Arizona Real Estate Highlights

Posted By Mike Padgett

July 28, 2008

Phoenix company selling Colorado homesteads

The developer of Prescott Lakes and Prescott American Ranch and Wickenburg Ranch is launching sales of sites for custom homes in its first community in Colorado.

Phoenix-based M3 Companies is offering 106 sites in its Sandstone American Ranch, a residential development that will be part of a 2,000-acre working cattle ranch.

The price range of the sites is $800,000 to more than $2 million. The first phase has 30 sites, ranging from two to 25 acres. M3 Companies is in the process of creating a featured builder program, but buyers can bring in their own architect. However, each home design must go through a review process.

The residential development will be kept separate from the cattle ranch, which is about 100 years old. Some of the homesites will offer horse privileges. GH2 Gralla Equestrian Architects is designing an equestrian center for the development’s horse enthusiasts.

Other features include a community garden; a family camping area; a residents’ clubhouse; stocked catch-and-release fishing lakes; and a 16-mile trail system for hiking, riding and cycling in the warmer months and cross-country skiing in the winter.

Residents also will be invited to take part in cattle roundups; community cookouts; and guided hikes.

The new custom community is near Castle Rock, which is between Denver and Colorado Springs and next to Pike National Forest.

Besides its projects in Prescott and Wickenburg, M3 Companies has a 6,005-acre development in the foothills of Eagle, Idaho. The company principals are Bill Brownlee, Jeff Davis and W. Scott Schirmer.

New shopping in central Arizona

A new shopping center taking shape in Casa Grande is expected to serve the many homeowners who in recent years bought new homes in Pinal County south of metro Phoenix.

Evergreen Development in Phoenix and Diamond Ventures in Tucson went in as partners on Villago Marketplace, a major retail center in Casa Grande’s northern corridor. The shops are at the northeast corner of Pinal Avenue (Highway 387) and McCartney Road.

The anchor store is a 107,000-square-foot Fry’s Marketplace. Other tenants include McDonald’s, Subway, The UPS Store, a dental office and a variety of other retailers and restaurants.

Most of the tenants plan to be open by late August. The Volk Co. is the leasing agent.

The 20-acre development is within a short drive of several new housing developments, including Villago.

Tennessee aviation consultants opening in Phoenix

W.D. Schock Co., a Nashville, Tenn.-based aviation consulting company has signed a five-year lease for the first floor of a building under renovation at 2502 E. Washington St. in Phoenix.

The two-story building was bought in 2007 by Washington & 25th Street LLC of Scottsdale. The previous owner was Concentra Health Services Inc. of Addison, Texas.

W.D. Schock was represented in the lease talks by Virgil Berry of Berry Realty & Associates. The landlord was represented by Chris Ackel, Pat Horan and Tyler Hannay of CB Richard Ellis‘ Phoenix office.

Ackel said the building is in a prime location because it is next to the light rail line, set to open in December, and because it is near Phoenix Sky Harbor International Airport.

Perlman Architects of Arizona Inc. is handling the building redesign. Bjerk Builders Inc. is the general contractor. Renovations are to be finished by November.

Major health insurer has new address

The company that oversees Arizona’s Medicaid program has relocated from Tempe to new offices at 410 N. 44th St. in east Phoenix.

Health Choice Arizona signed the lease for 43,338 square feet of space in Gateway Three, an 11-story building in Gateway Center. The organization was represented by Mike Ragland of CB Richard Ellis‘ Phoenix office.

The landlord, Transwestern Phoenix Gateway LLC, was represented by Transwestern Senior Vice Presidents Jim Achen Jr. and Bill Zurek.

Health Choice Arizona is a managed care organization the provides healthcare for people in the state’s Medicaid program and the Arizona Health Care Cost Containment System.

Health Choice Arizona’s previous address was 1600 W. Broadway Road in Tempe.

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Jul 28th, 2008

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