Karen Schutte, Real Estate Daily News
MARANA, ARIZONA – An affiliate of MODERNE Communities of Scottsdale (Randy Bury, founder and owner) MC RB Land 154 Marana LLC, purchased 154.55 acres of raw land at the southeast corner of Wentz and Marana Roads in Marana for a new unnamed subdivision for $8,606,678 ($521,549 per acre). The property sold on a price per acre.
MODERNE is in the process of rezoning the property for approximately 700 SFR lots for development and resale. The property is within 1/4 mile of the 70-acre Barnett Farms the company purchased and subdivided into 251 lots that sold to DR Horton in 2020.
“It is also across from Sanders Grove,” said Bury. “We will be rebranding Sanders Grove to Ranch House with an amended plat for about 3,000 lots ranging in size from 4,500- to 6,500-square-feet.”
Bury holds approximately 810 acres that will include approximately 3,000 lots as part of the masterplan community project. The first phase of Ranch House, or approximately 500 lots is targeted to come to market around mid-2023.
“Demand for new housing in North Marana continues to grow, which is quickly depleting the number of new buildable communities,” Bury commented. “The area is emerging as a jobs corridor with its easy access to I-10. I expect this submarket to continue to be strong and people keep moving here for our warm weather and outdoor lifestyle.”
The transaction was handled by Will White and John Carroll of Land Advisors Organization (Tucson). White also represented the seller, a California family investment group, PVC Properties when they purchased it in 1998.
White predicted last year to expect the Marana Road Corridor to heat up.
Land Advisors will also handle the marketing of Ranch House.
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