Shea Homes Purchases 66 Acres for Southern Half of Trailside at Happy Valley

Graphic via broker flyer

Yesterday the southern 66 acres of the proposed Trailside at Happy Valley housing development sold to homebuilder Shea Homes. A partnership between TerraWest Communities and JEN Partners sold the land for just over $11.6 million, or nearly $177,000 per acre.

Phases 3 and 4 of Trailside at Happy Valley are proposed at 45 and 90 lots, respectively. The complete development is to total 361 lots on 162.8 acres near the southeast corner of Lake Pleasant Parkway and Happy Valley Road.

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Lot Banking Partnership Formed for "Catania" Development in Glendale

Area Map

79 platted lots for the new housing development "Catania" sold to DW Partners Friday from homebuilders K Hovnanian Homes for just over $2 million. An option agreement for all 79 lots recorded with the sale, listing K Hovnanian as homebuilder. The agreement expires late 2018. K Hovnanian previously purchased the land just a month prior to this sale.

Catania is a planned residential development at the southeast corner of 87th and Glendale Avenues, with minimum lot dimensions of forty-seven by one hundred feet.

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±860 Acres Planned for Sandia Master Planned Community Transacts in Coolidge

Area Map

A partnership between LeSueur Investments and Andersen Capital Partners purchased 858 acres in Coolidge earlier last month, planned for the master-planned community Sandia. Sellers the Wuertz family received over $10 million for the land, which they have owned for over fifty years. In addition, buyers signed an agreement with the Wuertz family to purchase an additional 881 acres directly to the north in a "phase-by-phase" basis, ending in 2017. This land is planned for "Sandia Phase 2".

Sandia is a master-planned community, set to include 11,000 homes and a 35-acre mixed use town center to be built on 3,214 acres.

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Vizzda Weekly - week ending 11/6/15

Keeping you up-to-date with CRE deals in the Phoenix metro area
Team Vizzda would like to present Vizzda Weekly - our complimentary weekly recap of commercial real estate activity in Maricopa County. Every Monday we send out Vizzda Weekly with the number of events we reported on and cataloged along with some featured events from the previous week.
Keep in mind, this is just the tip of the iceberg. Vizzda provides in depth information for all commercial properties - Multifamily, Office, Industrial, Retail, Storage, Hospitality, Mobile Home, Senior Facilities, Golf, Hospitals, Land & Lots - in Maricopa County to our subscribers. ***VIZZDA NOW COVERS PINAL COUNTY*** Team Vizzda is pleased to announce the addition of Pinal County data to our exclusive information service. Please contact Karyn MacVean at (480) 924-2000 orkmacvean@vizzda.com for pricing and assistance.
For the week ending November 6, 2015 Last week, Vizzda researched 97 Sales events totaling $237,326,691 in transaction value. We also reported on and cataloged 5 Distressed Property notices, 37 Debt Recordings and17 Planning & Zoning events.
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What happened in LAND last week? Vizzda reported on and cataloged 28 Land Sales, 1 Notice for Trustee Sale and 4 Debt Recordings in Maricopa County.
	Featured Land Sale: K Hovnanian Purchases ±18 Acres for $2M in Glendale K Hovnanian Homes acquired ±18 acres planned for 79 single family lot subdivision known as "Catania" on 11/2/2015 for a little over $2M from Sam Robin. No debt was recorded with the deal.   Vizzda subscribers - please click here for the full report.
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What happened in OFFICE last week? Vizzda reported on and cataloged 12 Office Sales, 1 Notice for Trustee Sale, 7 Debt Recordings  and 2 proposed Office Planning & Zoning events in Maricopa County.
	Featured Office Sale: Int'l School of Arizona Buys 3-Story Building for $5.25M in Scottsdale International School of Arizona acquired ±59K SF 3-story building from Healthcare Realty Trust on 11/5/2015 for $5.25M, with $6M in new debt with KS StateBank. The building, which was built in 1988 on 3.65 acres, is planned for renovations to be used by the Buyer as a private school.  Vizzda subscribers - please click here for the full report.
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What happened in MULTIFAMILY last week? Vizzda reported on and cataloged 9 Multifamily Sales, 6 Debt Recordings and 1 proposed Multifamily Planning & Zoning event in Maricopa County.
	Featured Multifamily Sale: Mobile Home & RV Park sells for $1M in Eloy Edward & Lauren Spilsbury (65% interest), Kristopher & Amber Monte (35% interest) purchased this mobile home park on 10/26/2015 from Charles F. Morgan for $1.015M ($20,300 per space) with $304K down and $710K seller-carry debt at a fixed rate of 5.5%. Broker lists CAP rate of 10.4% at $1.015 sales price, NOI of $105,560. Property 86% occupied at time of sale. Vizzda subscribers - please click here for the full report.
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What happened in RETAIL last week? Vizzda reported on and cataloged 13 Retail Sales, 8 Debt Recordings and 5 proposed Retail Planning & Zoning events in Maricopa County.
	Featured Retail Sale: Superstition Ranch Market Sells in Apache Junction for $1M Terrance J. & Julie A. McCuin purchased the ±18K SF freestanding retail property on 11/3/2015 from Pauline Matheson (owner of Superstition Ranch Market, tenant at time of sale) for $1M ($53 per SF) with $100K down. One of two same-day "Superstition Ranch Market" sales from Matheson to McCuin totaling $2.7M. $4.7M seller-carry debt encumbers both properties.  Vizzda subscribers - please click here and here for the full reports.
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What happened in INDUSTRIAL last week? Vizzda reported on and cataloged 10 Industrial Sales, 3 Notices for Trustee Sale, 9 Debt Recordings and 1 proposed Industrial Planning & Zoning event in Maricopa County.
	Featured Industrial Sale: ±5 Acre Industrial Property sells for $252K in San Tan Valley Justin Reed of Reeds Crew Services purchased the ±5 acre property, zoned GR, with 2 single story buildings on 10/16/2015 from Christopher J. & Lisa J. Pobstman of Sunland Welding (tenant at time of sale) for $252,500. There was no debt recorded with the sale. Subscribers - please click here for the full report.
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DISCLAIMER: The information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person viewing this information to independently verify it.

