California Buyer Acquires A-Access Self Storage in Tucson for $1.9 Million
A-Access Self Storage, 4070 E 29th Street, Tucson, AZ
Judd Property, an affiliate of the Hagger Group of Canoga Park, CA (Chad Hagger, principal) purchased A-Access Self Storage at 4070 E 29th Street in Tucson for $1.9 million ($7,983 per unit).
The 31,415-square-foot self-storage facility with 238 units located sits on 2.75 acres, allowing room for expansion. A well-established Budget Truck rental business was also included in the transaction.
Located just off I-10 near the University of Arizona. The property was reported to be 85-90% occupied at time of sale with growing rental rates and stable financials. The buyer owns other self-storage businesses and has plans for expansion into semi-fixed and portable storage.
Michael Brazill and Roger Jeffries with Sun Commercial Real Estate in Las Vegas and Paul Miachika with Sun Commercial in Phoenix handled the transaction for the seller, A-Access Self Storage, LLC of Tucson (DR McMillin, manager) and the buyer.
To learn more Brazill can be reached at 702.968.7306, Jeffries at 702.968.7334 and Miachika can be called at 602.814.0661.
For additional information see RED Comp #3140.
Meritage Homes Chooses La Estancia MPC Green Parks and Amenities
La Estancia Park (click to enlarge)
Scottsdale-based Sunbelt Holdings announced the closing of the first 195 lots within their La Estancia master planned community to Meritage Homes, the eighth-largest public home builder in the United States. Sunbelt Holdings will begin development on 115- 45’x110’ lots and 80- 50’x110’ lots in early August in preparation for a Meritage Homes’ model completion and community grand opening in early 2016.
The lots commanded a sale price of $2.2 million ($11,282 per platted lot) for land value.
The 565-acre La Estancia community is centrally located along the I-10 and within close proximity to the University of Arizona, the Davis-Monthan Air Force Base, Tucson International Airport and within the highly-ranked Vail School District, will include up to 2,500 homes at build out in the southeastern submarket of Tucson.
“We are pleased to announce the sale of the first 195 lots within the La Estancia master planned community to Meritage Homes,” said Sean Walters, chief operating officer of Sunbelt Holdings. “It is exciting to bring such a high-quality builder to the community and we appreciate all the efforts of the city of Tucson’s development services team who were instrumental in the transaction.”
Upon grand opening, Meritage Homes’ residents at La Estancia will surround the community’s planned community park and great lawn, envisioned as the hub of connectivity and community gathering; a community pool, with a children’s splash pad, covered ramada, picnic tables, outdoor showers and restrooms; and tree-lined streets that will create a timeless sophistication and modern charm.
“We are proud to add La Estancia to our existing collection of Tucson communities,” said Jeff Grobstein, Meritage Homes’ regional president. “We were drawn to the La Estancia community because of its’ centralized and accessible location, thoughtful land plan, and distinctive design.”
Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and represented the seller.
La Estancia Park (Click to enlarge)
La Estancia’s first phase of 258 lots includes an additional 63 lots sized at 65’x110’ that Sunbelt Holdings will continue to market to home builders. La Estancia is among three Tucson-based communities that Sunbelt Holdings will develop. Other Tucson communities include the 550-acre Sendero Pass community and the 1,598-acre Sycamore Canyon community.
Sunbelt Holdings has been a recognized leader in real estate development, management and investment throughout the Southwest since 1979. Over the years, the firm has gained an understanding of the area’s unique characteristics that only time and experience can teach. Sunbelt entered the local market more than 30 years ago with a strong presence in commercial development and asset management. Early projects like the Phoenix Gateway Center remain successful icons. Recent acquisitions of turn-around assets have provided unique opportunities to add value in the ‘Class A’ office market with the Marina Heights project in Tempe, and the PV|303 industrial project in the West Valley. Sunbelt also developed some of the Valley’s most beloved residential communities including McDowell Mountain Ranch in Scottsdale, Power Ranch in the East Valley and Vistancia in the Northwest Valley. In all, Sunbelt has developed more than 50,000 acres of land during the past 30 years. For more information, please visit www.sunbeltholdings.com
To learn more White and Carroll should be reached at 520.514.7454.
For additional information see also RED Comp #3157.
Sunbelt Buys 401 Sycamore Canyon Lots as New School Breaks Ground
Sycamore Canyon II showing new school site (Click to enlarge)
Sunbelt Holdings (Bob Bambauer, Vice-President) bought 401 platted and engineered lots in Sycamore Canyon Phase II for $3.3 million ($8,229 per lot). Nestled near the base of the Santa Rita Mountains, Sycamore Canyon is a remarkable master-planned community offering a perfect blend of solitude, natural beauty, and convenience in the Vail School District. The 401-lots consists of (150) 70 ft., (87) 80 ft. lots and the balance ranging from 10,000-square-feet to under half acre estate lots located in southeast Tucson, west of Houghton Road and south of Sahuarita Road at Harrison.
The seller and developer, PSP Ventures LLC, an affiliate The Remington Group of Tucson (Jamie Argueta, manager) donated approximately a 5.5 acre site, at the end of Sycamore Canyon Road, to the Vail School District for construction of a new K thru 5 elementary school that is scheduled to break ground this September for a 2016 opening.
One of the distinguishing characteristics of the Vail School District is the positive relationship that exists between the school district and its surrounding community. Local businesses, government officials, and non-profit organizations often step to the plate with assistance.
The Remington Group will continue to maintain the Sycamore Canyon Conservation Foundation committed to the conservation, protection and appreciation of the Sycamore Canyon Preserve’s 1,100 acres of natural open space. Under the stewardship of the Foundation, residents are assured that the land will never be modified, changed or infringed upon.
The Sycamore Canyon HOA and Southwest Regional Water for the project will also stay in the charge of the seller.
Sycamore Canyon Site Plan (click to enlarge)
Sycamore Canyon already consists of several diverse neighborhoods, each with a distinctive character of its own. At the heart is the Village Center. It offers areas for active recreation, walking, and public gatherings, and features higher-density residential housing. Flowing outward are the Rural Residential neighborhoods, followed by the spacious Village Estates.
Three home builders have been active in Sycamore Canyon, Richmond American, Sombra Homes and Pepper Viner offer a variety of homes within the Sycamore Canyon Phase I portion of the community, with architectural themes that reflect the region’s heritage of Spanish, Mission and Southwestern traditions.
To foster a feeling of community, there are bike paths and pedestrian walkways following quiet, tree-lined neighborhood streets. Peaceful trails and pathways meander through the abundant open spaces. Trails are also planned accordingly from new home site in Sycamore Canyon II to the new school.
