Oro Valley corporate campus positioned for future mixed-use business park development

ORO VALLEY, ARIZ. (Aug. 25, 2026) — Bourn Companies, through BP Innovation Partners, LLC, has acquired approximately 335 acres of undeveloped commercial land within Innovation Park in Oro Valley for $21.25 million.

The transaction closed July 22, 2026. The property is 333.57 acres, or approximately 14.53 million square feet, reflecting a land value of approximately $63,705 per acre, or $1.46 per square foot.  The transaction encompassed approximately 30 parcels within the Innovation Corporate Center Business Park.

The seller was VWI / Vistoso Investment, LLC, affiliated with Venture West Group and represented by Neil Simon. The buyer was BP Innovation Partners, LLC, affiliated with BP Innovation Investors, LLC and represented by Don Bourn. Rick Kleiner, Rob Glaser Greg Furrierm Alexis Corona and Natalie Furrier with Cushman & Wakefield | PICOR represented the seller in the transaction, supported by Kate Zimmerman, Cushman & Wakefield’s Marketing Manager.

“This transaction is the quintessential ‘Win-Win’ for all parties,” commented Kleiner and Glaser. “Our C&W | PICOR team was honored to represent Venture West Group and to negotiate sale of this exceptional property to Bourn Companies. We value our longstanding relationships with Venture West’s principals Neil Simon and Fred Steiniger and greatly appreciate their trust in us. Our C&W | PICOR team worked closely with Don Bourn and his team, and are impressed by their extraordinary capabilities and strong local commitment.”

The acquisition places a substantial portion of Innovation Park’s future development under the direction of locally based Bourn Companies and represents another significant investment by the company in Southern Arizona. Bourn Companies’ regional portfolio includes projects within Williams Centre and The Bridges, as well as Uptown, formerly Foothills Mall, The Landing and the forthcoming Cascada.

Innovation Park is anchored by Roche Tissue Diagnostics’ headquarters and serves as an important center for bioscience, employment and economic activity in Oro Valley.

The campus was originally created by developer Neil Simon and Venture West Group, whose investment established much of the property’s infrastructure, mature landscaping and distinctive setting against the Santa Catalina Mountains.

“Innovation Park is a rare asset. The infrastructure, the landscaping and the surroundings are already exceptional, and our job is to build on that foundation,” said Don Bourn, founder of Bourn Companies. “We see an opportunity to create a world-class mixed-use business park that expands on everything Innovation Park was established to be.”

Bourn Companies envisions the property evolving into a mixed-use business park designed to attract and retain major employers while providing the services and amenities increasingly sought by today’s workforce.

“The acquisition is an exciting and significant investment in Oro Valley’s future,” said Jeff Wilkins, Oro Valley Town Manager. “Bourn Companies’ commitment to Innovation Park strengthens our economy, supports job growth and reinforces Oro Valley’s position as a premier destination for business.”

Joe Snell, President and CEO of the Chamber of Southern Arizona, called the acquisition an investment in the region’s future and said high-quality commercial and innovation-focused real estate is critical to Southern Arizona’s ability to attract companies and create high-paying jobs.

“The purchase of Innovation Park gives Southern Arizona another platform to compete for investment and economic opportunity,” Snell said. “We applaud Don Bourn’s commitment to ensuring that our region has the infrastructure and business-ready space needed to grow for years to come.”

Planning remains in the early stages. Bourn Companies said it will work with the Town of Oro Valley and community stakeholders to refine the development vision, with additional details expected as plans progress.

Source: RED Comp #12628

Phoenix, AZ  (August 25, 2026) – Trammell Crow Company (“TCC”), a leading commercial real estate developer, today announced the completion of a new development anchored by Sprouts Farmers Market in Phoenix. The 8-acre mixed-use development includes a 145,000-square-foot Class A office building serving as Sprouts Farmers Market’s new corporate headquarters, a 25,000-square-foot flagship grocery store, and approximately 11,000 square feet of retail space. The grocery store opened to the public on July 24, 2026, and the headquarters office building is now complete and ready for occupancy in August 2026.

“It has been an honor to partner with Sprouts, the City of Phoenix, and our design and construction teams to bring this headquarters to life. This project is a testament to the power of collaboration and a shared commitment to creating a best-in-class space for Sprouts’ team members,” said Collin Weisenburger, Vice President, Development Management for TCC in Phoenix.

