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September 20, 2016 – Shea Homes LP purchased a ±79 Acre parcel located at the Southwest corner of Ray Rd & Recker Rd in Gilbert, Arizona.
The cash purchase price was $16,000,000 | $202,531/Acre | $41,775/Lot. The site is being purchased in a Two-Phase takedown and is planned for 383 Lots as follows: 128 Lots | 45’ x 118.5’; 78 Lots | 55’ x 128.5’ and 177 Motor Court Lots.
The Seller was Atlas Development II, LLC. Grant D. Helgeson, Don McCaul and Brian Beard of the Westland Properties Group represented both parties in this transaction.
Get further details regarding the sale in Cameron’s $5M + deals of the day