Richmond American buys 40 large lots at High Mesa for $3.6 Million
Richmond American Homes purchased 40 finished lots northeast of Oracle Road and Hawser street in the first phase of Arcadia, known as High Mesa. The lots averaged 36,000-square-feet in size and were purchased for $3.6 million ($90,000 per finished lot). The SFR lots were developed and sold by C&S Land Investment Advisors (Chris Sheafe and Scott Stiteler managers) and are located just north of Oro Valley next to the backdrop of the Catalina mountains with dramatic views of Pusch Ridge
Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction.
The purchase represents the first phase of Arcadia. Phase 2 of 150 lots, similar in size, will finalize entitlements and is planned to be offered to the market at a later date in 2020. Land Advisors has the marketing assignment on Arcadia.
Lennar joins Meritage and Richmond American at Star Valley MPC
Lennar Arizona closed on 130 lots, 45’ x 110’, in the Star Valley master-planned community for $6,435,000 ($49,500 per finished lot). The seller in this transaction was GAC Star Valley, LLC (Michael Geddes, Rick Andreen and Sunbelt Holdings)
Lennar joins Meritage and Richmond American Homes in the relaunch of the project that will total 375 lots in the first phase. Lennar has built successfully through several positions at Star Valley over the years.
Read more on the Star Valley Relaunch in the Real Estate Daily News article July 24, 2020 Star Valley MPC relaunches with new lot acquisitions by Richmond American and Meritage Homes
Will White and John Carroll of Land Advisors Organization handled the transaction. Land Advisors has the marketing assignment for all lot sales in Star Valley.