TUCSON, AZ (March 4, 2025) — Rick Borane of VOLK Company represented the buyer on a freestanding retail/warehouse building at 5335 E 29th Street in Tucson. The office, showroom, and mezzanine building, which has 3 grade-level roll-up doors, was built in 1994. It is 12,611 square feet and has 25 parking spaces on a 40,000-square-foot lot west of Craycroft Road.

The asset sold for $1,150,000 ($91 PSF).

The seller, Parker Enterprises, Ltd. of Frisco, TX, was represented by Michael Cortez of Commercial Real Estate Group of Tucson.

The buyer, HDB Properties, plans to use a portion of the property for personal storage and lease the remainder of the building.

For more information on this sale, Cortez can be reached at 520.299.3400, and Borane is at 520.326.3200.

To learn more, subscribers can refer to RED Comp #11747.

TUCSON, ARIZONA, (March 3, 2025)  — Highlighted this week is an industrial lease to Tankhouse Innovations, handled by Max Fisher of BRD Realty.

The following leases were reported to Real Estate Daily News from February 24-28, 2025.

OFFICE/WAREHOUSE – 1020 S EUCLID, TUCSON, 85719 – Central Submarket
Tankhouse Innovations leased 7,500 square feet of office/warehouse from Rich Rodgers South Inc. at 1020 S Euclid. Max Fisher, BRD Realty handled this transaction.

RETAIL – MAIN GATE SQUARE, 800 E UNIVERSITY AVE, TUCSON, 85719 – Central Submarket
HeeMee Coffee & Pastries leased 2,828 square feet of retail space at Main Gate Square, 800 E. University Ave., Suite 104 in Tucson, from Marshall Foundation. Greg Furrier and Natalie Furrier, Retail Specialists with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – PALO VERDE BUSINESS CENTER, TUCSON, 85714 – South Submarket
AdaptHealth Patient Care Solutions, Inc. leased 2,364 square feet of industrial space at Palo Verde Business Center, 3860 S. Palo Verde Rd., Suite 317-318 in Tucson, from Pegasus Tucson Owner LLC. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE/ WAREHOUSE – 8101 E RESEARCH COURT, TUCSON, 85710 – East Submarket
Lloyd’s Detailing leased 2,284 square feet of office/warehouse from Research Investors LLC at 8101 E Research Court Suite 115. Max Fisher, BRD Realty handled this transaction.

OFFICE/WAREHOUSE – 1040 S EUCLID, TUCSON, 85719 – Central Submarket
Rippie Products leased 1,975 square feet of office/warehouse from Rich Rodgers South Inc at 1040 S Euclid. Max Fisher, BRD Realty handled this transaction.

RETAIL – 3710 W. OVERTON RD., TUCSON, 85742 – Northwest Submarket
The last two vacancies at 3710 W. Overton Rd. in Tucson have been leased after sixteen years of vacancy since its construction during the Great Recession. Tutuli Fitness, LLC dba FitCultr Gym and Fyzical Therapy & Balance Centers will each occupy +/—1,800 SF. Batoun Herrington, CCIM, with Branel Real Estate Company, represented the landlord. Dave Dutson with NAI Horizon, Inc. represented FitCultr, and Peter McQuaid of McQuaid Real Estate represented Fyzical Therapy & Balance Centers.

OFFICE – 2828 N COUNTRY CLUB RD, TUCSON, 85716 – Central Submarket
Thrive Path PLLC leased 968 square feet of office space at 2828 N. Country Club Rd., Suite 101 in Tucson, from Hazen Enterprises, Inc., AEH Investors III, LLC, and PMH Investors III, LLC. Jason Shaltiel, Office Specialist with Cushman & Wakefield | PICOR, represented both parties.

INDUSTRIAL – MIDWAY BUSINESS PARK, TUCSON, 85712 – Northeast Submarket
Desert Sunset Products & Services LLC dba Cartridge World Tucson leased 800 square feet of industrial space at Midway Business Park, 4500 E. Speedway Blvd., Suite 75 in Tucson, from Pegasus Tucson Owner LLC. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE – 2231 N INDIAN RUINS RD., TUCSON, 85715 – Northeast Submarket
Property Heroes LLC leased 655 square feet of office space at 2231 N. Indian Ruins Rd., Suite 7 in Tucson, from Ozam Investments, LLC. Molly Mary Gilbert, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.

