The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from Oct. 30 thru Nov. 3, 2017.

INDUSTRIAL – 2850 E. VALENCIA RD., TUCSON
Port Plastics, Inc. leased 12,066-square-feet at 2850 E. Valencia Rd. in Tucson, from 3000 East Valencia, LLC.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, and Crystal Jutte with Mohr Partners, Seattle, WA., represented the tenant in this transaction.  Robert DeLaney with CBRE represented the landlord. [mepr-show rules=”58038″]Tenant Phone: 520.624.3770[/mepr-show]

OFFICE – 333 E. WETMORE RD., TUCSON
Kimley Horn and Associates, Inc renewed their leased with Tucson West, LLC and expanded to 7,955-square-feet; Andrew Sternberg and Phil Skillings, with NAI Horizon represented the landlord and Jenny Aust Turner with Savills Studley represented the tenant in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.615.9191[/mepr-show]

OFFICE –  250 S. CRAYCROFT, TUCSON
The Providence Service Corporation leased 3,808-square-feet from WCCP 250 Craycroft, LLC; Andrew Sternberg and Phil Skillings with NAI Horizon represented the landlord and David Montijo with CBRE Tucson represented the tenant in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.747.6600[/mepr-show]

OFFICE – 6130 N.LA CHOLLA BLVD., TUCSON
Dr. Gerald Morris and Dr. Amanda Bacchus-Morris leased 3,245-square-feet at 6130 N. La Cholla Blvd., Suite 117 in Tucson, from HCP/Utah II, LLC.  Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the tenant in this transaction. [mepr-show rules=”58038″]Asking lease rate: $21.00 SF/YR Modified Gross; Tenant Phone: 520.547.9700[/mepr-show]

INDUSTRIAL – 6894 N. CAMINO MARTIN, TUCSON
AZ Parking Lot Maintenance, LLC leased 1,500-square-feet in Old West Business Park located at 6894 N. Camino Martin, Suite 120 in Tucson, from Camino Martin Partners II, LLC.  Cushman & Wakefield | PICOR Industrial Specialists handled this transaction.  Max Fisher represented the tenant, and Brandon Rodgers, CCIM, Principal, represented the landlord. [mepr-show rules=”58038″]Tenant Phone: 520.780.9639[/mepr-show]

RETAIL –  9105 E. TANQUE VERDE RD., TUCSON
Fuzeng Wang dba Reflexology leased 1,460-square-feet from WRI Madera Village, LLC; Dave Dutson with NAI Horizon represented the tenant in this transaction.

RETAIL – 490 N. HUGHWAY BYPASS 90, SIERRA VISTA, AZ
Arizona Ice Cream Company, Inc. (Coldstone Creamery) leased 1,363-square-feet at Charleston Crossing from Triple C Associates, LP; Scott Soelter with NAI Horizon represented the tenant and Paul Holland with Colliers International represented the landlord.

RETAIL – 2410 W. RUTHRAUFF RD., TUCSON
GEOST, Inc. leased 1,200-square-feet in Ruthrauff Commerce Center located at 2410 W. Ruthrauff Rd., Suite 160 in Tucson, from Presson Scottsdale, LLC.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord.  Alan Moore with Chapman Lindsey represented the tenant.[mepr-show rules=”58038″] Tenant Phone: 520.308.5551[/mepr-show]

OFFICE – 800 N. SWAN RD., TUCSON
Jean DuBose and Elizabeth de Vries, leased 601-square-feet from 800 N Swan, Inc.; Andrew Sternberg with NAI Horizon represented the landlord and tenant in this transaction.

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TUCSON, Arizona — O.T. Builders, LLC and Mesquite Homes (Jim Campbell, CEO) of Tucson closed on the first of 29 finished lots of a new rolling option at Vail Vista Estates in the southeast submarket for $36,000. Price is a base price plus back end participation in home sales. Lot sizes are a minimum of 36,000-square-feet in Vail Vista Estates.

Thrac Paulette of Cantera Real Estate in Tucson represented the seller, Elite Performance, LLC of Tucson.

For more information, Paulette should be reached at 520.904.5055.

To learn more, see RED Comp #4849.

