Former Bank of America Branch in Vistoso Plaza Oro Valley Sells for $1.15 Million

Oro Valley, AZ (August 1, 2025) – The stand-alone building at 12132 N. Rancho Vistoso Boulevard, a former Bank of America branch, sold on July 7, 2025, for $1,150,000 ($254 PSF). The seller was MFG Spec 1, LLC of Phoenix, and the buyer, Vistoso Plaza II, LLC, an affiliate of Brentwood Development of Rocklin, California, already owns the inline shops at Safeway Vistoso Plaza, an 87,863 gross leasable square foot center, making this a strategic addition to its existing holdings within the center.

The 4,533-square-foot building, constructed in 2001, is situated on a 0.86-acre parcel with a drive-thru lane and dedicated parking. The property offers excellent visibility along Rancho Vistoso Boulevard, serving the growing Oro Valley trade area.

Earlier this year, the seller, MFG Spec 1, LLC, acquired the building directly from Bank of America in a sale brokered by Ryan Tanner of JLL before reselling it in this latest transaction. That first sale closed on April 23, 2025, for $650,000 via a modified sealed-bid process ($145 PSF). The acquisition provides Vistoso Plaza II, LLC with additional control of the shopping center and flexibility for future redevelopment or re-tenanting opportunities.

The site draws demand due to its affluent trade area (average household income north of $145,000) and visibility—over 33,000 vehicles daily at the Tangerine Road intersection.

Key Highlights of the Sale:

• Attractive repositioning opportunity for office, retail, or restaurant use
• Strategic location next to Safeway and just half a mile west of the Oro Valley Hospital Campus
• Demonstrates yield arbitrage from opportunistic acquisition to premium sale in months

This transaction exemplifies the appeal of well‑located, adaptive reuse commercial properties in high‑income suburban corridors.

Source: RED Comp #11986