Melcor Lands 195 Acres in Goodyear, AZ for $10,000,000

Land Advisors Organization recently brokered the $10,186,000 purchase of 196 acres located in Buckeye, Arizona. Land Advisors Organization represented the buyer, Melcor Developments Arizona Inc. in Tempe, a subsidiary of Melcor Developments Ltd. in Edmonton, Alberta, Canada in this transaction. The seller in the cash sale was SBH La Privada LP, a limited partnership formed by Sunbelt Holdings Inc. in Scottsdale. Nathan & Associates represented the seller.
The undeveloped land located north of Yuma Road and east of Perryville Road is zoned for 578 single-family residences in a community called La Privada. Ryan Mott of Melcor Developments in Phoenix, says the company intends to evaluate the market before deciding on the final lot product. The land adjacent south and west of La Privada that is targeted for another 350 lots between two communities Paseo Place I and Paseo Place II is also owned by Melcor Developments Arizona. In July 2014, Melcor paid $6.511+ million to acquire 120 acres located along both sides of Yuma Road and west of Citrus Road that comprises those projects.
Land Advisors Organization will assist in marketing Paseo Place I, Paseo Place II and La Privada. Ryan Semro, Bret Rinehart and Ben Heglie brokered the notable transaction, and will work with Melcor Developments Arizona as requested to pursue additional residential land opportunities in the Phoenix area. For additional information, contact the agents at 480-483-8100.

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