Leasing and Development

38 acres of land in Buckeye sells for $2.4M

A subsidiary of Petrus Partners LTD in New York — Encanto 2020, LLC — has purchased 38 acres of land in Buckeye, Arizona for $2.4 million. Kidder Mathews Vice President Brian Rosella represented the seller, Mike Geddes with Jackencanto, LLC, in the transaction.

Development plans for the property, located at Jackrabbit Trail & Encanto Boulevard, include 103 residential lots and five acres of commercial space.

“The residential land market is still on fire as developers and builders are looking in all parts of the valley for more land to feed the continued influx of new residents moving to Phoenix,” said Rosella.

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Will White Discusses North Marana Growth Looking Forward

North Marana growth heats up as the area looks to be a major beneficiary of Tucson’s strong market

Land deals seem to be non-stop these days in this sub-market of southern Arizona and Real Estate Daily News decided to look deeper into what is driving this. We thought there was no better place to start than the company who has been the “go to” source in this area. Will White and John Carroll of Land Advisors Organization have been involved in a major portion of the activity in north Marana for decades and represent several of the area’s larger projects going forward.

We recently sat down with White to get his thoughts on all this activity in north Marana and to ask what

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Significant Master-Planned Community Closings Drive Strong Activity in Tucson

Tucson, Arizona – Land Advisors Organization - Tucson continues a strong second half of 2021 within master-planned communities throughout the area. With over 70% market share of current and future residential lots throughout the Tucson Metro, the Tucson team of Will White and John Carroll continue to represent the top producing master-planned communities and substantial residential projects throughout the region.

Over the course of the last 45 days, the Tucson team has transacted more than 600 lots and over ±500 acres of large residential developments. Among this total, noteworthy ones include closings within the Gladden Farms MPC, located in the town of Marana where KB Home Tucson, Inc. purchased 136 lots and Meritage Homes of Arizona purchased another 169 lots from the developer (Crown West

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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

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Centex Brand Continues Arizona Expansion with New Tucson Community

Gateway at Gladden Farms to serve first-time homebuyers seeking outstanding value and quality

Centex Homes is expanding its offering of affordable homes in Arizona with its first community in the greater Tucson area. Located in Marana, Arizona, Gateway at Gladden Farms will feature energy-efficient, single- and two-story home designs with built-in smart home technology and a variety of impressive amenities all available for a low monthly payment.

"The demand for affordable new homes is booming as consumers seek the benefits of homeownership while escaping the trap of continuously escalating rents," said Rebecca Lundberg, PulteGroup’s Arizona Division President. "Gateway at Gladden Farms is a unique community that brings affordable, high-quality homes to the Tucson market in an established, amenity-rich Marana neighborhood that is close to employment

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Industrial park owners look to expand at new Spokane Valley site

The owners of Spokane Business and Industrial Park have purchased 39 acres near the corner of Barker and Euclid roads in Spokane Valley to build a similar facility that is designed to target distribution-type businesses.

Dean Stuart, Crown West Realty LLC vice president, said the company hopes to break ground later this year, pending permit approvals.

“We have a lot of Fortune 100 companies that have told us that, logistically, Spokane Valley is the ideal location when they look at their studies,” Stuart said. “That’s where they land to serve this greater market area of Spokane, Coeur d’Alene and even Central Washington and eastern Montana.”

Plans for the Barker Logistics Center could include a total of about 600,000 square feet

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Lennar picks up balance of Santa Rita Ranch III in Vail, AZ

TUCSON, Arizona — Lennar Homes (NYSE: LEN) has purchased the remaining lots in Phases 2 and 3 at Santa Rita Ranch III, southeast of the intersection of Houghton Road and Sahuarita Road. This purchase was made up of 194 SFR lots (60’X120’ and 70’X120’) for a finished cost of $76,849 per lot, or $14.9 Million. The seller in this transaction was Santa Rita Ranch III, LLC and Santa Rita Ranch III 2015, LLC (Crown West Land Group, Dean Wingert, Vice President).

The Santa Rita Ranch Specific Plan was first approved by the County in 1988 for 2,435-acres and up to 5,307 units. Crown West acquired the Santa Rita Ranch III portion in 2013, a total of 182 acres and 330-lots nestled into the foothills

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The Dirt: Second phase of Euclid Logistics Center on horizon in Spokane Valley

A second phase of a multibuilding industrial development will soon be underway at the Spokane Business & Industrial Park in Spokane Valley.

Crown West Realty, owner and manager of The Park, recently filed a building permit application with the city to build a 120,000-square-foot LEED-certified structure at 16619 E. Euclid Ave. with cross-dock capacity and 135 truck courts.

The building permit valuation is $6.7 million, according to the application.

The proposed building will mark the second phase of the Euclid Logistics Center, which will consist of four structures spanning a total of 500,000 square feet and will transform the southeast corner of The Park into “a state-of-the-art distribution and logistics center,” according to Crown West Realty’s website.

Crown West Realty earlier this year completed

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Demand for housing in Tucson market outpaces supply

TUCSON, Ariz. (KOLD News 13) - Despite being in the midst of a pandemic with historically high unemployment, the housing market is booming.

Gladden Farms, a master-planned community in Marana, is a good indicator of what the housing market in this area looks like.

“The project is moving at a pace that it hasn’t seen since before the great recession, so you are literally talking about 14 years ago. It has certainly been a quick turnaround,” said Dean Wingert, a vice president with Crown West Land Group.

Wingert said Gladden Farms has more than 2,000 homes.

“Just within the last two months, we have sold over 300 lots to home building companies,” Wingert said.

Wingert said despite home builders virtually taking March and April off

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Richmond American and Lennar continue to add to their positions at Gladden Farms

Richmond American Homes purchased 69 lots (60’X 120′) in Block 30 for $4,195,200 ($60,800 per lot) and Lennar purchased 67 lots (60’X120′) in Block 30 for $4,073,600 ($60,800 per lot). The lots were purchased from Gladden Phase II, LLC (Crown West Land Group, Dean Wingert, Vice President).

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 has been a top performing community in the Tucson area for many years and is one of the most active projects in the Northwest submarket.

Richmond American and Lennar have bought and sold through several blocks at Gladden Farms since the project opened.

Will White and John Carroll of Land Advisors Organization in Tucson

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