VIZZDA – 4/29/2013 — An entity formed by San Diego-based Cisterra Developed acquired a 16.149 acre parcel for $5,623,655 or $7.90 per SF. Buyer contact is Mr. Joseph B Tyson, principal of Cisterra. Seller’s included LeSueur Investments, C. Dennis Barney, and Jay Anderson of Famcor. The LeSueur’s have owned a larger assemblage in the area dating back to the early 90’s.
Located in Gilbert, west of the 202 and South of Ray Rd within the San Tan Village project- the parcel appears to have been farmland. Plans submitted call for 366 apartment units “Crossroads at San Tan”, featuring 2 & 3-story buildings, 29% open space, and 647 parking spaces.
City of Gilbert design review documents, approved on April 11th, 2013, are located here: GILBERT DESIGN REVIEW.