Rapid growth in Tucson鈥檚 southeast submarket has prompted investors to buy a swath of land along Interstate 10 for future development.
RMG Vail II LLC bought about 400 acres with over a mile of frontage near Highway 83 for $475,000.
The property鈥檚 current zoning allows for industrial or commercial development and up to 200 acres of residential use. The property is about 30 miles from the proposed Rosemont Mine site and could also be developed with support services once the mine is operating, brokers say.
The site, known as The Passages of Tucson, was once planned as a mixed-use project by a developer from Minnesota, but never came to fruition.
The new buyer was represented by Randy Emerson, of GRE Partners LLC.
Other recent transactions include:
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