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On Feb. 15, 2013 AutoZone Development Corporation (NYSE:AZO) paid[mepr-show rules=”58038″]$550,000 for a 34,620 sq. ft. parcel ($15.89 per foot) at 8825 E Broadway Blvd. for construction of an AutoZone store from Vladimir Katz of Tucson.

The property is located northwest of Camino Seco on Broadway, with C-1 zoning.
This will be AutoZone’s 17th store in the Tucson area. Stores typically range in size from 6,500 sq. ft to 8,000 sq. ft.

Fred Ludwig, Real Estate Development Manager, reported that AutoZone Development will be general contractor for the project.

During the quarter ended February 9, 2013, AutoZone opened 32 new stores in the U.S. and opened nine new stores in Mexico. As of February 9, 2013, the Company had 4,735 stores in 49 states, the District of Columbia and Puerto Rico in the U.S., 334 stores in Mexico, and one store in Brazil for a total store count of 5,070.

AutoZone will host a conference call this morning, Tuesday, February 26, 2013, beginning at 10:00 a.m. (EST) to discuss its second quarter results. Investors may listen to the conference call live and review supporting slides on the AutoZone corporate website, www.autozoneinc.com by clicking “Investor Relations,” “Conference Calls.” The call will also be available by dialing (210) 839-8923. A replay of the call and slides will be available on AutoZone’s website. In addition, a replay of the call will be available by dialing (203) 369-1211 through Tuesday, March 5, 2013 at 11:59 p.m. (EST).

Vladimir Katz can be reached at (520) 548-1712. Fred Ludwig of AutoZone is at (901) 495-7296.

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On February 15, 2013 TTLC Rincon Knolls, LLC an affiliate of The True Life Comunities (Taber Anderson, principal & CIO) of San Ramon, CA purchased the Rincon Knolls subdivision comprising 502 single family platted residential lots on 172.6 acres for[mepr-show rules=”58038″]$6.1 million, or about $35,000 per acre, from Wyconzona, Inc. (John Williams, President) of Casper, WY.

Located northeast of Mary Ann Cleveland Parkway and Red Iron Trail, adjacent to the Pantano Wash and Cienega Creek Natural Preserve, the site was originally within Pima County. The seller, Wyoconzona, Inc. began annexing the site into the City of Tucson in 2004.

The subdivision sold platted for a Residential Cluster Project (RCP4) in accordance with the City of Tucson. Taber Anderson, who is spearheading the acquisition for True Life stated, “The company hopes to change the existing plat to a reduced density that would create more desirable lots for today’s real estate market. Our goal is to enhance the original design and tailor it to better capture and enhance the views and natural beauty of the site.”

True Life Communities, formerly known as Americap Development Partners, changed its name in February 2011. A privately held real estate development company, its activities include land development, consulting and construction. With several projects in various stages of development throughout California, Colorado and Arizona, the company is actively pursuing additional properties with a focus on first-class residential builders in the Tucson market.”

In August 2012, True Life acquired 168 acres at Rancho Vistoso Master Planned Community in Oro Valley for $10 million, for the development of approximately 400 residential lots. This infill property, known as the “Donut Hole”, due to the way the golf course wraps around it, offers premium golf course frontage and natural open space similar to that found at newly acquired Rincon Knolls.

“Arizona is experiencing a shortage of housing”, Taber added. “A private research study we commissioned for Metro Tucson Area reveals that while resale inventories have dropped and foreclosures declined, a corresponding rise in new home sales was reported. Homebuyers are now moving toward new construction, but homebuilders don’t have that land bank on hand, having diminished their inventory over the downturn, nor are they in a position to obtain it quickly, even though building permits are up. That’s where we step in to fill a void.”

Will White of Land Advisors Organization of Tucson has been retained to co-manage the marketing and home-builder sales process with True Life Communities. Discussions with several homebuilders to acquire platted and engineered lots has already begun with the True Life Team. White also represented the seller in this transaction.

Contact Taber Anderson in the True Life Phoenix office at (602) 626-8777. Bob Keefe, Managing Consultant for Wyconzona is at (520) 404-2717. Will White of Land Advisors Organization can be reached at (520) 514-7454.

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With the Arizona Republic reporting a “land rush” in metro Phoenix and new home building up 71% in 2012 over 2011, there are indications of recovery underway from the past six year slump.

On February 11, 2013, Alta Vista Communities ASNE, LLC (Roger Karber, manager) paid $2.36 million for 9.61 acres ($5.67 per foot) from Hatcher Plaza, LLC (Michael A Pollack, manager) at the northeast corner of Alma School and Pecos Roads in Chandler, AZ to construct 112-detached rental units ranging in size from about 640 sq. ft to 1,250 sq. ft. Final development costs for the gated community called “Aerie at Alma & Pecos East” is estimated at $14 million and scheduled to begin construction in March for an October 2013 opening, and January 2014 build out.

Shane McCormick of Michael A Pollack Real Estate Investments of Mesa handled the transaction.

Alta Vista Communities ASNE, LLC is a joint venture of Karber Holdings (Roger Karber, principal and founder of Aerie Development), Iridus Holdings (G.F. Jaggi) and Brav Holding Company (Garry Brav, President and Founder of BFL Construction) all from Tucson. BFL will serve as contractor on all the projects. Wells Fargo is handling financing.

Pollack is also holding an additional 13 acres at the northwest corner, where Alta Vista has plans for expansion of an additional 145-detached rental units, that is scheduled to close later this year for $3.08 million.

Alta Vista is looking for more sites in Southeast Phoenix as well as parcels in Northwest Tucson to add to their current five residential projects in various phases of construction.

Aerie at Tanque Verde (build 2012) at 2495 N Desert Links, Dr. Tucson has 85 one-story detached homes on 6.3 acres. Aerie 4050 (built 2012) at 4050 W Aerie Dr., Marana has 150-detached homes on 8.3 acres, and Aerie 1000 at 1000 W River Road, Tucson is under construction with 68-detached homes on 6.6 acres.

Karber can be reached at (520) 977-5456. Pollack is at (480) 888-0888 and McCormick at (480) 968-9618. To reach Brav call (520) 882-4800. To find out more on these Tucson communities, contact Aerie 4050 at (888) 927-8501 and Aerie at Tanque Verde at (888) 927-8512.