MARANA, ARIZ. (July 10, 2025) – Lennar Homes has closed on a strategic acquisition of 58 platted and engineered lots within the Twin Peaks Vista subdivision for the total sum of $1,740,000 ($30,000 per lot). Twin Peaks Vista subdivision is located at the intersection of Twin Peaks Road and Decker Road, just north of Linda Vista Boulevard and east of Interstate 10 in Marana.

According to town plat maps, these 58 residential lots are laid out under the Twin Peaks Vista Specific Plan, each conforming to a minimum lot size of 6,000 square feet, and average lot size 7,855 square feet.

Twin Peaks Vista sits within one of Marana’s most sought-after growth areas, offering convenient access to both Interstate 10 and the emerging Preserve at Twin Peaks community—already under development since 2019 by Lennar https://realestatedaily-news.com/lennar-closes-on-195-lot-prelim-plat-for-6-7-million-in-marana/. The location benefits from planned infrastructure, proximity to existing Lennar neighborhoods, and strong regional demand for new single-family homes.

This acquisition aligns with Lennar’s strategy of securing well-positioned land parcels with engineered lots, enabling faster rollout of model homes, reduced permitting time, and cost control. Industry tracking confirms Lennar’s active expansion in the Twin Peaks corridor, including the nearby 195-lot Preserve at Twin Peaks community, purchased for approximately $6.7 million ($34,400 per lot).

With this pull-through of engineered inventory, Lennar can accelerate homebuilding supply to meet the growing demand of buyers in Marana and Tucson. The Twin Peaks Vista lots are poised to support new phases of single-family or multi-family development as infrastructure schedules permit.

Source: RED Comp #11950

TUCSON, Arizona — As we look back over the 782 commercial transactions to-date for Tucson in 2016, with the help of our RED Comps database, the ‘Deal of the Year’ stands out as being the highest retail sale of the “trophy asset” Wilmot Plaza. Purchased in September 2016, by DSW Wilmot Plaza LP, an Arizona-based investment group DESCO Southwest, managing director Michael Sarabia along with partner James Hardman believe strongly in the fundamentals of this recently redeveloped 139,000-square-foot multi-building neighborhood center.

The center has a long history of being a landmark retail center in the central-east corridor of Tucson. The substantial visibility from both Broadway and Wilmot roads, access to this major arterial intersection, and close proximity to Park Mall (General Growth Properties) and the St. Joseph’s Hospital and medical office complex all benefit the center.

Wilmot Plaza sold for $47.3 Million ($340 PSF) from BP Wilmot Plaza (Don Bourn, manager) a Bourn Companies’ destination retail re-development. Bourn had fully redeveloped the center with an all-star tenant line up including:  TJ Maxx, Dicks Sporting Goods, Nordstrom Rack, Payless Shoes and AT&T and sold fully leased.

Bourn had acquired the property in July 2013 for $6.2 million, seeing the potential when it was still 60-70% vacant. Renovations began in 2014, razing the north half of Wilmot Plaza, at the northeast corner, and completely remodeling the buildings that weren’t razed while tenants remained open. Through redevelopment efforts Bourn transformed the 10-acre property into a first-class shopping center.

Built in 1956, the property consists of relatively large buildings grouped along the northern and eastern edges of the site. The Tucson General Plan defines the area as a regional commercial activity center that includes Park Place Mall and several shopping centers along Broadway Blvd, a high-density office and residential node northwest of the intersection and the St. Joseph’s Hospital and medical office complex. The General Plan also encourages redevelopment and expansion of strip commercial development to improve traffic flow, pedestrian circulation and safety, and streetscape quality, providing primary access from arterial streets away from residential uses.

Toufic Abi-Aad (CFO Bourn Companies) handled the disposition for the seller, and Michael Sarabia and James Hardman (DESCO Southwest) represented DSW Wilmot Plaza LP. Tim Storey with Newmark Capital in Phoenix assisted with financing for the acquisition.

The acquisition reflects DESCO’s continued investment strategy in the Arizona marketplace where Michael Sarabia, managing member of DSW Wilmot Plaza LP and DESCO Southwest, has been an active participant for the past 16 years. Sarabia stated at time of sale, “When looking at submarkets we take into consideration several mitigating factors such as household income, growing population, quality of building, tenant mix, term of leases and strategic location of asset.  Don Bourn and his team have been able to source high profile sites and develop signature projects in irreplaceable locations, we are pleased to be able to work with them on this acquisition.”

The acquisition is part of DESCO’s continued investment strategy in the Arizona region, a market where they own/manage over 500,000-square-feet of retail and office.

Congratulations to DESCO Southwest and Bourn Companies!

For more information, Sarabia and Hardman should be reached at 520.297.8929 and Abi-Aad can be contacted at 520.323.1005. Storey can be called at 602.374.7854.

To learn more, see RED Comp #4163.

Dear Friends:

As 2016 grows closer, we can’t help but think back on how far we’ve come in Arizona and at the Real Estate Daily News and RED Comps over the past few years.

Whether you celebrate Christmas, Chanukah or the Winter Solstice, the season of giving and thankfulness is one which brings people together. Everything we’ve done in 2015 has been with an eye towards promoting development and the real estate community, while providing the best possible data.

We had no idea and no way to anticipate the reception we would receive when starting this endeavor three years ago. Thankfully, we had what felt like an army of supporters who stood with us through it all. Now, the end of 2015, not only have we survived – we’ve completed three years of sales comps data already!

Now, we’re all a little older and hopefully wiser.  We can see signs of the economy improving in 2016 – and we’ve all worked hard to be ready for it.

We appreciate the wonderful wishes and holiday greetings this time of year from all our friends and must share this extra special one that left us without words, other than to say thank-you, George Larsen.

Hi Karen,

Thank you very much for your friendship and support to our Southern Arizona CCIM Chapter, and for your lead-in and follow-up publicity for our December Year in Review/Family Feud program.

Your RED Comps and the Real Estate Daily News are the best source we have for commercial real estate sales and leasing comparables.  Your in depth transaction research is far superior to that of your competitors.  We now subscribe only to RED Comps.  But just as important as your service is, all of us in commercial real estate appreciate your community spirit and sincere interest in our careers and our business.

Wishing you all the best this Holiday Season and for the next year! 

The Larsen Baker Crew

P.S. I request that you post this in an edition of the Real Estate Daily News

The Real Estate Daily News will be closed (for the very first time) between Christmas and New Year’s this year. We sincerely hope these coming weeks are truly special for each of you and those you hold dear.

Onward Arizona!
The Team at The Real Estate Daily News & RED Comps
Karen, Michael, Judy, Jack and Joe

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