TUCSON, Arizona — KB Home Tucson, Inc. purchased 111 platted and engineered lots in Rancho del Lago from Vail Valley Joint Venture of Tucson (Bill Estes III, manager).
The sale closed on September 5, 2017 with a purchase price of $3,607,500 ($32,500 per lot) for 50’ X 120’ lots.
Randy Emerson of GRE Partners, LLC represented the seller.
KB Homes will be joining Meritage, Del Webb, Pepper Viner Homes and Pulte at the Rancho Del Lago golf course community at the foot of the Rincon Mountains in the southeast submarket of Tucson.
D.R. Horton purchased 119 platted lots at Vista Del Lago Norte in Vail for $3,076,812 ($25,855 per lot). The Property consists of 119-platted lots in this 198-lot subdivision that were platted by the seller, Vail UPRR North LLC (Duff Heron, manager). Lot sizes are 45′ x 115′.
D.R. Horton purchased the other 79-lots last year and completed this second phase purchase on August 15, 2017.
Dan Feig with Chapman Lindsey Commercial Real Estate Services represented the seller.
For more information, Emerson can be reached at 520.396.4812 and Feig is at 520.747.4000.
To learn more, see RED Comps #5175 and #5148.