Here’s how hot the Arizona land market is right now: Mangat Group, a Glendale-based land development 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.
READ ALSO: Here’s the outlook for land and housing in 2021
Here are the 10 biggest land deals from May:
1. Stonehaven Phases 2 & 3 (proposed): $29,500,000
Size: 165.78 acres
Location: NEC of 91st Ave. and Camelback Rd., Glendale
Buyer: Taylor Morrison
Seller: Jacob F. Long
Broker: Land Advisors
2. Lagoon Water Park (proposed): $27,000,000
Size: 48.38 acres
Location: SEC Loop 101 and Bethany Home Rd., Glendale
Buyer: Epic Adventures
Seller: Seldin Real Estate
Broker: Nathan & Associates
3. Madera West Estates (proposed): $25,417,725.75
Size: 73.91 acres
Location: SEC Queen Creek and Crismon roads, Queen Creek
Buyer: Richmond American Homes
Seller: Communities Southwest
Broker: Nathan & Associates
4. SEC Estrella Pkwy. and Yuma Rd.: $23,000,000
Size: 155.79 acres
Location: Goodyear
Buyer: Fulton Homes
Seller: SunChase Holdings
Broker: Land Advisors
5. SEC Thompson Road and Hunt Highway: $20,312,797
Size: 85.36 acres
Location: San Tan Valley
Buyer: Mattamy Homes
Seller: McRae Group of Companies
Broker: Nathan & Associates
6. 23742 N. Central Ave.: $16,156,404
Size: 37.1 acres
Location: Phoenix
Buyer: Copart
Seller: Domres Grading Inc.
7. NEC 163rd Avenue and Happy Valley Road: $14,375,000
Size: 125 acres
Location: Surprise
Buyer: Meritage Homes
Seller: Wittrock Land 1 LLC
8. Mystic at Lake Pleasant Heights: $14,186,250
Size: 126 lots
Location: Peoria
Buyer: Lennar Homes
Seller: Avanti Properties Group
Broker: Land Advisors
9. Taylor Morrison at Ellsworth Ranch Phase 1 (proposed): $12,412,200
Size: 98.57 acres (287 platted and engineered lots)
Location: NWC of S. Ellsworth Rd. and E. Chandler Heights Blvd., Queen Creek
Buyer: Taylor Morrison
Seller: EIP Ellsworth Feedlot LLC
Skyview (Tempe): $12,200,000
Size: 2.64 acres
Location: 855 South Rural Road, Tempe
Buyer: American Campus Communities
Seller: Golub Real Estate Investments