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Richmond American Homes (James Gaulin, Director of Land Acquisition) closed on the new subdivision of Sycamore Canyon Block 1 with 49 platted & engineered lots for [mepr-show rules=”58038″]$931,000 ($19,000 per lot). The property is located at the northwest corner of Harrison Rd and Camino Del Toro in Southeast Tucson platted by the seller, Unity, LP, a Montana-based company.

In a separate transaction, Richmond American took down three lots at Tangerine Crossing for $203,400 ($67,800) in Northwest Tucson.

No brokers were involved in either of these transactions.

Richmond American is a wholly owned subsidiary of M.D.C. Holdings, Inc., (NYSE:MDC) a Delaware Corporation based in Colorado since 1972, and ranked 11 in the top 100 homebuilders for 2012, with 3,740 closing for the year.

For more information on Richmond American Communities, contact (520) 544-2700.

The following land was sold in separate transactions:

Andrada Wilmot 180, LLC assembled 179.33 contiguous acres of ranch land in Sahaurita for $635,868 ($3,546 per acre) from two buyers, The Alice Mildred Cheeck Gasho Revocable Trust and Douglas Papini. The property is located southeast of Wilmot and Andrada, north of Sahuarita Road in Southeast Tucson. The buyer, Andrada Wilmot, LLC is an affiliate if Diamond Ventures of Tucson to hold for investment.

Myles Lewis of Tucson purchased 11.58 acres at 4900 N Craycroft Road in Tucson from DHB Real Estate of Cleveland, OH, an affiliate of New York Community Bank for $365,000 ($31,520 per acre). The property was purchased for  agricultural use. Randy and Gary Emerson of GRE Partners of Tucson and Beth Jo Zeitzer of ROI Properties represented the seller in the transaction. Emerson can be reached at (520) 777-4949 for more information.

Anthony Lunt of Tucson  acquired 5 platted lot at 5246-5255 N Melpomene Way in Northeast Tucson from ML Properties Investments, LLC of Tucson for $145,000 ($29,000 per lot) to hold for investment.

40 acres at 8845 N Ghost Ranch Trail in Marana was sold by Don Colin Pressnall to Phillip Lee Souliere for $195,000 ($4,875 per acre) to hold for investment.[/mepr-show]

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[ismember] Richmond American Homes closed on Sycamore Canyon Sept. 24, 2013. Option at Tangerine Crossing closed on Sept. 27, 2013. Both were all cash transactions.

The 179.33 acres of Venture Partners closed on Aug. 30, 2013. APN: 305-23-018A, 305-23-027B and 305-23-018B. Property was financed with a seller carryback.

Myles Lewis closed on Aug. 29, 2013. All cash transaction. APN: 109-10-013C.

The 5 -lots of Anthony Lunt closed Sept. 5, 2013. All cash transaction. All cash transaction.

These sale close out all Q3 sales recorded.

[/ismember]

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Rivendell Properties LLC et.al., affiliates of Bond Commercial Properties purchased the manufacturing facility at 7775 N Casa Grande Hwy. in Marana as a triple net sale commanded[mepr-show rules=”58038″] $9.65 million ($137 PSF). The 70,348 square-foot building is 90% occupied by Lasertel, with the balance leased to Proto Tech, a machine shop and supplier to Lasertel.

Bond Commercial Properties, based in Anchorage, Alaska represents commercial interests in Alaska, Arizona, New Mexico, Nevada, and Utah, and is interested in acquiring more properties.

The building was built by Lasertel in 1997 and owned and controlled by the company until selling it to a local private investment group, 2030 East, LLC (Eddy Chernecki, managing member), in 2008. Built on 13.35 acres, the class-A property has 4,000 amps of power, a class 10 clean room and 32’ceilings, situated on I-10, in the Continental Ranch Commerce Park in Marana a part of Northwest Tucson, well positioned on the growth corridor between Tucson, Marana ad Phoenix.

Lasertel, a wholly owned subsidiary of SELEX Galileo, Inc., a Finmeccanica company is a vertically-integrated manufacturer of high-power semiconductor laser components and developer of customer laser solutions.

