TUCSON, AZ (March 16, 2026) — A total of 39,979 square feet of leases and renewals were reported for the Tucson Lease Report this week, including 17,842 square feet of industrial space, 13,766 square feet of office space, and 8,371 square feet of retail space. The top industrial transaction was Epstein Construction, LLC’s 8,877-square-foot lease at Butterfield Technology Center, represented on the landlord side by Isaac Figueroa of Larsen Baker, LLC, and Robert C. Glaser, SIOR, CCIM, of Cushman & Wakefield | PICOR. The top office transaction was RBC Capital Markets LLC’s 10,991-square-foot renewal at Foothills Corporate Center, with Richard M. Kleiner, Alexis Corona, and George Donovan representing the tenant and Dave Volk representing the landlord. The top retail transaction was Bath & Body Works’ 3,185-square-foot lease at Rooney Ranch in Oro Valley, with Dave Hammack and Aaron LaPrise representing the landlord and Teale Bloom representing the tenant.

The following leases were reported to the Real Estate Daily News for the week of March 9-13, 2026.

NEW LEASES

INDUSTRIAL – BUTTERFIELD TECHNOLOGY CENTER, TUCSON, 85714 – SOUTH SUBMARKET
Epstein Construction, LLC leased 8,877 square feet of industrial space at Butterfield Technology Center at 4775 S. Butterfield Dr., Suite 149C in Tucson, from Butterfield Technology Center, LLC and Foodtown Development Company, LLC. Isaac Figueroa with Larsen Baker, LLC, and Robert C. Glaser, SIOR, CCIM, Principal, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – 2010 N. FORBES BLVD., TUCSON, 85745 – WEST SUBMARKET
Lightsense Technology leased 4,000 square feet of lab space from Forbes Investors LLC. Bob Davis of Tango Commercial Real Estate represented the tenant, and Max Fisher of BRD Realty represented the landlord.

RETAIL – 10565 N. ORACLE RD., SUITE 155, ORO VALLEY, 85737 – NORTHWEST SUBMARKET
Bath & Body Works leased 3,185 square feet of retail space at Rooney Ranch from Rooney Ranch D, LLC. Dave Hammack and Aaron LaPrise, Principals, Retail Specialists with Cushman & Wakefield | PICOR, represented the landlord. Teale Bloom with Phoenix Commercial Advisors represented the tenant.

RETAIL – 3755 E. 34TH ST., SUITE 119, TUCSON, 85713 – SOUTH SUBMARKET
The Grey House Antiques leased 1,400 square feet of office/warehouse space from Rodgers Investment Fund II LP. Max Fisher of BRD Realty handled the transaction.

INDUSTRIAL – 1687 W. GRANT RD., SUITE 104, TUCSON, 85745 – WEST SUBMARKET
Arizona Dryout leased 1,375 square feet of office/warehouse space from Grant Investors LLC. Max Fisher of BRD Realty handled the transaction.

RETAIL – 6546 E. TANQUE VERDE RD., SUITE 130, TUCSON, 85715 – NORTHEAST SUBMARKET
Ascend Staffing leased 1,320 square feet of retail space at La Plaza Shoppes from the landlord. Isaac Figueroa, CCIM, SIOR, of Larsen Baker represented the landlord and handled the transaction.

RETAIL – 12080 N. DOVE MOUNTAIN BLVD., SUITE 180, MARANA, 85658 – NORTHWEST SUBMARKET
Saguaro Flooring LLC leased 1,277 square feet of retail space at Dove Mountain Centre from Dove Mountain I LLC and Dove Mountain II LLC. Shannon Murphy and Kaitlyn Sump of CBRE represented the tenant. Paige Keefer and Brian Harpel of Velocity Retail Group represented the landlord.

INDUSTRIAL – 7941 E. LAKESIDE PKWY., SUITE 115, TUCSON, 85730 – EAST SUBMARKET
Zaragoza leased 1,200 square feet of office/warehouse space from Lakeside BP LLC. Max Fisher of BRD Realty handled the transaction.

INDUSTRIAL – 227 E. VALENCIA RD., SUITE 255, TUCSON, 85706 – CENTRAL SUBMARKET
Mass Fabrication leased 990 square feet of office/warehouse space from VCC Investors LLC. Max Fisher of BRD Realty handled the transaction.

RENEWALS

OFFICE – 3430 E. SUNRISE DR., SUITE 250, TUCSON, 85718 – NORTHEAST SUBMARKET
RBC Capital Markets LLC renewed its lease for 10,991 square feet of office space with Foothills Corporate, LLC. Richard M. Kleiner, MBA, Principal, and Alexis Corona, Office Specialists with Cushman & Wakefield | PICOR, along with George Donovan with Cushman & Wakefield, represented the tenant. Dave Volk with Volk Company represented the landlord.

