Tag Archives: land development

Cropped ADOT map of proposed expansion routes

$2B freeway expansion benefits $1.4M land opportunity

No stranger in representing multifamily and land opportunities, Chip Kloppenburg and John Trujillo with Sperry Van Ness in Phoenix are ready to make their own “land” mark at 5252 S. 36th Street in Phoenix. The team is representing the seller.  The 9.64 acres are located only 10 miles from the recently approved Loop 202 extension off Pecos Road.

The decision to end three decades of political squabbling finally came to an end last month and it’s become a huge milestone for the valley’s transportation needs.  This will finally complete the original 202 loop system that opened up for traffic in 2006, known as the Red Mountain Freeway.

“Any developer should be excited about this land parcel because there are so many amenities in the area. You have schools, the airport nearby, a few golf courses, and most importantly freeway access, including the upcoming extension.” Kloppenburg said, “This is a great opportunity and plenty of land to use for a great economic development.”

This freeway link is proposed in connecting the east and west of Pecos Road and then north and south between 55th and 63rd avenues connecting Interstate 10 on each end.  This could also be an economic boom for the Gila River community and all commercial properties within the vicinity, paving the way for more visitors in all directions.


Vermaland buys 8,000 acres at La Osa Ranch

Vermaland LLC, a land banking and land development company based in Phoenix, has made its first significant investment in the southeast Valley land market – and its largest to date – with the purchase of 8,000 acres in La Osa Ranch, a master-plan community near Casa Grande.

Vermaland bought 4,000 acres in La Osa Ranch in 2012 and recently acquired an additional 4,000 acres in the same community. Strategically located off of Interstate-10 between Greater Phoenix and Tucson, long-term plans call for residential, retail and commercial development at La Osa Ranch. The deal is one of the largest land deals in recent history and indicative of an improving real estate market.

“The market has been buoyant in the past six months and while we have made significant land sales, we also have seen great buying opportunities,” said Vermaland CEO Kuldip Verma. “The opportunities we have the land market will not been seen in the next 10 years.”

Vermaland currently has the largest holdings of 50-1,200 acre parcels in metro Phoenix and the La Osa Ranch is its first significant investment in the southeast Valley.

Verma said besides its location, La Osa Ranch is attractive because of the advanced ground-work already completed including all water and land studies. Current plans call for more than 33,000 residential lots, 1,000 acres of commercial development and 2,000 acres of open space, parks and trail systems. The purchasing entity for the project is Verma La Osa Ranch, an LLC holding company for Verma Legacy Trust.

Verma said the residential real estate industry and land sale market are increasingly improving throughout Greater Phoenix and Arizona as a whole. Currently, finished residential lots are seeing double their value in comparison to 2011, with most foreclosures being flushed out. He added that 2013 will have more raw land sales than 2008-2012 combined and that 2013’s raw land market is seeing record activity halfway through the year and expects this pace to continue. On a side note, Verma added that raw land remains a valued commodity given that only 17 percent of all land in Arizona is private land.

Vermaland prides itself on the ownership of high-quality land parcels with good road access, electricity and water, proximity to substations and flat land conditions to allow for easier building. In the height of 2007 and 2008, Vermaland supplied land to some of the nation’s largest solar projects. Because of limited expansion options in most areas of Phoenix, other than the west Valley and southeast valley, Vermaland entities have maintained their portfolio in these two areas.