TUCSON, AZ (December 19, 2025) — A trio of owner-user real estate transactions closed in early December underscores continued demand for well-located commercial properties across multiple Tucson submarkets, with buyers ranging from a regional credit union to medical and industrial owner-occupants.

In the Northwest submarket, Idaho Central Credit Union acquired a former Bank of America branch located at 12132 N. Rancho Vistoso Boulevard in Oro Valley for $2.3 million ($514.20 PSF). The 4,473-square-foot retail building, constructed in 2004 and situated on 0.86 acres within Safeway Vistoso Plaza, sold at $514.20 per square foot. The property includes 27 parking spaces and three drive-thru lanes and was purchased for owner-occupancy. The seller was Vistoso Plaza II LLC, an affiliate of Brentwood Developments (California) Fund III. CBRE’s David Montijo represented the buyer, while Tyler Griffith of Kidder Mathews handled the listing.

In central Tucson, a medical office condominium at 1601 N. Tucson Boulevard, Suite 18, sold for $390,000 ($144.12 PSF) in an owner-user transaction. The 2,706-square-foot office was originally built in 1953. The buyer, 1601 N Tucson Blvd 18 LLC, acquired the space for owner-occupy under the management of Surekha Bandlamuri, MD. The property features multiple exam rooms, lab space, and recent capital improvements, including a new roof installed in 2025 with a transferable warranty. CBRE’s John Ash and Bruce Suppes represented the buyer, while Chris Tsighis and Veronica Lawson of Coldwell Banker Realty represented the seller, the Michael E. and Eline I. Duperret Family Trust.

In the Northeast submarket, Pimar LLC purchased the Wildcat Heating and Cooling facility at 4699 E. Pima Street for $390,000 ($206.35 PSF). The 1,890-square-foot industrial building, constructed in 1971 and located on 0.24 acres. The buyer had previously occupied the property as a tenant and completed the purchase to owner-occupy the site, which includes office space, a grade-level roll-up door, ten parking spaces, and a fenced yard. CBRE’s David Montijo represented the seller, The Renee Hobeich Revocable Trust, while Kristy Kelley of Bright Properties represented the buyer.

Collectively, the transactions reflect continued confidence among owner-users seeking long-term control of real estate across retail, office, and industrial product types, particularly in established Tucson corridors with strong neighborhood fundamentals.

Source: RED Comps #12235, #12238, and #12242.

TUCSON, AZ (December 19, 2025) — The Baffert at Five Points, a mixed-use project at 747 S. 6th Ave. in Tucson’s historic Five Points district, has completed lease-up of its last remaining first-generation commercial suite with the signing of Revive Hair Lounge. The newly leased space totals approximately 1,380 square feet, according to the leasing announcement. Leasing for The Baffert at Five Points is handled by Batoun Herrington, CCIM, CPM of Branel Real Estate Company.

The property includes 14 apartment units, approximately 5,400 square feet of street-level commercial space, and underground parking.

The lease-up milestone caps a multi-year repositioning effort at one of Tucson’s most recognizable intersections—where Stone Avenue and Sixth Avenue converge near downtown and the historic barrios. The Baffert is a neighborhood revitalization project that will bring new residential and locally oriented commercial uses to the corner, including restaurants and specialty food operators.

A local-focused mix at Five Points

Current and recently announced tenants at The Baffert include Casa Madre Restaurant, Ugly But Honest Pizza, and Forbes Meat Company, which have been highlighted as early anchors for the project’s retail component. In earlier reporting about the project’s origins, Tucson Foodie noted that the underlying properties and land for the development—along with the historic Clyde Wanslee Motors building and the “Ugly But Honest” sign—were purchased in 2015 by Larry and Rebecca Kappler (along with their son, Karl Kappler), with the family describing a goal of connecting downtown energy with the cultural richness of South Tucson through quality space for local businesses.

On the residential side, marketing and leasing materials indicate the apartment component is fully leased, underscoring strong demand for new product in the Five Points area.

Forbes expansion signals continued momentum

As the project’s tenant mix matures, Forbes Meat Co. has announced expansion plans, noting that its building permit has been approved and that it is moving forward with the expansion, which is expected to add roughly 1,000 square feet.

Revive Hair Lounge: veteran-owned salon targeting March 2026 opening

Revive Hair Lounge will introduce a contemporary, desert-inspired salon concept to the project, offering premium hair services including lived-in color, blonding, luxury extensions, smoothing treatments, and precision cuts, in a boutique setting designed to feel both elevated and welcoming, according to the owners’ statement.

The business is owned by husband-and-wife team Zachary and Krystle Alexander and is described as a service-disabled veteran-owned business. Revive has communicated a target opening of March 2026.

In a statement, Zachary Alexander said the couple wanted a location “truly part of the fabric of the community—something integrated, locally rooted, and owned by Tucsonans,” rather than a conventional strip-center setting.

