MARANA, ARIZONA – Vintage Partners, the developer of Marana Center and Tucson Premium Outlets at I-10 and Twin Peaks Road in Marana recently sold two land sites. One, a 2.2 acre site sold for $1.3 million ($13.53 PSF) to North Tucson Hotel, LLC, an affiliate of HCW in Phoenix for construction of a 96-room SpringHill Suites Hotel by Marriott for an estimated delivery in Summer 2023.
See Real Estate Daily News August 3, 2022 for details on the SpringHill Hotel sale.
The second sale, a 37.43-acre site of the same parcel was purchased by TMC Holdings, Inc. to hold for a hospital site and sold for $16.041 million ($9.84 PSF).
Northwest Hospital, LLC, owned by Community Health Systems of Franklin, Tennessee recently sold 57.8-ares of land at Gladden Farms that had been purchased in 2007 with the intent for a future hospital. Northwest Hospital sold this site to HSL Properties for construction of Encantada Gladden Farms, a luxury apartment and townhome community.
To learn more, see Real Estate Daily News August 18, 2022 for this sale to HSL Properties.
The new TMC hospital site is located across from the Tucson Premium Outlet mall, near the I-10 and West Twin Peaks Rd intersection and will be a long-term future project.
Buzz Isaacson with Buzz Isaacson Realty represented the seller, Vintage Partners.
Rick Kleiner with Cushman & Wakefield | PICOR represented the buyer, TMC Holdings.
For additional information, Kleiner can be reached at 520.546.2745 and Isaacson should be contacted at 520.529.1300.
To learn more, see RED Comp #10055.