Leman Academy of Excellence, Inc. (Dr. Kevin Leman, Dennis O’Reilly, Lynne Houlton and Joe Higgins, directors) purchased 4.49 acres of vacant land southeast of Silverbell and Cortaro Roads in Marana for $1.275 million ($6.52 PSF). The property was purchased for construction of a new public charter school and is located adjacent to Pima County’s Wheeler Taft Abbett Library in Marana at 7800 N Schisler Drive, Marana and will hold official groundbreaking one week after closing.

The buyer liked the site not only because of its proximity to the library but also because Marana is expected to explode in housing growth over the next few years, and new families will be moving into the area. The school will be built in Continental Ranch master-planned community, already with plenty of young families living there, while the Town of Marana grew by 223.54% since 2000.

Dr. Leman, a renowned psychologist and dynamo radio / TV personality, educator, speaker, and author of over 45 books on parenting, marriage, and family living, is founder and namesake of the new school. The Leman Academy of Excellence will be for K-6 grades and be based on a classical education where all disciplines are treated as interrelated, allowing students the ability to think independently and critically.

Dennis O’Reilly, Head of Leman Academy of Excellence says, “There’s not another tuition free classical charter school in Southern Arizona.” Classical Education is based on the three stages of learning: grammar, logic and rhetoric. The idea is to make it fun and keep the students engaged through their own natural curiosity.

The concept must be hitting a chord with parents, as we were told there are almost 500 students pre-enrolled, prior to groundbreaking, for the 600-student seats available.

Carhuff + Cueva architects and Canyon Building & Design general contractor, both Tucson firms, are working to have the 48,300-square-feet, Phase I buildings, ready for the 2015-2016 school year. The school also has future expansion plans for the 4.49 acres as well as an interest in taking the concept nationally.

Almost a year in planning at this site, the Leman Academy of Excellence will have its groundbreaking on Saturday March 21 at 9:30 a.m. followed by ‘a bring your own picnic lunch and stay to play’ in the park event. Click here for map Silverbell-Cortaro District Park playground.

Patrick Welchert, SIOR, Industrial Specialist with Cushman & Wakefield | PICOR, represented Leman Academy of Excellence and David Montijo, First Vice President with CBRE, represented the seller, Silverbell Cortaro LLC, an affiliate of Diamond Venture of Tucson (Don Diamond, chairman) in the transaction.

To learn more, Welchert can be reached at 520.546.2748 and Montijo should be contacted at 520.323.5136. The Leman Academy of Excellence website is https://lemanacademy.com/

For additional information on this transaction see RED Comp #2729.

It was just a week or so ago, we were reporting on the perfect storm for homebuilders at Dove Mountain in Northwest Tucson, and now we have the highest land sale year-to-date to report from there. Texas-based, Forestar (USA) Real Estate Group (Bruce Dickson, chief real estate officer) closed on 98-platted lots at Boulder Bridge Pass II at Dove Mountain for approximately $5.9 million ($59,732 per lot). Click here for prior story from March 10.

Forestar (NYSE:FOR) is headquartered in Austin, Texas and manages three market segments: Real Estate, Oil and Gas, and Other Natural Resources. The Real Estate segment engages in the acquisition, entitlement, development, and sale of real estate; primarily residential and mixed-use communities and represents about 70% of the company’s business. Forestar sells residential lots primarily to homebuilders; and undeveloped land through its retail sales programs, as well as operates income producing properties, such as a hotel and multifamily properties.

Since 1955, Forestar has been selling quality land in Georgia, Texas and across the Southeast. This segment owns, directly or through ventures, approximately 113,000-acres of real estate located in 10 states and 13 markets in the United States; has 11 real estate projects currently representing approximately 24,000-acres in the entitlement process, as well as 75 entitled, developed, or under development projects in 10 states and 13 markets encompassing approximately 12,000-acres. This is the company’s first entry into Arizona that we could find through a public record search.

Boulder Bridge Pass II is at the northwest corner of Dove Mountain Boulevard and Boulder Bridge Pass. The 98 lots average 9,288-square-feet and are on about 40.3 acres with open space.

