MARANA, ARIZONA — Lennar Arizona, Inc closed on 212 lots (45’X120′ and 60’X120’) in Block 37 of Gladden Farms for $13,650,675. The finished lots were purchased from Gladden Phase II, LLC (Crown West Land Group, Dean Wingert, Vice President).

Lennar has built homes in Gladden Farms for many years, and this is the homebuilder’s second acquisition in the community in the past 12 months. The new neighborhood will be known as Sunstone at Gladden Farms. The sale represents the second home builder purchase in the latest phase of Gladden Farms which will include over 800 lots that will be purchased and developed in 2021.

Mattamy Homes purchased 115 lots in February of this year and an additional 423 residential lots are currently in escrow with other builders. See  Real Estate Daily News March 5, 2021, Mattamy Homes enters Premiere Gladden Farms MPC.

This surge in acquisition and development activity comes as follow up to a very strong 2020 for the master-plan community.

Gladden Farms is a 1,350-acre master planned community in northern Marana, just west of Interstate 10 between Tangerine and Moore Roads. The master-plan was the top performing community in the Tucson area in 2020 with 235 new home sales and is the most active project in the Northwest Tucson submarket. The community is now home to 6 builders – Meritage Homes, Richmond American, Lennar, Pulte Homes, KB Home, and Mattamy Homes.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transactions and have the marketing assignment for all of Gladden Farms.

White commented “The pace of permits and sales at Gladden Farms continues to increase as 2021 unfolds. Homebuilders have ordered several hundred lots in anticipation of this activity and the good news is the project looks ready to provide “just in time” lot inventory to homebuilders for quite a while.”

TUCSON, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of The Corner, an 8-unit apartment property located in Tucson, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Tucson office, the asset sold for $1,100,000 ($137,500 per unit).

“The combination of recent interior renovations and optimal location at the ‘doorstep’ of the University drove investment interest in this asset,” noted James Crawley, an investment specialist for Marcus & Millichap.

Crawley and Hamid Panahi, first vice president investments in the firm’s Tucson office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

Built in 1963, The Corner consists of seven one-bedroom and one two-bedroom units that were recently remodeled to feature tongue-in-groove ceilings, stainless steel appliances, quartz countertops and high-end finishes and fixtures. The property is located at 1232-1240 East Drachman Street in Tucson, Arizona, near the northern gateway to the University of Arizona campus and on the same street as Banner University Medical Center and the University Honors College Village.

TUCSON, ARIZONA — Forestar (USA) Real Estate Group Inc. closed on 87 Acres at the SWC of Wilmot Road and Interstate 10 for $4,793,700 ($55,100 per acre). The land was purchased from Legacy Collateral Holdings, LLC (Carson Brown/Mark Winkleman)

The property is centrally located along the I-10 corridor southeast of Tucson. The land is across I-10 from the successful La Estancia MPC, University of Arizona Science and Technology Park and is in close proximity to Tucson’s major employment and retail services

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction.

White commented, “This is a great position in a corridor that is rapidly running out of entitled residential land. At the same time it is one of the most sought after areas by Tucson homebuilders.”