TUCSON, ARIZONA -- An affiliate of Cottonwood Properties (David Mehl, president), DM Phase IV Investment, LLC, purchased 237.27 acres of vacant land at 11800 E. Valencia Rd. in Tucson. The industrial land parcel, situated on Valencia Rd. at the Pantano Wash, was purchased from California Portland Cement Company for $1,000,000 ($.10 PSF) and has been rezoned to R-2 while in escrow.
The buyer’s preliminary plat is for 615 multifamily units and 398 SFR lots in Phase I; with an additional 135 SFR lots planned in Phase II east of the Pantano Wash.
The community is located near Rocking K Ranch Estates at Valencia and Los Reales Roads.
A Tucson company with all of its interests exclusively in the Tucson area, Cottonwood Properties has developed residential communities, resorts, retail centers, office complexes and apartment communities in excess of $800 million. Primary among them is the La Paloma resort community in the central foothills of Tucson; 800 acres of residential and commercial development surrounding the Westin La Paloma resort hotel.
The President and Owner of Cottonwood Properties, David Mehl, first owned the land that is now Dove Mountain in 1985. Nearly two decades of planning and commitment have gone into making Dove Mountain one of the Southwest’s premiere golf resort communities. Cottonwood Properties developed The Ritz-Carlton Resort and continues to actively develop the remaining land in Dove Mountain. Mehl graduated from the University of Arizona in 1972, and has made Tucson his home since founding Cottonwood Properties in 1975 with his late brother George.
Robert C. Glaser, SIOR, CCIM, Principal, and Industrial Specialist with Cushman & Wakefield | PICOR and Roy (Thrac) Paulette, with Cantera Real Estate, LLC, represented the seller, Cal Portland Company in the transaction.
For more information, Glaser should be reached at 520.546.2707 and Paulette can be contacted at 520.904.5055.
To learn more, see RED Comp #9712.