Rob Hernandez, a Senior Associate with TCC, added, “We are proud to have played a part in delivering a home for a company that plays such a key role for the state of Arizona.”

Located within the CityNorth development near 56th Street and Loop 101, the headquarters was designed to support collaboration, innovation, and team member wellness. The office provides a variety of modern workplace amenities tailored to the needs of Sprouts’ growing workforce, including a community garden, rooftop deck, fitness center, and culinary kitchens.

Project partners on the Sprouts Farmers Market headquarters development include U.S. Realty Advisors, RSP Architects, Wespac Construction, Inc., Keyser, and JLL.

Veteran commercial real estate executive to lead the firm’s strategic direction and continued growth

TUCSON, Ariz.  (Aug. 25, 2026) — Cushman & Wakefield | PICOR, Southern Arizona’s leading commercial real estate firm, today announced the appointment of Sheila Schmidt as Chief Executive Officer, effective August 11, 2026.

Schmidt was unanimously selected by the firm’s shareholders to lead the organization as it builds on more than four decades of commercial real estate leadership and positions itself for continued growth.

“For over 40 years, C&W | PICOR has set the highest standards in our community for competence and professionalism in commercial real estate,” said Shareholder and Chief Operating Officer Rob Tomlinson. “In addition, C&W | PICOR is a significant benefactor of our community through its philanthropy and community service. It was not an easy task to find a seasoned commercial real estate professional who possessed the unique combination of experience, expertise, and heart for the community. We found all of those qualities in Sheila Schmidt, and we are excited to have Sheila as our colleague and leader as we chart our course into the future.”

As Chief Executive Officer, Schmidt will lead the firm’s strategic direction, overseeing one of the region’s most active commercial real estate organizations. In 2025, the firm completed 630 transactions totaling 7.4 million square feet and $366 million in transaction volume while maintaining the region’s leading market share in leasing and sales.

“What sets Sheila apart is her ability to see beyond the transaction,” said Principal and Office Specialist Rick Kleiner. “She takes the time to truly understand a client’s business, their challenges, and where they want to go. That combination of real estate expertise, business strategy, and authentic leadership builds trust, strengthens relationships, and ultimately leads to better outcomes for our clients. That’s exactly the kind of leadership that will help position the firm for continued success.”

Prior to joining the firm, Schmidt served in leadership roles at Meridian and Ryan Companies, where she led healthcare real estate development initiatives, portfolio strategy, and capital projects.

“Throughout my career, I’ve had the opportunity to work with organizations of every size, from local businesses to Fortune 10 companies, and one lesson has remained constant: the best real estate solutions begin with understanding the client’s business,” said Schmidt. “I’ve always believed our role extends far beyond a transaction. By taking the time to understand an organization’s goals, challenges, and long-term vision, we’re able to create solutions that support their broader strategy. That’s the perspective I look forward to bringing to my role as CEO.”

Since first partnering with Kleiner and the firm in 2019, Schmidt has collaborated on the delivery of several multi-million-dollar healthcare developments throughout Southern Arizona. Her Tucson-area client portfolio has included TMC Health, El Rio Health, Northwest Medical Center, the University of Arizona, and Ventana Medical Systems.

“Working alongside Rick and the team over the past several years gave me a firsthand appreciation for the firm’s culture and the trust it has built throughout Southern Arizona,” said Schmidt.

“My vision for the firm is to honor the remarkable legacy it has built while investing in our people, strengthening relationships, and creating opportunities for others to thrive professionally,” said Schmidt. “I want every client, colleague, and future team member to experience the difference that strong relationships make. By investing in people and serving our clients with excellence, we have an opportunity to strengthen not only our firm, but also create lasting value for the communities we serve.”

Schmidt earned a Master of Science in Organizational Leadership from Johns Hopkins University and completed Brown University’s Leadership and Performance Coaching program before earning her Associate Certified Coach (ACC) credential through the International Coaching Federation. She has been recognized with the Arizona Healthcare Executives Regent Award and Chapter Service Award for her professional leadership and community service, as well as by Special Olympics Arizona for her contributions to the organization.