Two Acres Planned for Campbell Ave Townhome Development Sell for $3.8 Million

Parcel Area

2.15 net acres (2.62 gross) near the southeast corner of 24th Street and Campbell Avenue sold Tuesday for $3,825,000, or $41 per square foot of land. The site is planned for a 3-story residential project consisting of 46 townhome units. Family Development Group and Presidio Residential are the new owners of the land. No new loans were recorded with the transaction. The site is currently improved by 29 units of multifamily built in 1958-1972, set to be demolished.

For more information on this property including complete history, planning and zoning information, and buyer/seller contacts, visit us at our website or send us an email. We're happy to hear from you!



        

52.8-Acre Phase Three of Morrison Ranch Conveys

Subject Property Loacted West of the Southwest Corner of Sossaman & Guadalupe

Phase Three of Desert Place at Morrison Ranch, a 199-lot project in Mesa, sold yesterday in two sales. Pulte Homes purchased 50 lots, while Lennar purchased 149. After the sale, Lennar optioned 57 lots of their purchase to Ashton Woods. Morrison Ranch was the seller in these sales, and is the master developer of the 52.80-acre project.

Pulte Homes purchased their portion of the platted and engineered lots for $2,225,213 or $44,504 per lot. Lennar acquired their lots for $6,570,407 or $44,096 per lot. 

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American Homes 4 Rent Acquires 60 Properties

California-based American Homes 4 Rent acquired sixty single family residential homes throughout Maricopa County for $7,181,000 from Connecticut based Ellington Housing Inc as part of a 900 property $126 million portfolio deal. Although the deal was completed on December 31, 2014 no affidavit of value was recorded with Maricopa County until July 23, 2015. American Homes put $74.4 million down and assumed the remaining $51.6 million in debt set to mature on July 1, 2019.  The deal expands American Homes footprint from six states to twenty two and brings their ownership number to over 31,000 single family homes.

For more information on this property, visit us at our website or send us an email. We're happy to hear from you!



        

24,800-Acre Belmont Development Coming to West Valley

Area Map (Scaled back for reference)

The massive Belmont Master Plan has been approved as of June 24^th. The total 24,800-acre project will consist of residential, retail, office, and mixed use components (see chart below for breakout) as well as 21 K-8 schools and 3 high schools. 

Table

¹ of which 356 acres is reserved for professional / semi-professional offices and 183 acres for retail

The ±24,800 acres of land is located north of McDowell Road alignment, south of CAP Canal, West of Hassayampa River, and east of the Wintersburg Road alignment. The project was initially approved in 1991 and has been amended in 2006, 2008, and 2012.

For more information on this property including complete planning & zoning information, visit us at our website or send us an email. We're happy to hear from you!