Casa Grande 85-Site RV Park Sells for $1.66 Million

Sierra Vista RV Park, Casa Grande, AZ

Park Brokerage is proud to announce the sales of the Sierra Vista RV Park located in Casa Grande, Arizona was completed on March 29, 2019 for the price of $1.66 million ($19,529 per space).  John Sheedy represented the sellers in each transaction while procuring the Florida-based experienced buyer.

Sierra Vista is an 85 site all-ages RV park with a near 100% occupancy located three miles west of Casa Grande, Arizona.  The park is on a large fifteen-acre parcel with local approval to expand to 160 sites.   The park is on a private well and septic system, has gravel roads, and has a limited amenity package which consists of a store, laundry room, and storage area.  The property was in poor condition when the seller purchased it in 2017 however sold in quality shape.  The seller improved the entry area, built the storage component, and reduced the vacancy occupancy up to market levels to achieve stabilization.  Rents were slightly before market at time of sale and vacancy was under five percent.

John Sheedy commented “this is a win-win deal for both parties whom I was happy to represent on this transaction.  The seller did an excellent job stabilizing the property from its former condition and the buyer stands to take over a park with rent upside and expansion opportunities due to local job growth especially with Lucid Motors plant opening nearby.”

Please feel free to contact John for more information about this sale at 602-821-4666 or at jsheedy@parkbrokerage.com




Attesa Projected to Employ More than 6,000 Casa Grande, Maricopa Residents

CHANDLER, ARIZONA — Approximately 61% of the future Attesa employees will reside in Pinal County, according to updated projections from an Economic Impact Study prepared by Elliott D. Pollack & Company. Casa Grande is projected to benefit most from incremental local economic activity associated with nearly 5,000 Attesa employees. Maricopa, the county’s second largest city, is projected as the home of nearly 1,600 Attesa employees upon buildout.

Attesa, a $1.1 billion project, will initially recruit over 8,000 workers in the construction and building industry as it produces two racing circuits, a 300-room hotel and 20,000 sq. ft. conference center, driving club, multi-use venue, waste water treatment plant and solar canopied plaza.  Post grand opening, workers will be needed for ongoing home and commercial building, new on-site high tech and motorsports/transportation design companies, retail and hospitality partners, air park businesses, maintenance, security and more.

Tim Kanavel, Director of Economic Development for Pinal County, said, “It will start with construction and then go from there.  Jobs are going to be created, ongoing, and most of those people will live in Casa Grande, Maricopa, Eloy and Coolidge.  The influx of new visitors and residents will create more jobs at restaurants, retailers and other consumer companies. Attesa is going to bring a lot of jobs and new residents.  We’re glad Attesa chose Pinal County as their home.”

“We’re essentially going to build a mini-city,” said Dan Erickson, Member/Manager of Danrick Builders, the company developing Attesa.  “We’re going to welcome tech companies who need to research, develop and test, and people who have a passion for performance cars and driving them at speed, and guests who want to be entertained with uncompromised customer service.  To provide the best experience possible, in all those areas, we’re going to need people.  And most of them will be local, within the County.”

In addition to those jobs projected for residents of Casa Grande and Maricopa, the report indicates that Attesa will provide employment opportunities for residents of Coolidge (313 estimated jobs), San Tan Valley (over 200 jobs), Arizona City (200 jobs), Florence (160 jobs) and Apache Junction (almost 100 jobs).

Attesa anticipates over 15,000 direct and indirect jobs upon buildout. From groundbreaking, scheduled for first quarter 2018, through Attesa’s subsequent industrial, retail and tourist attraction partner growth, the world’s first motorsports, technology and entertainment community is going to need a wide variety of workers.

“Our partners who test and build and do business at Attesa are going to need workers, that’s for sure,” said Pat Johnson, President of Danrick Builders.  “But so will Phoenix Mart, Lucid Motors, DreamPort Village and every other new development planned for Pinal County. And as we develop our 2,500-acre community, and as the other new companies start up and grow, Casa Grande, Maricopa and the rest of the cities in Pinal County had better be ready.”

Attesa is working with state universities, community colleges and vocational schools toward making sure the employees of tomorrow can receive the training and education they’re going to need today.

“We’re already collaborating with Arizona at Work and Central Arizona College,” added Kanavel.  “We understand what the future holds and we’re darn well going to be prepared.”

Attesa is presently undergoing the entitlement process in Pinal County.

For more information on the development, contact Nick Wood at 602-382-6269.

 




HSL Desert Sands Refinances $21.5 M for Casa Grande Apartments

Desert Sands Apartments, Casa Grande, AZ

CASA GRANDE, Arizona – HSL Desert Sands Properties has received $21.5 million in financing for a 323-unit apartment complex in Casa Grande. The community is located at 720 West O’Neil Drive.

The property was built in 2008. Casa Grande is about 45 miles south of the Phoenix central business district and 70 miles northwest of Tucson. The funds will be used to refinance the property.

The 10-year Fannie Mae loan features a 30-year amortization schedule. HSL Desert Sands Properties is an entity affiliated with HSL Properties and Humberto S Lopez of Tucson, who owns multifamily and other commercial real estate throughout the Southwest. The loan was provided by Hunt Mortgage Group.