News

Crown West Realty Announces Plans for 500,000 SF Industrial Project Known as the Euclid Logistics Center

Spokane Valley, WA – Crown West Realty, LLC is pleased to announce plans for a multi-building project located near the corner of 5th Street and Euclid Avenue within the Spokane Business & Industrial Park (The Park). Plans call for the construction of approximately 500,000 square feet in total which will transform the southeast corner of The Park into a state-of-the-art distribution and logistics center to be known as the Euclid Logistics Center. The first phase will kick off this year and consist of a 120,000 square foot concrete-tilt building featuring 36-foot clear heights, cross-dock capacity, 135-foot truck courts and built to LEED standards. Divcon Construction has been selected as the contractor. The remainder of the project will be built out as the market demands.

Owned

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Spring Update on North Marana Housing Market

North Marana comes into its own

If you haven’t stopped in the North Marana area in the past 5 years, it’s worth a closer look. This area, which is located just west of I-10 northwest of Tucson, is showing some of the best activity in the region and there are no signs of it slowing anytime soon.

Compared with Tucson’s constrained developable land supply, North Marana has plenty of runway to continue to provide homebuilders and developers ample room to grow. Mainly due to its agricultural origins, the area is free of washes and other site constraints that continue to challenge the development of the high desert areas to the east. Infrastructure is abundant in the area which makes it attractive to the developers as

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LAO-Tucson Closes on $12.61 Million of Land Sales in Northwest Tucson

TUCSON, Arizona — Will White and John Carroll with Land Advisors Organization (LAO) closed this week on $12.61 million in land sales in Rancho Vistoso and Gladden Farms in Northwest Tucson submarket.

A New York-based land investment REIT, JEN Arizona 32, LLC and affiliate TerraWest Communities (Mike Jesberger) purchased Blocks 5H and 5I (190 Acres) at Rancho Vistoso Neighborhood 5 in Oro Valley for $6.3 million. The buyer plans to plat the parcels for a mix of production lot sizes. The Seller was VP Loan II, LLC.

Richmond American acquired 19 paper lots in Rancho Vistoso Neighborhood 10T for $850,000 ($44,737 perplatted and engineered lot). The 19 lots are a Vistoso infill parcel sold by Tempe-based, Grace Holdings, LLC (Bernadette Wolfswinkel, manager).

“Rancho Vistoso goes

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Meritage Homes Stays Busy at Gladden Farms in Marana

MARANA, ARIZONA — Meritage Homes purchased portions of blocks 40 and 41 at Gladden Farms Master Planned Community in Marana for $1.4 million ($60,000 per acre) from Crown West Realty (Dean Wingert, member) the developer.

The 23 acres sold with preliminary plat for 119 – 45’ x 120’ SFR lots.

Gladden Farms is a 1,350-acre master planned community in northern Marana, just west of Interstate 10 between Tangerine and Moore Roads. With four homebuilders active in the community, it is one of the most active communities in the Northwest submarket.

Meritage bought its first block of 89 platted lots at Gladden Farms in December 2015.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and have the marketing assignment on

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Tucson SFR lot sales heat up in July

TUCSON, ARIZONA — DR Horton purchased 56 partially completed lots at Farm Field Five for $2.72 million ($48,568 per lot). DR Horton will be joining LGI Homes at Farm Field Five in North Marana, a 224-lot subdivision, a portion of Vanderbilt Farms. Dolphin Partners of Irvine, California was the seller.

KB Home, Lennar, Richmond American, and Meritage all continue to build at Gladden Farms. DR Horton has also started at Fianchetto Farms in North Marana.

There were no brokers involved in this transaction.

A.F. Sterling Home Builders, Ltd purchased four semi-custom home lots from Diamond Ventures at Stone House in Sahuarita for $267,000 ($66,750 per lot). Each are half-acre + lots. A.F. Sterling has purchased 19 lots to-date in this community.

