Richmond American Homes to Build New Neighborhood in Rancho Sahuarita

SAHUARITA, ARIZONA — Richmond American Homes is the second homebuilder to join Rancho Sahuarita’s newest neighborhood of Entrada Del Rio, with the purchase of 42 finished lots for $2.41 million ($57,286 per lot). Last month, Lennar closed on the first 82 lots in the neighborhood.

Entrada Del Rio offers new homeowners ease of access in and out of the community, close proximity to the Rancho Sahuarita Marketplace, the Parque Del Rio neighborhood amenity, and a convenient location close to other amenities and schools.

Richmond adds to its Entrada La Villita neighborhood with its Seasons™ Collection that boasts larger floorplans, higher bedroom counts and a new model for prospective buyers in the market. Tucson Division President for Richmond, Michael J. Del Castillo, commented on the exciting announcement saying: “Our Seasons product was meticulously designed with homebuyers’ needs and budgets in mind, and has performed extremely well in the Tucson market. We’re elated to once again be building in Rancho Sahuarita and to bring these stunning and highly sought-after floorplans to the community.”

Entrada Del Rio will eventually be comprised of nearly 558 new home lots, to be opened in various phases featuring various builders. Richmond’s new home offerings will feature ranch and two-story plans engineered to maximize space and comfort with included 9’ main floor ceilings, open layouts with center-meet patio doors, available lofts and tech centers per plan, and much more. Homes will range in size from approximately 1,810 – 2,630 sq. ft., 3-6 bedrooms and 2 to 3-car garages.

Additional information and specifics about the new floor plans and included features will become available in the coming months.

Jeremy Sharpe, Chief Operating Officer, for Rancho Sahuarita, also commented on the launch of the new neighborhood, saying, “Richmond has been a long-time builder in Rancho Sahuarita and has built hundreds of homes in the community. We are thrilled to continue that tradition and have a second offering for new buyers in Entrada Del Rio.”

To get updates about Entrada Del Rio and to sign up for the neighborhood interest list, please visit www.RanchoSahuarita.com/DelRio. For more information about Richmond American Homes’ Seasons™ Collection at Entrada Del Rio, please visit www.richmondamerican.com Additional information about other builders will also be released in the coming months, and those who join the interest list can be among the first to get those updates.

To learn more, see RED Comp #6410.




Oracle Crossing Shopping Center Trades for $41.1 Million to Town West Realty

Cushman & Wakefield sells Sprouts anchored neighborhood center

ORO VALLEY, ARIZONA – Cushman & Wakefield completed the sale of Oracle Crossings at 7805 N Oracle Road in Oro Valley, a Sprouts Farmers Market anchored neighborhood shopping center, and located in Oro Valley, Ariz. Tucson-based Town West Realty (James Horvath) purchased the property from Weingarten Realty of Houston, Texas for $41.1 million ($163.54 PSF).

Michael Hackett and Ryan Schubert of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.

Oracle Crossings is a 251,194-square-foot shopping center located at the southwest corner of Oracle Road and Magee Road. The center, anchored by Sprouts Farmers Market, Kohl’s and Home Goods, is currently 98.2 percent leased to a diverse tenant roster.

“Oracle Crossings shopping center services Oro Valley with daily needs retailers including Sprouts Farmers Market. Town West Realty made an attractive purchase of this asset in this affluent suburb north of Tucson,” said Executive Managing Director Michael Hackett.

To learn more, see RED Comp #6397.




Multifamily Portfolio with 5 Properties in Tucson Sells for $3.724 Million

TUCSON, Arizona – Gould Family Properties VIII, LLC of Tucson (Wayne & Amy Gould managers) purchased 69-units in five separate properties for a combined total of $3.724 Million ($54,000 per unit). The sellers were various limited liability companies managed by James and Joan Johnston of Tucson.

The properties included 1620-1650 E Blacklidge Dr in Tucson with 24-units, 3801-3829 N Country Club Road with 16-units,1802-1820 N Fomeus Ave. with 10-units, 3220 E Terra Alta Blvd. with 10-units, and 3501 N Country Club with 9-units.

The portfolio was 95% occupied at time of sale.

Allen Mendelsberg with Cushman & Wakefield | Picor handled the transaction for buyer and seller.

For more information, Mendelsberg should be contacted at 520.546.2721.

To learn more, see RED Comp #6385.