This article has been archived, please login for access or subscribe now for a free trial.

Pulte Home Corporation (NYSE:PHM) paid[mepr-show rules=”58038″]$2.008 million ($20,000 per lot) for approximately 100 platted lots at Dove Mountain in Marana for the new Del Webb at Dove Mountain Active Adult Community where it plans to build approximately 650 homes on 208 acres when complete. The 22.13 acres purchased consists of a portion of Los Saguaros and Dove Mountain Resort Lots that closed in two transactions. This is the first phase of a five phase option agreement with Cottonwood Properties, Inc. and DM Phase IV Investments, LLC (David Mehl, CEO).

Del Webb Corporation was acquired by Pulte Home in 2001 and is a leading builder in active adult communities. The Del Webb at Dove Mountain Community will be located southwest of the Ritz Carlton Resort off Dove Mountain Blvd and will reportedly have a mixture of 40′, 50′ and 60′ lots.

Pulte Home conducts operations in 58 markets throughout 28 states. This will be the second active Del Webb community in the Tucson area; the other being Del Webb at Rancho Del Lago in Vail. Pulte through Del Webb is currently marketing three communities in the Phoenix valley.

“We are excited to bring the Del Webb brand to Dove Mountain, ” said John Chadwick, PulteGroup Southwest Are President. The timing is ideal as the Tucson Market is strengthening with housing demand outpacing supply. This will truly be a unique active adult community with its intimate size, sought-after location and physical beauty, all surrounded by fantastic recreational amenities.”

Within a day of posting a “coming soon” sign on the property this month, Del Webb received nearly 100 inquiries.

Cottonwood Properties of Tucson is privately owned and the original developer of the 6,200 acre Dove Mountain community in Marana, Arizona. In addition to the many neighborhoods within Dove Mountain, Cottonwood developed The Ritz-Carlton Resort, Residences and Golf Club – home to the Accenture Match Play World Golf Championships. Cottonwood was represented in this transaction by Bob Hadd of the Hadd Company of Oro Valley; Pulte represented itself.

To find out more from Pulte Homes contact Jacque Petroulakis, Public Relations Director at (480) 391-6169. Bill Hallinan, Vice President at Cottonwood Properties can be reached at (520) 299-8424. Contact Bob Hadd of the Hadd Company at (520) 403-2812.

[/mepr-show]

This article has been archived, please login for access or subscribe now for a free trial.

On February 12, 2013, Roland E Johnson of Hialeah, FL sold two duplexes at 4440 –4444 East Pima St., Tucson, AZ 85712 for[mepr-show rules=”58038″]$352,000 ($64 per foot), or $88,000 per unit, to Vijaya & Vidya Sagar Chada of Tucson. The two 2,744 sq. ft. buildings, on separate tax codes (122-12-300C & 300E), are on a 22,080 sq. ft lot zoned R-2 (built 1997).

The seller purchased the properties separately in 2001 and 2002 while living in Tucson for a total of $391,000 ($71.25 per foot), or $97,750 per unit.

The 1,372 sq. ft units are 3-bedroom / 2-bath town homes in two-stories located in a small gated community in Central Tucson, between Belvedere Ave and Catalina Ave. west of Swan. Amenities include tile floors on the first floors and carpeting upstairs, a master suite with private bath and large vanity, tiled showers with dual shower heads, private access to covered patios, high ceilings and fireplace in living room.

There was one vacant unit at time of sale with an asking rent of $1,000 per month. Hussein Alsaidi of Absolute Realty in Tucson is the leasing agent.

Hussein Alsaidi of Absolute Realty was the listing agent representing the seller and Bette David-Arnold of Tierra Antigua Realty was the selling agent who represented the investor.

Vijaya and Vidya Cada can be reached at (520) 629-4882. Contact Hussein Alsaidi of Absolute Realty at (520) 808-7439. Bette Davis-Arnold of Tierra Antigua Realty is at (520) 688-8222.

[/mepr-show]

This article has been archived, please login for access or subscribe now for a free trial.

On Feb. 14 2013, investor E & S Irving, LLC (Edmund & Suzanne K Irving) paid $[mepr-show rules=”58038″]575,000 ($185.19 per foot) for the KFC restaurant at 1905 West Grant Rd, Tucson 85745 for this 3,105 sq. ft. building (built 2004) on .84 acres. The seller was Jack L Shettlesworth of Tucson.

The property was fully leased as a KFC restaurant to Stewart Brothers Properties, LLC of Oregon, the franchisee / operator. Stewart Bros. Properties, LLC is a privately held company, founded in 2007, that primarily operates in the Restaurants and Other Eating Places industry; it owns and operates 17 Kentucky Fried Chicken restaurants in various states. The company has leased the property since September 9, 2009, and has 7 years remaining on a 10 year triple net lease term and (1) 5-year renewal option; property sold with a 7.01% cap rate at closing and rent increases based upon Consumer Price Index.

Jerry Hawkins, 1st Vice President and Shannon Murphy, Associate Broker, both of CBRE of Tucson represented the seller and David Lee of David Lee Real Estate represented the investor.

For KFC franchisee information, contact (541) 273-4639. Jack Shettlesworth, the seller, is at (520) 747-2521. Todd Stewart, Principal, Stewart Brothers Properties, LLC can be reached at (541) 273-4639. Contact Jerry Hawkins at (520) 323-5109 and Shannon Murphy of CBRE at (520) 323-5105. For Edmund Irving contact his broker, David Lee at (520) 795-3199.

[/mepr-show]