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Homebuilders close on 250 acres along Loop 303 corridor in Glendale

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Posted at 9:07 AM, Oct 11, 2021
and last updated 2021-10-12 16:08:39-04

GLENDALE, AZ — Two publicly traded homebuilders have joined forces to scoop up a 250-acre parcel of land near a $1.5 billion industrial park being planned in Glendale.

Scottsdale-based Taylor Morrison Home Corp. (NYSE: TMHC) and Atlanta-based PulteGroup Inc. (NYSE: PHM) teamed up to pay $33 million for the 250 acres just west of Loop 303, bounded by Camelback Road on the south and Bethany Home Road on the north.

Nate Nathan and Courtney Buck of Scottsdale-based Nathan & Associates Inc. negotiated the transaction, which had been in escrow since last year.

In August 2020, the brokers also had negotiated the $70.5 million sale of the 614-acre parcel where Phoenix-based Merit Partners is developing a $1.5 billion logistics park.

The 250 acres — which will include 760 lots — was the last parcel to be sold within Allen Ranches, Nathan said. Taylor Morrison will have 476 lots while PulteGroup will have 284 lots.

Read more of this story from the Business Journal.