Karen Schutte | Real Estate Daily News
MARANA, Arizona – LGI Homes purchased 10 acres at the Northeast corner of Sanders and Moore Roads in Marana for approximately $1.073 million ($107,000 per acre). The land purchased for a new community was zoned ‘neighborhood commercial’ which allowed higher density residential uses. LGI has submitted a preliminary subdivision plat for (54) 40’ x 110’ lots.
Will White and John Carroll of Land Advisors were the only brokers involved in the transaction and represented the seller, a joint venture between Susan Ong, CCIM, of Tucson-based BroadStone Commercial Real Estate, and Carl Winters and Mark Winkleman of Phoenix.
“North Marana continues to be a big “go to” area by the Tucson region’s homebuilders,” White said. “The submarket is extremely balanced with very good production into 2020 and limited, developable supply going forward. We fully expect Marana to continue to be a large part of the homebuilders’ Tucson business plans over the coming years.”
LGI Homes is a Texas-based builder of housing developments, with its development projects mostly focused in the southwestern region of the United States. According to Builder Magazine, LGI Homes is the 10th largest home builder in the United States.