Cushman & Wakefield, a global leader in commercial real estate services, announced today that Pulte Homes was the winning bidder in an Arizona State Land Department auction for 43.3 acres with a winning bid of $7.1 million. The purchase includes 29.52 acres located on the northeast corner of 55th Avenue and Happy Valley Road and an additional 13.78 acres north of Happy Valley Road on the west side of 55th Avenue.
Brian Rosella and Will French of Cushman & Wakefield represented Pulte during the State Land auction.
Pulte is planning to build single-family residential homes on the on the 29.52 acre site. The 13.78 acre site is planned for a small commercial development.
“The visual beauty of the Stetson Valley community and location appealed to Pulte as they expand their presence in the Northwest Valley,” said Mr. Rosella. “Pulte has achieved great success with previous home developments in the Stetson area and is enthusiastic about continuing that success with this new project.”
PulteGroup has been providing homeownership to families for more than 60 years. The company is the industry’s only multi-brand homebuilding firm that serves customers in all phases of life. PulteGroup operates in approximately 50 markets throughout the country and is well known for its Centex, Del Webb, DiVosta and Pulte Homes brands.
The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.