Forestar and Dove Mountain share a commitment to developing communities that provide balanced solutions through social, environmental and economic sustainability. Through a balanced solutions approach, Forestar likes to integrate green spaces and open areas into its communities, integrate water and energy saving features, and strive to conserve the natural beauty of surrounding areas.

Will White and John Carroll with Land Advisors Organization in Tucson handled the transaction for buyer and seller, Cottonwood Properties, Inc. (David Mehl, president) through its affiliates, DM Phase IV Investment, LLC and Dove Mountain Investors, LLC

White told us Forestar must have been attracted to the extraordinary natural beauty of Dove Mountain, where social, environmental and economic sustainability is part of everyday business. “We are excited to have Forestar join Dove Mountain and hope this to be the start of a long-standing, successful relationship for them in Southern Arizona,” White said.

To learn more White and Carroll should be contacted at 520.514.7454 or see RED Comp #2734 for additional information.

Because of the changing nature of office demand, we expect the overall office demand growth to be more muted than past cycles. Nevertheless, certain high quality assets continue to be characterized by long-term rent growth potential and asset-level characteristics such as location, quality, transit access, and amenities have become more important than ever in the Tucson office market. Building-specific characteristics are more critical today than ever.

The following three central Tucson office sales represent an aggregate of 20,009-square-feet and $2.572 million.

The central Tucson office building at 3320 N Campbell Avenue in Tucson sold for $1.45 million ($156 PSF). A 9,312-square-foot, class B building located north of Fort Lowell on Campbell Avenue, was constructed of adobe brick in 1982. The buyer, AM Campbell LLC of Tucson (Alan Miklofsky) purchased it to owner occupy 4,950-square-feet while continuing to lease the remainder to Peto & Company CPA firm and Dr. Alexa Carrara, DDS of Campbell Dental Group.

Roger Breckenridge with Long Realty Company in Tucson represented the seller, Matthew Rabb Trustee for Lloyd Rabb Family Trust and J. Patrick Butler and Debbie L. Goodman of Tucson. The buyer was represented by Michael Miklofsky of Real Estate Marketing Professionals of Tucson.

To learn more Breckenridge should be contacted at 520.918.5813 and Miklofsky can be reached at 520.721.1478.

A vacant, former medical clinic at 3402 E Broadway Blvd in central Tucson sold for $886,900 ($161 PSF) to a local investment group, Broadway Property 3402 LLC (Mena and Jeffrey Latas, members). The freestanding class B, 5,510-square-foot building is located across from the El Con Mall between Country Club and Alvernon Way on Broadway Boulevard. Build in 1992, the property is divisible and sold with excess land for parking or building expansion. Concentra Urgent Care last occupied the building before moving to 7119 E Broadway Blvd. in Tucson.

The seller, Cornerstone Investment Company of Tucson (Craig Courtney, director) has owned the property since 1994 and is also a licensed real estate broker in Arizona dba Courtney Realty and Investment. The buyer was represented by Doug Marsh and Lori Casey of Oxford Realty Advisors, who are also handling the leasing.

To learn more Courtney can be reached at 520.293.8280 and Marsh and Casey should be contacted at 520.232.0200. See also RED Comp #2544 for additional information.

Wildcat Equities II and DBR Investment Properties LLC of Tucson (Brandon Matheson, member) purchased the office building at 3816 E 5^th Street in central Tucson for $235,000 ($45.30 PSF). The 5,187-square-feet in four buildings was constructed circa 1966 and 1967 and includes a 1,394-square-feet single family residence that was rented at time of sale. The remaining 3,168-square-feet was built out as dental office space, vacant, available for lease.

Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | Picor in Tucson, is a partner in buying entities and represented the buyers in the transaction, while Angelica Quintana with Keller Williams Southern Arizona represented the seller, Palo Verde Enterprises Inc. (Norman Don, president). Rodgers is handling the leasing of property.

To learn more Quintana can be contacted at 520.615.8400 and Rodgers should be reached at 520.546.2714. For additional information see RED Comp #2714.