Velocity Retail Group LLC is pleased to announce the sale on April 3, 2024 of 14-acre Heritage Park commercial development site, located at the southeast corner of Tangerine Road & Lon Adams Road, Marana, AZ, for $3,800,000 ($6.23/SF). The transaction was brokered by Brian Harpel and Eli Castronova of Velocity Retail Group LLC.
The site sits across from the Gladden Farms Marketplace, which is currently under construction and will include a new Fry’s Marketplace, anticipated opening 3Q 2024. The property is surrounded by the Gladden Farms Master Planned Community and forms a part of the rapidly developing Tangerine Road commercial corridor.
The Seller, HOH Land Holdings LLC (Waseem Hamadeh) is a highly successful real estate investment company. The Buyer, an entity of Rio West Development & Construction (Walter and Brad Hoge) has an excellent track record with a 30-year completed project history across all commercial sectors in the Tucson metro area. They will continue to move ahead developing the property into the “Heritage Park Commercial Center” project. The project consists of nine retail frontage pads and two mixed-use pads in the interior. Multiple national tenants are currently in negotiations to take part in the development and additional pads are also available.
“The Buyer and Seller are highly qualified real estate firms and we are happy to help them come together to complete the subject transaction that was a win / win for both” commented Eli Castronova who along with Brian Harpel are excited to remain on-board to continue marketing the pads for Rio West.
For more information about Heritage Park Commercial Center project, please contact Brian Harpel or Eli Castronova.
Contact info:
Brian Harpel Ph: 520-909-8505; Email: bh@velocityretail.com
Eli Castronova Ph: 602-999-5425; Email: ec@velocityretail.com