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.

FEBRUARY 18, 2013—3700 E. COLUMBIA ST, SUITE 100, TUCSON, AZ

ParMerica leased 10,686 square feet at 3700 E. Columbia St, Suite 100 in Tucson from Holualoa Columbia Industrial LLC. Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR Commercial Real Estate Services, represented the landlord in this transaction while Michael England with Cresa Dallas represented the tenant.

FEBRUARY 18, 2013—750 E. 46TH STREET, TUCSON, AZ

Rafael Furniture leased 3,025 square feet at 750 E. 46th Street in Tucson from Rich Rodgers Investment, Inc. Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR Commercial Real Estate Services, handled this transaction.

FEBRUARY 18, 2013—2928 – 2930 E. 22ND STREET, TUCSON, AZ

Las Brasas leased 1,420 square feet at 2928 – 2930 E. 22nd Street in Tucson from Rich Rodgers Investment, Inc. Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR Commercial Real Estate Services, handled this transaction.

FEBRUARY 18, 2013—3933 E. 29TH STREET, SUITE 505, TUCSON, AZ

Otis Elevator Company leased 800 square feet at 3933 E. 29th Street, Suite 505 in Tucson from Presson Equity Partners LLP. Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR Commercial Real Estate Services, represented the landlord in this transaction while Laura Finamore with Cushman & Wakefield and Rob Glaser, SIOR, CCIM with Cushman & Wakefield | PICOR Commercial Real Estate Services represented the tenant.

To submit sales and leases email REDailyNews@outlook.com

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Stretching from Gladden Farms on the west to Rancho Vistoso on the east, including Dove Mountain in the middle, the Tangerine Corridor lot sales have been brisk over the past few months.

On 10/29/2012 Mountain Real Estate Capital, LLC (Peter Fioretti, CEO) an North Carolina based company under its affiliate MFV-FC Portfolio, LLC acquired a significant portion of the remaining land portfolio from Forest City Land Group, including 1,200 residential lots in master-planned communities nationwide in a bulk portfolio sale. Mountain Real Estate plans a seven-year hold that includes reselling lots to national homebuilders such as Richmond American, Lennar, Ryan, DR Horton and Maracay Homes. The estimated finished lot values reportedly exceed $65 million.

[mepr-show rules=”58038″]The larger projects included Tangerine Crossing in Tucson, AZ, Legacy Lakes in Pinehurst, NC, Woodbury Crossing in Olympia, WA and Summers Walk in Charlotte, NC.

As part of this larger land portfolio, Mountain Capital acquired the last remaining 63 lots at Tangerine Crossing from Tangerine Road Associates for about $2.7 million, or approximately $42,400 per lot. All 63 lots were fully developed and held option agreements with builders such as Maracay, Richmond American and Meritage Homes.

On 1/31/2013, Mountain Capital through its affiliate MFV-FC Portfiolio, LLC sold 23 lots at Tangerine Crossing to Maracay Homes for $1.5 million, or $65,250 per lot. Maracay is building a total of 85 homes at Sunrise Ridge at Tangerine Crossing; a rolling option that began December, 2010.

Maracay Homes in Tucson, AZ is a private company established and incorporated in Arizona in 2006.

On 1/31/2013, Mountain Capital through its affiliate MFV-FC Portfolio, LLC also sold 17 lots to Richmond American Homes (NYSE: MDC) at Tangerine Crossing for $1.028 million, or $60,470 per lot. Richmond is building a total of 92 homes at Premier of Tangerine Crossing.

Richmond American Homes is the home building subsidiary of M.D.C. Holdings, which also offers financing and home building in eleven states.

Will White of Land Advisors Organization of Tucson handled the Tangerine Crossing transactions for MFV-FC Portfolio.

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