June 17, 2013


Toll Brothers Buys Lots at Reserve at Tranquil Trail in Carefree

Cassidy Turley Completes $3.697 Million Sale of 29 Lots

Cassidy Turley, a leading commercial real estate provider in the U.S., announced today that Toll Brothers AZ Construction Company, Inc. purchased 29 lots at the Reserve at Tranquil Trail, located on the northeast corner of Cave Creek Road and Tranquil Trail in Carefree. The company purchased the lots, approximately one-third to one-half acre each, for $3,697,500. Brian Rosella and Will French with Cassidy Turley’s Land Group represented the seller, Boundary Waters Bank.

Toll Brothers plans to build single family homes on the lots. “The Reserve at Tranquil Trail offered Toll Brothers the opportunity to obtain large lots in an established, upscale residential area in Carefree,” according to Rosella. The Reserve at Tranquil Trail opened in 2006 and the original developer, Classic Stellar Homes, built 23 homes before the company went bankrupt and the remaining lots reverted to the lender. The purchase is the first for Toll Brothers in Arizona in over two years.

Toll Brothers AZ Construction Company, Inc. is the Arizona division of Toll Brothers, the nation’s premier builder of luxury homes and is a publicly owned company whose stock is listed on the New Your Stock Exchange (NYSE: TOL). Name the 2012 Builder of the Year by Professional Builder magazine, the company is currently building in 19 states, including Arizona. Visit www.tollbrothers.com for more information.

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. 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 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.

Cassidy Turley provides regional real estate services with local market leader Cassidy Turley Arizona. The company offers brokerage investment and advisory services in office, industrial, retail, multi-family, land and property management. The firm has completed nearly $10.7 billion in transactions since 2003 and was the No. 1 ranked Commercial Real Estate Brokerage Company in the Phoenix Business Journal’s 2010 and 2012 Book of Lists. For more information on Cassidy Turley Arizona visit www.ctarizona.com or call 602.954.9000.