Richmond American Homes of Arizona, a subsidiary of MDC Holdlings, Inc. (NYSE: MDC), is buying 56-SFR lots at Madera Highlands Villages in the Town of Sahuarita and recently closed on the first six lots for $483,000 ($80,500 per lot). The roughly one-acre lots were originally developed by the Toll Brothers for luxury home construction and resold to MK Company Southwest of Scottsdale (Keith Holben, principal) during the market downturn.

MK Company Southwest is the seller for the rolling option to Richmond American.

The Madera Highlands Villages at Madera Highlands, Richmond American’s newest community in this established masterplanned community, will offer a distinctive collection of single and two-story floor plans. New homes will showcase beautifully appointed exteriors and open, inviting layouts with exceptional included features, such as tile flooring, stainless-steel appliances and granite kitchen countertops.

Since 1972, MDC’s subsidiary companies have built and financed the American dream for more than 175,000 homebuyers. MDC’s commitment to customer satisfaction, quality and value is reflected in each home its subsidiaries build. MDC is one of the largest homebuilders in the United States. Its subsidiaries have homebuilding operations across the country, including the metropolitan areas of Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, Riverside-San Bernardino, Los Angeles, San Francisco Bay Area, Washington D.C., Baltimore, Philadelphia, Orlando, Jacksonville, South Florida and Seattle. The Company’s subsidiaries also provide mortgage financing, insurance and title services, primarily for Richmond American homebuyers, through HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company, respectively.

Will White of Land Advisors Organization in Tucson handled the transaction and had this to say, “After the dismantling of the market over the past few years, this transaction shows signs the market is coming back to where it was before the downturn.”

White should be reached at (520) 514.7454 for more information. Richmond American can be contacted at (520) 544.2700.

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[mepr-show rules=”58038″]Sale price: $483,000. Sale date: 5/16/2014. Al cash. APN: 304-31-554, 576, 577, 588, 590 & 591. Legal: Lots 13, 35, 36, 47, 49, & 50 Village 22 Madera Highlands: Villages 11 thru 14 and 16 thru 23 bk 59 pg 65.[/mepr-show]

Redyns Development LLC of Tucson (Harold Snyder, manager) bought a 15,000-square-foot office building at known as Fountains Plaza at 2070 W Rudasill Road in Tucson for $4.3 million ($287 PSF) in an all-cash transaction.

Fountains Plaza is a single-story medical office center (built 1998) consisting of approximately 14,976-rentable-square-feet on 1.47 aces. The building is 100% occupied by US Oncology on an Absolute NNN lease through December 2014. The tenant has recently remodeled their premises and expanded their leased space to the entire building. US Oncology is affiliated with over 1,000 physicians operating in more than 440 locations including 90 cancer centers and radiation facilities in 39 states.

The building is strategically located on the Northwest Medical Center campus which is a 300-bed, full service hospital with 1,800 employees.

David Montijo and Michael Sandahl of CBRE in Tucson represented the sellers, an investment group formed by Don Bourn, Fountains Medical Plaza Investors LLC of Tucson and BP Fountains Plaza LLC (Toufic Abi-Aad and Don Bourn, members).

The investor was represented by Russ Hall and Steve Cohen of Cushman & Wakefield of Tucson.

Montijo can be reached at (520) 323-5136 and Sandahl is at (520) 323-5115. Hall should be reached at (520) 546-2747 and Cohen is at (520) 546-2750, for more information.

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[mepr-show rules=”58038″]Sale date: 5/1/2014. Sale price: $4,291,776. All cash deal. Property sold with a 7% cap rate.[/mepr-show]

CODAC Behavioral Health Services bought 1025-1075 East Fort Lowell Rd in Tucson from Ventura Canyon Property, LLC of Tucson for $1.485 million ($69 PSF).

The 21,421-square-feet in three office condominiums, known as Cobblestone Court Condominiums was built 1984 on a 1.28 acre lot northeast of Fort Lowell and First Avenue in Tucson.

CODAC is well known in the community for offering health services and a productive life to those recovering from mental illness and addiction. CODAC provides a full continuum of professional care to adults and teens (ages 12+) who want help for behavioral health issues including

• Substance abuse
• Trauma
• Depression, anxiety, anger, relationship troubles and other general mental health issues
• Schizophrenia, bipolar disorder, major depression and other serious mental illnesses and mood disorders.

Award-winning prevention programs help youth be healthy and resilient, parents be strong and loving, and communities be safe and stable.

Tom Knox, SIOR and Paul Hooker with Cushman & Wakefield | Picor represented the buyer. Dan Wesson with The Waterfall Group represented the seller in this transaction.

Knox and Hooker should be reached at (520) 748.7100 while Wesson can be contacted at (520) 529.6400 for more information.