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N Zia Crossing Pky
Hobbs, NM 88240
Commercial Property at Zia Crossing · Land For Sale
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21.30 AC
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 21.30 AC |
| Property Subtype | Commercial | Cross Streets | W Millen Drive |
| Proposed Use | Commercial |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Commercial |
| Total Lot Size | 21.30 AC |
| Cross Streets | W Millen Drive |
DESCRIPTION
Zia Crossing is a residential and commercial development in the Permian Basin, one of the most prolific oil and natural gas basins in the United States. Project History In 2011, we began looking at the feasibility of developing a parcel of land containing 320 acres, contiguous to the northwestern boundary of the City of Hobbs in Lea County, New Mexico. Due to the tremendous influx of workers in the energy related industry, according to studies at the time, the City of Hobbs was lagging in single family dwelling units by as much as 3,500 homes. In 2013 we proceeded with the planning and annexation process of bringing 190 acres into the City of Hobbs. The demand for housing has allowed us to developed 5 Units in Phase #1 and we have sold 274 lots. Retail home sales at Zia Crossing are in excess of $55,000,000 since August 2014. The Master Plan calls for 5 Units in Phase #1, for a total of 328 residential lots and Phase #2 calls for 9 Units, for a total of 393 residential lots. The combined total of single-family homes at Zia Crossing is 721 lots.
