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Arizona-based home builder, Maracay Homes finalized the acquisition of 122 acres at the Rancho Vistoso ‘Donut Hole’ for nearly[mepr-show rules=”58038″] $23 million ($187,000 per acre) in Oro Valley. This last remaining large parcel in the Rancho Vistoso community sold with a preliminary site plan approval for 345-lots ($66,100 per lot). Upon completion, Maracay’s investment in land and land development is expected to be $41 million in the community with planned amenities.

The “Donut Hole” property, so named because of the way the golf course wraps around it, is on the 8 holes at the back hook of the course. It was assembled by True Life Communities, a private company from San Ramon, CA (Taber Anderson, CIO) in 2012. True Life advanced entitlements to site plan approval for the 345-lots.

Maracay Homes will be developing only 31% of the total allowable density for home sites, reduced from the original 1,100 total residential lots allowed by original zoning. The final plan consists of six distinct gated neighborhoods featuring a mix of executive, vacation (lock & leave) and family home plans from Maracay Homes’ New Arizona Living Collection with four home models aimed at maximizing the community’s views and features.

“Rancho Vistoso further demonstrates Maracay Homes’ continued commitment to the Tucson market,” said Andy Warren, President of Maracay Homes. “It is a stunning location that allows us to showcase our New Arizona Living Collection to a wider range of home buyers.”

The New Arizona Living Collection is a series of all new home designs strategically crafted to reflect the lifestyles and desires of the post-recession buyer. The Collection builds on the customization that Maracay Homes FlexDesign program already provides, providing a variety of home plan choices and amenities designed to meet buyer’s needs at every life stage.

The Rancho Vistoso announcement adds to a growing list of Maracay Home’s communities planned in the Tucson-area. Three new communities opening early next year include Deseo at Sabino Canyon in the Foothills, a 39-lot community opening in 2014, Rancho Del Cobre in Oro Valley, 68-homes in this gated community opening the new year, and Tortollita Vistas in Marana with 54 oversized home sites, now open with model construction starting. Maracay Homes’ Rancho Vistoso timeframe is to have final plat by March 2014, and be able to start land development by Q2 2014 for sales in early 2015.

Rancho Vistoso lots sizes will vary with largest 80 foot wide by 140 feet deep with adjustments being made to the current home models to fully take advantage of the property. “With the News Arizona Living Collection, Maracay Homes has taken a fresh approach to home design for Arizona,” said Warren. “The plans not only keep pace with current lifestyle trends, they anticipate home owner experiences and preferences.”

Features like an “owner’s entry” – with cubbies for personal items and a technology station for docking cell phones and electronic devices – replace the traditional laundry room entrance through the garage. A secret passageway allows homeowners to access the laundry room from the master closet, creating a more efficient way to manage laundry and housekeeping needs.

Generation suits have been added for multi-generational households. Expansive bonus rooms provide space for the hobbyist. Large islands are at the heart of open kitchens designed for central gathering and socializing. In lieu of formal dining rooms or home theaters are flexible working nooks, serving as a casual home office or study room. Outdoor living rooms integrate nature into the home, expanding everyday living spaces beyond the four walls. Spa-like master bathrooms elevate homes from simple to sophisticated.

In addition to innovative features and appealing aesthetics, Maracay Homes’ Living Smart program, offering the latest energy-efficient technologies and sustainable building practices, s incorporated into these new plans. These design elements, components and appliances offer the latest in comfort and performance as well as cost savings.

Will White with Land Advisors Organization of Tucson represented the seller and buyer in this transaction.

