Phoenix, Ariz. (March 17, 2026) – A 29-acre land parcel located at the southeast corner of Felix Road and Arizona Farms Road in Florence, Arizona, in Pinal County, has sold for $4.7 million. Kidder Mathews Senior Vice President Brian Rosella represented the sellers, Aspen Nevada SPE LLC and Dolores Darnold, in the transaction. The buyer was Entitlements, LLC.

The property is located south of Metro Phoenix’s rapidly growing San Tan Valley submarket, an area experiencing significant residential and commercial expansion. The planned Florence Tech Park, a large employment center slated for the west side of Felix Road, further enhances the parcel’s appeal and positions the site to benefit from future job creation and development in the surrounding area. Florence Tech Park will be developed by Ryan Companies and EdgeCore.

“This transaction highlights the continued growth across Metro Phoenix,” said Rosella. “Investors and developers remain confident in the long-term residential and employment expansion occurring throughout the Southeast Valley.”

The Florence, Arizona area has experienced long-term population growth and significant development planning, with increasing interest from homebuilders and investors due to its location in one of the region’s fastest-growing corridors.

Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 55 million square feet of space, and conducts nearly 2,700 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.

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.