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.

ORO VALLEY, Arizona — Lennar Homes purchased 58.6-acres with 106-platted lots at Overton Reserve in Oro Valley from an affiliate of Tucson Land and Cattle Co., TLC Jackson, LLC of Tucson (Jim Campbell, manager) for $5.83 million ($55,000 per platted lot).

Located at Overton and La Canada Drive in Oro Valley, the seller had assembled the property in December 2016 and needed to buy, barter and trade several properties for easement and right-a-way access with Desert Springs Evangelical Presbyterian Church to achieve connecting parcels to the property.

The plan is to develop 106 lots in two parts: the Northern 39-acres with 83 lots and a 2.1 RAC, and the Southern 19.6-acres with 23 lots and 1.2 RAC all part of the same Overton Reserve.

The seller completed final plat approval for Lennar to record.  Lot sizes are 66×120, 76×120, and 81x 120. Lennar plans to build homes in the 2,200-3,200-square-foot range and Overton Reserve to have homes ready by Q2 2018.

Lennar is building homes in some of the most desirable areas of Tucson: Signatures at Tortolita Reserve in Marana, Discovery at Mountain Vail, Star Valley, Rob Hill Estates in Tucson and also in Oro Valley, Eagle Summit at Vistoso.

Ben and Adam Becker of CBRE Tucson represented the seller in this transaction.

The Becker Team can be reached at 520.323.5100, for additional information.

To learn more, see RED Comp #4763.

MARANA, Arizona — The historic Lazy K Bar Guest Ranch is now slated to become a 178-home subdivision, after the Marana Town Council approved the rezoning of a 103 acre portion the Lazy K Bar Ranch property Tuesday. The council approved the plan 4-2, with some caveats, including added protection of the open space to ensure that no further development is done on the property.

The meeting included 49 speakers, with 40 speaking in opposition to the plan. Of the nine who spoke in favor of the plan, just one identified themselves as a Marana resident, while several others were either Marana area business owners or owned property within the town. The biggest complaint about the proposal was its proximity to Saguaro National Park and Sanctuary Cove. That area is a major wildlife corridor and the fear is the housing will disrupt animal migration. Lot size was another concern. Currently all of the adjacent properties sit on big lots, with many having three acres of property.

With 60% open space, the new design would average 1.29 RAC, with smaller lots because the design calls for the homes to be clustered to preserve large uninterrupted open spaces.

Linda Morales of the Planning Center in Tucson, who represents the landowners, and Greg Wexler of Wexler and Associates, the developer, said the move to smaller lots was made to provide more open space. Morales said larger, spread out lots, would actually make things more confusing for animals traveling through the area.

The developer is committed to retaining some component of the original Lazy K Bar Lodge and patio in order to recall the history of Lazy K.

Although the rezoning and specific plan were approved, the landowner does not have a builder and there is not timeframe to begin developing the land.

TUCSON, Arizona — An affiliate of Tucson Land and Cattle Co. (Jim Campbell, manager) bought 59-acres at La Canada & Overton in Northwest submarket Tucson in Pima County for this new subdivision, Overton Reserve.

The developer plans to develop 106 lots: the Northern 39-acres with 83 lots and a 2.1 RAC, and the Southern 19.6-acres with 23 lots and 1.2 RAC all to be Overton Reserve. The property commanded a sale price of $2.5 million ($23,585 per lot) platted. Property was rezoned while in escrow.

Developer believes it can begin to break ground in Q2 2017.

The seller, GST LLC (Charles Jackson, manager) was represented by Ben Becker and Adam Becker with CBRE in Tucson.

For more information, the Becker Team should be reached at 520.323.5100.

To learn more, see RED Comp #4400.

Also in the Northwest Tucson submarket, Lennar Homes purchased 25-lots from Miramonte Homes in Boulder Bridge Pass at Dove Mountain in Marana. The 25 finished lots average 10,022-square-feet and sold for $2.7 million ($108,000 per lot).

Boulder Bridge Pass is at the northwest corner of Dove Mountain Boulevard and Boulder Bridge Pass. The remaining lots in this 88 lot subdivision on about 44.5 acres continue to be built by Miramonte.

To learn more, see RED Comp #4449.

DR Horton acquired 60 lots at Vista Montana Estates in Southeast Tucson from a New York investor, LG Realty LLC. Vista Montana Estates was originally platted for manufactured homes with a total of 139 lots in this Phase Two and are 50’x90’ average.

These final lots commanded a sale price of $1.98 million ($33,000 per lot) located off I-10 and Wilmot Road in Tucson.

DR Horton joins other builders Lennar and TJ Bednar at Vista Montana with these remaining 60 lots.

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

For more information, Feig and Mendenhall should be contacted at 520.747.4000.

To learn more, see RED Comp #4405.