Gladden Farms MPC continues record year as Lennar loads up with new acquisition
MARANA, ARIZONA — Lennar Arizona, Inc closed on 212 lots (45’X120′ and 60’X120’) in Block 37 of Gladden Farms for $13,650,675. The finished lots were purchased from Gladden Phase II, LLC (Crown West Land Group, Dean Wingert, Vice President).
Lennar has built homes in Gladden Farms for many years, and this is the homebuilder’s second acquisition in the community in the past 12 months. The new neighborhood will be known as Sunstone at Gladden Farms. The sale represents the second home builder purchase in the latest phase of Gladden Farms which will include over 800 lots that will be purchased and developed in 2021.
Mattamy Homes purchased 115 lots in February of this year and an additional 423 residential lots are currently in escrow with other builders. See Real Estate Daily News March 5, 2021, Mattamy Homes enters Premiere Gladden Farms MPC.
This surge in acquisition and development activity comes as follow up to a very strong 2020 for the master-plan community.
Gladden Farms is a 1,350-acre master planned community in northern Marana, just west of Interstate 10 between Tangerine and Moore Roads. The master-plan was the top performing community in the Tucson area in 2020 with 235 new home sales and is the most active project in the Northwest Tucson submarket. The community is now home to 6 builders – Meritage Homes, Richmond American, Lennar, Pulte Homes, KB Home, and Mattamy Homes.
Will White and John Carroll of Land Advisors Organization in Tucson handled the transactions and have the marketing assignment for all of Gladden Farms.
White commented “The pace of permits and sales at Gladden Farms continues to increase as 2021 unfolds. Homebuilders have ordered several hundred lots in anticipation of this activity and the good news is the project looks ready to provide “just in time” lot inventory to homebuilders for quite a while.”