Richmond American Homes of Arizona, a subsidiary of MDC Holdlings, Inc. (NYSE: MDC), is buying 56-SFR lots at Madera Highlands Villages in the Town of Sahuarita and recently closed on the first six lots for $483,000 ($80,500 per lot). The roughly one-acre lots were originally developed by the Toll Brothers for luxury home construction and resold to MK Company Southwest of Scottsdale (Keith Holben, principal) during the market downturn.

MK Company Southwest is the seller for the rolling option to Richmond American.

The Madera Highlands Villages at Madera Highlands, Richmond American’s newest community in this established masterplanned community, will offer a distinctive collection of single and two-story floor plans. New homes will showcase beautifully appointed exteriors and open, inviting layouts with exceptional included features, such as tile flooring, stainless-steel appliances and granite kitchen countertops.

Since 1972, MDC’s subsidiary companies have built and financed the American dream for more than 175,000 homebuyers. MDC’s commitment to customer satisfaction, quality and value is reflected in each home its subsidiaries build. MDC is one of the largest homebuilders in the United States. Its subsidiaries have homebuilding operations across the country, including the metropolitan areas of Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, Riverside-San Bernardino, Los Angeles, San Francisco Bay Area, Washington D.C., Baltimore, Philadelphia, Orlando, Jacksonville, South Florida and Seattle. The Company’s subsidiaries also provide mortgage financing, insurance and title services, primarily for Richmond American homebuyers, through HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company, respectively.

Will White of Land Advisors Organization in Tucson handled the transaction and had this to say, “After the dismantling of the market over the past few years, this transaction shows signs the market is coming back to where it was before the downturn.”

White should be reached at (520) 514.7454 for more information. Richmond American can be contacted at (520) 544.2700.

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[mepr-show rules=”58038″]Sale price: $483,000. Sale date: 5/16/2014. Al cash. APN: 304-31-554, 576, 577, 588, 590 & 591. Legal: Lots 13, 35, 36, 47, 49, & 50 Village 22 Madera Highlands: Villages 11 thru 14 and 16 thru 23 bk 59 pg 65.[/mepr-show]

Buyer to Renovate and Reposition Asset for Market

Phoenix, Ariz. – CBRE has completed the sale of a Southbank Business Center located at 3279, 3401, 3411 and 3421 E. Harbour Dr. in Phoenix. Financial terms of the sale of the four-building, 108,285-square-foot industrial/flex property were not disclosed.

Mike Parker and Evan Koplan with CBRE’s Phoenix office represented the buyer, Newport Beach, Calif.-based Turner Real Estate Investments. The seller, Jupiter Holdings, LLC, also of Newport Beach, was represented by Luke Walker, Dave Carder and Eric Schultz of CBRE.

“Turner Real Estate Investments was relentless in the pursuit of these buildings. The company was extremely thorough and diligent throughout the process and performed as expected at the close of escrow,” said CBRE’s Parker. “Turner is in the process of renovating and repositioning the buildings in the market on a for-sale and for-lease basis, and the property is already garnering activity from prospective users.”

The corporate image business park property at 3279-3421 E. Harbour Drive in Phoenix features 108,285-square-feet of flex/industrial space. The property benefits from a central location, proximity to hotels and adjacency to Phoenix NAP data center. Southbank Business Center also features excellent accessibility via the I-10 Freeway as well as proximity to Sky Harbor International Airport, downtown Phoenix and downtown Tempe.

Potbelly Sandwich Shop will hold its official grand opening of its first location in Tucson, Tuesday, June 3^rd, 5545 E. Broadway Boulevard, #103 in Tucson, in the recently-renovated and now 100% leased center anchored by Hobby Lobby and Stein Mart at the northeast corner of Broadway & Craycroft.

Nancy McClure, First Vice-President of CBRE in Tucson handled the 100% lease-up for the landlord. Zach Pace of Phoenix Commercial Advisors represented Potbelly in this transaction.

Photos shown were taken Monday at the company’s invitation-only “soft opening”.  McClure told us, she thinks the place looks great. “They had a fleet of people behind the counter and the crowd flowed well with a line that started out the door,” said McClure.

Potbelly Sandwich Shops have their humble beginnings from an antique store, long before the sandwiches were toasted and cookies were on straws. There was a young couple who owned an antique shop on Lincoln Avenue in Chicago, Illinois. This quirky shop of memories was doing well, but the determined couple knew they could always do better.

They decided to start serving lunch to their curious, collecting customers. As time passed the “little antique shop that could” was slowly turning into quite the lunchtime getaway, complete with toasty warm sandwiches, homemade desserts and even live music.

Then in 1996, an ambitious, entrepreneurial young man named Bryant Keil bought the original store in Chicago, Illinois. Together with his team, Bryant set out to spread the Potbelly love across the country, creating shops with the same neighborhood feel as the original.

Today, the magic continues with more than 280 Potbelly Sandwich Shops in neighborhoods around the country.

In addition to the Broadway location, a second Potbelly Sandwich Shop will open soon at 1031 N Park Avenue, south of Speedway on Park in Tucson.

McClure should be reached at (520) 323.5117 for more information.