Just as the Gladden Farms Elementary School opened for classes this week, Lennar Homes purchased 60 SFR lots at Homestead at Gladden Farms for $2.64 Million ($44,000 per lot) from Crown West Realty (Dean Wingert, member). Richmond American Homes and Lennar will both be building at this subdivision, called Homestead.

Gladden Farms is a 1,350-acre master planned community in northern Marana, just west of Interstate 10 between Tangerine and Moor Roads. There are currently 1,300 SFR homes built in Gladden Farms and 277 lots currently under development. With four homebuilders active in the community, makes it is one of the most active communities in the Northwest submarket.

KB Homes at Somerset at Gladden Farms is down to its last five lots of 148 homesites. Meritage Homes at Compass Pointe at Gladden Farms has 89 homesites; while Richmond American with 58 homesites and Lennar with its newly acquired 60 homesites at Homestead at Gladden Farms under development, round out the home builders in Gladden Farms.

Plans call for a total of approximately 3,600 homes with a price range of $180,000 to $400,000. With approximately 320 acres set aside for parks, open areas, trails and the Gladden Farms Elementary School. Located in the Marana Unified School District, the school is open for grades K-6 and is the first computer science immersion school in Arizona.

Currently, Gladden Farms offers over 105 acres of parks and open space and 8-miles of landscaped trails which connect to the major regional Santa Cruz River Linear Park system. Future phases will further expand the park areas and trail systems along with additional recreational, picnic, and sports facilities throughout the community.

The 16-acre Gladden Farms Community Park includes Little League fields, soccer fields, restroom facilities, shaded picnic areas, separate play structures for elementary age and older children and the largest splash pad in Southern Arizona with restrooms, shaded seating and drinking fountains. A pedestrian underpass under Tangerine Farms Road takes pedestrians and bicyclists safely to the park, bypassing the major intersection.

The Marana Heritage River Park hosts 40 community garden plots for residents, a ramada pavilion and grill, and a wedding and event venue. Over 45 acres of additional land have been deeded to the Town of Marana for their planned Heritage River park improvements, which will create Maranas’s largest regional recreation and event facility. Marana’a Annual Cotton Festival is held at the Heritage River Park every October.

Designated commercial development areas will include a grocery store, retail stores, a medical campus, office buildings and other services.

Will White and John Carroll of Land Advisors in Tucson handled the Lennar transaction for the seller.

For more information, White and Carroll should be reached at 520.514.7454.

To learn more see RED Comp #4068.

Trends in land sales for the metro Tucson region over the past few years shows a limited supply of finished lots and the need for new lots from both Tucson Homebuilders and developers. Finished lot inventory continued to decline through the end of the year with an all-time low of only 3,025 finished lots in the market on December 31, 2015.

This trend does not appear to be changing as we enter into 2016 and is expected to be below 3,000 finished lots next year. This depletion of lots has builders scrambling to find replacement inventory as existing communities build out and the buying platted lots has become the norm for 2016.

D.R. Horton purchased 79 platted lots at Vista Del Lago Norte in Vail for $1,145,500 ($14,500 per lot). The Property consists of 79-platted lots in a 198 lot subdivision that were platted by the seller, Vail UPRR North LLC (Duff Heron, manager). Lot sizes are 45′ x 115′.

Ben Becker with CBRE in Tucson represented the seller in this transaction and Dan Feig and Aaron Mendenhall with Chapman Lindsey Commercial Real Estate Services represented the buyer.

For more information, Becker can be reached at 520.323.5100. Feig and Mendenhall should be contacted at 520.747.4000.

To learn more, see RED COMP #3626.

Lennar Homes bought 57 platted lots at Mountain Vail Estates for $1,474,875 ($25,875 per lot) from Diamond Ventures of Tucson (Chad Kolodisner, vice-president). Lots are 45’ x 115’. Lennar was already in this southeast subdivision along with builders, KB Home and Richmond American.

Mark Weinberg with DVI Realty represented the seller, Diamond Ventures in the transaction and Lennar was self-represented.

For more information, Weinberg can be reached at 520.577.0200.

To learn more, see RED Comp #3652.

Shannon 77 LLC of Tucson (David Williamson of Fairfield Homes, manager) acquired 77 acres at the southeast corner of Shannon and Naranja in Oro Valley for $2.2 million. The seller was Shannon Road Partners LLC of Tucson (Neal Manning, manager). The buyer, a local developer, plans to hold the property for rezoning from R1-144 for development.

Thrac Paulette with Cantera Real Estate in Tucson represented the seller in the transaction. The buyer was self-represented.

For more information, Paulette should be reached at 520.904.5055.

To learn more, see RED Comp #3660.

