M.D.C. Holdings, Inc. (NYSE: MDC) has announced that its Richmond American Homes of Arizona subsidiary is opening a brand new community in the Tucson area. Eagle Crest Ranch is planned to officially open for sales on September 6, 2013, and will offer a variety of new single- and two-story homes ranging from approximately 1,700 to 2,700 finished square feet. Planned home features include beautifully appointed exteriors, spacious, open living spaces and ample closet space.

Located north of Oro Valley off Oracle Road, Eagle Crest Ranch boasts a beautiful setting nestled in the foothills of the Santa Catalina Mountains. The community is scheduled to feature a combined total of 125 homesites. Interested homebuyers are encouraged to act quickly to be one of the first to choose a homesite within this neighborhood.

The Eagle Crest Community is in addition to the four other land purchases in the Tucson area by Richmond American Homes.

The first land purchase, in Marana, is a 36-homesite extension of Richmond American’s current property in the master-planned community of Gladden Farms. The new development, Flor de Algodon at the Arbors, is scheduled to offer many of the same floor plans available at the Gladden Farms location, which includes both single- and two-story homes with approximately 1,645 to 2,720 finished square feet. Planned features include beautifully appointed exteriors and open, spacious living spaces with plenty of closet space. Residents will enjoy Gladden Farms’ many amenities, such as miles of walking trails, parks and twelve playgrounds. The location is also near Marana’s recreational facilities, including a sparkling pool and dog park.

The second land purchase, also in Marana, is The Village at Twin Peaks, with an opening date scheduled for the first quarter 2014. The community will offer 40 homesites with an assortment of new single- and two-story homes ranging from approximately 1,720 to 2,701 finished square feet. Attention to detail and storage space are top priorities for these floor plans. The location is conveniently located with easy access to the Marana School District, shopping, dining, and I-10.

The third land purchase is in the popular city of Vail, Arizona. The community of Mountain Vail Ranch is scheduled to open the first quarter of 2014 with a total of 87 homesites and a sophisticated collection of new single- and two-story homes with up to approximately 2,900 finished square feet, priced from the low $200s. The homes will feature spacious interiors and Richmond American’s signature attention to detail. The neighborhood will be within the popular Vail School District and close to national parks, with easy access to I-10.

The final land purchase announcement is located in the city of Tucson. With a total of 86 homesites, Sycamore Point is scheduled to open during the fourth quarter of 2013. The builder plans to offer two-story floor plans with up to 2,150 finished square feet. Like Mountain Vail Ranch, the location of Sycamore Point will sit within the Vail School District in convenient proximity to I-10 with easy access to Davis Monthan Air Force Base and the airport. Homes will start in the upper $100s.

Anyone considering a future purchase at Eagle Crest Ranch or any of these new communities will want to join the community’s interest list at www.RichmondAmerican.com to stay updated on grand openings, model home openings and more.

Tucson builders surpassed $10 million in purchases for July and August. A summary of each transaction follows:

BUILDER CASH PURCHASE
Southeast Submarket
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[mepr-show rules=”58038″]At New Tucson Unit 5 – D.R. Horton acquired 51-SFR finished lots for $1.715 million ($33,600 per lot) from NT Properties (Steve Russo, et al). New Tucson lots vary in size from 55’ to 70’ x 100’. (sale date: 8/2/2013. APNs: 305-30-086 thru 099, 101, 104 thru 107, 109 thru 119, 121, 127 thru 134; 305-26-014, 090, 111, 126, 141, 202E, 145, 147, 155, 048, 128, 136. All cash deal.)

BUILDER OPTION PURCHASES
Northwest Submarket
At Tangerine Crossing – Richmond American Homes took down 3-finished lots for $203,400 ($67,800 per lot) from MFV-FC Portfolio of Charlotte, NC. Richmond has an option agreement for 63 finished 55’ wide lots that began October, 2012. (sale date: 7/17/2013, APN: 219-37-090 thru 092. All cash deal.)

