MARANA, ARIZONA — Meritage Homes purchased portions of blocks 40 and 41 at Gladden Farms Master Planned Community in Marana for $1.4 million ($60,000 per acre) from Crown West Realty (Dean Wingert, member) the developer.
The 23 acres sold with preliminary plat for 119 – 45’ x 120’ SFR lots.
Gladden Farms is a 1,350-acre master planned community in northern Marana, just west of Interstate 10 between Tangerine and Moore Roads. With four homebuilders active in the community, it is one of the most active communities in the Northwest submarket.
Meritage bought its first block of 89 platted lots at Gladden Farms in December 2015.
Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and have the marketing assignment on all of Gladden Farms.
“Gladden Farms continues to far exceed expectations. The pricing power that the community has experienced in the past 24 months is very impressive,” said White. “Meritage has done a very nice job of looking ahead and securing strong positions in Gladden Farms. It appears to be a good recipe for success.”
“We have several discussions ongoing with existing, and new, homebuilders on future blocks at Gladden Farms II. It looks like it will continue to stay very busy there for awhile,” White added. “There is no question that the north Marana market has heated up. We expect the market-share of this area to grow substantially over the coming years. Gladden Farms continues to be a great example of how to do that”
For more information, White and Carroll should be reached at 520.514.7454.
To learn more, see RED Comp #6130.