CBRE completed the $19.55 million land sale of 174 acres near Phoenix-Mesa Gateway Airport in Mesa, Ariz.
Jason Hyams and Dave Headstream of CBRE’s Land Services Group represented the seller, Woodlands, Texas-based Eugene DeMuro. The buyer was Signal Butte 24 LLC, formed by W Holdings and Freedom Communities, LLC.
Located at Signal Butte Road and Williams Field Road in Mesa, the site is part of a development called Destination at Gateway. Originally planned for industrial, the land was recently approved and zoned for a mixed-use development and is pre-platted for 709 single-family homes, a for rent housing component and retail.