TUCSON, ARIZONA (June 25, 2024) — Lennar Arizona, Inc. and Meritage Homes closed on 326 shovel-ready lots known as Parcels J and G of Rocking K master-planned community. The purchase price was $19,204,500. The Seller in the transactions was Rocking K Development, Co., led by Diamond Ventures, Inc. David Goldstein, President.  It is the first sale of lots in this brand-new phase of Rocking K.

This north phase is located directly across from the private HOA Diamond Community Park and has some of the master-plan’s highest elevation acreage. The lots were a mixture of 40’, 45’, and 55’ X 120’.  These new neighborhoods will have substantial open space, hiking trails, panoramic views of the Rincons, and enjoy a premier location in the community.

Designed by Nature, Rocking K spans 5,000 acres at the foothills of the Rincon Mountains and has quickly established itself as one of the top-selling master-planned communities in the Tucson metro area. Rocking K’s core philosophy revolves around seamlessly connecting neighborhoods with nature. Rocking K residents enjoy a full calendar of adult, family, and children’s events throughout the year, ensuring neighbors quickly become friends. They can look forward to an exciting array of outdoor events and programs designed to enrich their living experience. The community also benefits from being within the award-winning Vail School District. A new VUSD K-8, Saguaro Creek, will open in Rocking K in July 2025.

With close to 700 occupied homes and 2,000 homesites sold to date, Rocking K currently enjoys a robust roster of esteemed homebuilders, including Lennar, Meritage, Richmond American, DR Horton, Pulte, Del Webb, and Moderne Communities. These builders currently offer 19 model homes (including RV garage options) with move-in-ready pricing ranging from $375,000 to $575,000.

The successful transaction and marketing at Rocking K were handled by Will White and John Carroll of Land Advisors Organization in Tucson.

White commented:

“Rocking K continues to set the standard for master-planned communities in Tucson. Congratulations to Lennar and Meritage on a proactive approach to this next phase. The strong lot sales are a direct result of the performance and range of products in the community. Lots in Rocking K are difficult to secure and will continue to come at a premium”

For more information, White and Carroll should be reached at 520.514.7454.

MARANA, AZ (June 21, 2024) – TEP plans to build a new 138 kilovolt (kV) substation and upgrade existing facilities in the Town of Marana to strengthen customer electric reliability and meet growing electric demand.

As part of its commitment to the Town of Marana, TEP has recently acquired a 19.55-acre site near Grier and Wentz Roads for the infrastructure development project. This significant purchase, valued at $2.28 million ($2.68 PSF) for the raw land parcel, underscores the dedication to meeting the community’s growing energy needs and enhancing the area’s electric reliability.

Through long-term planning studies, TEP has determined that new infrastructure will be required to strengthen electric reliability and support residential and commercial development in the area. The project will expand transmission capacity to serve customers’ growing energy needs while supporting economic development in the Town of Marana and the retirement of an aging 46-kilovolt (kV) substation.

TEP had to seek approval from the Town of Marana to rezone the site, from A- Small Lot Zone to the Neighborhood Commercial (NC) zone and was approved by Marana Town Council on May 21^st for the new 138-kilovolt (kV) substation facilities to proceed. These facilities will be connected to the Saguaro to Marana dual circuit 115-/138-(kV transmission line, transforming high voltage service to distribution levels. This transformation will significantly reduce the strain on existing circuits, which are currently supported by an ageing 46-kV substation, ensuring a more reliable and efficient power supply for the community.

TEP plans to include a 12-foot decorative wall to eliminate nearby neighbors’ concerns about safety, noise, and view disruption. Next, TEP will go through the public process to secure permission from the Arizona Corporation Commission to build the connection between the planned substation and the transmission line.

The seller was Cortaro Farms, Ltd. of Missoula, MT.

Grier Subtation Location Overview

TUCSON, AZ (June 20, 2024) — The top sale last week at Cushman & Wakefield | PICOR was of a 40,078-square-foot multi-tenant investment industrial property located at 2106 N Forbes Blvd, which sold for $3,920,000, or $97.81 per square foot.

Property Details:

1. Location: 2106 N Forbes Blvd, Broadbent Business Park
2. Size: 40,078 square feet
3. Sale Price: $3,920,000
4. Price per Square Foot: $97.81

The property was acquired by Block “C” Properties LLC, a California-based investor. The seller, North Forbes, LLC, is also a private investor. Stephen Cohen, Principal and Industrial Specialist with C&W | PICOR, represented both parties in this transaction.

2106 N Forbes Blvd is a three-star industrial warehouse situated in the Broadbent Business Park. This multi-tenant property is fully occupied, with three businesses:

1. American Refrigeration Supplies: A wholesaler of HVAC equipment and supplies
2. Hamilton Distillers: A local brand renowned for its mesquite scotch whiskey
3. High Point Scientific: The largest retailer of telescopes in the United States

When the seller purchased the property in December of 2020, he remodeled one of the suites for his business, High Point Scientific, to occupy.  The property was 100% occupied at closing.

This transaction emphasizes the robust demand for quality industrial properties in the market. This successful sale of 2106 N Forbes Blvd highlights the continued interest from investors in well-located, income-generating assets.

For more information on industrial commercial real estate opportunities, please contact Stephen Cohen at Cushman & Wakefield | PICOR at scohen@picor.com or (520) 546-2750.