The Alexanders also framed the salon’s mission around confidence and community connection:

“Revive was built on the idea that confidence is one of the greatest gifts you can give someone. Tucson has given our family so much, and we’re honored to bring a modern, desert-inspired salon experience to the historic Five Points community.”

Krystle Alexander added:

“Doing hair has always been about helping people feel like the most confident version of who they already are… Creating those moments in a neighborhood as authentic as Five Points means everything to me.”

With Revive’s lease finalized, The Baffert’s commercial spaces are now fully committed—marking a key milestone for a project that has become a visible part of the ongoing evolution of the Five Points corner.

Tucson, AZ (December 19, 2025) — The January issue of Trend Report is out today.  As the Editor’s Insight reflects on 2025, one theme stands out: this was not a year defined by speed or spectacle, but by discernment. Across Southern Arizona’s commercial real estate landscape, capital slowed, underwriting sharpened, and decision-making became more deliberate. The result was not stagnation, but clarity.

This issue of Trend Report captures that shift. From lending markets recalibrating after years of volatility to land, industrial, retail, and multifamily sectors finding firmer footing, 2025 rewarded those who focused on fundamentals, execution, and long-term vision. The professionals and projects featured here did not wait for conditions to improve; they adapted, restructured, and moved forward with purpose.

That same philosophy underpins the 2025 Best in Class Influencers Awards, which recognize commercial real estate professionals whose performance, leadership, and credibility consistently set the standard across Southern Arizona. The awards are based on verified sales-volume performance from October 2024 through September 2025, paired with demonstrated professionalism, integrity, and meaningful influence in the marketplace.

2025 Best in Class Influencer Award recipients are:

• Industrial: Erik Chapman, CCIM, CPM, and Nicholas Travassos, CCIM, MRED, Chapman Management Group
• Retail: Jeramy Price, VOLK Company
• Office: Rick Kleiner, Cushman & Wakefield | PICOR
• Multifamily (Under 100 Units): Allan Mendelsberg and Joey Martinez, Cushman & Wakefield | PICOR
• Multifamily (Over 100 Units): Clint Wadlund and Hamid Panahi, IPA – Institutional Property Advisors
• Residential Land: Will White and John Carroll, Land Advisors Organization
• Industrial Land: Steve Cohen, Cushman & Wakefield | PICOR
• Commercial Land: Brenna Lacey, VOLK Company

In a year when deals required more creativity, more patience, and more precision, these honorees distinguished themselves not simply by volume, but by execution. Many of the transactions completed during this period involved layered capital structures, entitlement challenges, distressed assets, or prolonged timelines—circumstances that demanded credibility, trust, and deep market knowledge.

This year also marks an important milestone with the inaugural CCIM Dealmaker Awards, a new recognition program from the CCIM Institute honoring exceptional individual transactions across major property categories. Submissions were evaluated based on deal size and market significance, complexity and challenges overcome, innovation in deal structure, and overall economic and community impact.

Tucson-area CCIM Dealmaker Award recipients include:

• Industrial Investment: Erik Chapman, CCIM
• Retail (Ground Lease): George Larsen, CCIM
• Office Investment: Isaac Figueroa, CCIM, SIOR
• Retail Investment: Craig Finfrock, CCIM, CRX, CLS

The strong crossover between CCIM Dealmaker honorees and Trend Report’s Best in Class Influencers recipients is no coincidence. It reinforces a consistent theme we see year after year: the professionals driving the region’s most impactful transactions are the same leaders repeatedly recognized by their peers for excellence, insight, and integrity.

Throughout 2025, capital did not disappear—it became more selective. Investors were more disciplined. Lenders more analytical. Projects with clear strategies and strong fundamentals found traction, even in a higher-rate environment, while those without struggled to move forward. Multifamily stabilized rather than stalled. Industrial continued to attract long-term capital. Retail proved that when rooftops, traffic, and timing align, opportunity follows. Land, perhaps more than any other asset class, underscored the urgency of infrastructure investment and long-range planning.

As we pivot into 2026, the lessons of 2025 are clear. Markets reward preparation. Influence is earned through consistency. And leadership matters most when conditions are uncertain.

The professionals recognized in this issue are shaping not just transactions, but trajectories—setting standards for how Southern Arizona grows, invests, and evolves. Their work reminds us that real influence is not about reacting to the market, but about helping define what comes next. Our February issue will be “Finance Trends” and we’re still seeking contributors.

I extend my sincere thanks to all who share research and perspective with Trend Report, and to our production team—Patti vanLeer, Michael Rossmann, and Jack Paddock—for bringing each issue to life.

As we close the year, I also extend warm holiday wishes to our readers, contributors, advertisers, and industry partners. Wishing you a successful close to 2025 and a strong, opportunity-filled start to 2026.

Karen M. Schutte
Managing Editor, Trend Report