GILBERT, Ariz. – Maracay, a wholly owned company of the TRI Pointe Group (NYSE: TPH), celebrated the start of construction on its newest community in Gilbert, The Lakes at Annecy, a partially developed master plan community that fell dormant during the recession.

Gilbert Mayor Jenn Daniels, Vice Mayor Brigette Peterson and other special guests joined Maracay President Andy Warren and company leaders at a ground breaking ceremony to commemorate the occasion. The event, coincidentally, followed the release of a new study revealing Gilbert as No. 1 among the nation’s 100 largest cities and towns for its ability to recover from the 2007-09 downturn.

“This is a big day, not only for Maracay, but for the entire town of Gilbert,” said Warren. “This ground breaking signifies so much more than the resurgence of a formerly distressed community. It represents the hard work and resilience of everyone in the community who has helped make Gilbert the nation’s town with the fewest signs of economic distress coming out of the recession.”

Mayor Daniels cited The Lakes at Annecy as an example of where the hundreds of new residents moving to Gilbert each month can find high-quality housing and convenience in one location. “You really can’t beat the access you have right here,” she said.

Located a mile north of the Loop 202, on the northeast corner of Val Vista and Parkview drives, the lush master-planned community was first developed in the mid-2000s with resort-style amenities, including tranquil lakes, three pool complexes, playgrounds, basketball courts and tree-lined streets. Maracay plans to open the first phase of 216 single-family homes and townhomes, ranging in size from approximately 1,020 to 2,269 square feet, in early 2019.

“The longstanding real estate adage ‘location, location, location’ absolutely rings true at The Lakes at Annecy, where the benefits of this unique setting are three-fold: nearby transportation corridors offer a quick and easy commute to jobs; dozens of restaurants and entertainment options are literally within walking distance, and the parks, lakes and mature landscaping here provide a place to relax after your short drive home from work,” said Warren.

Gilbert Vice Mayor Peterson noted how residents of the Lakes at Annecy will be able to access anything they want or need from the neighborhood’s convenient location near the SanTan Village retail district and praised Maracay for building new homes in Gilbert that are among the most energy efficient in the Valley.

All homes will be Energy Star® certified and registered with the certification goal of achieving the LEED Certified® designation from the U.S. Green Building Council. Each home also will feature the latest Smart Home technology and Maracay’s LivingSmart® program for maximum performance and cost efficiency.

For more information on Maracay and the Lakes at Annecy, please contact Maracay New Homes Specialist Pam Meyer and Beth Stern at [email protected] or visit www.MaracayHomes.com.

Phoenix, Arizona —  Velocity Retail Group’s Darren Pitts represented At Home in the purchase of 8.54 acres in the San Tan Pavilions shopping center located at the southwest corner of Williams Field Road and San Tan Village Parkway in Gilbert, Arizona.  The seller of the property was San Tan AZ, LLC an entity controlled by Intercapital Development, Inc. based in Las Vegas, Nevada.  The purchase price of the property was $4,112,761 ($11 PSF).  The 108,000+/- square foot At Home store is projected to open in the 1st quarter of 2018.

The store is part of an approximate 33 acre development that is planned to have an additional 170,000 square feet of retail space including big box anchors, shops, pads and restaurants.  The project is located in the San Tan Regional Mall trade area a major retail hub for the growing southeast Valley.

This will be the sixth Arizona location for At Home, which is based in Plano, Texas.  “At Home has expanded their store presence in Arizona over the past several years.  This latest location in the southeast Valley is part of our strategic plan in the Phoenix metro area.  At Home has plans to add additional stores in major markets in Arizona and we continue to look for new opportunities for them,” said Pitts.

Velocity Retail has worked with At Home on their store locations in the Phoenix area since 2007.  Today At Home operates 127 locations in 31 states.

Phoenix, AZ – CBRE has completed the sale of Cambria, a 174-unit apartment community located at 130 W. Guadalupe Road in Gilbert, Ariz. The property commanded a sale price of $24.35 million ($140,000 per unit). Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction.

“Cambria is a well-located asset in highly desirable Downtown Gilbert,” said CBRE’s Cunningham. “The buyer was able to purchase the asset below replacement cost and as the Southeast Valley continues to grow, they should see considerable return on investment.”

Cambria was completed in 2000 and is located at the highly trafficked intersection of Gilbert Road and Guadalupe Road. The property is less than one-half mile from the Heritage District, a burgeoning cultural and culinary hub in the Southeast Valley. Cambria is also proximate to all four of Gilbert’s designated employment corridors. Additionally, Chandler’s Price Road Corridor, the largest cluster for high-tech employment in Arizona, is less than seven miles southwest of the community.

Cambria offers residents community amenities including controlled gate access, two swimming pools, recently upgraded clubhouse, 24-hour fitness center, business center and conference rooms, and picnic areas. Individual residences feature nine-foot ceilings, full-sized washer/ dryers, direct-access garages, walk-in closets, and private patios and balconies.