Venture West Group has sold Innovation Park, a large master-planned business park in Oro Valley, to Bourn Cos. in a $21.2 million transaction. The deal covers a 333-acre business park that has been developed as a multi-parcel corporate environment.
The acquisition includes roughly 30 separate parcels within the Innovation Corporate Center Business Park, giving Bourn Cos. control over a substantial, contiguous commercial footprint. The scale and structure of the transaction position the buyer to influence the long-term direction of one of Oro Valley’s key employment hubs.
Cushman & Wakefield | PICOR arranged the sale on behalf of Venture West Group. The seller was represented by a brokerage team consisting of Robert Glaser, Richard Kleiner, Greg Furrier, Alexis Corona and Natalie Furrier, who coordinated marketing and negotiations for the disposition.
Innovation Park sits at the northwest corner of Oracle and Tangerine roads, a location that has attracted a mix of corporate, institutional and healthcare users. Existing occupants include Roche Tissue Diagnostics, which anchors the park’s life sciences presence, as well as the University of Arizona Center for Innovation at Oro Valley and Oro Valley Hospital.
The presence of these tenants underscores the business park’s role as a regional center for medical, research and innovation-oriented activity. With multiple parcels and established users already in place, the property offers both current income and future development or repositioning potential under new ownership.
Bourn Companies has articulated a plan for the property to evolve into a mixed-use business park. The company intends to shape Innovation Park into an environment that can attract and retain major employers while integrating services and amenities that align with the expectations of today’s workforce.
This strategic approach highlights an emphasis on combining employment uses with complementary offerings that support daily employee needs, with the goal of strengthening tenant retention and deepening employer commitment to the location over time.
The acquisition also extends Bourn Companies’ regional footprint. Its portfolio in the area already includes projects at Williams Centre and The Bridges, in addition to Uptown, formerly known as Foothills Mall, The Landing and the planned Cascada project. The addition of Innovation Park reinforces the firm’s presence across a range of commercial property types and locations within the region.
By bringing Innovation Park under the same ownership as these other holdings, Bourn Companies gains the opportunity to apply a consistent strategy across multiple assets, focusing on employer-focused environments and amenity-rich settings that respond to evolving workplace demands.
