BILL CLARKSON, CCIM Commercial & Investment Specialist

129 acres of land in Marana sells for $22 million

129 acres of land in Marana sells for $22 million

  • By: BILL CLARKSON, CCIM
  • Posted: June 06, 2022

 
Article Originally Posted By AZBigMedia On June 6, 2022
 
 
 
Flint Development announced it has acquired 129 acres of land in Marana from an affiliate of Crown West Land Group within the Crossroads at Gladden development located at Tangerine Road and Interstate 10. The acquisition encompasses Blocks 1 and 2 of Crossroads, bounded by Clark Farms Boulevard on the West and Interstate 10 to the East. Flint plans to immediately develop the Southern Arizona Logistics Center to include over 1.7 million sq.-ft. of Class “A” industrial space, with the first two buildings totaling nearly 1 million sq.-ft. The $22 million deal, one of the largest industrial real estate deals in Marana, was brokered by Tim Healy of CBRE’s Tucson office. 
 
The remaining 143 acres of Crossroads predominately fronts Tangerine Road and is planned for a mix of industrial, retail, and commercial uses expected to be developed in the next 24 months.

• Blocks 3 & 6: 104 acres for planned Industrial developments with over 1,500,000 square feet of warehouse and distribution uses.

• Block 4 & 5 (Corner of Clark Farms Blvd. & Tangerine): 12 acres for planned Retail, Commercial, and Lodging uses in a contiguous shopping center.

• Blocks 7 & 8 (Corner of Tangerine & I-10): 28 acres planned with a Fortune 10 retail user for a single ‘big-box’ store location of over 150,000 square feet offering both dry goods and grocery.

An affiliate of Crown West Land Group acquired Crossroads in 2021 as its adjacent Gladden Farms Master Planned Community neared sell-out to over six different national homebuilders, commercial and multifamily users, and the Marana Unified School District, Northwest Medical, and Northwest Fire District. The complimentary mix of uses at Crossroads will bring substantial commercial user and retail amenities to the Gladden Farms community and the Tangerine / I-10 intersection including employment opportunities.