West Submarket
At Sonoran Ranch II – D.R. Horton purchased 24-finished SFR lots for $612,000 ($25,500 per lot) from Son Land Company of Torrance, CA (Luigi Schiappa, managing member). The option agreement started Q1 2013 for 52-finished SFR lots. This is the third and final takedown. Sonoran Ranch II is located west of Tucson near Star Valley and offers six models ranging in price from $141,900 to $193,900. The lots are 55’x 110’, average lot size is 6,050 sq. ft. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented the seller. (sale date: 8/1/2013. APNs: 210-55-514thru 520, 540, 549 thru 559, 566 thru 570. All cash deal)

West Submarket
At Caddis Haley Estates – D.R. Horton took down 9-SFR finished lots for 180,000 ($20,000 per lot) from Caddis Bridge, LLC of Tucson (Greg Anderson, manager). The subdivision is located at Valencia and Vahalla. Lot sizes are 45’ wide and the option agreement is for 134-lots that started in June 2012. D.R. Horton offers five floor plan models ranging in price from $127,900 to $160,000. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented the seller in the transaction. (sale date: 7/3/2013. APNs: 210-36-018 thru 020, 127, 128, 135, 136, 159, 160. All cash deal.)

West Submarket
New Builder joined Caddis Haley Estates – LGI Homes of Texas (Chirs Kelly) took down 24-SFR finished lots for $588,000 ($24,500 per lot) from Caddis Bridge, LLC of Tucson (Greg Anderson, manager). Lot sizes are 45’ wide and this is the first phase of an option agreement for 72-lots. LGI have secured lots in Caddis Haley and Sonora Ranch and expect to be selling homes by the end of the year. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented the seller in the transaction. (sale date: 8/28/2013. APNs: 210-36-087, 089 thru 112. All cash deal. LGI financing construction if through the Bank of Texas)

South Submarket
At Sahuarita Highlands – D.R. Horton took down 5-finished SFR lots for $215,000 ($43,000 per lot) from Red Point Development (Daniel Leung, President) of Tucson. The option agreement is for a total of 153 lots. Sahuarita Highlands offers five floor models that range in price from $187,900 to $206,900. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented the seller. (sale date: 8/14/2013, APNs: 303-54-155 thru 157, 066, 067. All cash deal.)

BUILDER CASH PURCHASES OF RAW LAND
Northwest Submarket
A.F. Sterling HomeBuilders of Tucson (Randy Agron, Vice-President) bought 17.37 acres of raw land at Lambert and Old Father in Pima County for $420,000 ($84,000 per lot) to subdivide into five 3.3 acre parcels for semi-custom home construction by buyer. The seller was Lim Revocable Trust of Tucson. Jeremy Braun of Jeremy J. Braun in Tucson handled the transaction for buyer and seller. (sale date: 7/2/2013, APN: 224-16-0140, all cash.)

HOLD FOR INVESTMENT
Southeast Submarket
Vail, AZ – Sonoran Development of Prairie Village, KS traded into 23.19 acres of raw land valued at $221,000 ($9,530 per acre) to hold for investment. The property at Dusty Silver Spur Way and Colossal Cave Road is south of Saguaro National Park and near 414 additional undeveloped acres owned by the buyer. 2718, LLC of Tucson (Matthew McKenzie, Principal) was the seller.
(Sale date: 7/18/2013, APNs 205-76-060A, 061A, 64C, 065A, down payment was zero on the affidavit of value)

Northwest Submarket
Marana, AZ – Jon Post of Marana bought 30.59 acres of undeveloped land in Marana for $200,000 ($6,538 per acre) from T& J Family Limited Partnership, LLP of Marana. The buyer owns Post Farms which is in area of the purchase. (sale date: 7/19/2013, APN: 217-45-003A, 0040, all cash.)

See also https://realestatedaily-news.com/richmond-american-building-new-communities-north-and-south/ for $2.65 million – two Richmond American communities.

See also https://realestatedaily-news.com/new-aerie-community-planned-for-sabino-canyon-river-road/ for $1.4 million – Aerie Community at River & Sabino Canyon.

See also https://realestatedaily-news.com/the-pines-d-r-hortons-newest-community/ for $2.28 million – D.R. Horton’s new community “The Pines”.[/mepr-show]

Velocity Retail Group, LLC completed 14 transactions in August totaling nearly 450,000-square-feet. A summary of each transaction follows:

Darren Pitts of Velocity Retail Group and ARCORE Real Estate Group’s Al Rodenbostel of Oak Brook, Illinois represented The Dump, a subsidiary of Haynes Furniture, Inc. in a 139,265 square foot retail store located at 2860 S. Highland Avenue in Lombard, Illinois. The building was a former Great Indoors. The same team also finalized a 215,400 square foot warehouse to support the new store at 180 N. Meadow in Addison, Illinois. This is the single largest retail transaction in the Chicago-land market in the past 18-months.