The Tucson office of the Land Advisors® Organization (LAO), announced the successful closing of ±70 acres with a preliminary plat for 242 lots. Located on the north east corner of Sanders Road and Barnett Road in Marana, Arizona. Will White of Land Advisors Organization in Tucson negotiated the transaction for the buyer.

The acreage was sold by the Barnett Family Trust and purchased for $2.25 million ($9,298 per lot) by Randall Martin – Randy Bury, Founder and President. This acquisition is Bury’s 4th major acquisition in the north Marana area since 2011.

“We’ve had a long relationship working with Land Advisors and Will White,” stated Randy Bury. “I appreciate their experience and diligence in getting our deals closed.”

In another transaction, Maracay Homes took down five more lots of an option agreement in Tortolita Vista for $987,088 ($197,418 per lot). Located north of Tangerine Road on Thornydale, the one acre sites feature lush desert open space. Maracay is building a total of 54 homes in Tortolita Vista that began October 2013. Will White of Land Advisors Organization in Tucson represented Maracay in the rolling option.

For additional information regarding this transaction contact White at 520.514.7454.

To learn more, see RED Comp #3592 and #3563.

KB Home is planning a new infill project at Prudence and Escalante in the eastside of Tucson; Kinneson Overlook is named after the arroyo in the area. Property was re-platted from 51 to 46 SFR lots, 45’x 100′ by the seller, OT Huachuca, an affiliate of Oasis Tucson (Jim Campbell, president). The subdivision had a prelimary plat when it sold.

The 6.84 acre Kinneson Overlook sold for $828,000 ($18,000 per lot). Both buyer and seller were self-represented in the transaction.

To learn more, see RED Comp #3614.

Mattamy Homes bought 15 SFR lots at The Enclave at Stone Canyon V for $2.78 million ($185,000 per lot) from Enclave Construction & Sales (David Williamson, manager). Located in Stone Canyon at Rancho Vistoso, north of Tortolita Mountain Circle and east of Hohokam Village Place in Oro Valley, the property is also known as the Stone Canyon Donut Hole due to its vicinity to Stone Canyon Golf Course. Surrounded by the Stone Canyon Golf Course, the subdivision sits on approximately 28 acres of vacant land and features single-story homes on lot sizes ranging from 10,000- to 15,000-square-feet with 80 foot frontages.

Thrac Paulette with Cantera Real Estate in Tucson represented Mattamy and can be reached at 520.904.5055 for more information.

To learn more, see RED Comp #3433.

Meritage Homes is active in Stone Canyon, and recently purchased a 48-acre parcel of land there for $1.8 million ($50,000 per lot) with plans to re-plat the property from 38 lots to 36-home sites in this northwest community.

The seller was Diamond Venture (Bill Kelley, CFO). Both buyer and seller were self-represented in the transaction. Meritage Homes plans to develop 36-lots for customized home sales.

To learn more, see RED Comp #3488.

Lennar Homes purchased 53 platted lots and common areas in the Robb Hill subdivision for $1.65 million ($31,132 per lot), another infill project within the City of Tucson limits. Lots are 50′ x 115′ on approximately 12.5 acres, located to the east of Pantano on Speedway. Bob Solfisburg was with Tucson Realty & Trust when this transaction was completed and is now with JBS Real Estate. Solfisburg can be reached at 520.977.9006 for more information.

To learn more, see RED Comp #3524.

Richmond American purchased a 30.6 acre parcel located at the southeast corner of Sandy Desert Trail and Cortaro Farms Road in Marana for $1.38 million ($20,000 per lot). Minutes from Interstate 10, Willow Vista offers breathtaking views of Arizona sunsets over the Tucson Mountains and lies within the Town of Marana and the Marana Unified School District.

The seller, Heater Investments of Tucson (Joe Heater) had rezoned the property, which had previously been platted for 35 – 16,000-square-foot lots under R-16 zoning. The new plat provides 69 – 7,200-square-foot lots under R-6 zoning, yet still preserving more than 40% of the site as Natural Undisturbed Open Space (NUOS), with greater attention to maintaining the wildlife corridors throughout the property. Besides rezoning, the seller provided the topography and boundary survey and Final Plat.

To learn more, see RED Comp #3528.

In another option agreement, DR Horton purchased 9-SFR lots at Sunset Pointe at Midvale Park for $305,280 ($33,920 per lot). Horton is buying a total of 55-lots in this subdivision platted in 2007, with 3,600-square-foot minimum lot sizes. The seller is D.B.S. Midvale, LLC (Bill Estes, Jr.) of Tucson. Dan Feig and Aaron Mendenhall of Chapman Lindsey represented D.R. Horton.

Feig and Mendenhall should be reached at 520.747.4000.

To learn more see RED Comp #3494.