Owner-User Real Estate Transactions Highlight Continued Demand Across Tucson Submarkets

TUCSON, AZ (December 19, 2025) — A trio of owner-user real estate transactions closed in early December underscores continued demand for well-located commercial properties across multiple Tucson submarkets, with buyers ranging from a regional credit union to medical and industrial owner-occupants.

In the Northwest submarket, Idaho Central Credit Union acquired a former Bank of America branch located at 12132 N. Rancho Vistoso Boulevard in Oro Valley for $2.3 million ($514.20 PSF). The 4,473-square-foot retail building, constructed in 2004 and situated on 0.86 acres within Safeway Vistoso Plaza, sold at $514.20 per square foot. The property includes 27 parking spaces and three drive-thru lanes and was purchased for owner-occupancy. The seller was Vistoso Plaza II LLC, an affiliate of Brentwood Developments (California) Fund III. CBRE’s David Montijo represented the buyer, while Tyler Griffith of Kidder Mathews handled the listing.

In central Tucson, a medical office condominium at 1601 N. Tucson Boulevard, Suite 18, sold for $390,000 ($144.12 PSF) in an owner-user transaction. The 2,706-square-foot office was originally built in 1953. The buyer, 1601 N Tucson Blvd 18 LLC, acquired the space for owner-occupy under the management of Surekha Bandlamuri, MD. The property features multiple exam rooms, lab space, and recent capital improvements, including a new roof installed in 2025 with a transferable warranty. CBRE’s John Ash and Bruce Suppes represented the buyer, while Chris Tsighis and Veronica Lawson of Coldwell Banker Realty represented the seller, the Michael E. and Eline I. Duperret Family Trust.

In the Northeast submarket, Pimar LLC purchased the Wildcat Heating and Cooling facility at 4699 E. Pima Street for $390,000 ($206.35 PSF). The 1,890-square-foot industrial building, constructed in 1971 and located on 0.24 acres. The buyer had previously occupied the property as a tenant and completed the purchase to owner-occupy the site, which includes office space, a grade-level roll-up door, ten parking spaces, and a fenced yard. CBRE’s David Montijo represented the seller, The Renee Hobeich Revocable Trust, while Kristy Kelley of Bright Properties represented the buyer.

Collectively, the transactions reflect continued confidence among owner-users seeking long-term control of real estate across retail, office, and industrial product types, particularly in established Tucson corridors with strong neighborhood fundamentals.

Source: RED Comps #12235, #12238, and #12242.