Merrill Ranch Package revised
Foreclosure Deal—5,690 Acres—Arizona Priced $0.12 on the Dollar
Exclusively Listed for Sale By: Bull Realty, Inc. (H‐20209) in conjunction with KW Commercial (Arizona License #BR035868000) Rob Whitmire | 404.876.1640 x 128 | [email protected] & John DeYonker | 404.876.1640 x 142 | [email protected]
Table of Contents
Merrill Ranch
Section I: Section II:
Executive Summary
Property Overview
Land Use Plan Property Photos Conceptual Rendering Tax Assessor’s Map Phasing Plan Zoning Classifications
Section III: Section IV:
Area Overview Location Maps
Principal Confidentiality Agreement
Executive Summary
Merrill Ranch
Prime acreage foreclosed and offered for sale at 12% of the 2006 appraised value of $420,000,000. The 5,690 acres known as Merrill Ranch provides an incredible opportunity to acquire a large Arizona tract at the lowest price in years. The property, located in the path of growth between Phoenix and Tucson, is being marketed for a consortium of 67 banks. The city of Phoenix predicts the Greater Phoenix region to grow by nearly 60 percent by 2030, bringing the population to more than six million people. Merrill Ranch, a master planned community in Florence, Arizona, is zoned as a Planned Urban Development (PUD) with residential, commercial, and high‐density mixed‐use components. On average, the allowable residential density is 4.5 units per acre equating to a potential of over 26,600 total units possible. With over four miles of highway frontage, you can create your own destination development in this southeastern suburb of Phoenix. The majority of acreage is generally located on the north and south sides of Hunt Highway at the intersection of Felix Road. The balance of the property is located on the south side of Hunt Highway just north of the Gila River. The site terrain is mainly natural desert with varying topography and a general slope toward the southwest. The property is in a Community Facilities District (CFD) No. 1 which was formed to provide a mechanism for financing and constructing public infrastructure for the Merrill Ranch project including the subject property and Pulte’s Anthem development. The CFD has the authority to issue special assessment bonds secured by placing assessments specifically for benefiting properties. The CFD was authorized at its formation in 2005 to incur general obligation bonded indebtedness in an amount up to $1,300,000,000. Some special assessment bonds have already been issued and are secured by property within the CFD; however, none of these bonds encumber any part of the subject property. Adjacent to the subject property is Pulte/Del Webb’s Anthem community which includes an 18‐hole golf course, grocery & retail stores, active adult neighborhood, and a wide variety of housing product types. The town of Coolidge is about six miles away and has a new Wal‐mart SuperCenter, Taco Bell, KFC, Walgreens, Safeway, and other national retailers and restaurants. Priced at roughly $8,000 per acre ($45,850,000), this property is perfectly positioned for future resale profits or development.
Land Use Plan
Merrill Ranch
Property Photos
Looking South Along Felix Road From Northwest Corner of Site
Looking South Across the Subject Site From North End
View of the Adjacent Anthem Project
View of the “Spine” Road Heading Toward the Property
Conceptual Rendering
Tax Assessor’s Map
Phasing Plan
Zoning Classifications
Merrill Ranch
On June 4, 2007, the Town Council amended the Merrill Ranch PUD with the approval of Ordinance No. 460‐07. Of particular importance to the subject property is the rezoning of a significant portion of the property from industrial land use to a mix of commercial, retail, residential and lighter industrial land uses. As a result of the PUD amendment, new zoning classifications were created which resulted in greater residential density (maximum unit count of 4.5 dwelling units per gross acre) and also introduced the concept of incorporating residential units in a commercial core at the southwest corner of the community. The following table summarizes the land uses approved under the amended development plan.
Area Overview Shopping If shopping is your passion, you’re just a short drive to the major metropolitan areas of Mesa, Chandler, Gilbert, and Casa Grande‐offering everything you'd need from grocery stores and shopping malls, to movie theaters and restaurants. Anthem Marketplace, located right within the greater Anthem at Merrill Ranch community, offers the convenience of an onsite Safeway grocery and gas station, Wells Fargo bank, Tutor Time child care, and several other retail shops and businesses. Other area shopping meccas include the nearby Shops at San Tan Village in Gilbert, Arizona Mills in Tempe, Chandler Fashion Center in Chandler, and Fiesta Mall and Superstition Springs Mall in Mesa.
