Stay Sharp with Actionable Insights!

Karen Schutte, Editor