TUCSON, AZ — Three major homebuilders, Pulte, DR Horton and Richmond American, added to lot inventory this month. The following sales took place within metro Tucson over the past 30-days, totaling 172 lots and an aggregate sale price of $7.15 million.

Pulte Home Corporation purchased 83 platted and engineered 50’x120’ lots from Vail Valley Joint Venture at Rancho del Lago for $1,969,916 ($23,734 per lot). The sale closed on October 24th. Pulte plans to continue development of its single-family product at Rancho del Lago. Randy Emerson of GRE Partners, LLC represented the seller and the buyer was self-represented.

DR Horton purchased 33 finished SFR lots for $1.54 million ($46,666 per lot) at Camino Seco Village, in the eastern submarket of Tucson. The sale closed September 28th. The seller,  R.B. Price & Company Benefit Pension (Richard Price, President).  DR Horton purchased for construction of 33 single family homes.  Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented DR Horton in the transaction.

Richmond American Homes of Arizona, Inc purchased 31 finished lots at Starr Ridge for $1.473 million ($47,500 per lot) in this 105-home site community. This is the second purchase in this subdivision for Richmond.  Located just 15 minutes from downtown, the community offer spectacular mountain and valley views at the base of the beautiful Tucson Mountains, on the far west side of Tucson. Surrounded by miles of trails and breathtaking desert landscape, on the gateway to the Arizona Sonoran Desert Museum and Old Tucson Studios. The sale closed October 21^st. A majority of lots are 70’x110′.

Pulte Home Corporation purchased 11 finished lots at Molina Canyon Estates from Tucson Land and Cattle, LLC (Jim Campbell, manager) for $1.067 million ($97,000 per lot). Pulte plans to construct 11 SFRs after doing lot prep on the 80’x125’ lots. Molina Canyon Estates is an infill subdivision located southeast of Catalina Highway and Prince Road (Old). The sale closed September 22th. There were no brokers involved in the sale.

Richmond American Homes of Arizona, Inc. purchased 10 finished 70’ wide lots at Santa Cruz Meadows in Sahuarita for a price of $500,000 from Tucson Land, LLC. The sale closed on September 30th. The closing was the first takedown on an agreement to purchase of 49 lots at Santa Cruz Meadows. The seller was represented by Randy Emerson of GRE Partners, LLC and the buyer was self-represented.

DR Horton purchased 10-SFR lots for $397,500 ($39,750 per lot) at Eagle Point Estates, in the western submarket of Tucson. This was a part of a rolling option agreement for 83-lots at Eagle Point Estates, mostly 80’x100. The sale closed October 11th. The seller, Tierra Valencia of Tucson is an affiliate of the Estes Companies (Bill Estes III, manager).  DR Horton began construction at Eagle Point Estates back in January 2015 and are over half-way to completion, with 26-lots remaining.  Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented DR Horton in the transaction.

DR Horton paid $200,000 ($50,000 per lot) for four finished lots in Tierra Linda Nueva in the northwest submarket, southwest of Emigh Road and Sanders Road in Marana. This is an option takedown for 48-lots from Tierra Linda Nueva, an affiliate of Estes Land and Development of Tucson (Kip Volpe, President) in a 190 SFR lot subdivision of 36,000 SF minimum lot size. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented DR Horton in the transaction.

For more information, Randy Emerson can be reached at 520.777.4949 while Dan Feig and Aaron Mendenhall can be contacted by calling 520.747.4000.

To learn more, see RED Comps #4212, #4194, #4245, #4243, #4211 and #4257.

TUCSON, AZ — Swire Pacific Limited (“Swire Pacific”), a subsidiary within Swire Pacific’s Beverages Division, completed the refranchising from The Coca-Cola Company of territories in Arizona and New Mexico, including the acquisition of eight sales and distribution facilities in these territories. Swire Coca-Cola’s operation of the territories commenced July 30.

