TUCSON, AZ (January 13, 2026) — A former Famous Sam’s freestanding restaurant building at 2048 E. Irvington Road in Tucson’s South submarket has sold for $1,000,000 ($167.34 PSF), positioning the property for adaptive reuse as an ISmile Dentistry office.

The 5,976-square-foot building (built 1986) sits on 1.04 acres within Centre Pointe Plaza. The site also includes 50 parking spaces.

McSpillers Holdings LLC, with Jeffrey R. Spillers as managing member,  purchased the property from Lauremar Inc., David Rhude, Director.  The transaction closed on December 15, 2025.

The property sold vacant, reflecting continued investor interest in well-located former restaurant real estate along the Irvington corridor, assets that can be repositioned for new users and service-oriented occupancy. The buyer plans to convert the building into an ISmile Dentistry office.

Rick Borane with VOLK Company handled the transaction. For more information, contact Borane at (520) 326-3200.

Source: RED Comp #12249.

TUCSON, Arizona, (January 12, 2026) — Bascom Arizona Ventures, LLC (BAZV), an affiliate of Irvine, California-based private equity firm The Bascom Group, LLC (Bascom), acquired the Retreat at Speedway, a 304-unit multifamily property located in Tucson, Arizona, for $53.4 million ($175,658 per unit).  The property was acquired by Bascom’s current fund offering, Bascom Value Added Apartment Investors VI, LLC, in one of the first sales of the new year, January 8, 2026.

Constructed in 2001 and positioned along Speedway Boulevard against the backdrop of the picturesque Catalina Mountains, The Retreat at Speedway benefits from proximity to the premier Catalina Foothills and access to major employment centers. The two-story, garden-style property offers residents spacious, open-concept one- and two-bedroom floor plans, along with a robust amenity package featuring a swimming pool and spa, a fitness center, and a clubhouse.

The Retreat at Speedway presents a compelling value-add opportunity, with new ownership planning a thoughtful capital improvement program designed to elevate everyday living through refreshed clubhouse spaces, enhanced pool, spa, and fitness areas, and upgraded residences.

This transaction marks BAZV’s first acquisition since February 2020.

“BAZV has remained disciplined and committed to sourcing the right opportunity to align with their business plan,” says Joe Daiutolo, Acquisitions Manager for BAZV. “This acquisition reflects our commitment to reinvesting in the community through a thorough renovation program designed to enhance the day-to-day resident experience while unlocking the property’s long-term potential.”

BrightSpire Capital Acquisitions, LLC, provided debt financing arranged by Brian Eisendrath, Cameron Chalfant, Jake Vitta, and Jesse Zarouk of Institutional Property Advisors (IPA) for the acquisition. Steve Gebing, Cliff David, Hamid Panahi, and Clint Wadlund of IPA advised the buyer and seller in the transaction. Arizona-based property manager Bryten Real Estate Partners will manage the property.

Bascom Value Added Apartment Investors VI, LLC (“Fund VI” or the “Fund”), which is sponsored by Bascom, launched a new offering of its securities pursuant to Rule 506(c) under the Securities Act of 1933, as amended. Fund VI focuses on acquiring apartment communities throughout the U.S. that can be repositioned through value-add renovations, management improvements, recovery from overleveraging and distress, or that are foreclosures trading at a significant discount. The Fund has been actively raising capital and acquiring property assets. The Fund currently owns six apartment properties with approximately $83 million of equity invested. The Fund is seeking to raise an additional approximately $70 million in equity for this offering. For questions regarding this Fund, please contact Chad Sanderson at 949-955-0888 (ext. 123) or Joe Ferguson at (ext. 120).

Chad Sanderson, Fund VI Manager states, “Fund VI is focused on building a diversified multifamily portfolio that emphasizes capital preservation, long-term value creation, and consistent cash flow. With property values resetting meaningfully across many markets and increased pressure on sellers, we see a favorable environment for deploying disciplined capital. The portfolio to date reflects that approach, with attractive investments across markets, asset types, and risk profiles.” Joe Ferguson, Vice President, adds, “The Retreat at Speedway is a good illustration of this dynamic. We are acquiring a well-located, institutional-quality property at a strong going-in yield, with clear value-add upside and a cost basis meaningfully below replacement cost, reflecting the types of attractive, risk-adjusted opportunities created by today’s pricing reset.”

Bascom Arizona Ventures, LLC (“BAZV”), a joint venture between Multifamily Advisors, LLC and The Bascom Group, LLC (“Bascom”), was formed to acquire transitional multifamily assets in the southwestern United States. BAZV, founded by Glenn Daiutolo, has completed more than $1.6 billion in multifamily transactions in Arizona, comprising 53 properties and totaling more than 16,700 units since 2004, including more than 5,000 units in Tucson. 

For additional information on Bascom, please visit bascomgroup.com.

Source: RED Comp #12299

TUCSON, AZ (January 12, 2026) — Plans are moving forward for a new Costco Wholesale on Tucson’s Southeast side at 9748 E. Old Vail Road, near Houghton Road, on a 22.35-acre vacant site at Rita Ranch Commerce Center.

City documents describe the project as a “destination retail store”,  a 158,000-square-foot Costco warehouse, and an associated fueling station. A pre-application filing for the site is already on record in the City of Tucson’s Property Research Online (PRO) system, described as “New Costco coming to the Area.”

Publicly circulated construction timelines indicate work could begin in January 2027 and be completed between June and September 2027.

On the public side, the City of Tucson has been evaluating a site-specific sales tax economic development incentive tied to the project. A Mayor & Council memorandum states that the incentive discussion is intended to provide the retailer’s site-selection team with “assurance of local support” through a sales tax reimbursement to offset public improvement costs associated with the development. The City materials describe the incentive as potentially reimbursing construction sales tax for qualifying public infrastructure improvements.

Early review notes indicate that substantial infrastructure and entitlement steps are needed. City engineering review comments state that a Traffic Impact Analysis will be required, along with a Private Improvement Agreement for additional lanes and potential right-of-way dedication for widening. Zoning review comments also note the site is zoned I-2 and that a large retail establishment in this zoning district requires approval through the City’s Mayor and Council Special Exception procedure, along with Design Review Board review.

Job estimates vary by source. The City memorandum anticipates approximately 250 full-time employees upon completion, while other City documents indicate possibly 173 full-time and 147 part-time positions.

Diamond Ventures is the current landowner and developer of Rita Ranch Commerce Center at this site.