OFFICE – 3275 W. INA RD., SUITE 109, TUCSON, 85741 – NORTHWEST SUBMARKET
Knight Piesold and Co. renewed its lease for 2,775 square feet of office space at Ina Corporate Center with CALDOR Investments of Arizona, LLC. Thomas J. Nieman, Principal, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.

RETAIL – 3122 N. CAMPBELL AVE., SUITE 150, TUCSON, 85719 – CENTRAL SUBMARKET
GOLFTEC renewed its lease for 2,589 square feet of retail space at Copper Plaza. Dave Hammack, Principal, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord.

Submit sales and leases to [email protected].

PHOENIX, AZ (March 16, 2026) — IKEA has included Phoenix, Arizona, on its list of 10 new U.S. locations opening this year, reinforcing the retailer’s continued expansion in the Valley with what will become its third Arizona location. The new store is planned for Village Square II, 4643 E. Cactus Road, near Cactus Road and Tatum Boulevard, in a strong north Phoenix trade area across from the former Paradise Valley Mall redevelopment.

Phoenix appears alongside Culver City, California; Tulsa, Oklahoma; Gurnee Mills, Illinois; Fort Collins, Colorado; Huntsville, Alabama; University Park, Texas; Rockwall, Texas; Chantilly, Virginia; and Webster, Texas on IKEA’s current list of stores expected to open this year. For Arizona, the addition further expands IKEA’s reach beyond its established Tempe store and its Scottsdale format.

Unlike IKEA’s traditional warehouse-style big-box model, the planned Phoenix location is a 75,000-square-foot small-format store. IKEA has said the location will offer about 3,000 take-home items and roughly 75 small furniture pieces for immediate purchase, while larger furnishings will be available for delivery or pickup through its omnichannel model. The concept reflects IKEA’s broader strategy of moving closer to customers in dense, high-traffic trade areas with smaller, more flexible store footprints.

From a real estate perspective, the Phoenix store highlights the kind of characteristics IKEA appears to value in its current expansion model. While the company does not publish a formal public checklist of store requirements, its site choices suggest a preference for large infill spaces, high-visibility arterial locations, strong surrounding rooftops and demographics, easy vehicle access, and centers that can support both walk-in traffic and order fulfillment. The north Phoenix site checks many of those boxes, placing IKEA in a mature trade area with strong household density and redevelopment momentum nearby.

The announcement also underscores a broader retail trend: nationally recognized brands are increasingly using smaller-format stores to penetrate established urban and suburban submarkets where a traditional full-size prototype may not be the best fit. In Phoenix, IKEA’s move adds another major retail draw to the north-central Valley, and signals continued confidence in the market’s long-term consumer growth.

ORO VALLEY, AZ (March 16, 2026)— A new family dining concept has opened this month at the Oro Valley Marketplace, bringing fresh activity to a prominent restaurant building that had been vacant since 2024. Happy Joe’s Pizza & Ice Cream has opened at 11695 N. Oracle Road, backfilling the former Red Lobster restaurant space at the regional shopping center owned by Town West Realty. The new restaurant occupies a 7,300-square-foot freestanding building and marks the brand’s first Southern Arizona location.

The site had been vacant since May 2024, when Red Lobster’s Oro Valley restaurant closed during the chain’s nationwide shutdown of dozens of underperforming locations. Oro Valley’s June 2024 executive report listed Red Lobster among the town’s business closures, confirming the end of the prior tenant’s run at the property.

Happy Joe’s announced the Oro Valley restaurant in December 2025, describing it as a new Arizona entry for the Iowa-based pizza and ice cream brand. The company said the location would feature its updated family-entertainment prototype, including dine-in service, a game room, a party space, a patio fire pit, and a golf simulator. QSR Magazine reported that the restaurant opened in March 2026, giving Oro Valley Marketplace a new family-oriented dining-and-entertainment use in a highly visible Oracle Road location.

For Oro Valley Marketplace, the opening is another example of restaurant box reuse in a center with more than 521,000 square feet of retail space across roughly 100 acres. Large second-generation restaurant buildings can be difficult to reposition after a national chain closure, making the backfill of the former Red Lobster space a notable win for the property. The arrival of Happy Joe’s adds a new experiential dining concept to the center and brings fresh activity to one of the marketplace’s outparcel restaurant locations.

Located along the busy Oracle Road corridor in Oro Valley, the project also reflects the continued value of well-located restaurant real estate in northwest metro Tucson, particularly when an existing building can be adapted for a new operator rather than remaining dark for an extended period. In this case, a vacancy created by a national restaurant retrenchment has been turned into a first-to-market opening for a brand entering Southern Arizona.