Mavin Capital Acquires Tucson AutoZone at Sorrento Square

AutoZone

TUCSON, ARIZONA (July 21, 2026) — Mavin Capital LLC of Tucson purchased the freestanding AutoZone property at 10210 E. Golf Links Road in Tucson from Payless Prudence Properties LLC, an affiliate of Larsen Baker, for $975,000.

The sale price equates to approximately $143 per square foot and closed on June 4th.

The 6,818-square-foot retail building sits on an 18,438-square-foot pad within the Sorrento Square shopping center near East Golf Links and South Houghton roads. Constructed in 2017, the property is occupied by AutoZone Store No. 3682 under a long-term ground lease and was sold as an investment.

Isaac Figueroa, CCIM, SIOR, with Larsen Baker represented the seller and handled the transaction.

The property is located in Tucson’s East submarket near Walmart Supercenter, Northwest Medical Center Houghton and surrounding retail and residential development.

For more information, Figueroa can be reached at 520.296.0200 ¦ Ext. 218.

Source: RED Comp #12536.

 

 




CBRE: Tucson Industrial Market Regains Momentum as New Supply Pushes Vacancy Higher

Tucson Industrial

TUCSON, AZ (July 21, 2026) — Tucson’s industrial market returned to positive absorption during the second quarter of 2026, although recently completed projects and tenant move-outs over the past year continued to place upward pressure on vacancy, according to CBRE’s latest market report.

The metro recorded 48,651 square feet of positive net absorption during the quarter, reversing the approximately 220,000 square feet of negative absorption reported in the first quarter. The improvement marked a welcome change after several uneven quarters, but it was not enough to offset the 171,000 square feet of negative absorption accumulated during the first half of the year.

Overall industrial vacancy increased to 9.0%, up from 8.8% in the previous quarter and 4.4% one year earlier. Tucson’s vacancy rate has now climbed 630 basis points from the 2.7% recorded in the second quarter of 2023, reflecting the market’s transition from historically tight conditions to a period of greater tenant choice.

Availability, which includes space expected to become available within six months, reached 10.7%. Sublease vacancy remained minimal at just 0.1%, indicating that most of the available space is being marketed directly by property owners rather than by tenants.

Despite the increase in vacancy, asking rents continued to rise. The average direct asking rate reached $0.83 per square foot per month, triple net, representing a 3.8% increase from the first quarter and a 13.7% gain from the same period last year. Average rents remain below the market’s recent peak of $0.94 per square foot recorded in early 2024.

Vacancy and rental conditions varied considerably by submarket. West Central posted the lowest vacancy rate at 1.8%, followed by East Central at 2.5% and Northeast at 3.5%. The Airport submarket recorded the highest vacancy at 12.0%, followed by Southeast at 10.7% and Southwest at 8.0%.

The Airport submarket nevertheless led Tucson in quarterly demand, recording 50,000 square feet of positive net absorption. Northwest followed with 30,000 square feet, while Southwest added 10,000 square feet. Southeast and East Central reported smaller gains.

West Central was the only submarket to post a significant quarterly loss, with 47,000 square feet of negative net absorption.

By property type, research and development and flex space generated the strongest quarterly performance, with 48,000 square feet of positive absorption. General manufacturing recorded 19,000 square feet, while distribution and logistics properties posted 15,000 square feet of negative absorption.

The distribution and logistics category, which accounts for approximately 23.47 million square feet of Tucson’s 43.52-million-square-foot industrial inventory, also carried the market’s highest major product vacancy rate at 11.4%.

Smaller industrial buildings remained the tightest segment of the market. Properties containing less than 50,000 square feet posted a vacancy rate of only 2.3%, compared with 17.9% among buildings ranging from 100,000 to 249,999 square feet. The contrast demonstrates that smaller functional spaces remain difficult to replace even as availability has increased among larger warehouses.

Leasing activity slowed during the quarter, with approximately 97,000 square feet leased. That represented a 57.1% decline from the first quarter and a 59.2% decrease from the second quarter of 2025.

Southeast accounted for 36.7% of recorded leasing activity, followed by Northwest at 32.5%, Airport at 25.7% and Southwest at 5.1%.

Among the quarter’s largest transactions, NEFCO leased 24,000 square feet at 2567 E. Commerce Center Plaza, and Freeport Minerals leased 17,000 square feet at 3231 E. Valencia Road. Semper Fi Heating and Cooling leased 12,000 square feet at 2155 N. Forbes Blvd., while VXI Global leased 10,000 square feet at 4755–4775 S. Butterfield Drive.

Development activity has contracted substantially from its recent peak. Approximately 315,000 square feet was under construction at the end of the second quarter, down 74% from one year earlier and well below the 1.3 million square feet underway during the second quarter of 2023.

All current construction is concentrated in a single Southeast warehouse-and-storage project at 9688 E. Old Vail Road, which is scheduled for completion in the fourth quarter.

CBRE said Tucson’s broader economic fundamentals remain supportive despite higher interest rates and national economic uncertainty. Population growth, relative affordability, available land and continued investment in semiconductor and advanced manufacturing operations are expected to support long-term industrial demand.

The market may also benefit from companies seeking lower operating costs or alternatives to Phoenix, particularly as elevated borrowing costs constrain speculative development in larger metropolitan markets.

For the near term, however, Tucson’s industrial sector remains in a period of adjustment. Positive second-quarter absorption and rising rents point to continued tenant demand, but elevated vacancy, modest leasing activity, and negative year-to-date absorption indicate that the market will need additional growth to work through recently added supply.Tucson Industrical Figures Q2

Read the full report here




Coronado National Forest Acquires 694 Acres Near Oracle for $2.08 Million

Coronado National Forest
Charouleau Gap Trailhead Camp

ORACLE, AZ (July 17, 2026) — The Coronado National Forest has acquired 693.77 acres near Oracle in the northern Santa Catalina Mountains for $2.08 million.

The transaction equates to approximately $2,998 per acre and represents the largest addition to the Coronado National Forest in 20 years.

Trust for Public Land facilitated the acquisition through a two-step transaction. The nonprofit acquired the privately owned property for $2.08 million in April 2026, then conveyed it to the U.S. Forest Service, c/o Coronado National Forest, for the same amount on July 1, 2026.

The property is located within the Coronado National Forest boundary and includes rolling grasslands, oak woodlands, and access to Charouleau Gap Road, also known as National Forest System Road 736.

The acquisition permanently preserves one of the largest remaining privately held properties within the forest and secures public access to recreational areas used for hiking, camping, hunting, wildlife viewing, and motorized recreation.

The property contains 693.77 acres according to public records, although Trust for Public Land and the Forest Service rounded the acquisition to approximately 695 acres in public announcements.

The land was previously considered for residential development. Plans proposed in 2006 reportedly called for as many as 260 homes and a new access road from State Route 77 (Oracle Road). The development did not move forward, and the property returned to the market in 2022.

Funding for the acquisition came from the federal Land and Water Conservation Fund, which is permanently funded through the Great American Outdoors Act.

The transaction involved Trust for Public Land, the Coronado National Forest, Pinal County, and several conservation and outdoor recreation organizations.

In addition to protecting the acquired acreage, the transaction improves access to approximately 12,000 acres of surrounding national forest land between Oracle and SaddleBrooke.

The property lies within the original Santa Catalina Forest Reserve, which was established in 1902 and later became part of the Coronado National Forest.