MERIDIAN ESTATES, LLC a company formed by EL DORADO HOLDINGS COMPANY of Phoenix, AZ (Mike Ingram, Chairman and Jim Kenny President, Chris Grogan Partner) paid $8.923 million cash to acquire +/-229 acres at the NEC of Signal Butte and Ocotillo Roads, in Queen Creek, Ariz.
Located immediately adjacent to one of the most active homebuilding submarkets in the Southeast Valley approximately four miles South of Mesa Gateway Airport and Arizona State Polytechnic Campus. KITTYHAWK, LLC, a company formed by Daryl Wolfswinkel, was the seller on the transaction.
Martin Pylman, Rick Jellies, Ken Reycraft and Kent Baker from City to City Commercial Real Estate of Scottsdale, Ariz. brokered the transaction.
El Dorado Holdings is planning on entitling the site for an exclusive gated large lot community.