RENEWALS

INDUSTRIAL – SOUTH DODGE BUSINESS CENTER, TUCSON, 85713 – South Submarket
Photonics Automation Specialties LLC renewed its lease with Pegasus Tucson Owner LLC for 2,525 square feet of industrial space at South Dodge Business Center, 3671 E. 44th St. in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – CLAIREMONT PLAZA, TUCSON, 85710 – East Submarket
Carlos P. Gandara renewed their lease with Pegasus Tucson Owner LLC for 2,180 square feet of industrial space at Clairemont Plaza, 1660 S. Research Loop, Suite 110 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – SOUTH DODGE BUSINESS CENTER, TUCSON, 85713 – South Submarket
Jose Lopez dba Don Jose Polishing renewed its lease with Pegasus Tucson Owner LLC for 1,950 square feet of industrial space at South Dodge Business Center, 3621 E. 44th St., Suites 2, 3, & 13 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – SOUTH DODGE BUSINESS CENTER, TUCSON, 85713 – South Submarket
Donald B. Soncrant dba Furniture Medic renewed its lease with Pegasus Tucson Owner LLC for 1,800 square feet of industrial space at South Dodge Business Center, 3210 S. Dodge Blvd., Suite 9 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – BUTTERFIELD BUSINESS PARK, TUCSON, 85714 -South Submarket
Tradesmen International, LLC renewed its lease with Pegasus Tucson Owner LLC for 1,720 square feet of industrial space at Butterfield Business Park, 4555 S. Palo Verde Rd., Suite 105 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – EXCHANGE PLACE, TUCSON, 85705 – Central Submarket
Coronado Engineering & Development, Inc. renewed its lease with Pegasus Tucson Owner LLC for 1,440 square feet of industrial space at Exchange Place, 1870 W. Prince Rd., Suite 33 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – SOUTH DODGE BUSINESS CENTER, TUCSON, 85713 – South Submarket
Sunbright Solar LLC renewed its lease with Pegasus Tucson Owner, LLC for 1,300 square feet of industrial space at South Dodge Business Center, 3250 S. Dodge Blvd., Suite 8 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – CLAIREMONT PLAZA, TUCSON, 85710 – East Submarket
Connected AZ LLC renewed its lease with Pegasus Tucson Owner LLC for 1,200 square feet of industrial space at Clairemont Plaza, 1684 S. Research Loop, Suite 522 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – RUTHRAUFF COMMERCE CENTER, TUCSON, 85705 – Central Submarket
Evenbetternow LLC renewed its lease with Pegasus Tucson Owner, LLC for 880 square feet of industrial space at Ruthrauff Commerce Center, 2430 W. Ruthrauff Rd., Suite 100 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

Submit sales and leases to REDailyNews@outlook.com.

TUCSON, AZ (March 3, 2025) — The Residential Development Trends issue of Trend Report is out; here are the Editor’s Insights. The housing market has been anything but predictable. Prices shot up, mortgage rates followed, and buyers wondered if they’d ever catch a break.

If you think a crash is coming, it’s not happening. The Federal Home Loan Mortgage Corporation expects home prices to rise in 2025, not fall. The housing market isn’t built like the 2008 disaster.

Crashes happen when there’s an oversupply of homes and no one buys them. That’s not the case in 2025. If anything, buyer demand is holding strong, keeping prices propped up.

The only way we’d see a serious downturn is if there were a massive wave of foreclosures, which isn’t in the cards. If affordability is your concern, focus on increasing your income and saving aggressively because waiting for a crash that won’t come is a losing bet.

I just returned from the SAHBA / LAO 2025 Tucson Land & Housing Forecast on February 27th, and I learned to expect our housing market to remain strong into 2030.

Also, from the Land Forecast, Will White reports on Tucson’s Land & Housing Market: Challenges and Opportunities 2025

The City is considering loosening zoning restrictions to increase housing supply, which might help slow down price growth. Daniel Bursack of the City of Tucson Planning and Development Services Department tells us the city is currently short 8,747 housing units, with 4,717 of these needed by homeless individuals. Promoting Housing and Mixed-Use Development Through the Proposed Community Corridors Tool (CCT). Please take the time to watch the video here.

In Emerging Residential Development Trends in Pima County, our Pima County Assessor, Suzanne Droubie, explains how her department works to attract new businesses to Pima County with 5-year valuation projections intended to help local businesses, investors, and homeowners make informed decisions with projected property tax liability.

Cole Williamson with Fairfield Homes, a new contributor to Trend, updates us on Boulder Canyon in the Future of Residential Development: Trends Shaping 2025 and Beyond.

“Over 1,000 New Homes Coming to Rancho Sahuarita in 2025”  is an exciting announcement from Jeremy Sharpe, Managing Partner of Rancho Sahuarita. The rapid growth of this community, including Sahuarita Town Center, is truly astounding!

The supply of homes remains tight, especially in high-demand areas where new construction isn’t keeping up.

Thanks to RL Brown Reports for the SFR Permit Volume report by Municipality in the Tucson MSA.

We also thank the Trend Report staff for compiling the Apartment Trends in Metro Tucson of 40+ Unit Apartment Properties for Q4 2024.

Thanks to Nick Miner, CCIM, for the Special Report in the 2025 Southern AZ CCIM Forecast: Insights and Trends Recap from the So AZ CCIM Forecast event held February 10, 2025.

The market isn’t crashing, and mortgage rates aren’t dropping to rock-bottom levels. Home prices are steady, inventory is improving but still tight, and buyer demand remains strong. Trend Report Staff compiled a Synopsis of What the Experts Are Saying about Arizona’s Housing Market, Housing Market Prediction for 2025 and 2026 per NAR Chief Economist, Lawrence Yun and Zillow Weighs in on Housing Predictions for 2025: What Buyers and Sellers Can Expect to round things out.

Thank you to everyone who participated in this Trend Report issue. We could not have done 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 April “Retail” issue.

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