The company services the defense, medical and industrial industries, delivering a wide range of chips, bars, array packages and fiber-coupled devices.

The MBE-based production facility, uses state-of-the-art equipment and patented processes to deliver standard and custom laser diode solutions that meet the requirements of demanding applications.

Palmer Capital of Roseville, CA along with Vast Real Estate Solutions of Tucson brokered the transaction while Northrim Bank of Anchorage handled the financing.

Palmer Capital can be contacted at (916) 462-6300. Jon O’Shea and Rob Fishrup with Vast Real Estate Solutions should be reached at (520) 624-9400.[/mepr-show]

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[ismember] Sale date: Oct. 11, 2013.  Buyer paid 25% down, or $2,413,000. Escrow time: 60 days. Property sold with an approximate NOI of $780,000 and a reported 7.9% cap rate. This transaction was the seller’s downleg in a 1031 exchange.[/ismember]

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The industrial property at 2665 N Flowing Wells Road in Tucson occupied by Weir Minerals, sold in a sale leaseback for[mepr-show rules=”58038″]$650,000 ($24 PSF) to a local investment group, 2665 Flowing Wells, LLC (Duff Hearon and Stephen Lenihan, members). The 27,168 square-foot steel building (built 1973) is on 2.66 fenced acres, with an estimated 3,000 square-feet of office and 23,168 square-feet of warehouse space.

In February 2013, the Wales’ Group of companies including: R. Wales & Son Ltd. in Richmond, British Columbia; Versatile Wales Ltd. in Elliot Lake, Ontario; and R. Wales & Son LLC (Gary Wales) in Tucson, Arizona became part of Weir Minerals. Jointly, there are 67,000 square-feet of manufacturing space, 9,000 square-feet of warehouse space and 6 acres of yard space.

These facilities are equipped with an extensive range of machinery allowing Wales to produce innovative and diverse products. This, in combination with knowledgeable staff and a broad manufacturing base, has made the Wales name prominent in the field of abrasion resistant products for the mining industry since 1971.

The addition of Wales into Weir Minerals has added capabilities with the design, steel fabrication and rubber lining of piping, tanks, chutes, material conducting hoses and other elastomer lined products. The Wales’ Group also specializes in custom rubber and urethane molded products, some of which include slurry pump wear parts, floatation wet ends, mill liners and pulp lifters.

Weir Minerals is the global leader in the provision of slurry handling equipment and associated aftermarket support for abrasive high wear applications used in the mining and oil sands markets. The division’s leadership position is reinforced by materials development carried out at research centers worldwide and a leading presence in key mining markets, with around 100 service facilities providing rapid customer support.

Weir, founded in 1871 and headquartered in Glasgow, Scotland, is a FTSE 100 company, the Financial Times Stock Exchange 100 share index; an average of share prices in the 100 largest, most actively traded companies on the London Stock Exchange. Weir is a global provider of engineering solutions to the minerals, oil and gas and power sectors.

Weir is committed to going where their customers go, with a worldwide network of around 200 manufacturing facilities and service centers. The business has a presence in more than 70 countries, with over 14,000 staff around the world working in three divisions; Minerals, Oil & Gas and Power & Industrial. Weir’s customer base includes the world’s largest mining houses, major oil services businesses and nuclear and conventional power generation companies.

Annual revenues were more than £2.2 billion ($3.4 billion USD) in 2011, of which more than half came from the provision of services and aftermarket support. Emerging markets contributed around one third of overall Group revenues.

David Gallaher of Tucson Industrial Realty in Tucson represented the seller, while Brandon Rodgers, CCIM, Commercial Specialist with Cushman & Wakefield | Picor of Tucson was representing the investors.

See www.weir.co.uk for further information. Gallaher can be reached at (520) 294-1610 and Rodgers is at (520) 546-2714.[/mepr-show]

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[ismember]Sale date: 10/8/2013. Buyer paid $275,000 down and financed the balance with conventional financing. Building has 16′-20′ clear height. Zoning: I-1, City of Tucson. Power: 480 V, 3-phase. 3 grade level doors in Manufacturing area, 2 grade levels in warehouse area with concrete dock ramp on exterior of building. APN: 107-07-007C [/ismember]