For more information, White can be reached at (520) 514-7454 and visit www.maracayhomes.com for more information on Maracay Homes’ new Tucson communities opening 2014.[/mepr-show]

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[ismember]Sale Price: Two documents combined for $22,793,840. Sale date: 10/1/2013. Lots sizes and number: 80’x 140’ (74-lots), 70’x 140’ (87-lots) , 55’x 125’(81-lots), and 47’ x 95 (103-lots).[/ismember]

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NORTHEAST SUBMARKET
Smile Spa dental office at 2494-2498 East River in Tucson transferred to Dr. Manu Alexander from the retiring Dr. Mickel Malek for[mepr-show rules=”58038″] $1.65 million ($220 PSF). The property consists of two legal condominiums at Hacienda Del Sol Office Complex (built 2004) that total 7,500 square-feet. The buyer is also taking over the practice from the retiring Dr. Malek and will owner occupying the suites.

JOHAJISO, LLC (Joanne Haupert and James Soward) of Tucson purchased the 1,751 square-foot office at 4858 East Broadway for $210,000 ($120 PSF). The office was built in 1962 and is located in Hoffman Addition on a 10,905 square–foot lot. The seller was Gethman Charitable Remainder Unitrust. We were unable to determine the broker(s) involved in this transaction.

Daniel and Christina Reichardt and James Gosses of Tucson purchased the 1,268 square-foot office at 1160 N Craycroft Road for $92,150 ($73 PSF). The property was a former massage studio built in 1972. The seller was Murray Rulney of Tucson. We were unable to determine if there were broker(s) involved in this transaction.

CENTRAL SUBMARKET
Barrel Cactus Properties, LLC (Miriam Holly Klaiman) of Tucson bought the 1,236 square-foot office at 3050 N Country Club Road in Tucson for $140,000 ($113 PSF). The property was built in 1974. The seller was Kuang Chang Chow as trustee. We were unable to determine whether or not there were broker(s) involved in this transaction.

Mugga Investments, Inc. (Frederick and Jayne Shaffer) of Tucson acquired the 4,508 square-foot office at 3130 N Dodge Blvd. in Tucson for $225,000 ($50 PSF). The property was built in 1973 on a 17,650square foot lot. The seller was Our Family Services, Inc., a non-profit organization in Tucson. We were unable to determine whether or not there were broker(s) involved in this transaction

SOUTH SUBMARKET
Jose Jimenez of Tucson purchased two office buildings at 4855-4863 S 12th Avenue in South Tucson for $300,000 ($105 PSF) for the 1,087 square foot building (built 1982) on 8,209 square-foot lot and the 1,764 square foot building (built 1961) on the same size lot, 8,209 square-feet.. The buyer occupied the adjoining property at 4841 S 12th Ave prior to the sale. We were unable to determine whether or not there were broker(s) involved in this transaction.

EAST SUBMARKET
4337 East 5th Street, LLC (Raymond Magnuson) of Tucson dba Magnuson Insurance Associates bought the 1,103 square-foot building to owner occupy for his insurance firm at 4337 E 5th Street in Tucson for $160,000 ($145 PSF). The building was built in 1978 on a 6,825 square-foot lot. The seller was DuPont Properties, LLC (William and Elizabeth Ross) of Tucson. Tony Reed of Long Realty in Tucson represented the buyer in the transaction. Pat Welchert of Picor was representing the seller.

Reed can be contacted at (520) 918-5189. Welchert is at (520) 546-2748.[/mepr-show]

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[ismember]2494 E River – sale date: 8/23/2013. sale price $1,65,000 down payment $45,000 financed conventionally.

4858 E Broadway – sale date 7/17/2013. sale price $210,000. We were unable to determine down payment, if any.

1160 N Craycroft  sale date 8/19/2013. sale price $92,150. $56,075 down payment with seller carryback for balance.

3050 N Country Club – sale date 8/19/2013. sale price $140,000. All cash transaction.

3130 N Dodge Blvd – sale date 7/1/2013. sale price $225,000. All cash transaction.

4863 S 12th Ave. – sale date 7/31/2013. sale price $300,000. $50,000 down payment with seller carryback for balance.

4337 E 5th Street – sale date 9/13/2013. sale price $160,000. we were unable to determine down payment, if any. Documents show conventional financing. [/ismember]