D.R. Horton paid $200,000 ($50,000 per lot) for four finished lots in Tierra Linda Nueva in the northwest submarket, southwest of Emigh Road and Sanders Road in Marana. This is an option takedown for 48-lots from Tierra Linda Nueva, an affiliate of Estes Land and Development of Tucson (Kip Volpe, President) in a 190 SFR lot subdivision of 36,000-square-foot minimum lot size.  This transaction represents 16 lots taken down of the 48- lot option.

Dan Feig and Aaron Mendenhall of Chapman Lindsey Commercial Real Estate Services in Tucson represented D.R. Horton in the transaction and can be contacted for more information at 520.747.4000.

To learn more, see RED Comp #4841.

D.R. Horton bought 6 more finished lots for $229,500 ($38,250 per lot) with options at Fianchetto Farms in northern Marana near Gladden Farms’ Community, D.R. Horton from Fianchetto Farms, LLC. This was the fifth takedown or 37-lots of a 49-lot option within this 114-SFR lot subdivision and the third takedown this year. Lots are mostly 55′ x 110′.

D.R. Horton began construction at Fianchetto Farms in August 2016.

Dan Feig and Aaron Mendenhall with Chapman Lindsey Commercial Real Estate Services in Tucson represented D.R. Horton and the seller in this transaction.

Feig and Mendenhall can be reached at 520.747.4000 for more information.

To learn more, see RED Comp #4842.

ACM Ventures, LLC of Tucson (Alan Murdock, manager) paid $435,000 ($.35 PSF) for 28.72 acres of raw land in the eastern submarket, at Tanque Verde Loop and Broadway Blvd in Tucson.  The SR zoned acreage was purchased to hold for development.

Murdock, an associate broker at Realty Executives Tucson Elite, was self-represented in the transaction. The sellers, Christine Glass and William Frick of Chandler, were represented by Ric Sack of Long Realty.

For additional information, Murdock can be called at 520.906.9202 and Sack is at 520.918.5477.

To learn more, see RED Comp #4807.

TUCSON, Arizona – Richmond American Homes – Tucson Division has backhoes and bobcats ready. The number of finished lots available in submarkets that buyers desire is dwindling fast, and developing raw land—which became a lost art for many builders during the recession—is now a real necessity for growth-minded companies like Richmond.

Richmond American ran circles around other home builders this quarter in metro Tucson. Out of 490 total lots sold in the quarter to home builders, Richmond bought over 50% or 249 lots, with D.R. Horton second having acquired 145-lots and Lennar third with 68-lots.

Tucson home sales along with prices continue to rise as they have over the past four years amid ever-tightening supply and a shortage of buildable lots. Fears that higher home mortgage rates this year would keep buyers away appear to have been overblown. But now, a new test to home builders will be the almost non-existent finished lots.

Not to be left short, Richmond has continued growth on all fronts, buying platted lots, developing them and selling homes as quickly as they can be built in most communities.

Richmond will have three brand-new communities to their credit later this year. La Estancia’s 99-lots in the Vail area, Santa Rita III with 68-lots also in the Vail area,  and a third new community that closed on March 31^st at Vahalla Estates.

Vahalla Estates is a new subdivision consisting of 65 lots, located at the southeast corner of Valencia Road and Vahalla Road in the western submarket of Tucson.  Lot sizes are mostly 50’x 120’ at Vahalla Estates.

Ben and Adam Becker of CBRE Tucson represented the home builder and the seller, Heater Investments, Inc. (Joe Heater, manager) in the transaction. The purchase price was $617,500 ($9,500 per platted lot).

Another 17-lots recently purchased by Richmond were at Eagle Crest Ranch, located in Pinal County, just over the border. Richmond is closing out this master community with its final 38-lots.  The purchase price for the 17-lots was $824,500 ($48,500 per finished lot) with an option for the remaining 21-lots later.

Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson handled the transaction.

In January, Richmond American debuted Santa Cruz Meadows in Sahuarita, a beautiful collection of ranch-style homes with personalized options. And Linda Vista Heights in northwest Tucson that celebrated its grand opening in March.

Linda Vista Heights, Eagle Crest and Santa Cruz Meadows each with four or more floor plans offer 3-5 bedroom homes from the $200s.

A growing shortage of buildable lots for new homes will push up home prices in many U.S. markets. That’s the word from the National Association of Home Builders (NAHB), which says the availability of new-home lots is at a historic low, just as U.S. home builders are feeling more optimistic about their sales prospects than they have been since the high-flying days of the housing boom.

To learn more, see RED Comp #4702.