MARANA, ARIZONA -- DR Horton, Inc. purchased Phase 1 of The Village at Barnett, a new subdivision at the northeast corner of Barnett and Sanders Roads in Marana. The phase consisted of 105 platted and engineered lots and were purchased for $2,415,000 ($23,000/platted lot). The seller in the transaction was RB Land Barnett Partners, LLC (Randy Bury, Manager) who will now turn its focus to the sale of Phase 2 which consists of 146 fully approved lots. The purchase signals a new push of development activity on the west side of Interstate 10 in this area.
Bury commented, “The availability of developable land unencumbered by major infrastructure and environmental constraints, the pro-growth attitude of the Town, and easy access to I-10 make North Marana extremely attractive to homebuyers. The nexus of North Marana to the emerging job corridors of South Pinal County ie Nikola, will become more and more important over time.”
The transaction was handled by Will White and John Carroll of Land Advisors Organization in Tucson. Land Advisors has the marketing assignment on Phase 2 of The Village at Barnett.
“Homebuilder demand on the west side of Interstate 10 in Marana continues to ramp up in 2020," said White. This part of north Marana has infrastructure and plats that are fully approved, allowing homebuilders to immediately proceed to developing lots. The focus right now is on lots that can be built and ready for home construction in 2021 to accommodate the surge in housing demand in the area”
“The closing of these lots, and subsequent development, is a sign of things to come as it is the first-time lot development is pushing north of Barnett road. This will open up several new opportunities and synergies for other deals to get done in this portion of north Marana as the market moves forward.”
For additional information, White and Carroll should be reached at 520.514.7454.
To learn more, see RED Comp #8090.