By Real Estate Daily News
TUCSON, ARIZONA (August 4, 2023) — HSL Monarch Block 5, LLC, an affiliate of HSL Properties, Inc. of Tucson (Omar Mireles, President), closed on +/- 21 acres known as Block 5 of the Monarch master-planned community in Marana. The purchase price was $4,454,772 ($4.75 PSF / $206,910 per acre).
The parcel is located on Moore Road, fronting Interstate 10, and is contiguous to an additional 58-acre parcel HSL acquired in 2021 in Marana. The property was sold by the developer SBH Marana LP, an affiliate of Sunbelt Holdings (Sean Walters, President).
HSL Properties has been extremely active in this area for the past few years, acquiring several parcels in and around the hub of new industrial and commercial activity. HSL will hold this parcel for future development.
The Monarch masterplan has been one of North Marana’s most anticipated new projects. In addition to this sale, the first phase of 550 lots will be fully shovel-ready in the Fall. The project is approximately 450 acres in total and will be planned and developed for a variety of residential and commercial uses.
Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and are in charge of the marketing at Monarch.
