New Release
On October 30 the latest sale in Morrison Ranch (Gilbert AZ) closed at First American Title (Angelique Sizemore) at final plat to multiple builders in the approximately 153 acre Warner Groves neighborhood located at the NEC of Higley and Warner Roads.
The seller was Morrison Ranch Inc (Contact: Scott Morrison) and the buyers were Ashton Wood (Contacts: Jeremy Ramsdell Land VP and Scott Moore Division President) who are purchasing 2 subdivisions: 66 lots of 85 by 125 and 98 lots that are 60 by 125, Maracay (Contacts: Jason Weber, Director of Land Acquisitions and Tom Lemon VP Land Acquisitions and Development, Andy Warren Division President) acquired 2 parcels, 66 lots that are 70’ by 130’ and 105 lots that are 50’ by 120’. Ashton is land banking with Mike Jesberger of Terrawest.
The site will be developed under a Joint Development Agreement for the builders managed by Greg Hahn of EPS and the lots will be finished for a total of $1600 per front foot. The improvements include a major portion of Higley Road and on the east side of Higley Road will be a second water storage lake for the balance of the Morrison Ranch property.
Within the sale property was a family gifted parcel of 38 acres to ASU Foundation who was one of the Seller’s (Mollie Jackson and Randy Levine is the ASU Foundation contact).
Marketing handled by Michael Martindale of CRA who has represented Morrison Ranch residential sales since the inception of the project.
Lots are final platted in the theme of Morrison Ranch and the housing product with continue that theme with Porches, Craftsman, Farm House and Ranch. Open spaces are throughout the project with tree lined streets.
