SAHUARITA, ARIZONA – Richmond American Homes recently bought 71 finished lots at Entrada La Villita, the newest community in Rancho Sahuarita Master-Planned Community, for $3.266 million ($46,000 per lot) from Rancho Sahuarita VIII, an affiliate of Sharpe & Associates (Robert Sharpe, president).

Ted Herman with Sharpe & Associates, who represented the seller in the transaction told us the decision to finish these 40’x 90’ lots in this new subdivision began about one year ago.

“We were waiting for retail to catch up with price point appreciation,” Herman said. “That seems to be happening now, and the outlook for new home builders looks great again. Rancho Sahuarita is also finishing another 165-lots which are already in escrow with two homebuilders.”  Entrada Del Rio has the potential for 560-lots to be finished, planned in six-phases.

Richmond’s long relationship with Rancho Sahuarita began in 2001 with the Presidio Del Sol neighborhood, before moving north into Presidio San Xavier, Presidio Coronado and Presidio Del Norte, which closed out last year.

“We’re delighted to be building in Rancho Sahuarita again,” said Michael J. Del Castillo, President of the Tucson Division of Richmond American Homes of Arizona, Inc. “In addition to all the wonderful amenities the community boasts, Entrada La Villita will feature four different two-story floorplans designed with homebuyers’ needs in mind.”

Rancho Sahuarita is located in the town of Sahuarita, Arizona, just 20 minutes south of downtown Tucson. Entrada La Villita is located southwest of the Rancho Sahuarita Clubhouse, near the intersection of La Villita Road and Sahuarita Road.

Other homebuilders currently active at Rancho Sahuarita include Insight Homes, D.R. Horton, KB Homes which will be closing out soon at Entrada Del Rio and now the return of Richmond American Homes.

For more information, Herman should be reached at 520.299.8766. To get updates about Entrada La Villita and to sign up for the neighborhood interest list, please visit www.RanchoSahuarita.com/LaVillita.

To learn more, see RED Comp #5396.

MARANA, ARIZONA – CPM LABFAB, Inc. (Kim & Kerry Bergman, principals) purchased 5-acres of HI zoned land at 7979 W Tangerine Road in Marana for construction of a new manufacturing facility. LABFAB fabricates standard and custom modular laboratories for general chemistry, vivarium or BSL use. Virtually any size requirement can be met. Often the fabrication, delivery and start-up is completed in a matter of just a few months, allowing the users to be “up and running” very quickly.

Originally located in Colorado, CPM LABFAB recognized the need for a modular laboratory that was built of quality materials, could be built quickly and was cost-effective for the customer. After many successful years in Colorado CPM relocated its operations to Tucson, Arizona in 2004 to take advantage of the excellent labor force and favorable working conditions necessary to fabricate laboratories in a timely manner.

Currently located on Casa Grande Hwy in Tucson, the company will relocate operations once building is complete. The property commanded a sale price of $475,000 ($95,000 per acre), with electricity in the road.

Tom DeSollar of Arizona First Properties in Tucson represented the seller, Edge Investors, LLC of Reno, NV. The buyer was self-represented. DeSollar represents several other properties in the area, on Breakers Road, and across the road at the Marana Technology Center where International Towers is headquartered.

For more information, DeSollar should be reached at 520.400.2732.

TUCSON, Ariz. –  Two multifamily properties, Avilla Marana I and Avilla Marana II, totaling 284-units sold for $45.44 million ($160,000 per unit). The multifamily properties are located at 4050 and 4115 West Aerie Drive in Marana, AZ.

Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of Berkadia Real Estate Advisors in Tucson completed the deal on behalf of the buyer, California-based M3 Multifamily, LLC and the seller, Alta Vista Communities of Arizona, a joint venture of Karber Holdings (Roger Karber) and Brav Holding Company (Garry Brav) an affiliate of BFL Construction.

Seller has retained 27 acres at the site on Aerie Drive for future construction of another 500- units.

The buyer is a Santa Barbara, California company, M3 Multifamily, LLC. Formed in 2008 by John Mosby and Jon Martin for the purpose of acquiring, renovating and managing existing apartment communities in the United States in order to create cash flow and profits for their investors. Since then M3 has grown steadily, and currently owns/manages communities in Austin, San Antonio, Nashville, Reno, and Tucson.

This transaction represents the fourth acquisition for M3 Multifamily in Tucson from the same seller. It also owns Aerie at Tanque Verde, an 85-unit detached luxury rental community, located at 2495 N Desert Links Drive in Northeast Tucson purchased in 2013; Avilla River luxury rental community, a 76-unit community at 1000 W River Road, Tucson sold in 2014; and Avilla Preserve Orange Grove, a 184-unit luxury rental community, located at 2501 W Orange Grove Road, Tucson was acquired in 2015.

“The buyer was attracted to the properties for multiple factors, mainly the single-story apartment home concept,” said Art Wadlund referring to the latest transaction. “The homes are ideally located in the I-10 and Ina/Thornydale corridor and have many features similar to custom homes.”

Avilla Marana I and Avilla Marana II are adjacent properties. Avilla Marana I sold for $26.56 million, and Avilla Marana II sold for $18.88 million in two separate transactions. Both properties feature one-, two- and three-bedroom floorplans with high ceilings, custom cabinetry, in-home alarm systems, stainless steel appliances and granite countertops. Residents can also enjoy a resort-style pool, a gated neighborhood and garages.

For additional information, Art and Clint Wadlund can be reached at 520.299.7200 and Karber is available at 520.977.5456.