Cornerstone Buys 114 Acres Non-Contiguous Mixed Use Land in REO Sale

C Stone Holdings, LLC an affiliate of Cornerstone Homes (John Agresti, president) purchased approximately 114 acres in an REO sale for $928,000 (approximately $8,140 per acre) from Stearns Bank. The property is a mixture of residential and commercial noncontiguous land.

The residential portion includes 8.9 acres of raw land at 6^th and Medina and a 79-acre platted development for 74-SFR lots at Andrada Ranch in Corona De Tucson, with an overall density of 0.93 residences per acre.

The commercial land includes 19-acres at Ajo and Kino and 7.5acres located at Valencia and Alvernon Way in Tucson.

Established in 2004, Cornerstone Homes is locally owned and operated and a family based builder that has a wide-range of experience in multiple areas of the building industry since 1983; production and semi-custom, custom, luxurious custom and commercial development.

Dan Feig and Aaron Mendenhall with Chapman Lindsey Commercial Real Estate Services handled the transaction for the seller.

For additional information, Feig can be reached at 520.747.4000 ext. 103 and Mendenhall is at ext. 102.

To learn more, see RED Comp #3866.