MARANA, ARIZONA (June 7, 2024) — Lennar Arizona, Inc., (Tom Gansheimer, Division President) closed on 287 finished lots known as Blocks 11/12/13 of the new Monarch master-planned community in Marana. The purchase price was $28,061,000. The lots were a mix of 40’ and 45’ X 120’. It is the first sale of lots in the 450-acre project.

The parcels are located at the SEC of Sandario and Barnett Roads, across the street from the Marana Municipal Complex. The developer, SBH Marana LP, an affiliate of Sunbelt Holdings (Sean Walters, President), sold the lots. Sunbelt Holdings continues to grow its lot delivery program in Tucson, with multiple large-scale projects in the Tucson metro area.

The Monarch masterplan has been one of North Marana’s most anticipated new projects. Lennars’ purchase is the first in the initial phase of 550 shovel-ready lots. Future lots phases are being prepared for late 2024 and into 2025. The project will be planned and developed for a variety of residential and commercial uses.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and are in charge of Monarch’s marketing.

Will White commented:

“Monarch is now “main and main” in north Marana. This project will set the standard for the area going forward. Lennar has been very proactive with their Tucson acquisition strategy and the relationship with Sunbelt Holdings in Tucson made way for a quick, seamless transaction. Monarch getting underway is fantastic for the area.”

To learn more, White and Carroll can be reached at 520.514.7454

MARANA, AZ (June 6, 2024) — A unique retail development is set to rise southeast of Tangerine and I-10 in Marana, offering a diverse range of retail and lifestyle options. The Tangerine Commerce Center development, with its distinctive mix of anchor tenants such as Ace Hardware and O’Reilly Auto Parts, is poised to enhance the local retail landscape significantly.

Cottonwood Properties owns approximately 100 acres that front the four-lane fully improved Tangerine Farms Road, a strategic location for business growth. Tangerine Commerce Park is zoned to accommodate a range of retail, office, and industrial uses. The first major tenant was Ventana Medical Systems, a subsidiary of Roche, the world’s largest biotech company.

This promising project is also set in the previously undeveloped area across the street from the new 2,000 SFR Mandarina masterplan community on the northeast corner.

Now, the stage is set for a vibrant retail scene to unfold!

Tangerine Gateway, LLC, a David Lee Real Estate affiliate, recently bought a 1.36-acre development site to split into three drive-thru pads for $1.3 million ($21.97 PSF).  Gordon Wagner and Ben Craney with NAI Horizon (Tucson) represented the seller, Cottonwood Properties, and Cameron Lee with David Lee Real Estate (Tucson) represented the investor.

Starbucks developer Littleton, CO-based TangerineSBUX paid $900,000 ($22.96 PSF) for its new .9-acre site, which has begun constructing the new Starbucks.  Greg Furrier of Cushman & Wakefield | PICOR (Tucson) represented the buyer, and Ben Craney and Gordon Wagner with NAI Horizon (Tucson) again represented the seller, Cottonwood.

Residents can look forward to a diverse shopping experience with the introduction of Mister Car Wash, QuikTrip, U-Haul already in place, and O’Reilly Auto Parts, Ace Hardware, Starbucks, and Taco Bell currently under construction. This development is more than just a retail hub; it’s a cornerstone for community engagement and economic growth, offering new employment opportunities and serving as a gathering place for residents. It reflects the ongoing evolution of Marana as a thriving area that values community and convenience while taking advantage of the interstate exchange for future growth.

For more information, Wagner can be reached at 520.326.2200, Craney at 520.326.4500, Cameron Lee at 520.954.8008, and Furrier at 520.546.2735.

To learn more, see RED Comps #11301, #11319, #10785 and #11186.

Tucson, AZ, (June 5, 2024) –Larsen Baker is pleased to announce the sale of Building G, the freestanding 4,998 sf office building in the El Dorado Square office campus at 1200 N El Dorado Place. The buyer, Lerdal 1200, LLC, an affiliate of Chapman Management Group, purchased the building intending to occupy a portion.

The building sold for $780,300 ($156 PSF).

Larsen Baker purchased the nine-building office complex at the beginning of the year with the strategy of upgrading the landscaping, roofs, HVAC, and other systems, backfilling the vacancies with high-quality office/medical tenants at competitive market rates, and reserving up to three buildings for sale for owner/user or investor. Only two buildings are left available for sale with the sale of Building G.

Isaac Figueroa, CCIM, SIOR, with Larsen Baker, represented the seller, and Erik Chapman, with Chapman Management, represented the buyer.

For more information, contact Figueroa at 520.296.0200 ext 218, or Chapman at 520.622.5544.