{"id":1004067017,"date":"2013-02-08T18:17:19","date_gmt":"2013-02-09T02:17:19","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=101078"},"modified":"2025-02-25T23:36:39","modified_gmt":"2025-02-26T07:36:39","slug":"ny-developer-acquires-last-lots-in-master-planned-community-from-forest-city","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ny-developer-acquires-last-lots-in-master-planned-community-from-forest-city\/","title":{"rendered":"NY Developer Acquires Last Lots in Master-Planned Community from Forest City"},"content":{"rendered":"<p>By Camelia Bulea, Associate Editor<\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/gladden-farms-tucson.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-101081\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/gladden-farms-tucson.jpg\" alt=\"\" width=\"300\" height=\"167\" \/><\/a>New York-based Petrus Partners Ltd. recently announced the acquisition of the last undeveloped lots remaining in Gladden Farms, a 1,350-acre master-planned community in Marana. This is Petrus\u2019 13th residential land acquisition in Arizona since 2008.<\/p>\n<p>\u201cWe plan to be the new master developer of the community,\u201d said Dean Wingert, the new top local executive for Petrus. The new owner bought:<\/p>\n<ul>\n<li>500 undeveloped residential lots in Gladden Farms Phase I;<\/li>\n<li>370 acres of entitled residential land and 123 acres of commercial property in the Phase II section.<\/li>\n<\/ul>\n<p>The seller was the Forest City Land Group, a subsidiary of Cleveland-based Forest City Enterprises, Inc. The company launched Gladden Farms in 2003 and developed the master-plan community, which also includes a 58-acre hospital campus site sold to Community Health Systems Inc. in 2007, according to an official statement of Petrus Partners.<\/p>\n<p>Circa 1,100 homes have been built on the site in the past 10 years by national builders like Pulte Homes, Lennar Homes and MDC-Richmond American Homes. The single-family homes at Gladden Farms are priced from $175,000 to $250,000, according to the community\u2019s website.<\/p>\n<p>Marana, located 24 miles northwest of the Tucson central business district, has been among Tucson\u2019s best-performing submarkets in recent years. Together with Town of Oro Valley, it represents about one-third of Tucson\u2019s new home sales.<\/p>\n<p>Meanwhile, other big land parcels were sold in recent weeks in master-planned communities in the Tucson area.<\/p>\n<p>According to <em><a href=\"https:\/\/www.insidetucsonbusiness.com\/news\/three-big-land-parcels-sold-valued-at-million\/article_49963aa2-6fd1-11e2-a30e-0019bb2963f4.html\" target=\"_blank\" rel=\"nofollow noopener\">Inside Tucson Business<\/a><\/em>, a partnership of Lennar and Richmond American purchased 165 lots at Mountain Vail Estates, a 135-acre master-planned community in Vail, for $4.3 million. Additionally, Vistoso Holdings Two LLC bought a 26-acre infill parcel at Rancho Vistoso for $3.4 million.<\/p>\n<p><em>Photo via www.gladdenfarms.com<\/em><\/p>\n<p>For more news from Tucson, <a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-new-deliveries-in-tucson-skyrocket-to-highest-levels-since-2006-rents-flatline\/1004060153.html\" target=\"_blank\" rel=\"nofollow noopener\"><strong>click here<\/strong><\/a><strong>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York-based Petrus Partners Ltd. has recently announced the acquisition of the last undeveloped lots remaining in Gladden Farms, a 1,350-acre master-planned community in Marana. This is Petrus&rsquo; 13th residential land acquisition in Arizona since 2008.<\/p>\n","protected":false},"author":271,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[1815],"class_list":["post-1004067017","post","type-post","status-publish","format-standard","hentry","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NY Developer Acquires Last Lots in Master-Planned Community from Forest City - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ny-developer-acquires-last-lots-in-master-planned-community-from-forest-city\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NY Developer Acquires Last Lots in Master-Planned Community from Forest City\" \/>\n<meta property=\"og:description\" content=\"New York-based Petrus Partners Ltd. has recently announced the acquisition of the last undeveloped lots remaining in Gladden Farms, a 1,350-acre master-planned community in Marana. This is Petrus&rsquo; 13th residential land acquisition in Arizona since 2008.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ny-developer-acquires-last-lots-in-master-planned-community-from-forest-city\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-09T02:17:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T07:36:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/gladden-farms-tucson.jpg\" \/>\n<meta name=\"author\" content=\"Camelia Bulea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-developer-acquires-last-lots-in-master-planned-community-from-forest-city\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-developer-acquires-last-lots-in-master-planned-community-from-forest-city\\\/\"},\"author\":{\"name\":\"Camelia Bulea\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/71754b36bc1882cf2fc692fe215d26c7\"},\"headline\":\"NY Developer Acquires Last Lots in Master-Planned Community from Forest City\",\"datePublished\":\"2013-02-09T02:17:19+00:00\",\"dateModified\":\"2025-02-26T07:36:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-developer-acquires-last-lots-in-master-planned-community-from-forest-city\\\/\"},\"wordCount\":294,\"commentCount\":1,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-developer-acquires-last-lots-in-master-planned-community-from-forest-city\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/02\\\/gladden-farms-tucson.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-developer-acquires-last-lots-in-master-planned-community-from-forest-city\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-developer-acquires-last-lots-in-master-planned-community-from-forest-city\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-developer-acquires-last-lots-in-master-planned-community-from-forest-city\\\/\",\"name\":\"NY Developer Acquires Last Lots in Master-Planned Community from Forest City - 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