Two rolling option closings

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Gladden Farm sees Phase II coming with Richmond and Lennar

MARANA, Arizona — Richmond American Homes and Lennar Homes teamed up to buy Block 35 and 39, the first sales in Gladden Farms II. Richmond acquired 64-lots for $3,456,000 and Lennar purchased 59-lots for $3,186,000, or $54,000 per finished lot.

Both builders are currently building in Gladden Farms I, to the west of the new Gladden Farms II. See Richmond and Lennar at the Homestead at Gladden Farms website.

Will White and John Carroll of Land Advisors Organization in Tucson handled these transactions and has the marketing assignment on all of Gladden Farms.

“This is an important and exciting event because it is the first lots purchased in Gladden Farms II. This closing will help kick off construction of the next phase of the community, according to

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Petrus Partners Sells 123 Finished Lots in Marana, AZ

Petrus Partners Sells 123 Finished Lots in Marana, AZ

Marana, AZ – Petrus Partners Ltd. (“Petrus”), in association with its subsidiary Crown West Realty (“CWR”) of Tucson, AZ (Dean Wingert, Vice President), has sold 123 finished lots in Phase II of the Gladden Farms master planned community for $6.6 million. Lennar and Richmond American purchased the lots. Will White of the Land Advisors Organization represented the seller.

The Gladden Farms master planned community has over 1,480 constructed single-family homes within the completed Phase I which is fully committed to national homebuilders including Meritage, Richmond American, Lennar, and KB, all of which have active subdivisions open for sale.Phase I will have a total of 1,747 residential units upon build-out. Commercial parcels, totaling 42 acres, have been

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Petrus Partners Sells 376 Finished Lots in Gold Canyon, AZ

Gold Canyon, AZ – Petrus Partners Ltd. (“Petrus”), in association with Voyager Investment Properties, LLC (“Voyager”) of Scottsdale, AZ (Mark Voigt and Dave Rogers, Principals), has sold 376 finished lots in Phase I of the Peralta Canyon master planned community for $23.2 million. Six leading homebuilders including Lennar, Cal-Atlantic, Gehan Homes, Beazer Homes, David Weekley Homes, and KB Home purchased finished lots in the master planned community between June 2017 and February 2018. Bret Rinehart and Ryan Semro of the Land Advisors Organization represented the seller.

Peralta Canyon is located in Gold Canyon proximate to Highway 60, 14 miles from Mesa and 18 miles from Phoenix Mesa Gateway Airport. Major retailers, restaurants and services are within a 10-minute drive, with a health club and multiple

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Richmond American to Celebrate New Community in Tucson

TUCSON, Ariz., Feb. 27, 2018 /PRNewswire/ -- Richmond American Homes of Arizona, Inc., a subsidiary of M.D.C. Holdings, Inc. (MDC), is pleased to announce the opening of Santa Rita Ranch III in southeast Tucson. Prospective homebuyers and area agents are invited to attend the community's Grand Opening event on Saturday, March 10, 2018, from 12 to 4 p.m.

ABOUT SANTA RITA RANCH III

Located next to the stunning Santa Rita Mountains for which it was named, Santa Rita Ranch III offers five inspired ranch and two-story floor plans with incredible included features, such as premium hardwood cabinetry and GE®appliances, as well as hundreds of exciting personalization options. New homes at the community feature three to five bedrooms and approximately 1,810 to 2,910 square feet, from

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Santa Rita Ranch III Moves Ahead with Two New Homebuilders in the Vail Area

TUCSON, Arizona — Richmond American (NYSE: MDC) and Lennar Homes (NYSE: LEN) are the first two homebuilders to enter Santa Rita Ranch Phase III. Each builder purchased 68 SFR lots recently from Crown West Realty (Dean Wingert, VP) for a finished cost of $50,750 per lot, or $6.9 million.

The Santa Rita Ranch Specific Plan was first approved by the County in 1988 for 2,435-acres and up to 5,307 units. Stanley P. Abrams and Santa Rita Partnership were the applicants. Crown West acquired its portion known as Santa Rita Ranch III in 2013, a total of 182 acres and 330-lots being developed by Crown West.

Nestled into the foothills of the scenic Santa Rita Mountains. “Each additional phase of the community climbs higher into the

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