Walton, a leading land asset management and global real estate investment company based in Scottsdale, Ariz., has completed a bulk sale of the 319-acre Vista Ranch property located in the city of Casa Grande, Ariz. The sale is part of Walton’s fund structure titled U.S. Land Fund 3.
Walton’s U.S. Land Fund 3 was formed in June 2012 to acquire land in strategic submarkets near key U.S. metro areas. The fund currently holds interest in five properties totaling 2,441 acres in Arizona, Florida, North Carolina, and Maryland. A total of approximately $13 million is anticipated to be distributed to investors in the fund within 60 days of the closing date, which was October 15, 2021.
Jen Ruby, Senior Vice President of Land for Walton said, “Walton continues to be excited by the growth opportunities in Casa Grande and we are actively advancing approvals on additional assets in this area.”
Walton manages two additional projects at this location, Southern Trails and Casa Grande Commons.
Vista Ranch’s location at the future traffic interchange of Interstate 10 and Kortsen Road is a prime location for those interested in the next major growth corridor in the Phoenix metropolitan area. located in the heart of Pinal County, Casa Grande is known as the Innovation and Technology Corridor and serves as the manufacturing, logistics, health care, retail and commercial hub for Pinal County. Less than 30 minutes from Phoenix and 45 minutes from Tucson, Casa Grande is the ideal area for servicing both cities that boast a population totaling 5.5 million people.
Casa Grande appeals to builders and developers with thousands of acres of land available for development. The new electric car company, Lucid, recently began production in Casa Grande, attracting other manufacturing companies to join them and sparking rapid growth in both the residential and commercial markets.
Ryan Willis with Willis Property Company represented the buyers, a group of local investors that has not disclosed plans for the property.