Merrill Ranch
Big Splash Water Park
Anthem Marketplace
Anthem Community Center
Anthem Community Park
Location Map One
Location Map Two
Confidentiality Agreement
Confidentiality Agreement
Exclusively Listed for Sale By: Bull Realty, Inc. (H‐20209) in conjunction with KW Commercial (Arizona License #BR035868000) Rob Whitmire | 404.876.1640 x 128 | [email protected] & John DeYonker | 404.876.1640 x 142 | [email protected]
Table of Contents
Merrill Ranch
Section I: Section II:
Executive Summary
Property Overview
Land Use Plan Property Photos Conceptual Rendering Tax Assessor’s Map Phasing Plan Zoning Classifications
Section III: Section IV:
Area Overview Location Maps
Principal Confidentiality Agreement
Executive Summary
Merrill Ranch
Prime acreage foreclosed and offered for sale at 12% of the 2006 appraised value of $420,000,000. The 5,690 acres known as Merrill Ranch provides an incredible opportunity to acquire a large Arizona tract at the lowest price in years. The property, located in the path of growth between Phoenix and Tucson, is being marketed for a consortium of 67 banks. The city of Phoenix predicts the Greater Phoenix region to grow by nearly 60 percent by 2030, bringing the population to more than six million people. Merrill Ranch, a master planned community in Florence, Arizona, is zoned as a Planned Urban Development (PUD) with residential, commercial, and high‐density mixed‐use components. On average, the allowable residential density is 4.5 units per acre equating to a potential of over 26,600 total units possible. With over four miles of highway frontage, you can create your own destination development in this southeastern suburb of Phoenix. The majority of acreage is generally located on the north and south sides of Hunt Highway at the intersection of Felix Road. The balance of the property is located on the south side of Hunt Highway just north of the Gila River. The site terrain is mainly natural desert with varying topography and a general slope toward the southwest. The property is in a Community Facilities District (CFD) No. 1 which was formed to provide a mechanism for financing and constructing public infrastructure for the Merrill Ranch project including the subject property and Pulte’s Anthem development. The CFD has the authority to issue special assessment bonds secured by placing assessments specifically for benefiting properties. The CFD was authorized at its formation in 2005 to incur general obligation bonded indebtedness in an amount up to $1,300,000,000. Some special assessment bonds have already been issued and are secured by property within the CFD; however, none of these bonds encumber any part of the subject property. Adjacent to the subject property is Pulte/Del Webb’s Anthem community which includes an 18‐hole golf course, grocery & retail stores, active adult neighborhood, and a wide variety of housing product types. The town of Coolidge is about six miles away and has a new Wal‐mart SuperCenter, Taco Bell, KFC, Walgreens, Safeway, and other national retailers and restaurants. Priced at roughly $8,000 per acre ($45,850,000), this property is perfectly positioned for future resale profits or development.
Land Use Plan
Merrill Ranch
Property Photos
Looking South Along Felix Road From Northwest Corner of Site
Looking South Across the Subject Site From North End
View of the Adjacent Anthem Project
View of the “Spine” Road Heading Toward the Property
Conceptual Rendering
Tax Assessor’s Map
Phasing Plan
Zoning Classifications
Merrill Ranch
On June 4, 2007, the Town Council amended the Merrill Ranch PUD with the approval of Ordinance No. 460‐07. Of particular importance to the subject property is the rezoning of a significant portion of the property from industrial land use to a mix of commercial, retail, residential and lighter industrial land uses. As a result of the PUD amendment, new zoning classifications were created which resulted in greater residential density (maximum unit count of 4.5 dwelling units per gross acre) and also introduced the concept of incorporating residential units in a commercial core at the southwest corner of the community. The following table summarizes the land uses approved under the amended development plan.
Area Overview Shopping If shopping is your passion, you’re just a short drive to the major metropolitan areas of Mesa, Chandler, Gilbert, and Casa Grande‐offering everything you'd need from grocery stores and shopping malls, to movie theaters and restaurants. Anthem Marketplace, located right within the greater Anthem at Merrill Ranch community, offers the convenience of an onsite Safeway grocery and gas station, Wells Fargo bank, Tutor Time child care, and several other retail shops and businesses. Other area shopping meccas include the nearby Shops at San Tan Village in Gilbert, Arizona Mills in Tempe, Chandler Fashion Center in Chandler, and Fiesta Mall and Superstition Springs Mall in Mesa.
Merrill Ranch
Big Splash Water Park
Anthem Marketplace
Anthem Community Center
Anthem Community Park
Location Map One
Location Map Two
Confidentiality Agreement
Confidentiality Agreement
