Cassidy Turley Completes Sale to Ryland Homes for Phase I Desert Creek at Las Sendas

Homebuilder Closes on 15-Acres of 23-Acre Project in Mesa, AZ

Published on September 26, 2013


PHOENIX – 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 $5,000,000. Sale price for the Phase 1 property was $3,325,000 ($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 $275,000.

The seller, Talon Properties, has been involved with Las Sendas since the late 1990’s 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.

About Cassidy Turley

Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.

Alison Melnychenko

602.224.4459

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