The Sanctuary at Silverhawke by Meritage Homes

Meritage Homes of Arizona (Jeff Grobstein, President Desert Region) purchased approximately 150 acres for $2,526,480 ($57,420 per lot) for a new, gated community in Oro Valley. Located within one of Tucson’s most prestigious areas, Sanctuary at Silverhawke will feature 44 new, energy-efficient homes on large homesites, coming in 2017.

The new community is located southeast of Palisades and First Avenue in Oro Valley and will be a cluster project with development around a floodplain and Environmentally Sensitive Land (ESL) requirements for the property.

Meritage hopes to break ground in December on this new gated community with plans to build 3,000-4,000 square-feet semi-custom homes for sale by July 2017.

Greg Wexler with Wexler & Associates represented the seller, Capri Company LLC (Herb Kai, manager).

For additional information, Wexler can be reached at 520.744.8500.

To learn more, see Red Comp #4149.

Replat of The Retreats at Vistoso Condominiums by Mattamy Homes

The Retreats at Vistoso Condominiums, platted for 124 condominiums, was purchased by Mattamy Tucson (Jimmy Gaulin, Land Acquisitions) for $1.075 million to replat for 42 homesites ($25,595 per lot). The approximately 14-acres is located at the southeast corner of Moore Road and Rancho Vistoso Blvd in Oro Valley.

Mattamy plans it will take 14-months to replat before ground breaking and another a year after that before selling in this new subdivision that hasn’t been named yet.

Mike Carlier and Jim Vincent with the Carlier Company in Tucson represented the seller, Keith G3 of Tempe, AZ (Charles Keith, manager).

For more information, Carlier and Vincent can be reached at 520.548.0216.

To learn more, see RED Comp #4108.

SCOTTSDALE, AZ – The former RoomStore furniture store at 15826 N. Scottsdale Rd., Scottsdale sold for $8.25 million  ($263.00 PSF). The company filed bankruptcy in December 2015 and closed all Arizona stores, including this location.

Tom Boyle, Principal with Lee & Associates, brokered the transaction. The buyer was Bridge Enterprises, LLC, Phoenix, while DJD Property Holdings, LLC, Scottsdale, was the seller. The transaction closed August 18.

Built in 2000, the 31,333-square-foot freestanding retail building was a showroom for the furniture company which had locations throughout Arizona. It sits on 2.23 acres in the popular retail corridor of North Scottsdale Rd. close to many amenities including Scottsdale Quarter, Kierland Commons and Scottsdale Promenade.

The building is currently available for immediate occupancy.  For more information, Boyle should be contacted at 602.954.3753.

Chispas, LLC of Chandler, Arizona (Branden Sparks, manager) purchased an 18,550-square-foot industrial warehouse located at 850 and 860 East 17^th Street in Tucson. The property was commanded a sale price of $840,000 ($45.28 PSF) from the Norman F Thomas and Mary Lucille Thomas Trust, and Alfred and Louise Thomas Family Trust.

The buyer, dba Aire Filter Products, is a leader in the air quality industry with over 50-years’ experience meeting commercial, industrial and residential air quality needs. Buyer purchased to owner occupy the building.

Family owned and operated, with headquarters in Phoenix, the company has locations in Mesa,AZ; Los Angeles and San Diego, CA; Boise, ID; Albuquerque, NM; Salt Lake City, UT; Kent, WA and Tucson.

Stephen D. Cohen, Russell W. Hall, SIOR, GSCS, and Rob Zimmerman with Cushman & Wakefield | Picor represented the seller. Skylar Bennett with Menlo Group Commercial Real Estate in Mesa represented the buyer in the transaction.

For more information, Cohen, Hall and Zimmerman can be reached at 520.748.7100 and Bennett should be called at 480.659.1777.

To learn more, see RED Comp #4084.