Cassidy Turley Completes Sale of $3.325 Million Property

Cassidy Turley, a leading commercial real estate provider in the U.S., completed the sale of Phase I (±15-acres) of a 23-acre site within the Las Sendas master-planned community to Ryland Homes. Total consideration for the full 23-acre site is $5 million. Sale price for the Phase 1 property was $3.325 million ($219,864 per acre).

Desert Creek at Las Sendas is located in Mesa near the Loop 202 and McDowell Roads. Brent Moser, Mike Sutton and Brooks Griffith with Cassidy Turley’s Land Group represented the seller, Talon Properties (Chris Arnold) during the transaction.

Ryland plans to build Desert Creek at Las Sendas in two phases. Phase 1, the 15-acres purchased, is planned for 102 detached lots. Ryland will close on Phase 2, 7-acres, in early 2014 with plans for an additional 43 lots. Desert Creek at Las Sendas will feature homes that range from 1,600 to 2,400 square feet with average sale price of $275 thousand.

The seller, Talon Properties, has been involved with Las Sendas since the late 1990s and has worked extensively with the City of Mesa on development plans for the community including residential, commercial and hotel facilities. Development plans for the property include a new IASIS Medical Center which will open in late 2014. Headquartered in Franklin, Tennessee, IASIS Healthcare is a leading provider of high quality, affordable healthcare services in urban and suburban markets in Arizona and Utah.

Cassidy Turley is marketing an additional ±19-acres for Talon Properties at Las Sendas. The property includes ±10-acres zoned C-2 and ±9-acres zoned PEP, City of Mesa.

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