Tucson, ARIZONA (January 17, 2025) — Forestar (USA) Real Estate Group Inc., finished the end of 2024 in Tucson with a significant acquisition of 70 acres known as Blocks 19 and 21 in the Star Valley master-planned community in Tucson’s Southwest Submarket. The zoned land was purchased for $10,164,500 ($145,000 per acre with utilities to the site) and is the first in a scheduled takedown of 141 acres total. The land was purchased from GAC Strategic Capital, LLC. (Mike Geddes, Rick Andreen). Forestar has been extremely active in Tucson, developing finished lots in multiple locations.

The blocks will be designed and processed for production lots. The property is located on the east side of the master plan along both sides of Los Reales Road.

As one of the best-producing projects in the Tucson metro area, Star Valley has played a lead role in the renewed strength of the southwest submarket. The project is home to a strong homebuilder roster, including Meritage, Lennar, Richmond American, and LGI. Star Valley is being developed in partnership between Sunbelt Holdings and Andreen/Geddes. The master plan looks to have several new Blocks available at the start of 2025.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and have the marketing assignment for all of Star Valley.

White commented “Star Valley is the main event in the southwest submarket of Tucson. As infrastructure costs stay elevated, finding opportunities for zoned land with existing infrastructure helps to accelerate business plans for lot developers and homebuilders. Being quick and proactive on these rare opportunities is how market advantage is gained in Tucson. Forestar has been very strategic on their purchases in Tucson.”

For more information, White and Carroll should be contacted at 520.514.7454.

To learn more, subscribers should reference RED Comp #11686.

TUCSON, AZ (January 17, 2025) — The multi-tenant industrial properties at 4141, 4151, 4161, and 4359 E Tennessee Street in Tucson sold for $6.55 million ($87.45 PSF) to Cedar Creek Equity Investments, LLC of Florida. The industrial property, built in 1968, featured 13 tenants and a combined total of 74,900 square feet of leased building space. Chapman Management Group will continue to manage the property for the new owners.

Erik Chapman, CCIM, CPM, and Nick Travassos, MRED of Chapman Management Group, LLC, represented the seller, Tic-Tac Properties, LLC, and Tucson Industrial Centers, Inc. of Tucson. The buyer was self-represented.

The asset was sold on December 23, 2024.

For more information, Erik Chapman can be reached at (520) 867-8899 and Nick Travassos can be reached at (520) 867-8438.

To learn more, subscribers can refer to RED Comp #11691.

TUCSON, AZ (January 16, 2025) — Bath Fitter purchases a 3,919-square-foot office / warehouse condo at 1191 E Ajo Road, Suite 145 in Tucson, in the Soth Gate Business Park Condominiums, from N&M Properties for $620,000 ($158.20 PSF).

The two-story building, constructed in 2007, has six offices, a reception area, two baths, a fenced yard, a grade-level roll-up door, and extra mezzanine storage.

Bath Fitter custom manufactures a premium acrylic sheet for every different bath. With our unique process, we install it right over the existing bath and walls in as little as one day, with no mess or hassles from demolition. The result is a watertight fit, a beautiful bath, and a lifetime guarantee.

Max Fisher with BRD Realty represented the seller and Dave Blanchette with NAI Horizon represented the buyer.

For more information, Fisher can be reached at 520.465.9989, and Blanchette is at 520.729.1697.

To learn more, subscribers should refer to RED Comp #11629.