(Disclosure; Rose Law Group represents Fulton Homes, Lennar, Mattamy Homes Meritage Homes, Richmond American Homes and Taylor Morrison.)
By AZRE | AZ Big Media
Here’s how hot the Arizona land market is right now: Mangat Group, a Glendale-based landdevelopment group, bought a parcel of land in Buckeye valued at $2.5 million at the beginning of March. By the end of the month, that same piece of land was in escrow for $5.6 million. The Metro Phoenix commercial real estate sector continues to stay red hot in 2021, as evidenced by the biggest land deals from May, according to data collected by the commercial real estate tracking website Vizzda.
Here are the 10 biggest land deals from May:
1. Stonehaven Phases 2 & 3 (proposed): $29,500,000
Size: 165.78 acresLocation: NEC of 91st Ave. and Camelback Rd., GlendaleBuyer: Taylor MorrisonSeller: Jacob F. LongBroker: Land Advisors
2. Lagoon Water Park (proposed): $27,000,000
Size: 48.38 acresLocation: SEC Loop 101 and Bethany Home Rd., GlendaleBuyer: Epic AdventuresSeller: Seldin Real EstateBroker: Nathan & Associates
3. Madera West Estates (proposed): $25,417,725.75
Size: 73.91 acresLocation: SEC Queen Creek and Crismon roads, Queen CreekBuyer: Richmond American HomesSeller: Communities SouthwestBroker: Nathan & Associates
4. SEC Estrella Pkwy. and Yuma Rd.: $23,000,000
Size: 155.79 acresLocation: GoodyearBuyer: Fulton HomesSeller: SunChase HoldingsBroker: Land Advisors
5. SEC Thompson Road and Hunt Highway: $20,312,797
Size: 85.36 acresLocation: San Tan ValleyBuyer: Mattamy HomesSeller: McRae Group of CompaniesBroker: Nathan & Associates
