Enclave Holdings, LLC a company formed by Terry Klipp of Terramar Properties, Inc. of Tucson purchased the conceptual site plan for a new 70-lot residential subdivision, known as Stone Canyon Enclave, for $3 million ($43,000 per lot). Located in Stone Canyon in Rancho Vistoso, north of Tortolita Mountain Circle and east of Hohokam Village Place in Oro Valley, the property is also known as the Stone Canyon Donut Hole due to its vicinity to Stone Canyon Golf Course.

The property was platted in two phases with the first 36-lots reported last October when the Oro Valley Town Council approved the conceptual plan for a medium density residential 36-lot single family subdivision. The final plat for Stone Canyon Enclave with an additional 34-lots has since been submitted for the Rancho Vistoso Planned Area Development.

Surrounded by the Stone Canyon Golf Course, the subdivision will sit on approximately 28 acres of vacant property and feature single-story homes on lot sizes ranging from 10,000 to 15,000-square-feet and 80’ frontage. Zoning would have allowed for almost double this density, Klipp told us.

The property will feature two points of ingress and egress, from Rock Haven Place on the south and Hohokam Village Place on the north.

Klipp says “The development of the Stone Canyon Enclave site will not be without challenges, it has the golf course on three sides that bring setbacks requirements and after all, it is called “Stone Canyon” for a reason.”

Klipp and partner, Bob Morken of Terramar Properties, with extensive business experience in site development over the past 25-years, are excited about the prospects for this premier upscale subdivision in Oro Valley.

Jim Vincent and Mike Carlier of the Carlier Company represented the buyer and seller, RAHFT Holdings of Tucson, an affiliate of the Hansen Family Foundation (Paul and Susan Lea Clifton, managers).

Klipp should be contacted at (520) 577-7800. Vincent is at (520) 548-0216 and Carlier at (520) 529-3800.

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[mepr-show rules=”58038″]Sale date 2/19/2014. $2 million down. Buyer has agreement with Fairfield Homes (David Williamson) but was not willing to talk about builder at this time. Property was in escrow for over a year due to entitlements.[/mepr-show]

The Tucson Sonic Drive-in franchise owner, Stuart Carey, has structured a sale leaseback on six of his nine Sonic restaurants in Tucson for $3.12 million. The sale price was for partial interest in four of the six properties at 2222 E Broadway, 3800 N First Ave, 9439 E Broadway Blvd, and 7940 N Thornydale Road. The Sonics at 1001 W Grant Road and 8000 E Golf Links Road in Tucson were for 100% ownership for an aggregate amount of $1.87 million ($678 PSF).

The buyer was B&B Merritt Real Estate of Las Cruces, NM (Bobby Merritt, chairman), also a Sonic franchisee based in New Mexico. Terms of the leaseback were undisclosed.

Sonic, American’s drive-in fast-food restaurant chain is based in Oklahoma City, Oklahoma. As of August 31, 2011, there were 3,561 restaurants in 43 U.S. States, and 28 of them right here in Arizona, serving approximately 3.6 million customers per day. In 2012, it was ranked 11th in QSR Magazine’s rankings of the top 50 quick-service and fast-casual restaurant brands in the nation. Known for its use of carhops on roller skates on, the company annually hosts a competition to determine the top skating carhop in its system. It also hosts, with Dr. Pepper, an internal competition between drive-in employees. The company’s slogan is “America’s Drive-In.”

Although Sonic has operated since the early 1950s, Sonic Corp. was incorporated in the State of Delaware in 1990. It has its corporate headquarters in Oklahoma City, Oklahoma; the headquarters building features a dine-in Sonic restaurant in an adjacent building. Its stock trades on NASDAQ with the symbol SONC.
There were no brokers reported in the sale.

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[mepr-show rules=”58038″]8000 E Golf Links, sale date 2/18/2014, sale price: $1.2 million for 100% ownership.
1001 W Gran Rd, sale date: 2/18/2014, sale price: $675,000 for 100% ownership.
9439 E Broadway Blvd, sale date 2/18/2014, sale price: $450,000 for 50% ownership.
3800 N 1st Ave, sale date 2/18/2014, sale price $350,000 for 66.67% ownership.
2222 E Broadway Blvd, dale date 2/18/2014, sale price: $360,000 for 50% ownership.
7940 N Thornydale Rd, sale date: 2/18/2014, sale price: $80,946 for 25% ownership.[/mepr-show]

KB Home Tucson purchased 57 P&E lots at the new La Cima Esplendora subdivision, 23.51 acres located on the southwest corner of Houghton Road and Escalante, for $1.6 million ($27,500 per lot).

The new residential cluster project has southeast Tucson high elevation lots that provide views of Tucson from this elevation and Rincon Mountains views to the east, and $400,000 homes sold just east of this across the road from this subdivision.

Lots have engineered plans approved needing utilities to start build.

KB Home offers product to first-time homebuyers or those looking to move up. From a wide selection of ranch and 2-story homes in Vail. With small town charm and just a short drive to shopping, dining, recreation, major employers and downtown, plus ENERGY STAR® qualified.

Will White with Arizona Land Advisors in Tucson represented Landmark Title Trust #18,174-T, a group of individual sellers, and the builder.

White can be reached at (520) 514-7454.