TUCSON,  Arizona —  The Metro Tucson Housing Market continues to show signs of possibly its best year since 2008.  As home builders exercise options earlier than scheduled to keep up with demand in Northwest Tucson and get creative with infill projects at the same time.

Pulte Home Company exercised its final option for 119 lots at Tangerine Ridge recently for $4.12 million ($34,615 per platted lot). Pulte purchased the first 78-homesites of 197 SFR lots at Tangerine Ridge, located east of Twin Peaks on Tangerine Road, for $2.88 million ($36,933 per platted lot) from Tangerine Estate Joint Venture (Robert Sharpe, manager).

Pulte will be responsible for finishing the infrastructure and purchased paper lots with entitlements only, along with an option for the remaining 119 lots at Tangerine Ridge in June 2016.

Ted Herman with Sharpe & Associates handled the transaction.

“Lot sizes are 50’ and 65’ wide x 120’ at Tangerine Ridge, with average lot sizes of 7,460-square-feet,” said Herman. “The road improvement costs from Tangerine Ridge connecting to Twin Peaks is to be split with the Town of Marana per entitlements and specific plan. This will be a great new community and ease the demand for mid-range priced homes in the Northwest.”

Pulte Homes also took down the final option for 109 platted lots in Del Webb Active Community at Dove Moutain for $4.86 million ($44,569 per platted lot). In February 2013, Pulte Home Corporation (NYSE:PHM) announced its plans to build approximately 650 homes on 208 acres for the Del Webb at Dove Mountain Active Community in Marana.

This is the final phase of an option agreement with Cottonwood Properties, Inc. and DM Phase IV Investments, LLC (David Mehl, CEO) that was scheduled for January 2018 being acquired earlier.

Del Webb Corporation was acquired by Pulte Home in 2001 and is a leading builder in active adult communities. The Del Webb at Dove Mountain Community will be located southwest of the Ritz Carlton Resort off Dove Mountain Blvd and will reportedly have a mixture of 40′, 50′ and 60′ wide lots.

D.R. Horton took down an option at Fianchetto Farms in northern Marana near Gladden Farms’ Community, D.R. Horton bought 12 finished lots for $471,000 ($39,250 per lot) from Fianchetto Farms, LLC. This was the sixth and final takedown of a 49-lot option within this 114-SFR lot subdivision and the fourth for this year, finishing earlier than expected.

D.R. Horton began construction here in August 2016. Lots are mostly 55′ x 110′ and has a second phase option for another 60 lots totaling 109 lots here.

 Dan Feig with Chapman Lindsey Commercial Real Estate Services handled the transaction.

KB Home Tucson purchased 7.15 acres at Oracle Jayne Station and La Cholla in Northwest Tucson for a 35-lot infill project. The land was rezoned to CR-5 and sold for $686,400 ($19,644 per platted lot).

Thrac Paulette of Cantera Real Estate represented Markland Investments and David Huebner of Tucson, the sellers. The seller has a 3.2 acre parcel remaining from this site zoned for medical use.

Homes are planned to be on 35’ x 100′ lots and be of two-story construction here.

For more information, Herman can be reached at 520.299.8766, Feig should be contacted at 520.747.4000 and Paulette is at 520.904.5055.

To learn more, see RED Comp #5012 #5040, #5035 and #5028

TUCSON, ARIZONA – Arizona Auto Spa at 8687 E Golf Links Rd in Tucson sold to a  private Colorado group of car wash owners for $328,000 ($154 PSF).

The 2,128-square-foot car was built in 1986 on a .46 acre lot located at Golf Links and Pantano Pkwy in the Eastern submarket of Tucson.

The seller was an owner operator and the buyer, ZeroreZ LLC, will be the same, with one automatic wash bay and three self-service bays and four vacuum stations.

Tony Reed with Long Realty handled the transaction for buyer and seller.

For more information, Reed should be reached at 520.918.5189.

To learn more, see RED Comp #5006.

TUCSON, Arizona – RBAZ LLC of Tucson (Rouben Beglarian, manager) purchase a free-standing retail / office building at 102-114 S Kolb Road in Tucson for $1 million ($121 PSF).

This fully leased 8,237-square-foot property is conveniently located at the Southwest corner of Broadway and Kolb, in the Gaslight Plaza, which has consistently been a popular retail cluster and one of Tucson’s most active retail centers with businesses, restaurants, spas, live performing theatre and retail shops.

The buyer was a tenant prior to sale and occupied four of the seven spaces as Green Medicine Southern Arizona Integrated Therapies, a medical marijuana dispensary. Other tenants included  Sunrise Chiropractic, Savvy Hair Salon and Body and Mind Fitness Center.

The building, which was built in 1972 underwent substantial improvements inside and out over the years. Located on C-2 zoned land which allows for a wide variety of tenants.

The seller was K.J. Kim, LLC of Tucson (Chong Hee Kim, member) and the buyer were self-represented in the transaction.