MARANA, ARIZONA – Bela Flor Communities has assembled 455 acres for a new master planned community, called Mandarina, in Marana with the purchase of 113 additional acres for $4.25 million.
The transaction closed August 1, 2022, and is being called Madarina Phase II being held for development.
Mandarina Phase I is a proposed mixed-use development on 342 acres at the intersection of Tangerine Road and the I-10/Union Pacific Railroad (UPR) Corridor. The project is proposed to include up to 2,500 residential units (single family detached, single family attached and multi-family) and commercial units including retail, hotels and more. The Mandarina Specific Plan-2009 was actually approved in 2009.
Rob Glaser with Cushman & Wakefield | PICOR represented the seller, Venture West’s affiliate, Tangerine Investment Partners, LLC. Brent Moser and Mike Sutton with Lee & Associates of Phoenix represented the developer, Bela Flora et al. and continues to represent the developer for lot sales at Mandarina.
Moser told us there were approximately 1,500 SFR lots, out of the total 2,500, already committed to or in escrow within Mandarina Phase I.
For more information, Glaser should be reached at 520.546.2707 and Moser and Sutton should be contacted at 602.956.7777.
To learn more see RED Comp #10097.
