Larsen Baker Partnership Acquires Rancho Vistoso Center in Oro Valley for $10.6 Million

ORO VALLEY, ARIZONA (June 5, 2026) — Larsen Baker, through its affiliate Vistoso Investment Partners, LLC, in partnership with Vistoso People, LLC as tenants in common, has acquired Rancho Vistoso Center, an 83,464-square-foot retail shopping center located at 12925–13005 N. Oracle Road in Oro Valley.

The property sold for $10.6 million, or approximately $127 per square foot, at an 8% cap rate based on the existing net operating income. The center is located on approximately 10.96 acres at the northeast area of Oracle Road and Rancho Vistoso Boulevard in Oro Valley’s northwest submarket. The property was built in 1995 and is zoned PAD, Planned Area Development.

Rancho Vistoso Center is anchored by Harbor Freight, Chase Bank, and Walgreens, along with a mix of national and local tenants. The center includes addresses at 12925, 12985, 12995, 13005, and 13023 N. Oracle Road.

The project also includes 18,000 square feet of available junior anchor space with a 22-foot clear height. The space may be leased as a single junior anchor space or divided into smaller shop spaces.

The seller was WCP Rancho Vistoso, LLC, c/o West Coast Capital Partners of Scottsdale. The buyer was Vistoso Investment Partners, LLC and Vistoso People, LLC, c/o Larsen Baker, LLC of Tucson.

Isaac Figueroa, CCIM, SIOR, with Larsen Baker represented the buyer. Pat Dempsey with JLL represented the seller.

For leasing information, contact Isaac Figueroa of Larsen Baker at 520.296.0200 ext. 218.

The sale closed June 1, 2026.

Source: RED Comp #12525.

KB Home Expands East Tucson Presence with Bella Tierra Horizon Opening and Carson School Site Acquisition

TUCSON, AZ (June 2, 2026) — KB Home is expanding its presence in Tucson’s eastside housing market with the opening of a new community at Bella Tierra and the acquisition of the former Carson Middle School property for future residential development.

KB Home announced the opening of Bella Tierra Horizon, a new-home community within the Bella Tierra master plan in East Tucson. The community is located on East Irvington Road between South Houghton Road and South Camino Seco and offers one-story single-family homes priced from the $390,000s.

Homes at Bella Tierra Horizon offer up to four bedrooms and two baths. The master-planned community includes eight parks with children’s playgrounds, ramadas, open space, walking trails, and dog parks.

Bella Tierra Horizon provides access to Interstate 10, downtown Tucson, Tucson International Airport, and major eastside employment centers, including UA Tech Park, Amazon’s distribution center, Davis-Monthan Air Force Base, and Pima Community College East Campus. The community is also near Lincoln Regional Park, Old Spanish Trail Marketplace, Houghton Town Center, and The Loop, Tucson’s 131-mile walking-and-biking path.

“With Bella Tierra Horizon, we’re bringing beautiful new homes to our highly desirable East Tucson master plan with a wide variety of community amenities,” said Amy McReynolds, President of KB Home’s Tucson division. “At KB Home, we focus on creating value through competitive, transparent pricing and giving buyers the ability to personalize their home based on what matters most to them. We put them in control, so they’re not paying for features they don’t value or compromising on ones they do.”

KB Home said its homes are designed to be energy and water-efficient and built to support healthier indoor environments. The company said its homes are designed to be ENERGY STAR® certified, a standard met by fewer than 12% of new homes nationwide.

Separately, KB Home Tucson purchased the former Carson Middle School property at 7777 E. Stella Road for $4,337,725. The 18.14-acre site includes an approximately 119,947-square-foot former school building constructed in 1977. The seller was Summit Development Services LLC, which had previously acquired the property from Tucson Unified School District for $3.1 million. The resale to KB Home was part of a double-escrow transaction.

KB Home is marketing the former school site as Carson Corner, a new residential community in East Tucson coming soon. The property is located near Pantano Road and Stella Road, surrounded by established neighborhoods and eastside retail and service corridors. A final platted lot count was not included in the reviewed sale information.

Craig Masters Investment LLC represented the seller in the Carson Middle School transaction. Andrew Gasparro, Director of Land Acquisitions, represented KB Home Tucson.

Together, the Bella Tierra Horizon opening and the Carson Corner acquisition point to continued builder interest in East Tucson, where established infrastructure, access to employment, and infill redevelopment opportunities are supporting new-home activity.

Source: RED Comp #12513.

Bascom Acquires Domain 3201 in Tucson for $45.5 Million

TUCSON, AZ (May 29, 2026) — Bascom Arizona Ventures, LLC, a subsidiary of Irvine, California-based The Bascom Group, acquired Domain 3201, a 289-unit garden-style multifamily community in Tucson, for $45.5 million, or $157,439 per unit.

The recorded seller was Domain 3201 I CG, LLC of Seattle, Washington, which purchased the property in July 2019.

The off-market acquisition continues Bascom’s renewed buying activity in Tucson following its earlier 2026 purchase of Retreat at Speedway, a 304-unit multifamily property acquired for $53.4 million.

Built in phases in 1985 and 1990, Domain 3201 includes one-, two-, and three-bedroom floor plans on nearly 12.5 acres, with amenities including three swimming pools, two spas, open green areas, fitness and yoga facilities, clubhouse, business center, and pickleball courts.

BrightSpire Capital Acquisitions provided acquisition financing arranged by Brian Eisendrath, Cameron Chalfant, Ben Margolis, and Jesse Zarouk of Institutional Property Advisors. IPA’s Hamid Panahi, Clint Wadlund, Steve Gebing, and Cliff David advised the buyer and seller in the off-market transaction. Bryten Real Estate Partners will manage the property.

Bascom plans a value-add renovation program targeting common areas, amenities, and unit interiors.

For more information, Panahi can be reached at 520.719.6511, and Wadlund is at 520.349.0621.

Source: RED Comp #12512