TUCSON, ARIZONA — Vast Commercial Real Estate Solutions (Vast), a full-service commercial real estate and investment brokerage firm, brokered the sale of an office condo at 7540 N La Cholla Boulevard, Tucson, AZ 85741. The condominium sold for $338,375 ($192 PSF).

Located north of Ina Road in the La Cholla Corporate Center, a 230,000-square-foot professional office complex. The asset closed on October 28, 2020.

Jon O’Shea of Vast represented the seller, Vector Properties, LLC. The buyer, John Thomason Price Revocable Trust was represented by Mark Hays with Tierra Antigua. The seller was an owner user dba Vector Impressions and the buyer will be the same as an administrative office for billing.

For more information, O’Shea can be contacted at 520.780.4743 and Hays can be reached at 520.444.5401

To learn more, see RED Comp #8198.

MARANA, ARIZONA — An affiliate of MC Companies (Ross McCallister, principal), Silverbell Gateway Apartments, purchased 14.4 acres at 7300 N Silverbell Road, in Marana for $2.55 million ($4.07 PSF) from Prestwick Properties of Tucson (Douglas Kennedy, manager).

The development team of MC Companies is excited about this new opportunity to build luxury apartments and grow their existing portfolio.  The town of Marana is fast growing, and this offering will add to the much-needed mix of luxury apartment homes for residents that rent by choice for the convenience and modern amenities that this demographic has come to expect.

This area has undergone much development in the past few years with new parks and connectivity to the Tortolita Mountain trail system.  The Town has also made significant investments in the functionality of the Ina commercial area. The Ina Road Beautification project makes this location even more appealing to residents in the area. The project includes new asphalt pavement, fresh landscaping in the right of way, new street lights, sidewalks, accessibility ramps and fiber optic cables.

MC Companies plans 300 luxury apartment homes with large floorplans at an average square footage of 1,070-square-feet and six unique floorplans.  Each home will be designed with upscale finishes and include hard surface flooring, granite counter tops and designer lighting packages.  The proposed amenities will be best in class for new apartments, similar in luxury as the Award winning The Place at Riverwalk Apartments at Craycroft and River in Tucson. After two years of great success and winning it was awarded the Best Community Design Award at the 2020 AMA Tribute Awards recently.

The Management team of MC Companies will professionally manage this newest community adding to their current portfolio of 6,000 apartment homes.

The transaction was Principal to Principal and construction is estimated to start in Jan with 19 months to first delivery.

To learn more, see RED Comp #8155.

TUCSON (VAIL) ARIZONA – Richmond American joins Pulte, KB Home and Lennar at the Rocking K master planned community. Lennar recently purchased an additional 113 platted lots for their Wildflower Estates neighborhood at Rocking K for $5,328,926 ($47,159 per lot) and Richmond American bought 140-lots platted lots for $5,967,500 ($42,625 per lot).  The lots are 65’ x 130’ and 55’ x 125’ respectively. The Seller in both transactions was Rocking K Development Co. (Diamond Ventures, Inc, David Goldstein, President)

“We are excited to be on schedule for our early 2021 opening,” said Priscilla Storm, Vice-President of Diamond Ventures, developer of Rocking K. “Builders have already submitted 32 different house plans to provide buyers with choices for every lifestyle and budget. And all of the builders are starting construction of their Rocking K models in the next 30-60 days. The construction of the Valencia Road connection is going to be a real game changer for easy access from Rocking K to all the eastside’s major employers and services. The park construction is also underway and it is exciting to see the ballfields and splash pad come out of the ground.”

Pulte, Lennar and KB Home closed on the first 558 lots approximately a year ago, a mixture of 40’ thru 60’ by 125’ and 130’ lots for an aggregate of $37.4 million. These latest transactions bring the total to 811 lots in the initial phase.

The development goal of the community is to connect neighborhoods to nature. The Rocking K Community is “Designed by Nature” to integrate neighborhoods with large natural open spaces and native landscapes with extensively landscaped streets and a network of connecting trails.

Will White and John Carroll of Land Advisors Organization – Tucson handled these transactions and continue to represent Diamond Ventures at the Rocking K community.

“Rocking K is a one-of-a-kind property and demand to be part of this master-planned community continues to grow” said White. “The Tucson metro land and housing market is extremely strong and being driven by huge demand in housing and a historic land and lot shortage.”

For more information, White and Carroll should be reached 520.514.7454.