Andy Kroot of Velocity Retail Group represented Goodwill of Central Arizona in a new 10-year lease at Goodyear Centerpointe at 15433 W. McDowell Road, in Goodyear, Arizona. The 30,256 square foot new store will also have a full career center.

Darren Pitts, Michael Clark and Nick Ault of Velocity and Chad Moore and Jeff Harrison from Mountain West Retail in Utah represented the Tenant, Mattress Firm, Inc. in a 10-year lease at 1122 S. University in Provo Utah. The former Fazoli’s building is located in Provo Towne Center. The store is expected to open in the 2nd quarter of 2014.

Desert Sky Animal Hospital will be opening a 2,100 square foot location at Arrowhead Vista’s shopping center located north of the northeast corner of Bell Road and 51st Avenue in Glendale, Arizona. John Morrow of Professional Practice Consultants represented the Tenant in the five-year transaction. Larry Miller and Jim Edwards of Velocity Retail represented the Landlord, Arrowhead Properties, LLC.

Mattress Firm leased a 5,064 square foot building from Madison Development at 4456 E. Thomas Road in Phoenix. Both parties were represented by Darren Pitts, Michael Clark, and Nick Ault of Velocity Retail Group. The store is expected to open during the first quarter of 2014 after the owner finalizes retrofit work in the building.

Goodwill of Central Arizona leased a 19,290 square foot building from San Tan Village Investors, LLC at 2756 S. Market Street in Gilbert, Arizona. The tenant was represented by Andy Kroot of Velocity Retail Group in the 10-year transaction. The new store will be a “Goodwill Redesign” concept.

Sasha Bella Day Spa was represented by Velocity Retail’s Michael Clark, John Jackson and Nick Ault in a 1,400 square foot 5-year transaction at Township Plaza at the southwest corner of Baseline and Gilbert Roads. The Landlord is an entity managed by Desert Troon Companies of Scottsdale. The location is expected to open in October of this year.

Mattress Firm leased a 4,000 square foot building in the newly constructed San Dorado retail center at Oracle and 1st Street in Oro Valley, Arizona. The tenant was represented by Darren Pitts and Michael Clark of Velocity Retail Group and the landlord was represented by Teale Bloom of Phoenix Commercial Advisors. The store is expected to open in the first quarter of 2014. For more information on San Dorado https://realestatedaily-news.com/cvs-and-shop-tenants-committ-to-san-dorado-in-oro-valley/

Biscuits Café Inc. leased a 2,876 square foot space at 414 West University Drive in Tempe, Arizona. Velocity Retail Group’s Andy Kroot represented the tenant in the 5-year transaction. This will be the third store for the restaurant in the Phoenix area, with more in the works. The location is expected to open in the 3rd quarter of this year.

Jim Edwards, Larry Miller and John Jackson of Velocity represented the landlord, Pacific West Land, LLC in a 975 square foot lease to Black Tie Cleaners. The new store will be located in the Fry’s anchored Corona del Sol shopping center at the southeast corner of Ray and Rural Roads in Chandler, Arizona.

Mattress Firm leased a 3,285 square foot building from SKM Peterson LC at 6520 North Highway 224 in Park City, Utah. The tenant was represented by Chad Moore and Jeff Harrison of Mountain West Retail in Utah, and Darren Pitts, and Michael Clark of Velocity Retail. This will be the first location for Mattress Firm in Park City and the store is expected to open during the first quarter of 2014.

Goodwill of Central Arizona is opening a 1,331 square foot donation center in the Maricopa Fiesta shopping center at the southwest corner of John Wayne Parkway and State Route 238 (Smith Enke Road) in Maricopa, Arizona. Andy Kroot of Velocity Retail represented the Tenant.

Velocity Retail Group is headquartered in Phoenix, Arizona, and provides a full range of commercial real-estate services including leasing and selling of shopping centers, tenant representation, consulting, investment consulting, development to retail tenants, and redevelopment to owners of retail real estate throughout the West. For more information, visit www.velocityretail.com or call (602) 682-8100.