As part of the agreement, Swire acquired the property at 5551 W Coca-Cola Place in Marana, AZ for $5,645,464 ($59 PSF) according to public records. The 95,388-square-foot building (built 1989 and 1993) is on 12 acres in Peppertree Ranch Business Park. The seller was BCI Coca-Cola Bottling Company of Los Angeles.

The new deal follows previous territory grants in 2014, when Swire Coca-Cola, USA received expanded territories in Colorado, including Denver and Colorado Springs. The completion of the latest refranchising agreement in Arizona and New Mexico increases Swire Coca-Cola, USA’s workforce by 1,450 employees, and its population served will increase to a total of 19 million people across 13 states. Prior to this purchase, Swire Coca-Cola, USA had smaller territories in Arizona and New Mexico.

As part of the refranchising of U.S. territories from The Coca-Cola Company, Swire Coca-Cola, USA signed a Letter of Intent in February 2016 for new territories in the Pacific Northwest of the United States. The closing is expected to take place in 2017.

“Completing the Arizona and New Mexico agreement marks another significant milestone for our USA business,” said Pat Healy, Managing Director of Swire Beverages. “We have seen very strong sales from our new territories in Colorado, and we are excited by the opportunities that Arizona and New Mexico will bring. With the Pacific Northwest still to come, including the cities of Seattle and Portland, we feel very positive about the future growth potential of Swire Beverages in the USA.”

“Our growing footprint in the USA provides an important strategic counterweight to our territories in Mainland China, which as developing markets are more volatile in nature. We are proud to be given the opportunity to further strengthen our partnership with The Coca-Cola Company as we expand into these new territories,” Healy said.

“We are excited to finalize this deal with The Coca-Cola Company,” said Jack Pelo, President and CEO, Swire Coca-Cola, USA. “New territories and more employees mean more opportunities to serve more customers in more places. I am eager to bring Swire’s commitment to excellence to our new customers and communities.”

Swire Coca-Cola, USA, a subsidiary of Swire Pacific Limited within its Beverages Division, produces, sells and distributes Coca-Cola and other beverages across 13 states to 19 million people. With 4,600 employees and headquarters in Draper, Utah, the company’s territory includes parts of Arizona, California, Colorado, Idaho, Kansas, Nebraska, Nevada, New Mexico, Oregon, South Dakota, Washington and Wyoming.

Brenna Lacey and Dave Hammack of Volk Company in Tucson negotiated for the seller, Evergreen-Steam Pump, L.L.C. in the sale of two pads at Steam Pump Village in Oro Valley, Arizona for a total of $1.475 million:

• Steampump Native purchased approximately 58,072-square-feet of land at 11107 North Oracle Road for $825,000 ($14 PSF)
• Steampump Freddy’s LLC purchased approximately 67,751-square-feet of land at 11143 North Oracle Road for $650,000 ($9.59 PSF)

Freddy’s Custard & Steakburgers’ restaurants average between 3,200- and 3,500-square-feet and typically have indoor seating for roughly 100 individuals, with additional seating on the patio. Drive-thru service is also available.

This will be Freddy’s 4^th location in the metro Tucson region.

In 2014, Native New Yorker officially updated its name to Native Grill & Wings. These days, a strong leadership team has majority ownership of the company. Together with the founding family and a growing group of franchisees, the new owners are working toward expanding Native Grill & Wings and receiving nationwide recognition. Recently named on Restaurant Business Magazine’s Future 50, Native has become known as a polished family-friendly sports grill that proudly offers over 20 wing flavors that guests can still order by the each!

Typical restaurants average between 5,000- and 5,600-square-feet. This will be Native Grill & Wings 5th restaurant in the metro Tucson region.

The buyer is a developer for both restaurants.

Steam Pump Village is a 42-acre, mixed-use project containing other businesses and amenities such as Basis School, Chili’s, Quik Trip, Holiday Inn, Tucson Children’s Museum, and new luxury apartments by HSL.

For more information, Lacey and Hammack should be reached at 520.326.3200.

To learn more see RED Comp #4204 and #4205.