Watermark Retirement Communities Buys Land in Marana for $1.34M

MARANA Arizona — Watermark Retirement Communities (David Barnes, president) is building a 108-unit assisted living and memory car facility at 8689 N Silverbell Road in Marana. The 3.99 acres located southwest of Silverbell and Continental Reserve Loop recently sold to Watermark Marana for $1.34 million ($7.70 PSF) from Salem Marana Investments, an affiliate of Link Development of Salem, OR (Ronald Ziebart, owner).

The seller purchased the property in March 2016 for an assisted living facility from The DESCO Group.

The Town of Marana reports the retirement community plans were approved July 1 for a 96,324-square-feet facility, including 78 assisted living units and 30 memory care units.

Watermark is headquartered in Tucson providing assisted living, independent living and memory care services and currently manages 40 locations in 21 states.  Watermark Retirement Communities is the 20th largest senior living provider in the United States.

Other Watermark communities in Arizona include The Fountain at La Cholla, The Hacienda at the Canyon  under construction for delivery 2019 and The Hacienda at The River, an innovative Assisted Living, Memory Care and Rehabilitation & Skilled Nursing community, in Tucson, AZ broke ground in late 2015 and opened early in 2017.

The contractor for the Watermark Marana is Seabold Construction of Portland, OR.